Civic Intelligence

Morrow Chase Housing Inc.

990 • Fiscal year 2015 • EIN 26-1526593

Jan 01, 2015 to Dec 31, 2015 • Filed on Apr 12, 2016

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

72nd percentile

1.13x

Higher debt load relative to assets than 72% of similar nonprofits.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

97th percentile

29.94x

Higher debt load relative to revenue than 97% of similar nonprofits.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2015

Net Margin

10th percentile

-78%

Higher net margin than 10% of similar nonprofits.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2015 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2015

Asset Growth

42nd percentile

-2.8%

Faster asset growth than 42% of similar nonprofits.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

34th percentile

-0.9%

Faster revenue growth than 34% of similar nonprofits.

2015 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$4,954,492

Down $143,456 (-2.8%) from 2014

Net Assets

Down

-$662,889

Down $147,215 (-29%) from 2014

Liabilities

Up

$5,617,381

Up $3,759 (+0.1%) from 2014

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin10th percentile

Revenue

Down

$187,633

Down $1,643 (-0.9%) from 2014

Expenses

Up

$334,849

Up $24,933 (+8.0%) from 2014

Net Income

Down

-$147,216

Down $26,576 (-22%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2015

Assets$4,954,492
Liabilities$5,617,381
Net Assets-$662,889
Open 2015 Filing

Operations Trend

Revenue Growth34th 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

2015

Revenue$187,633
Expenses$334,849
Net Income-$147,216
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Apr 12, 2016
Return Version
2015v2.1
Gross Receipts
$187,633
Mission and Program Overview

Mission

Low income elderly housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,469,263$4,331,699▼ $137,564
Cash and Non-Interest-Bearing Accounts$24,612$11,191▼ $13,421
Prepaid Expenses and Deferred Charges$2,292$2,449▲ $157
Accounts Receivable$303$439▲ $136
Total Assets$5,097,948$4,954,492▼ $143,456
Other Assets Total$601,478$608,714▲ $7,236
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,586,700$5,586,700→ $0
Other Liabilities$17,607$18,156▲ $549
Accounts Payable and Accrued Expenses$8,502$9,150▲ $648
Deferred Revenue$812$3,375▲ $2,563
Total Liabilities$5,613,621$5,617,381▲ $3,760
Net Assets / Fund Balance
Unrestricted Net Assets$-515,673$-662,889▼ $147,216
Total Net Assets Fund Balance$-515,673$-662,889▼ $147,216
Total Liabilities and Net Assets / Fund Balance$5,097,948$4,954,492▼ $143,456

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,829,330$573,210-
Other Land Buildings$10,349$20,620-
Land$223,350--
Equipment$31,126$39,203-
Leasehold Improvements$237,544$81,843-
Other Assets Org$608,714--
Compensation and Service Providers
Top Officer Pay50th 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
$186,758
Investment Income
$875
Other Revenue
$0
Change in Net Assets
$-147,216

Audited Revenue Reconciliation

Revenue per Audited Statements
$187,633
Total Revenue per Audited Statements
$187,633
Total Revenue per Form 990
$187,633
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$283,552
Salaries, Compensation, and Employee Benefits$51,297
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$138,014$0$0$138,014
Other Salaries and Wages$0$42,688$0$42,688
Fees for Services Management$0$26,493$0$26,493
Occupancy$21,566$0$0$21,566
Fees for Services Accounting$0$7,524$0$7,524
Office Expenses$0$7,209$0$7,209
Insurance$6,812$0$0$6,812
Other Employee Benefits$0$4,827$0$4,827
Payroll Taxes$0$3,782$0$3,782
Advertising$2,696$0$0$2,696
Information Technology$0$2,355$0$2,355
Travel$0$668$0$668
Conferences and Meetings$0$629$0$629
Other Expenses$626$0$0$626
Total Functional Expenses$238,674$96,175$0$334,849

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$334,849
Total Expenses per Audited Statements$334,849
Total Expenses per Form 990$334,849
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$18,156
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
2016-04-12
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 Appendix386 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/Total509Grp/CurrentTaxYearMinus1YearAmt0188421
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0186129
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0168945
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0158981
IRS990ScheduleA/Total509Grp/TotalAmt0889234
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0892455
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt03829330
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0573210
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt04402540
IRS990ScheduleD/EquipmentGrp/BookValueAmt031126
IRS990ScheduleD/EquipmentGrp/DepreciationAmt039203
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt070329
IRS990ScheduleD/ExpensesSubtotalAmt0334849
IRS990ScheduleD/LandGrp/BookValueAmt0223350
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0223350
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0237544
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt081843
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0319387
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0608714
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Other Cash Deposits
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt010349
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt020620
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt030969
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018156
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant Security Deposits
IRS990ScheduleD/RevenueSubtotalAmt0187633
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04331699
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0608714
IRS990ScheduleD/TotalExpensesPerForm990Amt0334849
IRS990ScheduleD/TotalLiabilityAmt018156
IRS990ScheduleD/TotalRevenuePerForm990Amt0187633
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0187633
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0334849
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/TotalAssetsBOYAmt05097948
IRS990/TotalAssetsEOYAmt04954492
IRS990/TotalAssetsGrp/BOYAmt05097948
IRS990/TotalAssetsGrp/EOYAmt04954492
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt096175
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0238674
IRS990/TotalFunctionalExpensesGrp/TotalAmt0334849
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05613621
IRS990/TotalLiabilitiesEOYAmt05617381
IRS990/TotalLiabilitiesGrp/BOYAmt05613621
IRS990/TotalLiabilitiesGrp/EOYAmt05617381
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-515673
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-662889
IRS990/TotalProgramServiceExpensesAmt0238674
IRS990/TotalProgramServiceRevenueAmt0186758
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0187633
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0187633
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05097948
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04954492
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0668
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt0668
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-515673
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-662889
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/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DON G WELLONS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09108920436
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-04-12
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/PreparationDt02016-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW A PATTERSON CPA
ReturnHeader/ReturnTs02016-05-13T09:51:31-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,954,492
Liabilities
$5,617,381
Net assets
-$662,889
Revenue
$187,633
Expenses
$334,849
Net income
-$147,216
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