Civic Intelligence

Cahec Capital Inc

EIN 47-1982875 • 501(c)3 • Raleigh, NC

Profile

To promote community development by providing financing and technical assistance to lihtc developers to foster healthy, empowered and sustainable housing opportunities for low- and moderate-income individuals and families. In furtherance of its mission, the corporation will partner with organizations and businesses that focus their efforts on meeting the needs of low- and moderate-income individuals and families. Emphasis will be placed on access to capital to finance a variety of activities intended to further the corporation's mission, including flexible financing programs that assist individuals and families with obtaining affordable housing.

7700 Falls of Neuse Road 200Raleigh, NC 27615

www.cahec.com

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.77x

Higher debt load relative to assets than 82% of similar nonprofits.

NTEE S • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

90th percentile

12.00x

Higher debt load relative to revenue than 90% of similar nonprofits.

NTEE S • $10M-$25M nonprofits • Source year 2024

Net Margin

57th percentile

18%

Higher net margin than 57% of similar nonprofits.

NTEE S • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

91st percentile

$754,867

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 85.4% of source-year revenue.

NTEE S • $10M-$25M nonprofits • Source year 2024

Asset Growth

96th percentile

49%

Faster asset growth than 96% of similar nonprofits.

NTEE S • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

85th percentile

54%

Faster revenue growth than 85% of similar nonprofits.

NTEE S • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$13,698,375

Up $7,650,600 (+127%) from 2022

Liabilities

Up

$10,599,068

Up $7,454,302 (+237%) from 2022

Net Assets

Up

$3,099,307

Up $196,298 (+6.8%) from 2022

Operations
Liabilities / Revenue90th percentileNet Margin57th percentile

Revenue

Up

$883,608

Up $272,493 (+45%) from 2022

Expenses

Up

$727,281

Up $529,861 (+268%) from 2022

Net Income

Down

$156,327

Down $257,368 (-62%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth96th percentile

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

$15M$10M$5.0M$0Assets 2016: $2,367,536Liabilities 2016: $2,302,018Net Assets 2016: $65,5182016Assets 2017: $4,245,414Liabilities 2017: $3,319,444Net Assets 2017: $925,9702017Assets 2020: $4,035,326Liabilities 2020: $1,662,137Net Assets 2020: $2,373,1892020Assets 2021: $6,227,865Liabilities 2021: $3,738,551Net Assets 2021: $2,489,3142021Assets 2022: $6,047,775Liabilities 2022: $3,144,766Net Assets 2022: $2,903,0092022Assets 2024: $13,698,375Liabilities 2024: $10,599,068Net Assets 2024: $3,099,3072024

Highlighted filing

2024

Assets$13,698,375
Liabilities$10,599,068
Net Assets$3,099,307
Open 2024 Filing

Operations Trend

Revenue Growth85th percentile

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

$1.5M$1.0M$500K$0Revenue 2016: $166,706Expenses 2016: $97,630Net Income 2016: $69,0762016Revenue 2017: $1,281,306Expenses 2017: $420,854Net Income 2017: $860,4522017Revenue 2020: $731,519Expenses 2020: $128,553Net Income 2020: $602,9662020Revenue 2021: $251,888Expenses 2021: $135,763Net Income 2021: $116,1252021Revenue 2022: $611,115Expenses 2022: $197,420Net Income 2022: $413,6952022Revenue 2024: $883,608Expenses 2024: $727,281Net Income 2024: $156,3272024

Highlighted filing

2024

Revenue$883,608
Expenses$727,281
Net Income$156,327
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$13,698,375
Liabilities
$10,599,068
Net assets
$3,099,307
Revenue
$883,608
Expenses
$727,281
Net income
$156,327
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.7$10.6$3.10$0.88$0.73$0.16
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.05$3.14$2.90$0.61$0.20$0.41
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.23$3.74$2.49$0.25$0.14$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.04$1.66$2.37$0.73$0.13$0.60
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.25$3.32$0.93$1.28$0.42$0.86
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.37$2.30$0.07$0.17$0.10$0.07
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 20, 2025
Return Version
2024v5.1
Gross Receipts
$883,608
Mission and Program Overview

Mission

To promote community development by providing financing and technical assistance to lihtc developers to foster healthy, empowered and sustainable housing opportunities for low- and moderate-income individuals and families. In furtherance of its mission, the corporation will partner with organizations and businesses that focus their efforts on meeting the needs of low- and moderate-income individuals and families. Emphasis will be placed on access to capital to finance a variety of activities intended to further the corporation's mission, including flexible financing programs that assist individuals and families with obtaining affordable housing.

to promote community development that fosters sustainable low-income households to foster healthy, empowered and sustainable housing opportunities for low- and moderate-income individuals and families. In furtherance of its mission, the Corporation will partner with organizations and businesses that focus their efforts on meeting the needs of low- and moderate income individuals and families. Emphasis will be placed on access to capital to finance a variety of activities intended to further the Corporation's mission, including flexible financing programs that assist individuals and families with obtaining affordable housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$8,538,839$12,697,038▲ $4,158,199
Cash and Non-Interest-Bearing Accounts$286,560$630,960▲ $344,400
Accounts Receivable$338,554$346,362▲ $7,808
Intangible Assets$742$15,153▲ $14,411
Prepaid Expenses and Deferred Charges$11,452$8,862▼ $2,590
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$9,176,147$13,698,375▲ $4,522,228
Other Assets Total$0$0→ $0
Liabilities
Unsecured Notes Loans Payable$5,912,132$10,377,632▲ $4,465,500
Accounts Payable and Accrued Expenses$250,547$140,236▼ $110,311
Other Liabilities$70,488$81,200▲ $10,712
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Total Liabilities$6,233,167$10,599,068▲ $4,365,901
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,942,980$3,099,307▲ $156,327
Total Net Assets Fund Balance$2,942,980$3,099,307▲ $156,327
Total Liabilities and Net Assets / Fund Balance$9,176,147$13,698,375▲ $4,522,228
Compensation and Service Providers
Top Officer Pay91st percentile

Board Members and Trustees

NameTitle
Paul KennedyBoard Chair
Dana BoolePresident and CEO
Robert LandisSr. Vice President/Director
Caitlin GossensDirector
Joel BrockmannDirector
Josh EarnDirector
Erin GriffinSecretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$883,608
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$156,327

Audited Revenue Reconciliation

Revenue per Audited Statements
$0
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Form 990
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$588,516
Salaries, Compensation, and Employee Benefits$138,765
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$332,155--$332,155
Other Salaries and Wages$107,755$11,973-$119,728
Fees for Services Accounting$35,500$0-$35,500
Fees for Services Other$34,218$270$0$34,488
Insurance$19,003$84-$19,087
Information Technology$16,362$1,818-$18,180
Fees for Services Legal$17,632$140-$17,772
Other Employee Benefits$9,828$2,723-$12,551
Occupancy$8,059$895-$8,954
Payroll Taxes$5,837$649-$6,486
Conferences and Meetings$4,884$431-$5,315
Office Expenses$2,518$88-$2,606
Other Expenses$1,940$38-$1,978
Advertising$1,287$143-$1,430
Total Functional Expenses$708,029$19,252$0$727,281

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Expenses per Audited Statements$0
Other Expense Adjustments$0
Total Expenses per 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
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes$81,200
Reserve for unfunded commitments-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B Review of form 990 by governing body

“The form 990 was provided to the organization's board for review and approval prior to submission.”

Form 990, Part VI, Line 12C Conflict of interest policy

“The organization's board annually reviews its conflict of interest policy.”

Form 990, Part VI, Line 15A Process to establish compensation of top management official

“THE ORGANIZATION relies on the TALENT MANAGEMENT COMMITTEE of a related party (CAHEC) that REGULARLY REVIEWS ITS PLUS POLICIES AND PROCEDURES, COMPENSATION, AND MARKET STUDIES (AS PREPARED BY ITS COMPENSATION CONSULTANT and industry specific reports). THE ORGANIZATION'S TALENT MANAGEMENT CONSULTANT HAS OVER 25 YEARS EXPERIENCE IN (I) COLLECTING, ANALYZING, AND DEVELOPING EQUITABLE PAY STRUCTURES AND (II) ASSISTING IN SELECTING AND IMPLEMENTING APPROPRIATE PAY STRUCTURES FOR EMPLOYEES. THE CONSULTANT AND CAHEC TALENT MANAGEMENT COMMITTEE PErFORM ANNUAL REVIEWS TO THE PLUS POLICY, RANGES AND SALARIES. THEY ALSO REVIEW ALL PROMOTIONS AND FUTURE NEW HIRES OF OFFICERS.”

Form 990, Part VI, Line 19 Required documents available to the public

“The organization makes its governing documents and financial statements available to the public upon request. It does not have a separate conflict of interest policy from its parent company, community affordable housing equity corporation (cahec). Cahec's conflict of interest policy is also available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
CAHEC Capital Inc
EIN
47-1982875
Phone
9194200063
Address
7700 Falls of Neuse Road 200, Raleigh, NC 27615

Signing Officer

Name
Dana Boole
Title
President
Signed
2025-09-20
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Forvis Mazars LLP
Address
4161 Piedmont Parkway Suite 310, Greensboro, NC 27410
Preparer
Kevin Rayfield
Phone
3368895156
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“CAHEC Capital, Inc. is exempt from federal taxation under Sections 501(c)(3) of the Internal Revenue Code; therefore, no income taxes are reflected in the financial statements for the Organization. AS OF DECEMBER 31, 2024, THE ORGANIZATION HAD NO ACCRUED INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE ENTITIES HAVE NOT BEEN INFORMED BY ANY TAX AUTHORITIES FOR ANY JURISDICTION THAT ANY OF ITS OPEN TAX YEARS ARE UNDER EXAMINATION AS OF DECEMBER 31, 2024.”

Raw XML AppendixShowing 400 of 4,097 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/MissionDesc0to promote community development by providing financing and technical assistance to LIHTC developers to foster healthy, empowered and sustainable housing opportunities for low- and moderate-income individuals and families. In furtherance of its mission, the Corporation will partner with organizations and businesses that focus their efforts on meeting the needs of low- and moderate income individuals and families. Emphasis will be placed on access to capital to finance a variety of activities intended to further the Corporation's mission, including flexible financing programs that assist individuals and families with obtaining affordable housing.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CAHEC Capital, Inc. is exempt from federal taxation under Sections 501(c)(3) of the Internal Revenue Code; therefore, no income taxes are reflected in the financial statements for the Organization. AS OF DECEMBER 31, 2024, THE ORGANIZATION HAD NO ACCRUED INTEREST OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. THE ENTITIES HAVE NOT BEEN INFORMED BY ANY TAX AUTHORITIES FOR ANY JURISDICTION THAT ANY OF ITS OPEN TAX YEARS ARE UNDER EXAMINATION AS OF DECEMBER 31, 2024.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote
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