Civic Intelligence

Burlington Homes Inc.

990 • Fiscal year 2021 • EIN 46-2518059

Oct 01, 2020 to Sep 30, 2021 • Filed on Apr 26, 2022

PO Box 2380Burlington, NC 27216-2380

(336) 266-8421

Siviq Scores

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

Liabilities / Assets

61st percentile

0.92x

Higher debt load relative to assets than 61% of similar nonprofits.

2021 filings • NTEE L • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

71st percentile

6.22x

Higher debt load relative to revenue than 71% of similar nonprofits.

2021 filings • NTEE L • $5M-$10M nonprofits • Source year 2021

Net Margin

63rd percentile

9.8%

Higher net margin than 63% of similar nonprofits.

2021 filings • NTEE L • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

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

2021 filings • NTEE L • $5M-$10M nonprofits • Source year 2021

Asset Growth

54th percentile

0.2%

Faster asset growth than 54% of similar nonprofits.

2021 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

56th percentile

4.6%

Faster revenue growth than 56% of similar nonprofits.

2021 filings • NTEE L • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$5,979,388

Up $10,081 (+0.2%) from 2020

Net Assets

Up

$482,025

Up $86,364 (+22%) from 2020

Liabilities

Down

$5,497,363

Down $76,283 (-1.4%) from 2020

Revenue

Up

$883,707

Up $38,924 (+4.6%) from 2020

Expenses

Down

$797,343

Down $362,033 (-31%) from 2020

Net Income

Up

$86,364

Up $400,957 (+127%) from 2020

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2013: $1Liabilities 2013: $02013Assets 2014: $4,864,993Liabilities 2014: $3,067,225Net Assets 2014: $1,797,7682014Assets 2015: $7,180,486Liabilities 2015: $5,562,854Net Assets 2015: $1,617,6322015Assets 2016: $6,985,972Liabilities 2016: $5,682,610Net Assets 2016: $1,303,3622016Assets 2017: $6,584,661Liabilities 2017: $5,510,875Net Assets 2017: $1,073,7862017Assets 2018: $6,306,000Liabilities 2018: $5,427,768Net Assets 2018: $878,2322018Assets 2019: $6,090,764Liabilities 2019: $5,380,510Net Assets 2019: $710,2542019Assets 2020: $5,969,307Liabilities 2020: $5,573,646Net Assets 2020: $395,6612020Assets 2021: $5,979,388Liabilities 2021: $5,497,363Net Assets 2021: $482,0252021Assets 2022: $5,958,599Liabilities 2022: $5,415,102Net Assets 2022: $543,4972022Assets 2023: $5,904,095Liabilities 2023: $5,323,082Net Assets 2023: $581,0132023Assets 2024: $5,890,578Liabilities 2024: $5,262,751Net Assets 2024: $627,8272024

Highlighted filing

2021

Assets$5,979,388
Liabilities$5,497,363
Net Assets$482,025

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2014: $2,399,652Expenses 2014: $601,884Net Income 2014: $1,797,7682014Revenue 2015: $584,527Expenses 2015: $764,663Net Income 2015: -$180,1362015Revenue 2016: $709,971Expenses 2016: $1,024,241Net Income 2016: -$314,2702016Revenue 2017: $867,691Expenses 2017: $1,097,267Net Income 2017: -$229,5762017Revenue 2018: $822,436Expenses 2018: $1,019,498Net Income 2018: -$197,0622018Revenue 2019: $830,371Expenses 2019: $998,349Net Income 2019: -$167,9782019Revenue 2020: $844,783Expenses 2020: $1,159,376Net Income 2020: -$314,5932020Revenue 2021: $883,707Expenses 2021: $797,343Net Income 2021: $86,3642021Revenue 2022: $904,169Expenses 2022: $842,697Net Income 2022: $61,4722022Revenue 2023: $902,516Expenses 2023: $865,000Net Income 2023: $37,5162023Revenue 2024: $1,100,352Expenses 2024: $1,053,538Net Income 2024: $46,8142024

Highlighted filing

2021

Revenue$883,707
Expenses$797,343
Net Income$86,364
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Apr 26, 2022
Return Version
2020v4.2
Gross Receipts
$883,707
Mission and Program Overview

Mission

To provide affordable housing for low and very low income elderly and disabled persons in a 100 unit apartment complex located in Burlington, NC.

To provide housing for low and very low income elderly and disabled persons in a 100-unit apartment complex located in burlington, nc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,070,282$4,826,761▼ $243,521
Savings and Temporary Cash Investments$444,827$514,360▲ $69,533
Cash and Non-Interest-Bearing Accounts$269,875$488,073▲ $218,198
Intangible Assets$51,295$50,013▼ $1,282
Accounts Receivable$73,221$49,909▼ $23,312
Prepaid Expenses and Deferred Charges$20,760$8,556▼ $12,204
Inventories for Sale or Use$4,047$6,716▲ $2,669
Total Assets$5,969,307$5,979,388▲ $10,081
Other Assets Total$35,000$35,000→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,495,100$5,412,237▼ $82,863
Other Liabilities$61,900$49,699▼ $12,201
Accounts Payable and Accrued Expenses$16,279$27,303▲ $11,024
Deferred Revenue$367$8,124▲ $7,757
Total Liabilities$5,573,646$5,497,363▼ $76,283
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$395,661$482,025▲ $86,364
Total Net Assets Fund Balance$395,661$482,025▲ $86,364
Total Liabilities and Net Assets / Fund Balance$5,969,307$5,979,388▲ $10,081

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,663,179$1,802,447$6,465,626
Other Land Buildings$76,069$99,215$175,284
Equipment$1,913$125,445$127,358
Land$85,600-$85,600
Compensation and Service Providers

Board Members and Trustees

NameTitle
Alise NappChairwoman
Veronica RevelsPresident
Patrick MillsVice Chair
Charles CarterTrustee
Lashauna AustriaTrustee
Melinda FreemanTrustee
Michael GravesTrustee
Jobina LanierSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$435,729
Program Service Revenue
$416,953
Investment Income
$409
Other Revenue
$30,616
Change in Net Assets
$86,364

Audited Revenue Reconciliation

Revenue per Audited Statements
$883,707
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$883,707
Total Revenue per Form 990
$883,707
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$797,343
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$244,803--$244,803
Interest$130,975--$130,975
Occupancy$73,275--$73,275
Fees for Services Management$57,885--$57,885
Insurance$41,130--$41,130
All Other Expenses$29,470$2,416-$31,886
Office Expenses$25,488--$25,488
Other Expenses$14,868--$14,868
Fees for Services Accounting-$13,400-$13,400
Advertising$1,921--$1,921
Fees for Services Legal$140--$140
Total Functional Expenses$781,527$15,816$0$797,343

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$797,343
Total Expenses per Audited Statements$797,343
Total Expenses per Form 990$797,343
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$30,108
Miscellaneous Long Term Liabilities$19,591
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Reviewed with the corporate secretary before form 990 is finalized.

Form 990, Part VI, Section C, Line 19

All documents not restricted by federal or north carolina privacy act requirements are available upon request to the executive director.

Filing and Contact Details

Filer

Filer Name
Burlington Homes Inc
EIN
46-2518059
Phone
3362668421
Address
PO BOX 2380, BURLINGTON, NC 27216-2380

Signing Officer

Name
Veronica Revels
Title
Secretary
Phone
3362668421
Signed
2022-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Veronica Revels
Formed
2013
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Bernard Robinson & Company Llp
Address
PO BOX 19608, GREENSBORO, NC 27419-9608
Preparer
Greta G Meads
Phone
3362944494
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IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0447569
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0444827
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0514360
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0435729
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0425416
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0439355
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0433100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0404386
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02137986
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0409
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0620
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0589
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0557
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0374
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02549
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02016219
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt030616
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt029286
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt02332
IRS990ScheduleA/OtherIncome170Grp/TotalAmt062234
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97060
IRS990ScheduleA/PublicSupportPY170Pct00.98390
IRS990ScheduleA/PublicSupportTotal170Amt02137986
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0435729
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0425416
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0439355
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0433100
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0404386
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02137986
IRS990ScheduleA/TotalSupportAmt02202769
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt04663179
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01802447
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06465626
IRS990ScheduleD/EquipmentGrp/BookValueAmt01913
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0125445
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0127358
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0797343
IRS990ScheduleD/LandGrp/BookValueAmt085600
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt085600
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt076069
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt099215
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0175284
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt030108
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt119591
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1MISCELLANEOUS LONG TERM LIABILITIES
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0883707
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04826761
IRS990ScheduleD/TotalExpensesPerForm990Amt0797343
IRS990ScheduleD/TotalLiabilityAmt049699
IRS990ScheduleD/TotalRevenuePerForm990Amt0883707
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0883707
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0797343
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEWED WITH THE CORPORATE SECRETARY BEFORE FORM 990 IS FINALIZED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DOCUMENTS NOT RESTRICTED BY FEDERAL OR NORTH CAROLINA PRIVACY ACT REQUIREMENTS ARE AVAILABLE UPON REQUEST TO THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0BURLINGTON HOUSING AUTHORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0560898732
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROVIDE SAFE, AFFORDABLE HOUSING FOR FAMILIES, SENIORS, AND DISABLED
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0133 N IRELAND STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BURLINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027217
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt063885
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0BURLINGTON HOUSING AUTHORITY
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt05969307
IRS990/TotalAssetsEOYAmt05979388
IRS990/TotalAssetsGrp/BOYAmt05969307
IRS990/TotalAssetsGrp/EOYAmt05979388
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0435729
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt015816
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0781527
IRS990/TotalFunctionalExpensesGrp/TotalAmt0797343
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05573646
IRS990/TotalLiabilitiesEOYAmt05497363
IRS990/TotalLiabilitiesGrp/BOYAmt05573646
IRS990/TotalLiabilitiesGrp/EOYAmt05497363
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0395661

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.89$5.26$0.63$1.10$1.05$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.90$5.32$0.58$0.90$0.87$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.96$5.42$0.54$0.90$0.84$0.06
2021Detailed filing. Detailed filing data is available for this year.$5.98$5.50$0.48$0.88$0.80$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.97$5.57$0.40$0.84$1.16$0.31
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.09$5.38$0.71$0.83$1.00$0.17
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.31$5.43$0.88$0.82$1.02$0.20
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.58$5.51$1.07$0.87$1.10$0.23
2016Detailed filing. Detailed filing data is available for this year.$6.99$5.68$1.30$0.71$1.02$0.31
2015Detailed filing. Detailed filing data is available for this year.$7.18$5.56$1.62$0.58$0.76$0.18
2014Detailed filing. Detailed filing data is available for this year.$4.86$3.07$1.80$2.40$0.60$1.80
2013Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00