Civic Intelligence

Panola Heights Housing Development Corporation

990 • Fiscal year 2015 • EIN 56-0988706

Jan 01, 2015 to Dec 31, 2015 • Filed on Jul 26, 2016

Organization ProfileN/A
P O Box 851Durham, NC 27702

(919) 493-4523

Siviq Scores

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

Liabilities / Assets

95th percentile

1.36x

Higher debt load relative to assets than 95% of similar nonprofits.

2015 filings • NTEE P • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

98th percentile

9.74x

Higher debt load relative to revenue than 98% of similar nonprofits.

2015 filings • NTEE P • $1M-$5M nonprofits • Source year 2015

Net Margin

11th percentile

-19%

Higher net margin than 11% of similar nonprofits.

2015 filings • NTEE P • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

2015 filings • NTEE P • $1M-$5M nonprofits • Source year 2015

Asset Growth

22nd percentile

-5.8%

Faster asset growth than 22% of similar nonprofits.

2015 filings • NTEE P • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

42nd percentile

1.3%

Faster revenue growth than 42% of similar nonprofits.

2015 filings • NTEE P • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$2,490,251

Down $152,310 (-5.8%) from 2014

Net Assets

Down

-$905,935

Down $64,639 (-7.7%) from 2014

Liabilities

Down

$3,396,186

Down $87,671 (-2.5%) from 2014

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin11th percentile

Revenue

Up

$348,720

Up $4,601 (+1.3%) from 2014

Expenses

Up

$413,359

Up $486 (+0.1%) from 2014

Net Income

Up

-$64,639

Up $4,115 (+6.0%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2011: $3,008,266Liabilities 2011: $4,070,916Net Assets 2011: -$1,062,6502011Assets 2012: $2,875,898Liabilities 2012: $4,029,182Net Assets 2012: -$1,153,2842012Assets 2013: $2,768,522Liabilities 2013: $4,004,638Net Assets 2013: -$1,236,1162013Assets 2014: $2,642,561Liabilities 2014: $3,483,857Net Assets 2014: -$841,2962014Assets 2015: $2,490,251Liabilities 2015: $3,396,186Net Assets 2015: -$905,9352015Assets 2021: $1,656,874Liabilities 2021: $2,928,461Net Assets 2021: -$1,271,5872021Assets 2022: $1,522,206Liabilities 2022: $2,876,550Net Assets 2022: -$1,354,3442022

Highlighted filing

2015

Assets$2,490,251
Liabilities$3,396,186
Net Assets-$905,935
Open 2015 Filing

Operations Trend

Revenue Growth42nd percentile

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

$600K$400K$200K$0-$200KExpenses 2011: $430,5002011Expenses 2012: $428,3752012Revenue 2013: $337,525Expenses 2013: $420,357Net Income 2013: -$82,8322013Revenue 2014: $344,119Expenses 2014: $412,873Net Income 2014: -$68,7542014Revenue 2015: $348,720Expenses 2015: $413,359Net Income 2015: -$64,6392015Revenue 2021: $378,097Expenses 2021: $465,329Net Income 2021: -$87,2322021Revenue 2022: $375,525Expenses 2022: $458,282Net Income 2022: -$82,7572022

Highlighted filing

2015

Revenue$348,720
Expenses$413,359
Net Income-$64,639
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jul 26, 2016
Return Version
2015v2.1
Gross Receipts
$348,720
Mission and Program Overview

Mission

To provide safe and affordable housing for low income individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,380,158$2,243,823▼ $136,335
Prepaid Expenses and Deferred Charges$21,790$26,292▲ $4,502
Accounts Receivable$7,765$1,375▼ $6,390
Total Assets$2,642,561$2,490,251▼ $152,310
Other Assets Total$232,848$218,761▼ $14,087
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,435,254$3,363,726▼ $71,528
Other Liabilities$26,553$29,145▲ $2,592
Accounts Payable and Accrued Expenses$18,516$3,103▼ $15,413
Deferred Revenue$3,534$212▼ $3,322
Total Liabilities$3,483,857$3,396,186▼ $87,671
Net Assets / Fund Balance
Unrestricted Net Assets$-841,296$-905,935▼ $64,639
Total Net Assets Fund Balance$-841,296$-905,935▼ $64,639
Total Liabilities and Net Assets / Fund Balance$2,642,561$2,490,251▼ $152,310

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,134,455$1,465,283$3,599,738
Land$76,171-$76,171
Equipment$33,197$41,545$74,742
Other Assets Org$1,972--
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Tyrone HopkinsChairman
Arthur LyonsVice Chairma
Bobby WarrenDirector
Dazzerine PittDirector
Diane JohnsonDirector
Earl MillerDirector
George TerryDirector
Grace SavageDirector
Horace HusseyDirector
Je BridgesDirector
K AndrewsDirector
Lois JohnsonDirector
Louise StevensDirector
Magnolia BryantDirector
Patricia ForemanDirector
Robert FarmerDirector
William JoynerDirector
Barbara CarterAssist. Secr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$346,757
Investment Income
$116
Other Revenue
$1,847
Change in Net Assets
$-64,639

Audited Revenue Reconciliation

Revenue per Audited Statements
$348,720
Total Revenue per Audited Statements
$348,720
Total Revenue per Form 990
$348,720
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$324,404
Salaries, Compensation, and Employee Benefits$88,955
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$146,125--$146,125
Other Salaries and Wages$40,904$40,599-$81,503
All Other Expenses$33,161$7,700-$40,861
Insurance$34,756--$34,756
Other Expenses$13,928--$13,928
Fees for Services Accounting-$11,556-$11,556
Payroll Taxes$2,930$3,305-$6,235
Office Expenses-$3,989-$3,989
Other Employee Benefits$572$645-$1,217
Total Functional Expenses$345,565$67,794$0$413,359

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$413,359
Total Expenses per Audited Statements$413,359
Total Expenses per Form 990$413,359
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
Other Laibilites$12,092
Tenant Deposits Payable$8,701
Bank Overdraft$3,677
Management Fee$2,816
Payroll Taxes Payable$1,859
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
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

“Management is performed by southern real estate managment company 2721 chapel hill blvd, durham nc 27707”

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

“The 990 is presented to the management team for review prior to filing with the irs.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Panola Heights Housing Development
EIN
56-0988706
Phone
9194934523
Address
P O BOX 851, DURHAM, NC 27702
Doing Business As
United Manor Courts

Signing Officer

Name
Howard Williams
Title
Managing Agent
Phone
9194934523
Signed
2016-07-26
Discuss with paid preparer
Yes

Organization Details

Formed
1969
Legal Domicile
Nc
Voting Board Members
18
Independent Board Members
18
Employees
2

Preparer

Firm
Thomas E Spivey CPA Pa
Address
PO BOX 1542, DURHAM, NC 27702
Preparer
Thomas E Spivey
Phone
9194843000
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01847
IRS990/OtherRevenueTotalAmt01847
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt040599
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt040904
IRS990/OtherSalariesAndWagesGrp/TotalAmt081503
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03305
IRS990/PayrollTaxesGrp/ProgramServicesAmt02930
IRS990/PayrollTaxesGrp/TotalAmt06235
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt021790
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt026292
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0SOUTHERN REAL ESTATE MANAGEMENT CO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0HOUSING ASSISTANCE-HUD
IRS990/ProgramServiceRevenueGrp/Desc1TENANT RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc2MISC. RENT REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0304466
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt141173
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt21118
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0304466
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt141173
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21118
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0156
IRS990/PYOtherExpensesAmt0328942
IRS990/PYOtherRevenueAmt02713
IRS990/PYProgramServiceRevenueAmt0341250
IRS990/PYRevenuesLessExpensesAmt0-68754
IRS990/PYSalariesCompEmpBnftPaidAmt083931
IRS990/PYTotalExpensesAmt0412873
IRS990/PYTotalRevenueAmt0344119
IRS990/ReconcilationRevenueExpnssAmt0-64639
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0116
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0156
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0172
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0185
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0196
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0825
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0348604
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0343963
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0337353
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0336365
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0326843
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01693128
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0116
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0156
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0172
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0185
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0196
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0825
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99950
IRS990ScheduleA/PublicSupportPY509Pct00.99930
IRS990ScheduleA/PublicSupportTotal509Amt01693128
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0348604
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0343963
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0337353
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0336365
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0326843
IRS990ScheduleA/Total509Grp/TotalAmt01693128
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0348720
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0344119
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0337525
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0336550
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0327039
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01693953
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt02134455
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01465283
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03599738
IRS990ScheduleD/EquipmentGrp/BookValueAmt033197
IRS990ScheduleD/EquipmentGrp/DepreciationAmt041545
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt074742
IRS990ScheduleD/ExpensesSubtotalAmt0413359
IRS990ScheduleD/LandGrp/BookValueAmt076171
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt076171
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0191598
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt114389
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt210802
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt31972
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1TENANT DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2INSURANCE ESCROW
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3RESIDUAL RECEIPTS RESERVE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt012092
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18701
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt23677
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt32816
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt41859
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER LAIBILITES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1TENANT DEPOSITS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2BANK OVERDRAFT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3MANAGEMENT FEE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4PAYROLL TAXES PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt0348720
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02243823
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0218761
IRS990ScheduleD/TotalExpensesPerForm990Amt0413359
IRS990ScheduleD/TotalLiabilityAmt029145
IRS990ScheduleD/TotalRevenuePerForm990Amt0348720
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0348720
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0413359
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT IS PERFORMED BY SOUTHERN REAL ESTATE MANAGMENT COMPANY 2721 CHAPEL HILL BLVD, DURHAM NC 27707
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS PRESENTED TO THE MANAGEMENT TEAM FOR REVIEW PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02642561
IRS990/TotalAssetsEOYAmt02490251
IRS990/TotalAssetsGrp/BOYAmt02642561
IRS990/TotalAssetsGrp/EOYAmt02490251

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,490,251
Liabilities
$3,396,186
Net assets
-$905,935
Revenue
$348,720
Expenses
$413,359
Net income
-$64,639
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$1.52$2.88$1.35$0.38$0.46$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.66$2.93$1.27$0.38$0.47$0.09
2015Detailed filing. Detailed filing data is available for this year.$2.49$3.40$0.91$0.35$0.41$0.06
2014Detailed filing. Detailed filing data is available for this year.$2.64$3.48$0.84$0.34$0.41$0.07
2013Detailed filing. Detailed filing data is available for this year.$2.77$4.00$1.24$0.34$0.42$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.88$4.03$1.15$0.43
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.01$4.07$1.06$0.43