Civic Intelligence

Morrow Chase Housing Inc.

990 • Fiscal year 2018 • EIN 26-1526593

Jan 01, 2018 to Dec 31, 2018 • Filed on May 08, 2019

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

1.25x

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

2018 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

97th percentile

26.06x

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

2018 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2018

Net Margin

16th percentile

-68%

Higher net margin than 16% of similar nonprofits.

2018 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2018

Asset Growth

49th percentile

-3.0%

Faster asset growth than 49% of similar nonprofits.

2018 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

52nd percentile

3.5%

Faster revenue growth than 52% of similar nonprofits.

2018 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$4,511,086

Down $141,900 (-3.0%) from 2017

Net Assets

Down

-$1,110,818

Down $146,868 (-15%) from 2017

Liabilities

Up

$5,621,904

Up $4,968 (+0.1%) from 2017

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin16th percentile

Revenue

Up

$215,760

Up $7,240 (+3.5%) from 2017

Expenses

Up

$362,628

Up $21,275 (+6.2%) from 2017

Net Income

Down

-$146,868

Down $14,035 (-11%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth49th 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

2018

Assets$4,511,086
Liabilities$5,621,904
Net Assets-$1,110,818
Open 2018 Filing

Operations Trend

Revenue Growth52nd 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

2018

Revenue$215,760
Expenses$362,628
Net Income-$146,868
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 8, 2019
Return Version
2018v3.1
Gross Receipts
$215,760
Mission and Program Overview

Mission

Low income elderly housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$4,061,795$3,928,792▼ $133,003
Cash and Non-Interest-Bearing Accounts$23,160$15,334▼ $7,826
Prepaid Expenses and Deferred Charges$2,818$3,122▲ $304
Accounts Receivable$605$633▲ $28
Total Assets$4,652,986$4,511,086▼ $141,900
Other Assets Total$564,608$563,205▼ $1,403
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,586,700$5,586,700→ $0
Accounts Payable and Accrued Expenses$12,611$18,641▲ $6,030
Other Liabilities$16,716$16,563▼ $153
Deferred Revenue$909$0▼ $909
Total Liabilities$5,616,936$5,621,904▲ $4,968
Net Assets / Fund Balance
Unrestricted Net Assets$-963,950$-1,110,818▼ $146,868
Total Net Assets Fund Balance$-963,950$-1,110,818▼ $146,868
Total Liabilities and Net Assets / Fund Balance$4,652,986$4,511,086▼ $141,900

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,499,139$903,401-
Other Land Buildings$4,070$17,635-
Land$223,350--
Equipment$12,597$67,946-
Leasehold Improvements$189,636$129,751-
Other Assets Org$563,205--
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
$214,953
Investment Income
$807
Other Revenue
$0
Change in Net Assets
$-146,868

Audited Revenue Reconciliation

Revenue per Audited Statements
$215,760
Total Revenue per Audited Statements
$215,760
Total Revenue per Form 990
$215,760
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$297,294
Salaries, Compensation, and Employee Benefits$65,334
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$137,705$0$0$137,705
Other Salaries and Wages$0$53,429$0$53,429
Fees for Services Management$0$30,117$0$30,117
Occupancy$19,546$0$0$19,546
Fees for Services Accounting$0$9,023$0$9,023
Insurance$8,445$0$0$8,445
Other Employee Benefits$0$8,006$0$8,006
Office Expenses$0$7,871$0$7,871
Payroll Taxes$0$3,899$0$3,899
Advertising$2,433$0$0$2,433
Information Technology$0$2,031$0$2,031
Conferences and Meetings$0$878$0$878
Travel$0$391$0$391
Other Expenses$345$0$0$345
Total Functional Expenses$246,983$115,645$0$362,628

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$362,628
Total Expenses per Audited Statements$362,628
Total Expenses per Form 990$362,628
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$16,563
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
2019-05-08
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
Patterson & Associates PLLC
Address
4248 FAYETTEVILLE ROAD, 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 AppendixShowing 400 of 424 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/Form990PartVIISectionAGrp/PersonNm0Don G Wellons
IRS990/Form990PartVIISectionAGrp/PersonNm1John H Wellons Jr
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0855
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt04222
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0214953
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0207697
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0192964
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0186758
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0188421
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0990793
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0807
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0823
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0862
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0875
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0855
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt04222
IRS990ScheduleA/InvestmentIncomeCYPct00.00420
IRS990ScheduleA/InvestmentIncomePYPct00.00440
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00.99580
IRS990ScheduleA/PublicSupportPY509Pct00.99560
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt0990793
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0214953
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0207697
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0192964
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0186758
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0188421
IRS990ScheduleA/Total509Grp/TotalAmt0990793
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0995015
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt03499139
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0903401
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt04402540
IRS990ScheduleD/EquipmentGrp/BookValueAmt012597
IRS990ScheduleD/EquipmentGrp/DepreciationAmt067946
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt080543
IRS990ScheduleD/ExpensesSubtotalAmt0362628
IRS990ScheduleD/LandGrp/BookValueAmt0223350
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0223350
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0189636
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0129751
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0319387
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0563205
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Other Cash Deposits
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt04070
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt017635
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt021705
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt016563
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant Security Deposits
IRS990ScheduleD/RevenueSubtotalAmt0215760
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03928792
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0563205
IRS990ScheduleD/TotalExpensesPerForm990Amt0362628
IRS990ScheduleD/TotalLiabilityAmt016563
IRS990ScheduleD/TotalRevenuePerForm990Amt0215760
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0215760
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0362628
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/TotalAssetsBOYAmt04652986
IRS990/TotalAssetsEOYAmt04511086
IRS990/TotalAssetsGrp/BOYAmt04652986
IRS990/TotalAssetsGrp/EOYAmt04511086
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0115645
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0246983
IRS990/TotalFunctionalExpensesGrp/TotalAmt0362628
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05616936
IRS990/TotalLiabilitiesEOYAmt05621904
IRS990/TotalLiabilitiesGrp/BOYAmt05616936
IRS990/TotalLiabilitiesGrp/EOYAmt05621904
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-963950
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1110818
IRS990/TotalProgramServiceExpensesAmt0246983
IRS990/TotalProgramServiceRevenueAmt0214953
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0215760
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0215760
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04652986
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04511086
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0391
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt0391
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-963950
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1110818
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/BuildTS02020-01-14 16:20:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DON G WELLONS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09108920436
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MORROW CHASE HOUSING INC
ReturnHeader/Filer/BusinessNameControlTxt0MORR
ReturnHeader/Filer/EIN0261526593
ReturnHeader/Filer/PhoneNum09108920436

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,511,086
Liabilities
$5,621,904
Net assets
-$1,110,818
Revenue
$215,760
Expenses
$362,628
Net income
-$146,868
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