Civic Intelligence

Morrow Chase Housing Inc.

990 • Fiscal year 2014 • EIN 26-1526593

Jan 01, 2014 to Dec 31, 2014 • Filed on May 01, 2015

Organization ProfileN/A
PO Box 1254Dunn, NC 28335

(910) 892-0436

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

77th percentile

1.10x

Higher debt load relative to assets than 77% of similar nonprofits.

2014 filings • NTEE L • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

96th percentile

29.66x

Higher debt load relative to revenue than 96% of similar nonprofits.

2014 filings • NTEE L • $5M-$10M nonprofits • Source year 2014

Net Margin

7th percentile

-64%

Higher net margin than 7% of similar nonprofits.

2014 filings • NTEE L • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • NTEE L • $5M-$10M nonprofits • Source year 2014

Asset Growth

43rd percentile

-2.4%

Faster asset growth than 43% of similar nonprofits.

2014 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

54th percentile

1.2%

Faster revenue growth than 54% of similar nonprofits.

2014 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$5,097,948

Down $123,446 (-2.4%) from 2013

Net Assets

Down

-$515,674

Down $120,640 (-31%) from 2013

Liabilities

Down

$5,613,622

Down $2,806 (-0.0%) from 2013

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin7th percentile

Revenue

Up

$189,276

Up $2,323 (+1.2%) from 2013

Expenses

Up

$309,916

Up $2,722 (+0.9%) from 2013

Net Income

Down

-$120,640

Down $399 (-0.3%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MAssets 2011: $5,072,576Liabilities 2011: $5,236,215Net Assets 2011: -$163,6392011Assets 2012: $5,340,867Liabilities 2012: $5,615,660Net Assets 2012: -$274,7932012Assets 2013: $5,221,394Liabilities 2013: $5,616,428Net Assets 2013: -$395,0342013Assets 2014: $5,097,948Liabilities 2014: $5,613,622Net Assets 2014: -$515,6742014Assets 2015: $4,954,492Liabilities 2015: $5,617,381Net Assets 2015: -$662,8892015Assets 2016: $4,784,685Liabilities 2016: $5,615,802Net Assets 2016: -$831,1172016Assets 2017: $4,652,986Liabilities 2017: $5,616,936Net Assets 2017: -$963,9502017Assets 2018: $4,511,086Liabilities 2018: $5,621,904Net Assets 2018: -$1,110,8182018Assets 2019: $4,367,291Liabilities 2019: $5,622,721Net Assets 2019: -$1,255,4302019Assets 2020: $4,223,445Liabilities 2020: $5,623,052Net Assets 2020: -$1,399,6072020Assets 2021: $4,089,158Liabilities 2021: $5,615,685Net Assets 2021: -$1,526,5272021Assets 2022: $3,925,938Liabilities 2022: $5,614,728Net Assets 2022: -$1,688,7902022Assets 2023: $3,782,835Liabilities 2023: $5,626,973Net Assets 2023: -$1,844,1382023Assets 2024: $3,667,641Liabilities 2024: $5,685,100Net Assets 2024: -$2,017,4592024

Highlighted filing

2014

Assets$5,097,948
Liabilities$5,613,622
Net Assets-$515,674
Open 2014 Filing

Operations Trend

Revenue Growth54th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2011: $283,0702011Expenses 2012: $280,7412012Revenue 2013: $186,953Expenses 2013: $307,194Net Income 2013: -$120,2412013Revenue 2014: $189,276Expenses 2014: $309,916Net Income 2014: -$120,6402014Revenue 2015: $187,633Expenses 2015: $334,849Net Income 2015: -$147,2162015Revenue 2016: $193,826Expenses 2016: $362,054Net Income 2016: -$168,2282016Revenue 2017: $208,520Expenses 2017: $341,353Net Income 2017: -$132,8332017Revenue 2018: $215,760Expenses 2018: $362,628Net Income 2018: -$146,8682018Revenue 2019: $231,646Expenses 2019: $376,258Net Income 2019: -$144,6122019Revenue 2020: $223,256Expenses 2020: $367,433Net Income 2020: -$144,1772020Revenue 2021: $229,522Expenses 2021: $356,442Net Income 2021: -$126,9202021Revenue 2022: $244,368Expenses 2022: $406,631Net Income 2022: -$162,2632022Revenue 2023: $245,929Expenses 2023: $401,277Net Income 2023: -$155,3482023Revenue 2024: $268,511Expenses 2024: $441,832Net Income 2024: -$173,3212024

Highlighted filing

2014

Revenue$189,276
Expenses$309,916
Net Income-$120,640
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 1, 2015
Return Version
2014v5.0
Gross Receipts
$189,276
Mission and Program Overview

Mission

Low income elderly housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,606,459$4,469,263▼ $137,196
Cash and Non-Interest-Bearing Accounts$8,764$24,612▲ $15,848
Prepaid Expenses and Deferred Charges$7,294$2,292▼ $5,002
Accounts Receivable$680$303▼ $377
Total Assets$5,221,394$5,097,948▼ $123,446
Other Assets Total$598,197$601,478▲ $3,281
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,586,700$5,586,700→ $0
Other Liabilities$15,706$17,607▲ $1,901
Accounts Payable and Accrued Expenses$13,063$8,503▼ $4,560
Deferred Revenue$959$812▼ $147
Total Liabilities$5,616,428$5,613,622▼ $2,806
Net Assets / Fund Balance
Unrestricted Net Assets$-395,034$-515,674▼ $120,640
Total Net Assets Fund Balance$-395,034$-515,674▼ $120,640
Total Liabilities and Net Assets / Fund Balance$5,221,394$5,097,948▼ $123,446

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,939,393$463,147-
Other Land Buildings$14,373$16,596-
Land$223,350--
Equipment$38,633$31,646-
Leasehold Improvements$253,514$65,873-
Other Assets Org$601,478--
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Don G WellonsPresident/Director
Gene T JerniganAsst Secretary/Director
Sylvia W CraftAsst Secretary/Director
Shirley P GodwinSecretary/Treasurer/Director
John H Wellons JrVice Pres/Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$188,421
Investment Income
$855
Other Revenue
$0
Change in Net Assets
$-120,640

Audited Revenue Reconciliation

Revenue per Audited Statements
$189,276
Total Revenue per Audited Statements
$189,276
Total Revenue per Form 990
$189,276
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$261,290
Salaries, Compensation, and Employee Benefits$48,626
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$137,858$0$0$137,858
Other Salaries and Wages$0$40,561$0$40,561
Fees for Services Management$0$26,041$0$26,041
Occupancy$17,456$0$0$17,456
Insurance$11,513$0$0$11,513
Fees for Services Accounting$0$7,524$0$7,524
Office Expenses$0$6,580$0$6,580
Other Employee Benefits$0$4,136$0$4,136
Payroll Taxes$0$3,718$0$3,718
Advertising$2,006$0$0$2,006
Information Technology$0$1,241$0$1,241
Conferences and Meetings$0$920$0$920
Other Expenses$584$0$0$584
Travel$0$558$0$558
Pension Plan Contributions$0$211$0$211
Total Functional Expenses$218,426$91,490$0$309,916

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$309,916
Total Expenses per Audited Statements$309,916
Total Expenses per Form 990$309,916
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$17,607
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Morrow Chase Housing Inc
EIN
26-1526593
Phone
9108920436
Address
PO BOX 1254, DUNN, NC 28335

Signing Officer

Name
Don G Wellons
Title
President
Phone
9108920436
Signed
2015-05-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Don G Wellons
Formed
2010
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Collins Kemp & Patterson Pllc
Address
PO BOX 1105, LUMBERTON, NC 28359
Preparer
Matthew a Patterson CPA
Phone
9107381448
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

“Several Board members share a family relationship.”

Pt VI, Line 11B

“Organization makes 990 available to Board members who wish to inspect prior to filing.”

Pt VI, Line 12C

“Conflict of interest policy is reviewed annually during Board meetings.”

Pt VI, Line 15A

“Organization reimburses management company for payroll related expenses.”

Pt VI, Line 15B

“Organization reimburses management company for payroll related expenses.”

Pt VI, Line 19

“Organization has a copy of 990 available for inspection.”

Raw XML Appendix388 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0PROVIDE ELDERLY AND HANDICAPPED PERSONS WITH REDUCED RENT HOUSING AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS AND PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING.
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IRS990/Form990PartVIISectionAGrp/PersonNm1JOHN H WELLONS JR
IRS990/Form990PartVIISectionAGrp/PersonNm2SHIRLEY P GODWIN
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IRS990ScheduleA/PublicSupportTotal509Amt0719614
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0188421
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0186129
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0168945
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0158981
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt017138
IRS990ScheduleA/Total509Grp/TotalAmt0719614
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0721960
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt03939393
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0463147
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt04402540
IRS990ScheduleD/EquipmentGrp/BookValueAmt038633
IRS990ScheduleD/EquipmentGrp/DepreciationAmt031646
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt070279
IRS990ScheduleD/ExpensesSubtotalAmt0309916
IRS990ScheduleD/LandGrp/BookValueAmt0223350
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0223350
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0253514
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt065873
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0319387
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0601478
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Other Cash Deposits
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt014373
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt016596
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt030969
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt017607
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant Security Deposits
IRS990ScheduleD/RevenueSubtotalAmt0189276
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04469263
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0601478
IRS990ScheduleD/TotalExpensesPerForm990Amt0309916
IRS990ScheduleD/TotalLiabilityAmt017607
IRS990ScheduleD/TotalRevenuePerForm990Amt0189276
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0189276
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0309916
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Several Board members share a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Organization makes 990 available to Board members who wish to inspect prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Conflict of interest policy is reviewed annually during Board meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Organization reimburses management company for payroll related expenses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Organization reimburses management company for payroll related expenses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Organization has a copy of 990 available for inspection.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05221394
IRS990/TotalAssetsEOYAmt05097948
IRS990/TotalAssetsGrp/BOYAmt05221394
IRS990/TotalAssetsGrp/EOYAmt05097948
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt091490
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0218426
IRS990/TotalFunctionalExpensesGrp/TotalAmt0309916
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05616428
IRS990/TotalLiabilitiesEOYAmt05613622
IRS990/TotalLiabilitiesGrp/BOYAmt05616428
IRS990/TotalLiabilitiesGrp/EOYAmt05613622
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-395034
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-515674
IRS990/TotalProgramServiceExpensesAmt0218426
IRS990/TotalProgramServiceRevenueAmt0188421
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0189276
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0189276
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05221394
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05097948
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0558
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt0558
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-395034
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-515674
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1254
IRS990/USAddress/CityNm0DUNN
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028335
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DON G WELLONS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09108920436
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MORROW CHASE HOUSING INC
ReturnHeader/Filer/BusinessNameControlTxt0MORR
ReturnHeader/Filer/EIN0261526593
ReturnHeader/Filer/PhoneNum09108920436
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1254
ReturnHeader/Filer/USAddress/CityNm0DUNN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028335
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COLLINS KEMP & PATTERSON PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1105
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LUMBERTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028359
ReturnHeader/PreparerPersonGrp/PhoneNum09107381448
ReturnHeader/PreparerPersonGrp/PreparationDt02015-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW A PATTERSON CPA
ReturnHeader/ReturnTs02015-05-13T12:22:22-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,097,948
Liabilities
$5,613,622
Net assets
-$515,674
Revenue
$189,276
Expenses
$309,916
Net income
-$120,640
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.67$5.69$2.02$0.27$0.44$0.17
2023Detailed filing. Detailed filing data is available for this year.$3.78$5.63$1.84$0.25$0.40$0.16
2022Detailed filing. Detailed filing data is available for this year.$3.93$5.61$1.69$0.24$0.41$0.16
2021Detailed filing. Detailed filing data is available for this year.$4.09$5.62$1.53$0.23$0.36$0.13
2020Detailed filing. Detailed filing data is available for this year.$4.22$5.62$1.40$0.22$0.37$0.14
2019Detailed filing. Detailed filing data is available for this year.$4.37$5.62$1.26$0.23$0.38$0.14
2018Detailed filing. Detailed filing data is available for this year.$4.51$5.62$1.11$0.22$0.36$0.15
2017Detailed filing. Detailed filing data is available for this year.$4.65$5.62$0.96$0.21$0.34$0.13
2016Detailed filing. Detailed filing data is available for this year.$4.78$5.62$0.83$0.19$0.36$0.17
2015Detailed filing. Detailed filing data is available for this year.$4.95$5.62$0.66$0.19$0.33$0.15
2014Detailed filing. Detailed filing data is available for this year.$5.10$5.61$0.52$0.19$0.31$0.12
2013Detailed filing. Detailed filing data is available for this year.$5.22$5.62$0.40$0.19$0.31$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.34$5.62$0.27$0.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.07$5.24$0.16$0.28