Civic Intelligence

Centre for Home Ownership & Economic Development Corporation I

990 • Fiscal year 2017 • EIN 27-2691355

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 26, 2018

105 W Corbin Street 103Hillsborough, NC 27278

(919) 241-4718

Siviq Scores

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

Liabilities / Assets

81st percentile

0.38x

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

2017 filings • NTEE B • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

87th percentile

0.37x

Higher debt load relative to revenue than 87% of similar nonprofits.

2017 filings • NTEE B • $500k-$1M nonprofits • Source year 2017

Net Margin

28th percentile

-2.6%

Higher net margin than 28% of similar nonprofits.

2017 filings • NTEE B • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

78th percentile

$66,000

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 9.2% of source-year revenue.

2017 filings • NTEE B • $500k-$1M nonprofits • Source year 2017

Asset Growth

38th percentile

2.4%

Faster asset growth than 38% of similar nonprofits.

2017 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

11th percentile

-24%

Faster revenue growth than 11% of similar nonprofits.

2017 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Up

$699,134

Up $16,109 (+2.4%) from 2016

Net Assets

Down

$433,390

Down $18,664 (-4.1%) from 2016

Liabilities

Up

$265,744

Up $34,773 (+15%) from 2016

Revenue

Down

$715,317

Down $227,252 (-24%) from 2016

Expenses

Up

$733,981

Up $43,047 (+6.2%) from 2016

Net Income

Down

-$18,664

Down $270,299 (-107%) from 2016

Historical Trend

Balance Sheet Trend

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

2017

Assets$699,134
Liabilities$265,744
Net Assets$433,390

Operations Trend

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

2017

Revenue$715,317
Expenses$733,981
Net Income-$18,664
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 26, 2018
Return Version
2017v2.3
Gross Receipts
$715,317
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.

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$233,070$258,170▲ $25,100
Cash and Non-Interest-Bearing Accounts$238,175$229,932▼ $8,243
Pledges and Grants Receivable$79,185$65,000▼ $14,185
Accounts Receivable-$28,775-
Other Notes and Loans Receivable, Net$9,700$9,700→ $0
Savings and Temporary Cash Investments$7,286--
Total Assets$683,025$699,134▲ $16,109
Other Assets Total$115,609$107,557▼ $8,052
Liabilities
Mortgage Notes Payable Secured by Investment Property$207,229$242,491▲ $35,262
Accounts Payable and Accrued Expenses$13,985$16,661▲ $2,676
Other Liabilities$9,757$6,592▼ $3,165
Total Liabilities$230,971$265,744▲ $34,773
Net Assets / Fund Balance
Unrestricted Net Assets$452,054$433,390▼ $18,664
Total Net Assets Fund Balance$452,054$433,390▼ $18,664
Total Liabilities and Net Assets / Fund Balance$683,025$699,134▲ $16,109

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$177,309$6,691$184,000
Other Land Buildings$46,198$30,092$76,290
Land$34,663-$34,663
Other Assets Org$107,557--
Compensation and Service Providers

Employees

NameTitleBaseTotal
James StroudExecutive Di$66,000$66,000

Board Members and Trustees

NameTitle
Howard ManningBoard Chairm
Jason HarrisVice Chairma
Arthur SprinczelesDirector
Bryce JahnerDirector
Craig ReedDirector
Daisette StroudDirector
Drew HelmDirector
Marvin MolinaDirector
Mary MooreDirector
Melvin WatsonDirector
Zach SunderlandDirector
Lakeisha WilliamsAsst Secreta
Vickie Feaster-fornvilleSecretary
Daron SatterfieldTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$349,376
Program Service Revenue
$365,923
Investment Income
$18
Other Revenue
$0
All Other Contributions
$333,406
Change in Net Assets
$-18,664

Audited Revenue Reconciliation

Revenue per Audited Statements
$715,317
Total Revenue per Audited Statements
$715,317
Total Revenue per Form 990
$715,317
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$389,251
Other Expenses$344,730
Total Fundraising Expense$38,926
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$265,152$45,497-$310,649
Current Officers, Directors, Trustees, and Key Employees$17,335$11,000$37,665$66,000
All Other Expenses$39,053$6,876-$45,929
Occupancy$38,174$6,737-$44,911
Office Expenses$27,673$4,883-$32,556
Fees for Services Other$27,859--$27,859
Travel$22,116$3,903-$26,019
Depreciation Depletion$18,142$3,202-$21,344
Fees for Services Accounting$1,855$12,317-$14,172
Other Expenses$11,312$3,553-$11,312
Payroll Taxes$7,601$1,520$1,014$10,135
Interest$9,853--$9,853
Insurance$4,733$835-$5,568
Advertising$4,637$818-$5,455
Other Employee Benefits$1,850$370$247$2,467
Fees for Services Legal$1,041--$1,041
Total Functional Expenses$593,544$101,511$38,926$733,981

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$733,981
Total Expenses per Audited Statements$733,981
Total Expenses per Form 990$733,981
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
Capital Lease$6,592
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

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Daisette stroud james stroud board member executive di spouse

Form 990, Page 6, Part VI, Line 11B

Executive committe reviews with preparer. Full board is notified that a draft is available for review upon request

Form 990, Page 6, Part VI, Line 15A

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, Page 6, Part VI, Line 15B

AS ABOVE

Form 990, Page 6, Part VI, Line 18

Form 990 is available on guidestar. Other documents are available upon request

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Centre for Homeownership & Economic
EIN
27-2691355
Phone
9192414718
Address
105 W CORBIN STREET 103, HILLSBOROUGH, NC 27278

Signing Officer

Name
Daron Satterfield
Title
Treasurer
Phone
9192414718
Signed
2018-10-26

Organization Details

Principal Officer
Howard Manning
Formed
2010
Voting Board Members
15
Independent Board Members
15
Employees
5

Preparer

Firm
Tanya S Branch Cpapa
Address
PO BOX 447, DURHAM, NC 27702-0338
Preparer
Tanya Branch CPA
Phone
9194906682
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

The centre is exempt from federal and state income taxes under section 501 (c)(3) of the internal revenue code and applicable state statues. The organization evaluates its uncertain tax positions using the provisions of asc 740-10-25, recognition of a tax position. Accordingly, the organization's policy is to record a liability for any tax position taken that is beneficial to the organization, including any related interest and penalties, when it is more likely than not the position of management with respect to a transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes there are no such positions as of december 31, 2017. Tax years subsequent to 2014 remain subject to examination by major tax jurisdictions.

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IRS990/MissionDesc0TO ENRICH AND EDUCATE LIVES BY PROVIDING HOUSING COUNSELING SERVICES,FINANCIAL LITERACY, HOME OWNERSHIP OPPORTUNITIES, JOB SERVICES, BUSINESS SOLUTIONS, AND ECONOMIC DEVELOPMENT
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0247
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0370
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt02467
IRS990/OtherExpensesGrp/Desc0REHABILITATION SERVICES
IRS990/OtherExpensesGrp/Desc1REPAIR & MAINTENANCE
IRS990/OtherExpensesGrp/Desc2TRAINING & OUTREACH
IRS990/OtherExpensesGrp/Desc3PROPERTY TAX
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IRS990/OtherExpensesGrp/ProgramServicesAmt120133
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IRS990/OtherExpensesGrp/ProgramServicesAmt311312
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IRS990/PrincipalOfficerNm0HOWARD MANNING
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IRS990/ProgramServiceRevenueGrp/Desc0FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL & OTHER
IRS990/ProgramServiceRevenueGrp/Desc2GAIN ON SALE OF PROPERTY
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IRS990/ProgramServiceRevenueGrp/ExclusionAmt115749
IRS990/ProgramServiceRevenueGrp/ExclusionAmt25824
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt115749
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt01,166
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0338891
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0137
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0137
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt01166
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0367089
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0432231
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0474616
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0338891
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IRS990ScheduleA/TotalSupportAmt02904909
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt06691
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0184000
IRS990ScheduleD/ExpensesSubtotalAmt0733981
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt034663
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0107557
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND HELD FOR FUTURE USE
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt030092
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt076290
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06592
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CAPITAL LEASE
IRS990ScheduleD/RevenueSubtotalAmt0715317
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CENTRE IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE STATUES. THE ORGANIZATION EVALUATES ITS UNCERTAIN TAX POSITIONS USING THE PROVISIONS OF ASC 740-10-25, RECOGNITION OF A TAX POSITION. ACCORDINGLY, THE ORGANIZATION'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE ORGANIZATION, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION OF MANAGEMENT WITH RESPECT TO A TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF DECEMBER 31, 2017. TAX YEARS SUBSEQUENT TO 2014 REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt0107557
IRS990ScheduleD/TotalExpensesPerForm990Amt0733981
IRS990ScheduleD/TotalLiabilityAmt06592
IRS990ScheduleD/TotalRevenuePerForm990Amt0715317
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0715317
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IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DAISETTE STROUD JAMES STROUD BOARD MEMBER EXECUTIVE DI SPOUSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXECUTIVE COMMITTE REVIEWS WITH PREPARER. FULL BOARD IS NOTIFIED THAT A DRAFT IS AVAILABLE FOR REVIEW UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AS ABOVE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990 IS AVAILABLE ON GUIDESTAR. OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0MICRO-LEND
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0CENTRE FOR ECONOMICE DEV
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0105 W CORBIN ST 103
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0HILLSBOROUGH
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd027283
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false

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