Civic Intelligence

Centre for Home Ownership & Economic Development Corporation I

990 • Fiscal year 2016 • EIN 27-2691355

Jan 01, 2016 to Dec 31, 2016 • Filed on Jul 19, 2017

Organization Profilehomeownershipcentre-ed.org
105 W Corbin StreetHillsborough, NC 27278

(919) 241-4718

Siviq Scores

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

Liabilities / Assets

79th percentile

0.34x

Higher debt load relative to assets than 79% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

81st percentile

0.25x

Higher debt load relative to revenue than 81% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Net Margin

82nd percentile

27%

Higher net margin than 82% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

78th percentile

$66,000

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 7.0% of source-year revenue.

2016 filings • NTEE B • $500k-$1M nonprofits • Source year 2016

Asset Growth

94th percentile

129%

Faster asset growth than 94% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

94th percentile

117%

Faster revenue growth than 94% of similar nonprofits.

2016 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$683,025

Up $384,572 (+129%) from 2015

Net Assets

Up

$452,054

Up $259,728 (+135%) from 2015

Liabilities

Up

$230,971

Up $124,844 (+118%) from 2015

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin82nd percentile

Revenue

Up

$942,569

Up $509,035 (+117%) from 2015

Expenses

Up

$690,934

Up $212,334 (+44%) from 2015

Net Income

Up

$251,635

Up $296,701 (+658%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$1.5M$1.0M$500K$0Assets 2013: $223,966Liabilities 2013: $1,456Net Assets 2013: $222,5102013Assets 2014: $237,392Liabilities 2014: $0Net Assets 2014: $237,3922014Assets 2015: $298,453Liabilities 2015: $106,127Net Assets 2015: $192,3262015Assets 2016: $683,025Liabilities 2016: $230,971Net Assets 2016: $452,0542016Assets 2017: $699,134Liabilities 2017: $265,744Net Assets 2017: $433,3902017Assets 2020: $691,765Liabilities 2020: $427,962Net Assets 2020: $263,8032020Assets 2021: $705,112Liabilities 2021: $400,621Net Assets 2021: $304,4912021Assets 2022: $1,002,739Liabilities 2022: $350,543Net Assets 2022: $652,1962022Assets 2023: $936,809Liabilities 2023: $352,375Net Assets 2023: $584,4342023Assets 2024: $896,680Liabilities 2024: $402,789Net Assets 2024: $493,8912024

Highlighted filing

2016

Assets$683,025
Liabilities$230,971
Net Assets$452,054
Open 2016 Filing

Operations Trend

Revenue Growth94th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2013: $539,962Expenses 2013: $339,145Net Income 2013: $200,8172013Revenue 2014: $474,616Expenses 2014: $459,734Net Income 2014: $14,8822014Revenue 2015: $433,534Expenses 2015: $478,600Net Income 2015: -$45,0662015Revenue 2016: $942,569Expenses 2016: $690,934Net Income 2016: $251,6352016Revenue 2017: $715,317Expenses 2017: $733,981Net Income 2017: -$18,6642017Revenue 2020: $694,006Expenses 2020: $706,627Net Income 2020: -$12,6212020Revenue 2021: $642,719Expenses 2021: $602,031Net Income 2021: $40,6882021Revenue 2022: $1,111,973Expenses 2022: $764,268Net Income 2022: $347,7052022Revenue 2023: $1,789,747Expenses 2023: $1,853,482Net Income 2023: -$63,7352023Revenue 2024: $1,735,638Expenses 2024: $1,926,181Net Income 2024: -$190,5432024

Highlighted filing

2016

Revenue$942,569
Expenses$690,934
Net Income$251,635
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jul 19, 2017
Return Version
2016v3.0
Gross Receipts
$942,569
Mission and Program Overview

Mission

To enrich and educate lives by providing housing counseling services, financial literacy, home ownership opportunities, job services, business solutions and economic development.

Centre for Homeownership & Economic Development Corporation, Inc.'s mission is to enrich and educate lives by providing housing counseling services, financial literacy, home ownership opportunities, job services, business solutions, and economic development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$115,706$348,679▲ $232,973
Cash and Non-Interest-Bearing Accounts$179,494$238,175▲ $58,681
Pledges and Grants Receivable-$79,185-
Other Notes and Loans Receivable, Net-$9,700-
Savings and Temporary Cash Investments$3,253$7,286▲ $4,033
Accounts Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$298,453$683,025▲ $384,572
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$90,000$207,229▲ $117,229
Accounts Payable and Accrued Expenses$2,566$13,985▲ $11,419
Other Liabilities$13,561$9,757▼ $3,804
Total Liabilities$106,127$230,971▲ $124,844
Net Assets / Fund Balance
Unrestricted Net Assets$192,326$452,054▲ $259,728
Total Net Assets Fund Balance$192,326$452,054▲ $259,728
Total Liabilities and Net Assets / Fund Balance$298,453$683,025▲ $384,572

Asset Categories

AssetBook ValueDepreciationBasis
Land$299,607-$299,607
Other Land Buildings$49,072$20,396$69,468
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseTotal
James StroudExecutive DirectorFT$66,000$66,000

Board Members and Trustees

NameTitle
Howard ManningChairman
Jason HarrisVice Chairman
Anthony SladeDirector
Arthur SprinczelesDirector
Bryce JahnerDirector
Chris RawlinsonDirector
Craig ReedDirector
Daisette StroudDirector
Drew HelmDirector
Jeff PeloquinDirector
Mary MooreDirector
Melvin WatsonDirector
Zach SunderlandDirector
Lakeisha Williams-MinorAsst Secretary
Vickie Feaster-FornvilleSecretary
Daron SatterfieldTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$942,569
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$63,175
Change in Net Assets
$251,635

Audited Revenue Reconciliation

Revenue per Audited Statements
$942,569
Total Revenue per Audited Statements
$942,569
Total Revenue per Form 990
$942,569
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$362,497
Other Expenses$322,287
Total Fundraising Expense$52,250
Grants and Similar Amounts Paid$6,150
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$240,662$25,203-$265,865
Current Officers, Directors, Trustees, and Key Employees$11,000$24,750$30,250$66,000
Occupancy$32,697$6,827$4,081$43,605
Other Expenses$37,707$26,136$11,149$37,707
Payroll Taxes$20,708$6,181$3,743$30,632
Fees for Services Other$4,850$15,545-$20,395
Travel$14,394$2,967$1,796$19,157
Fees for Services Legal-$13,204-$13,204
Insurance$7,379$881$508$8,768
Depreciation Depletion$5,795$1,194$723$7,712
Grants to Domestic Orgs$6,150--$6,150
Fees for Services Accounting-$905-$905
Total Functional Expenses$514,891$123,793$52,250$690,934

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$690,934
Total Expenses per Audited Statements$690,934
Total Expenses per Form 990$690,934
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease$9,757
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Board Director Daisette Stroud is the spouse of Executive Director James Stroud.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“The executive committee reviews the 990 with the CPA who prepared it. The full board is notified that a draft is available for their review upon request.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“All major hiring decisions are approved by the executive committee. Before making a decision, the committee reviews comparable salary data from other nonprofit organizations, guidestar, etc.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“As Above.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“The 990 is available on guidestar and from the Centre. Other documents are available upon request of the executive director.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Centre for Home Ownership
EIN
27-2691355
Phone
9192414718
Address
105 W Corbin Street, Hillsborough, NC 27278

Signing Officer

Name
Daron Satterfield
Title
Treasurer
Signed
2017-07-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Howard Manning
Formed
2010
Legal Domicile
Nc
Voting Board Members
16
Independent Board Members
15
Employees
3
Volunteers
16

Preparer

Firm
Bearmancpa Pllc
Address
124 Cavalier Dr, WILMINGTON, NC 28403-2547
Preparer
Nigel Bearman
Phone
9105080630
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“The organization is exempt from from federal income taxation under Section 501(c)(3) of the Internal Revenue Code. Additionally, it does not generate business income unrelated to its exempt purpose and therefore has made no provision for income taxes or uncertain tax positions in the financial statements. There are no federal or state tax audits of the organization in progress and CHOEDC believes it is not subject to tax examinations for fiscal years prior to 2013.”

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IRS990/Form990PartVIISectionAGrp/PersonNm0Howard Manning
IRS990/Form990PartVIISectionAGrp/PersonNm1Jason Harris
IRS990/Form990PartVIISectionAGrp/PersonNm2Daron Satterfield
IRS990/Form990PartVIISectionAGrp/PersonNm3Vickie Feaster-Fornville
IRS990/Form990PartVIISectionAGrp/PersonNm4Lakeisha Williams-Minor
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IRS990/Form990PartVIISectionAGrp/PersonNm6Craig Reed
IRS990/Form990PartVIISectionAGrp/PersonNm7Bryce Jahner
IRS990/Form990PartVIISectionAGrp/PersonNm8Zach Sunderland
IRS990/Form990PartVIISectionAGrp/PersonNm9Daisette Stroud
IRS990/Form990PartVIISectionAGrp/PersonNm10Chris Rawlinson
IRS990/Form990PartVIISectionAGrp/PersonNm11Arthur Sprinczeles
IRS990/Form990PartVIISectionAGrp/PersonNm12Anthony Slade
IRS990/Form990PartVIISectionAGrp/PersonNm13Mary Moore
IRS990/Form990PartVIISectionAGrp/PersonNm14Melvin Watson
IRS990/Form990PartVIISectionAGrp/PersonNm15Jeff Peloquin
IRS990/Form990PartVIISectionAGrp/PersonNm16James Stroud
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IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Executive Dir.
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$683,025
Liabilities
$230,971
Net assets
$452,054
Revenue
$942,569
Expenses
$690,934
Net income
$251,635
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.90$0.40$0.49$1.74$1.93$0.19
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.94$0.35$0.58$1.79$1.85$0.06
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.35$0.65$1.11$0.76$0.35
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.71$0.40$0.30$0.64$0.60$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$0.43$0.26$0.69$0.71$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.70$0.27$0.43$0.72$0.73$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.68$0.23$0.45$0.94$0.69$0.25
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.30$0.11$0.19$0.43$0.48$0.05
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.24$0.00$0.24$0.47$0.46$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$0.54$0.34$0.20