Civic Intelligence

Purple Heart Homes Inc.

EIN 26-3516121 • 501(c)3 • Statesville, NC

Pub. 78 EligibleNTEE W30

Profile

To honor those who served by providing housing solutions and employment opportunities to qualified veterans.

755 Washington AveStatesville, NC 28687

purplehearthomesusa.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

38th percentile

0.09x

Higher debt load relative to assets than 38% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

21st percentile

0.05x

Higher debt load relative to revenue than 21% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

79th percentile

27%

Higher net margin than 79% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

46th percentile

$174,129

Higher top officer pay than 46% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

96th percentile

84%

Faster asset growth than 96% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

89th percentile

74%

Faster revenue growth than 89% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Assets

Up

$7,611,756

Up $3,465,303 (+84%) from 2023

Liabilities

Up

$654,752

Up $127,799 (+24%) from 2023

Net Assets

Up

$6,957,004

Up $3,337,504 (+92%) from 2023

Revenue

Up

$12,488,232

Up $5,291,818 (+74%) from 2023

Expenses

Up

$9,150,728

Up $1,683,542 (+23%) from 2023

Net Income

Up

$3,337,504

Up $3,608,276 (+1333%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2018: $3,425,932Liabilities 2018: $731,360Net Assets 2018: $2,694,5722018Assets 2019: $4,668,546Liabilities 2019: $849,685Net Assets 2019: $3,818,8612019Assets 2020: $4,726,749Liabilities 2020: $947,894Net Assets 2020: $3,778,8552020Assets 2021: $4,564,055Liabilities 2021: $503,667Net Assets 2021: $4,060,3882021Assets 2022: $4,674,096Liabilities 2022: $783,824Net Assets 2022: $3,890,2722022Assets 2023: $4,146,453Liabilities 2023: $526,953Net Assets 2023: $3,619,5002023Assets 2024: $7,611,756Liabilities 2024: $654,752Net Assets 2024: $6,957,0042024

Highlighted filing

2024

Assets$7,611,756
Liabilities$654,752
Net Assets$6,957,004

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2018: $3,244,923Expenses 2018: $3,204,715Net Income 2018: $40,2082018Revenue 2019: $4,379,281Expenses 2019: $3,278,288Net Income 2019: $1,100,9932019Revenue 2020: $3,033,526Expenses 2020: $3,097,062Net Income 2020: -$63,5362020Revenue 2021: $4,659,786Expenses 2021: $4,420,304Net Income 2021: $239,4822021Revenue 2022: $6,025,415Expenses 2022: $6,195,531Net Income 2022: -$170,1162022Revenue 2023: $7,196,414Expenses 2023: $7,467,186Net Income 2023: -$270,7722023Revenue 2024: $12,488,232Expenses 2024: $9,150,728Net Income 2024: $3,337,5042024

Highlighted filing

2024

Revenue$12,488,232
Expenses$9,150,728
Net Income$3,337,504

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 7, 2025
Return Version
2024v5.2
Gross Receipts
$13,377,581
Mission and Program Overview

Mission

Purple heart homes, inc. Is dedicated to providing housing for service- connected disabled veterans that is substantial in function, design, and quality, fit to welcome home the fighting men and women of america.

To honor those who served by providing housing solutions and employment opportunities to qualified veterans.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$276,355$3,555,339▲ $3,278,984
Land, Buildings, and Equipment, Net$1,366,954$1,483,480▲ $116,526
Cash and Non-Interest-Bearing Accounts$327,465$409,770▲ $82,305
Inventories for Sale or Use$160,876$159,108▼ $1,768
Investments Other Securities$69,602$77,099▲ $7,497
Prepaid Expenses and Deferred Charges$456,473$33,873▼ $422,600
Total Assets$4,146,453$7,611,756▲ $3,465,303
Other Assets Total$1,488,728$1,893,087▲ $404,359
Liabilities
Mortgage Notes Payable Secured by Investment Property$351,225$327,778▼ $23,447
Accounts Payable and Accrued Expenses$161,728$317,905▲ $156,177
Other Liabilities$14,000$9,069▼ $4,931
Total Liabilities$526,953$654,752▲ $127,799
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,368,572$3,718,617▲ $350,045
Net Assets With Donor Restrictions$250,928$3,238,387▲ $2,987,459
Total Net Assets Fund Balance$3,619,500$6,957,004▲ $3,337,504
Total Liabilities and Net Assets / Fund Balance$4,146,453$7,611,756▲ $3,465,303

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$948,411$201,115$1,149,526
Equipment$313,569$111,853$425,422
Land$221,500-$221,500
Other Assets Org$9,069--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$69,602$8,080▼ $583-$77,099
2023$60,953$14,000▼ $5,241$110$69,602
2022$72,519-▼ $11,040$526$60,953
2021$64,317-▲ $8,743$541$72,519
2020$52,000-▲ $12,817$500$64,317
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
John GallinaCEOFT$174,129$174,129
Tim MangumCAOFT$115,122$115,122
Anthony P CockerhamCDOFT$105,123$105,123
Kerry LawingCOOFT$102,633$102,633

Board Members and Trustees

NameTitle
Dave SternbergChairman
Esteban McmahanVice-chair
Charlie EadieDirector
Cj BannisterDirector
Daniel SolimanDirector
Don RettigDirector
Hala FaridDirector
John TrimbleDirector
Jose RamosDirector
Justin MaxwellDirector
Laura ForrestDirector
Michael LennonDirector
Robert BanuelosDirector
Russell RauchDirector
Ryan ReppDirector
Sherry YaskinDirector
Tommy PruittDirector
William SchiekDirector
Susan IfillSecretary
Josh GisiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$11,571,636
Program Service Revenue
$851,490
Investment Income
$-52,397
Other Revenue
$117,503
All Other Contributions
$5,382,794
Change in Net Assets
$3,337,504

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$479,784Fair Value
Real Estate Residential1$344,240Fair Value
Cars and Other Vehicles4$86,500Fair Value
Total Noncash Contributions6$910,524-

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,488,232
Total Revenue per Audited Statements
$12,488,232
Total Revenue per Form 990
$12,488,232
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,016,360
Salaries, Compensation, and Employee Benefits$2,134,368
Total Fundraising Expense$1,913,567
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,106,676$539,503$488,189$2,134,368
Advertising$19,812$3,511$756,571$779,894
All Other Expenses$238,322$90,020$256,681$585,023
Other Expenses$28,770$87,323$21,229$137,322
Office Expenses$9,469$68,578$38,010$116,057
Travel$38,375$23,824$44,172$106,371
Insurance$55,970$9,842$10,947$76,759
Depreciation Depletion$18,281$43,025-$61,306
Interest$386$14,581$117$15,084
Total Functional Expenses$6,309,547$927,614$1,913,567$9,150,728

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,150,728
Total Expenses per Audited Statements$9,150,728
Total Expenses per Form 990$9,150,728
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$188,842$188,842-$188,842
Total Events$188,842$188,842-$188,842
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$9,069
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
Yes
Management duties delegated
No

Governance Explanations

Governing body decisions Part VI line 7B

There are governance decisions of the organization reserved to management.

Governing body meeting documentation Part VI line 8A

The governing body documents meeting held.

Committee meeting documentation Part VI line 8B

The committee meeting are documented.

Form 990 governing body review Part VI line 11

Form 990 is provided to all members of the board of directors for their review and approval prior to filing.

Conflict of interest policy compliance Part VI line 12C

The organization documents its conflict of interest policies.

CEO executive director top management comp Part VI line 15A

The ceos compensation is determined by the governing board of directors.

Other officer or key employee compensation Part VI line 15B

The ceo approves compensation of key employees.

Governing documents etc available to public Part VI line 19

Form 990 , the audited financial statements and annual report are published on the organizations website. Other governing documents are available on request.

Filing and Contact Details

Filer

Filer Name
Purple Heart Homes Inc
EIN
26-3516121
In Care Of
% JOHN GALLINA
Phone
7048384044
Address
755 WASHINGTON AVE, Statesville, NC 28687

Signing Officer

Name
John Gallina
Title
CEO
Phone
7048384044
Signed
2025-08-07
Discuss with paid preparer
No

Organization Details

Principal Officer
John Gallina
Formed
2008
Legal Domicile
Nc
Voting Board Members
17
Independent Board Members
17
Employees
36

Preparer

Firm
Bas Partners LLC
Address
15800 PINES BLVD, Hollywood, FL 33027
Preparer
Aporter1
Phone
9542888450
Supplemental Narrative

Additional Explanations

General explanation attachment

Form 990, part iii, line b - program service accomplishments vaip - veterans aging in place for service-connected disabled veterans who currently own a home that no longer meets their physical needs, purple heart homes partners with local volunteers in the community with intent of restoring dignity and quality of life by creating a safe, barrier-free living environment. Renovations are provided at no cost to the veteran. Form 990, part iii, line 4a - program service accomplishments chapters (vaip) phh is expanding its reach by launching new chapters in key cities across the united states. Two recent additions - seven days for the troops and reel heroes - are dedicated to fundraising efforts that directly benefit veterans. Notably, 100% of contributions generated through reel heroes go to phh, amplifying its mission to provide robust support to those whove served. Form 990, part iii, line 4b - program service accomplishments. Form 990, part iii, line 4b - program service accomplishments vhop - veterans home opportunity program vhop is for veterans who are prepared to accept the responsibility of homeownership. The programs purpose is to provide phh veterans with newly renovated and/or modified homes that have been donated from various sources specifically for the vhop. Qualified veterans will have the opportunity to obtain a mortgage and own one of these homes at no more than 50% of the final appraised value of the home. Form 990, part iii, line 4b - program service accomplishments veteran tiny homes (vhop) veteran tiny homes will address veteran housing insecurity and even homelessness. Purple heart homes is exploring other options to not only use these tiny homes to provide housing solutions to service - connected disabled and aging veterans, but to also coordinate with state continuum of care to address the greater homelessness issue. We are exploring commercial sales options. This will be another organizational sustainability measure through which a revenue stream will be generated for phh.

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