Civic Intelligence

Lumber River Housing Development Incorporated

990 • Fiscal year 2021 • EIN 56-0988617

Oct 01, 2020 to Sep 30, 2021 • Filed on Jan 29, 2021

Organization ProfileN/A
1000 Parkview DriveLumberton, NC 28358

(910) 814-7338

Siviq Scores

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

Liabilities / Assets

75th percentile

1.37x

Higher debt load relative to assets than 75% of similar nonprofits.

2021 filings • NTEE L • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

55th percentile

1.71x

Higher debt load relative to revenue than 55% of similar nonprofits.

2021 filings • NTEE L • $500k-$1M nonprofits • Source year 2021

Net Margin

60th percentile

4.2%

Higher net margin than 60% of similar nonprofits.

2021 filings • NTEE L • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

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

2021 filings • NTEE L • $500k-$1M nonprofits • Source year 2021

Asset Growth

68th percentile

2.6%

Faster asset growth than 68% of similar nonprofits.

2021 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

59th percentile

3.9%

Faster revenue growth than 59% of similar nonprofits.

2021 filings • NTEE L • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$950,525

Up $24,088 (+2.6%) from 2020

Net Assets

Up

-$353,102

Up $32,001 (+8.3%) from 2020

Liabilities

Down

$1,303,627

Down $7,913 (-0.6%) from 2020

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin60th percentile

Revenue

Up

$763,647

Up $28,334 (+3.9%) from 2020

Expenses

Up

$731,646

Up $42,579 (+6.2%) from 2020

Net Income

Down

$32,001

Down $14,245 (-31%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth68th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2011: $991,969Liabilities 2011: $1,324,377Net Assets 2011: -$332,4082011Assets 2012: $986,120Liabilities 2012: $1,316,910Net Assets 2012: -$330,7902012Assets 2013: $993,966Liabilities 2013: $1,305,889Net Assets 2013: -$311,9232013Assets 2014: $966,382Liabilities 2014: $1,271,194Net Assets 2014: -$304,8122014Assets 2015: $975,952Liabilities 2015: $1,281,451Net Assets 2015: -$305,4992015Assets 2016: $976,960Liabilities 2016: $1,277,993Net Assets 2016: -$301,0332016Assets 2017: $981,530Liabilities 2017: $1,313,323Net Assets 2017: -$331,7932017Assets 2018: $1,010,667Liabilities 2018: $1,351,533Net Assets 2018: -$340,8662018Assets 2019: $914,495Liabilities 2019: $1,345,844Net Assets 2019: -$431,3492019Assets 2020: $926,437Liabilities 2020: $1,311,540Net Assets 2020: -$385,1032020Assets 2021: $950,525Liabilities 2021: $1,303,627Net Assets 2021: -$353,1022021Assets 2022: $965,652Liabilities 2022: $1,306,014Net Assets 2022: -$340,3622022Assets 2023: $1,082,450Liabilities 2023: $1,267,929Net Assets 2023: -$185,4792023Assets 2024: $1,178,667Liabilities 2024: $1,256,374Net Assets 2024: -$77,7072024

Highlighted filing

2021

Assets$950,525
Liabilities$1,303,627
Net Assets-$353,102
Open 2021 Filing

Operations Trend

Revenue Growth59th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $620,920Expenses 2011: $635,287Net Income 2011: -$14,3672011Expenses 2012: $633,1552012Expenses 2013: $627,4852013Revenue 2014: $656,870Expenses 2014: $649,759Net Income 2014: $7,1112014Revenue 2015: $670,369Expenses 2015: $671,056Net Income 2015: -$6872015Revenue 2016: $686,659Expenses 2016: $682,193Net Income 2016: $4,4662016Revenue 2017: $834,805Expenses 2017: $865,704Net Income 2017: -$30,8992017Revenue 2018: $714,336Expenses 2018: $723,409Net Income 2018: -$9,0732018Revenue 2019: $711,330Expenses 2019: $801,813Net Income 2019: -$90,4832019Revenue 2020: $735,313Expenses 2020: $689,067Net Income 2020: $46,2462020Revenue 2021: $763,647Expenses 2021: $731,646Net Income 2021: $32,0012021Revenue 2022: $719,259Expenses 2022: $729,426Net Income 2022: -$10,1672022Revenue 2023: $809,496Expenses 2023: $654,613Net Income 2023: $154,8832023Revenue 2024: $809,166Expenses 2024: $701,397Net Income 2024: $107,7692024

Highlighted filing

2021

Revenue$763,647
Expenses$731,646
Net Income$32,001
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Jan 29, 2021
Return Version
2020v4.0
Gross Receipts
$763,647
Mission and Program Overview

Mission

Provide housing to qualified low to moderate income families under programs supervised and subsidized by hud.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$557,297$528,317▼ $28,980
Investments Program Related$237,065$291,103▲ $54,038
Cash and Non-Interest-Bearing Accounts$67,253$64,964▼ $2,289
Intangible Assets$24,225$22,687▼ $1,538
Prepaid Expenses and Deferred Charges$11,681$12,179▲ $498
Accounts Receivable$6,151$9,952▲ $3,801
Total Assets$926,437$950,525▲ $24,088
Other Assets Total$22,765$21,323▼ $1,442
Liabilities
Mortgage Notes Payable Secured by Investment Property$991,365$980,384▼ $10,981
Other Liabilities$241,512$240,648▼ $864
Accounts Payable and Accrued Expenses$78,663$82,595▲ $3,932
Total Liabilities$1,311,540$1,303,627▼ $7,913
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-385,103$-353,102▲ $32,001
Total Net Assets Fund Balance$-385,103$-353,102▲ $32,001
Total Liabilities and Net Assets / Fund Balance$926,437$950,525▲ $24,088

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$265,363$1,792,710$2,058,073
Equipment$77,361$431,025$508,386
Leasehold Improvements$130,043$71,434$201,477
Other Land Buildings$1,673$110,112$111,785
Land$53,877-$53,877
Investment Program Related Org$46,742--
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Rev Jerry L Stephens SrPresident
Michael VaughanDirector
Rev Sammy L ShropshireDirector
Rev Vista JonesDirector
Rev Tyrone Watson SrChaplain
Rev Jerome BillupsModerator
Rev Renee B GuinyardSecretary/tr
Dr Thomas JonesVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$749,910
Investment Income
$83
Other Revenue
$13,654
Change in Net Assets
$32,001

Audited Revenue Reconciliation

Revenue per Audited Statements
$763,647
Total Revenue per Audited Statements
$763,647
Total Revenue per Form 990
$763,647
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$512,086
Salaries, Compensation, and Employee Benefits$219,560
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$116,830$66,407-$183,237
Fees for Services Management-$68,695-$68,695
Insurance$59,001--$59,001
Occupancy$3,513$52,175-$55,688
Depreciation Depletion$49,899--$49,899
Interest$38,048--$38,048
Other Employee Benefits$22,671--$22,671
All Other Expenses$12,142$10,150-$22,292
Office Expenses-$14,925-$14,925
Payroll Taxes$13,652--$13,652
Fees for Services Accounting-$11,700-$11,700
Other Expenses$10,350--$10,350
Fees for Services Legal-$690-$690
Advertising-$612-$612
Conferences and Meetings-$534-$534
Total Functional Expenses$505,758$225,888$0$731,646

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$731,646
Total Expenses per Audited Statements$731,646
Total Expenses per Form 990$731,646
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
Accrued Interest$219,780
Tenant Security Deposits$20,868
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The board of directors of parkview terrace apartments has contracted with residential properties management, inc to manage all day to day operations of the housing complex. The terms and conditions of the contract are detailed in the management agreement between the two parties.”

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

“Form 990 is provided to the board for review and signature for the purpose of filing the return.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Lumber River Housing Development
EIN
56-0988617
Phone
9108147338
Address
1000 PARKVIEW DRIVE, LUMBERTON, NC 28358
Doing Business As
Parkview Terrace Apartments

Signing Officer

Name
Rev Jerry L Stephens Sr
Title
President
Phone
9108147338
Signed
2021-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rev Jerry L Stephens Sr
Formed
1968
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Sharpe Patel CPA
Address
325 ARLINGTON AVE STE 510, CHARLOTTE, NC 28203-4489
Preparer
Megan Rushford CPA
Phone
7044993893
Supplemental Narrative

Additional Explanations

Form 990

“Doing business as - additional names parkview terrace apartments”

Raw XML AppendixShowing 400 of 409 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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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0674287
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02656676
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt083
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt086
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0105
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt075
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt083
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0432
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01646570
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IRS990ScheduleA/PublicSupportCY170Pct00.99980
IRS990ScheduleA/PublicSupportPY170Pct00.99990
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0674287
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02656676
IRS990ScheduleA/TotalSupportAmt02657108
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0265363
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01792710
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02058073
IRS990ScheduleD/EquipmentGrp/BookValueAmt077361
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0431025
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0508386
IRS990ScheduleD/ExpensesSubtotalAmt0731646
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0244361
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt146742
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt053877
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt053877
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0130043
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt071434
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0201477
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01673
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0110112
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0111785
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0219780
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120868
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0763647
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0528317
IRS990ScheduleD/TotalBookValueProgramRltdAmt0291103
IRS990ScheduleD/TotalExpensesPerForm990Amt0731646
IRS990ScheduleD/TotalLiabilityAmt0240648
IRS990ScheduleD/TotalRevenuePerForm990Amt0763647
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0763647
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IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DOING BUSINESS AS - ADDITIONAL NAMES PARKVIEW TERRACE APARTMENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS OF PARKVIEW TERRACE APARTMENTS HAS CONTRACTED WITH RESIDENTIAL PROPERTIES MANAGEMENT, INC TO MANAGE ALL DAY TO DAY OPERATIONS OF THE HOUSING COMPLEX. THE TERMS AND CONDITIONS OF THE CONTRACT ARE DETAILED IN THE MANAGEMENT AGREEMENT BETWEEN THE TWO PARTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW AND SIGNATURE FOR THE PURPOSE OF FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt0926437
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0225888
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0505758
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IRS990/TotalGrossUBIAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01000 PARKVIEW DRIVE
IRS990/USAddress/CityNm0LUMBERTON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028358
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REV JERRY L STEPHENS SR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09108147338
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-01-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LUMBER RIVER HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INCORPORATED
ReturnHeader/Filer/BusinessNameControlTxt0LUMB
ReturnHeader/Filer/EIN0560988617
ReturnHeader/Filer/PhoneNum09108147338
ReturnHeader/Filer/USAddress/AddressLine1Txt01000 PARKVIEW DRIVE
ReturnHeader/Filer/USAddress/CityNm0LUMBERTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028358
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0844233121
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHARPE PATEL CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0325 ARLINGTON AVE STE 510
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHARLOTTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0282034489
ReturnHeader/PreparerPersonGrp/PhoneNum07044993893

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$950,525
Liabilities
$1,303,627
Net assets
-$353,102
Revenue
$763,647
Expenses
$731,646
Net income
$32,001
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.18$1.26$0.08$0.81$0.70$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.08$1.27$0.19$0.81$0.65$0.15
2022Detailed filing. Detailed filing data is available for this year.$0.97$1.31$0.34$0.72$0.73$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.95$1.30$0.35$0.76$0.73$0.03
2020Detailed filing. Detailed filing data is available for this year.$0.93$1.31$0.39$0.74$0.69$0.05
2019Detailed filing. Detailed filing data is available for this year.$0.91$1.35$0.43$0.71$0.80$0.09
2018Detailed filing. Detailed filing data is available for this year.$1.01$1.35$0.34$0.71$0.72$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.98$1.31$0.33$0.83$0.87$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.98$1.28$0.30$0.69$0.68$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.98$1.28$0.31$0.67$0.67$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.97$1.27$0.30$0.66$0.65$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$1.31$0.31$0.63
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$1.32$0.33$0.63
2011Summary only. Only limited summary data is available for this year.$0.99$1.32$0.33$0.62$0.64$0.01