Civic Intelligence

Lumber River Housing Development Incorporated

990 • Fiscal year 2023 • EIN 56-0988617

Oct 01, 2022 to Sep 30, 2023 • Filed on Feb 06, 2024

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

72nd percentile

1.17x

Higher debt load relative to assets than 72% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

52nd percentile

1.57x

Higher debt load relative to revenue than 52% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Net Margin

82nd percentile

19%

Higher net margin than 82% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

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

2023 filings • NTEE L • $1M-$5M nonprofits • Source year 2023

Asset Growth

84th percentile

12%

Faster asset growth than 84% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

74th percentile

13%

Faster revenue growth than 74% of similar nonprofits.

2023 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$1,082,450

Up $116,798 (+12%) from 2022

Net Assets

Up

-$185,479

Up $154,883 (+46%) from 2022

Liabilities

Down

$1,267,929

Down $38,085 (-2.9%) from 2022

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin82nd percentile

Revenue

Up

$809,496

Up $90,237 (+13%) from 2022

Expenses

Down

$654,613

Down $74,813 (-10%) from 2022

Net Income

Up

$154,883

Up $165,050 (+1623%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth84th 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

2023

Assets$1,082,450
Liabilities$1,267,929
Net Assets-$185,479
Open 2023 Filing

Operations Trend

Revenue Growth74th 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

2023

Revenue$809,496
Expenses$654,613
Net Income$154,883
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Feb 6, 2024
Return Version
2022v5.0
Gross Receipts
$812,054
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
Investments Program Related$369,010$507,441▲ $138,431
Land, Buildings, and Equipment, Net$481,487$453,114▼ $28,373
Prepaid Expenses and Deferred Charges$58,045$49,212▼ $8,833
Intangible Assets$21,149$19,611▼ $1,538
Accounts Receivable$12,019$16,997▲ $4,978
Cash and Non-Interest-Bearing Accounts$3,299$13,261▲ $9,962
Total Assets$965,652$1,082,450▲ $116,798
Other Assets Total$20,643$22,814▲ $2,171
Liabilities
Mortgage Notes Payable Secured by Investment Property$968,667$956,166▼ $12,501
Accounts Payable and Accrued Expenses$314,700$288,989▼ $25,711
Other Liabilities$22,647$22,774▲ $127
Total Liabilities$1,306,014$1,267,929▼ $38,085
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-340,362$-185,479▲ $154,883
Total Net Assets Fund Balance$-340,362$-185,479▲ $154,883
Total Liabilities and Net Assets / Fund Balance$965,652$1,082,450▲ $116,798

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$326,983$1,932,566$2,259,549
Land$53,877-$53,877
Investment Program Related Org$149,327--
Compensation and Service Providers
Top Officer Pay46th 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
Min Renee B GuinyardRecording Se
Dr Thomas JonesVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$556,516
Program Service Revenue
$245,118
Investment Income
$227
Other Revenue
$7,635
Change in Net Assets
$154,883

Audited Revenue Reconciliation

Revenue per Audited Statements
$809,496
Total Revenue per Audited Statements
$809,496
Total Revenue per Form 990
$809,496
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$473,828
Salaries, Compensation, and Employee Benefits$180,785
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$59,281$83,680-$142,961
Insurance$125,870--$125,870
Fees for Services Management-$57,056-$57,056
Depreciation Depletion$48,238--$48,238
Interest$35,515--$35,515
Occupancy$21,180$6,663-$27,843
Fees for Services Accounting-$26,401-$26,401
Office Expenses-$26,306-$26,306
Other Employee Benefits$10,395$14,959-$25,354
Payroll Taxes$5,113$7,357-$12,470
Fees for Services Other-$11,280-$11,280
Other Expenses$13,533$6,900-$6,900
Conferences and Meetings-$4,263-$4,263
All Other Expenses$970$2,574-$3,544
Fees for Services Legal-$181-$181
Total Functional Expenses$406,993$247,620$0$654,613

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$654,613
Total Expenses per Audited Statements$654,613
Total Expenses per Form 990$654,613
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$22,774
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
7043218076
Signed
2024-02-06
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
Volunteers
8

Preparer

Firm
Sharpe Patel CPA
Address
325 ARLINGTON AVE STE 630, CHARLOTTE, NC 28203
Preparer
Megan a Ridgley CPA
Phone
7044993893
Supplemental Narrative

Additional Explanations

Form 990

“Doing business as - additional names parkview terrace apartments”

Raw XML AppendixShowing 400 of 414 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/CurrentTaxYearMinus4YearsAmt0711225
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02356583
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt095
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt083
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0105
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02093170
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt01932566
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IRS990ScheduleD/ExpensesSubtotalAmt0654613
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1149327
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt053877
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt053877
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt022774
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0809496
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0380860
IRS990ScheduleD/TotalBookValueProgramRltdAmt0507441
IRS990ScheduleD/TotalExpensesPerForm990Amt0654613
IRS990ScheduleD/TotalLiabilityAmt022774
IRS990ScheduleD/TotalRevenuePerForm990Amt0809496
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0809496
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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
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0406993
IRS990/TotalFunctionalExpensesGrp/TotalAmt0654613
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0809496
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
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/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REV JERRY L STEPHENS SR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07043218076
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-02-06
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/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0844233121
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHARPE PATEL CPA

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,082,450
Liabilities
$1,267,929
Net assets
-$185,479
Revenue
$809,496
Expenses
$654,613
Net income
$154,883
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