Civic Intelligence

Vance County Elderly Housing

EIN 56-1336437 • 501(c)4 • Henderson, NC

Profile

To provide housing and related services to qualified elderly persons under programs supervised and subsidized by hud

351 Keene StreetHenderson, NC 27536

n/A

Siviq Scores

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

Liabilities / Assets

87th percentile

1.85x

Higher debt load relative to assets than 87% of similar nonprofits.

NTEE L • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

68th percentile

2.92x

Higher debt load relative to revenue than 68% of similar nonprofits.

NTEE L • $500k-$1M nonprofits • Source year 2024

Net Margin

68th percentile

9.1%

Higher net margin than 68% of similar nonprofits.

NTEE L • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

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

NTEE L • $500k-$1M nonprofits • Source year 2024

Asset Growth

45th percentile

-2.3%

Faster asset growth than 45% of similar nonprofits.

NTEE L • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

51st percentile

3.9%

Faster revenue growth than 51% of similar nonprofits.

NTEE L • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Down

$752,018

Down $18,071 (-2.3%) from 2023

Liabilities

Down

$1,388,611

Down $61,123 (-4.2%) from 2023

Net Assets

Up

-$636,593

Up $43,052 (+6.3%) from 2023

Revenue

Up

$475,440

Up $17,695 (+3.9%) from 2023

Expenses

Up

$432,388

Up $6,406 (+1.5%) from 2023

Net Income

Up

$43,052

Up $11,289 (+36%) from 2023

Trend Graphs

Balance Sheet Trend

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

$2.0M$1.0M$0-$1.0MAssets 2014: $975,853Liabilities 2014: $1,831,421Net Assets 2014: -$855,5682014Assets 2015: $946,595Liabilities 2015: $1,809,978Net Assets 2015: -$863,3832015Assets 2016: $914,950Liabilities 2016: $1,777,602Net Assets 2016: -$862,6522016Assets 2017: $808,563Liabilities 2017: $1,650,912Net Assets 2017: -$842,3492017Assets 2018: $783,186Liabilities 2018: $1,618,217Net Assets 2018: -$835,0312018Assets 2019: $748,522Liabilities 2019: $1,568,087Net Assets 2019: -$819,5652019Assets 2020: $745,518Liabilities 2020: $1,529,084Net Assets 2020: -$783,5662020Assets 2021: $800,684Liabilities 2021: $1,544,173Net Assets 2021: -$743,4892021Assets 2022: $782,836Liabilities 2022: $1,494,244Net Assets 2022: -$711,4082022Assets 2023: $770,089Liabilities 2023: $1,449,734Net Assets 2023: -$679,6452023Assets 2024: $752,018Liabilities 2024: $1,388,611Net Assets 2024: -$636,5932024

Highlighted filing

2024

Assets$752,018
Liabilities$1,388,611
Net Assets-$636,593

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2014: $390,803Expenses 2014: $413,909Net Income 2014: -$23,1062014Revenue 2015: $395,855Expenses 2015: $403,670Net Income 2015: -$7,8152015Revenue 2016: $425,670Expenses 2016: $424,939Net Income 2016: $7312016Revenue 2017: $407,714Expenses 2017: $387,411Net Income 2017: $20,3032017Revenue 2018: $412,993Expenses 2018: $405,675Net Income 2018: $7,3182018Revenue 2019: $420,396Expenses 2019: $408,372Net Income 2019: $12,0242019Revenue 2020: $427,399Expenses 2020: $391,400Net Income 2020: $35,9992020Revenue 2021: $441,703Expenses 2021: $351,872Net Income 2021: $89,8312021Revenue 2022: $455,693Expenses 2022: $423,612Net Income 2022: $32,0812022Revenue 2023: $457,745Expenses 2023: $425,982Net Income 2023: $31,7632023Revenue 2024: $475,440Expenses 2024: $432,388Net Income 2024: $43,0522024

Highlighted filing

2024

Revenue$475,440
Expenses$432,388
Net Income$43,052

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 11, 2025
Return Version
2023v6.0
Gross Receipts
$475,440
Mission and Program Overview

Mission

To provide housing and related services to qualified elderly persons under programs supervised and subsidized by hud.

To provide housing and related services to qualified elderly persons under programs supervised and subsidized by hud

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$394,125$447,676▲ $53,551
Land, Buildings, and Equipment, Net$270,789$231,190▼ $39,599
Intangible Assets$61,706$58,264▼ $3,442
Prepaid Expenses and Deferred Charges$12,686$8,391▼ $4,295
Cash and Non-Interest-Bearing Accounts$30,761$5,864▼ $24,897
Accounts Receivable-$633-
Pledges and Grants Receivable$22--
Total Assets$770,089$752,018▼ $18,071
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,357,787$1,357,787→ $0
Accounts Payable and Accrued Expenses$78,971$17,874▼ $61,097
Escrow Account Liability$12,929$12,905▼ $24
Other Liabilities$47$45▼ $2
Total Liabilities$1,449,734$1,388,611▼ $61,123
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-679,645$-636,593▲ $43,052
Total Net Assets Fund Balance$-679,645$-636,593▲ $43,052
Total Liabilities and Net Assets / Fund Balance$770,089$752,018▼ $18,071

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$127,052$1,581,195$1,708,247
Leasehold Improvements$0$354,381$354,381
Equipment$26,508$68,778$95,286
Land$77,630-$77,630
Investment Program Related Org$12,941--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Beatrice M WalkerPresident
Ilean H MattocksVice President
Artelia E TriceBoard Member
Ernestine GranisonBoard Member
William EvansBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$327,814
Program Service Revenue
$147,176
Investment Income
$450
Other Revenue
$0
Change in Net Assets
$43,052

Audited Revenue Reconciliation

Revenue per Audited Statements
$475,440
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$475,440
Total Revenue per Form 990
$475,440
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$338,052
Salaries, Compensation, and Employee Benefits$94,336
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$85,157--$85,157
Other Salaries and Wages$31,053$45,846-$76,899
Depreciation Depletion$53,877--$53,877
Interest$53,124--$53,124
Insurance$38,569--$38,569
Fees for Services Management-$31,499-$31,499
Occupancy$22,987$2,132-$25,119
Office Expenses-$14,356-$14,356
Other Employee Benefits$9,129--$9,129
Payroll Taxes$8,308--$8,308
Fees for Services Accounting-$8,100-$8,100
Conferences and Meetings-$5,683-$5,683
Other Expenses$4,674$5,289-$4,674
Advertising-$493-$493
Total Functional Expenses$318,990$113,398$0$432,388

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$432,388
Total Expenses per Audited Statements$432,388
Total Expenses per Form 990$432,388
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prepaid Rent Revenue$45
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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, Part VI, Section A, Line 3

The corporation has contracted with residential properties management, inc. To manage all day to day activities of the apartment complex

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

Form 990 is provided to the board of directors for review, approval, and signature for the purpose of filing the return

Form 990, Part VI, Section C, Line 19

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Vance County Elderly Housing
EIN
56-1336437
Phone
2524929091
Address
351 KEENE STREET, HENDERSON, NC 27536

Signing Officer

Name
Beatrice M Walker
Title
President
Phone
2524929091
Signed
2025-02-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Beatrice M Walker
Formed
1982
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Sharpe Patel CPA
Address
5510 SIX FORKS ROAD SUITE 140, RALEIGH, NC 27609
Preparer
Rebecca Fisher
Phone
7044993893
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contracts: program service expenses 43,570. Management and general expenses 0. Fundraising expenses 0. Total expenses 43,570. Security: program service expenses 6,060. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,060. Service coordinator expenses: program service expenses 35,527. Management and general expenses 0. Fundraising expenses 0. Total expenses 35,527.

Financial Statement Notes

PART IV, LINE 1B:

To provide housing and related services to qualified elderly persons under programs supervised and subsidized by hud

PART X, LINE 2:

The organization has been granted an exemption from federal income taxes under section 501(c)(4) of the internal revenue code. Accordingly, no provision for income taxes has been recorded. Under generally accepted accounting principles, an entity must recognize tax benefits associated with a tax position taken for tax return purposes when it is more likely than not the position will be sustained. Management has determined that the organization has no uncertain tax positions that would require the organization to record a liability for unrecognized tax benefits. Management believes that the organization's tax years ended june 30, 2023, 2022 and 2021 remain subject to examination by federal and state tax jurisdictions; however, there are currently no audits for any tax periods. The organization files a tax return annually for informational purposes only.

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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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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2RESIDUAL RECEIPTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc3TENANT SECURITY DEPOSITS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd2C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd3C
IRS990ScheduleD/LandGrp/BookValueAmt077630
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt077630
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0354381
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0354381
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt045
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENT REVENUE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0475440
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE HOUSING AND RELATED SERVICES TO QUALIFIED ELDERLY PERSONS UNDER PROGRAMS SUPERVISED AND SUBSIDIZED BY HUD
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS BEEN GRANTED AN EXEMPTION FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED. UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, AN ENTITY MUST RECOGNIZE TAX BENEFITS ASSOCIATED WITH A TAX POSITION TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE THE ORGANIZATION TO RECORD A LIABILITY FOR UNRECOGNIZED TAX BENEFITS. MANAGEMENT BELIEVES THAT THE ORGANIZATION'S TAX YEARS ENDED JUNE 30, 2023, 2022 AND 2021 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS. THE ORGANIZATION FILES A TAX RETURN ANNUALLY FOR INFORMATIONAL PURPOSES ONLY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 1B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0231190
IRS990ScheduleD/TotalBookValueProgramRltdAmt0447676
IRS990ScheduleD/TotalExpensesPerForm990Amt0432388
IRS990ScheduleD/TotalLiabilityAmt045
IRS990ScheduleD/TotalRevenuePerForm990Amt0475440
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0475440
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0432388
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION HAS CONTRACTED WITH RESIDENTIAL PROPERTIES MANAGEMENT, INC. TO MANAGE ALL DAY TO DAY ACTIVITIES OF THE APARTMENT COMPLEX
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW, APPROVAL, AND SIGNATURE FOR THE PURPOSE OF FILING THE RETURN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONTRACTS: PROGRAM SERVICE EXPENSES 43,570. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 43,570. SECURITY: PROGRAM SERVICE EXPENSES 6,060. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,060. SERVICE COORDINATOR EXPENSES: PROGRAM SERVICE EXPENSES 35,527. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 35,527.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0770089
IRS990/TotalAssetsEOYAmt0752018
IRS990/TotalAssetsGrp/BOYAmt0770089
IRS990/TotalAssetsGrp/EOYAmt0752018
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0327814
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0113398
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0318990
IRS990/TotalFunctionalExpensesGrp/TotalAmt0432388
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01449734
IRS990/TotalLiabilitiesEOYAmt01388611
IRS990/TotalLiabilitiesGrp/BOYAmt01449734
IRS990/TotalLiabilitiesGrp/EOYAmt01388611
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-679645
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-636593
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0318990
IRS990/TotalProgramServiceRevenueAmt0147176
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0450
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0147176
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0475440
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0770089
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0752018
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0351 KEENE STREET
IRS990/USAddress/CityNm0HENDERSON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027536
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BEATRICE M WALKER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02524929091
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VANCE COUNTY ELDERLY HOUSING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION T/A HERITAGE HOMES
ReturnHeader/Filer/BusinessNameControlTxt0VANC
ReturnHeader/Filer/EIN0561336437
ReturnHeader/Filer/PhoneNum02524929091
ReturnHeader/Filer/USAddress/AddressLine1Txt0351 KEENE STREET
ReturnHeader/Filer/USAddress/CityNm0HENDERSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027536
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0844233121
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHARPE PATEL CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05510 SIX FORKS ROAD SUITE 140
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RALEIGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027609
ReturnHeader/PreparerPersonGrp/PhoneNum07044993893
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0REBECCA FISHER
ReturnHeader/ReturnTs02025-03-19T17:07:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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