Civic Intelligence

Franklin-Vance-Warren Housing Of

EIN 56-1414532 • 501(c)3 • Henderson, NC

Profile

To provide low income housing for the elderly.

180 S Beckford DriveHenderson, NC 27536

n/A

Siviq Scores

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

Liabilities / Assets

97th percentile

1.82x

Higher debt load relative to assets than 97% of similar nonprofits.

NTEE S • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

90th percentile

2.97x

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

NTEE S • $1M-$5M nonprofits • Source year 2025

Net Margin

59th percentile

9.8%

Higher net margin than 59% of similar nonprofits.

NTEE S • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

NTEE S • $1M-$5M nonprofits • Source year 2025

Asset Growth

71st percentile

15%

Faster asset growth than 71% of similar nonprofits.

NTEE S • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

67th percentile

19%

Faster revenue growth than 67% of similar nonprofits.

NTEE S • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Up

$1,164,251

Up $154,812 (+15%) from 2024

Liabilities

Up

$2,122,572

Up $84,759 (+4.2%) from 2024

Net Assets

Up

-$958,321

Up $70,053 (+6.8%) from 2024

Revenue

Up

$715,371

Up $115,014 (+19%) from 2024

Expenses

Down

$645,318

Down $29,022 (-4.3%) from 2024

Net Income

Up

$70,053

Up $144,036 (+195%) from 2024

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2011: $1,948,592Liabilities 2011: $2,690,781Net Assets 2011: -$742,1892011Assets 2012: $1,917,708Liabilities 2012: $2,678,828Net Assets 2012: -$761,1202012Assets 2013: $1,754,721Liabilities 2013: $2,548,640Net Assets 2013: -$793,9192013Assets 2014: $1,699,321Liabilities 2014: $2,498,087Net Assets 2014: -$798,7662014Assets 2015: $1,612,499Liabilities 2015: $2,446,858Net Assets 2015: -$834,3592015Assets 2016: $1,600,914Liabilities 2016: $2,435,794Net Assets 2016: -$834,8802016Assets 2017: $1,508,249Liabilities 2017: $2,383,319Net Assets 2017: -$875,0702017Assets 2018: $1,318,938Liabilities 2018: $2,295,786Net Assets 2018: -$976,8482018Assets 2019: $1,288,573Liabilities 2019: $2,246,702Net Assets 2019: -$958,1292019Assets 2020: $1,284,304Liabilities 2020: $2,255,671Net Assets 2020: -$971,3672020Assets 2021: $1,244,086Liabilities 2021: $2,198,376Net Assets 2021: -$954,2902021Assets 2022: $1,209,066Liabilities 2022: $2,129,899Net Assets 2022: -$920,8332022Assets 2023: $1,123,828Liabilities 2023: $2,078,219Net Assets 2023: -$954,3912023Assets 2024: $1,009,439Liabilities 2024: $2,037,813Net Assets 2024: -$1,028,3742024Assets 2025: $1,164,251Liabilities 2025: $2,122,572Net Assets 2025: -$958,3212025

Highlighted filing

2025

Assets$1,164,251
Liabilities$2,122,572
Net Assets-$958,321

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $272,171Expenses 2011: $277,096Net Income 2011: -$4,9252011Revenue 2012: $264,798Expenses 2012: $283,729Net Income 2012: -$18,9312012Revenue 2013: $231,695Expenses 2013: $264,494Net Income 2013: -$32,7992013Revenue 2014: $251,181Expenses 2014: $256,028Net Income 2014: -$4,8472014Revenue 2015: $508,243Expenses 2015: $538,177Net Income 2015: -$29,9342015Revenue 2016: $502,652Expenses 2016: $503,173Net Income 2016: -$5212016Revenue 2017: $463,519Expenses 2017: $503,709Net Income 2017: -$40,1902017Revenue 2018: $502,328Expenses 2018: $604,106Net Income 2018: -$101,7782018Revenue 2019: $527,543Expenses 2019: $508,824Net Income 2019: $18,7192019Revenue 2020: $533,288Expenses 2020: $546,526Net Income 2020: -$13,2382020Revenue 2021: $572,055Expenses 2021: $554,978Net Income 2021: $17,0772021Revenue 2022: $581,622Expenses 2022: $548,165Net Income 2022: $33,4572022Revenue 2023: $580,512Expenses 2023: $614,070Net Income 2023: -$33,5582023Revenue 2024: $600,357Expenses 2024: $674,340Net Income 2024: -$73,9832024Revenue 2025: $715,371Expenses 2025: $645,318Net Income 2025: $70,0532025

Highlighted filing

2025

Revenue$715,371
Expenses$645,318
Net Income$70,053

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.16$2.12$0.96$0.72$0.65$0.07
2024Detailed filing. Detailed filing data is available for this year.$1.01$2.04$1.03$0.60$0.67$0.07
2023Detailed filing. Detailed filing data is available for this year.$1.12$2.08$0.95$0.58$0.61$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.21$2.13$0.92$0.58$0.55$0.03
2021Detailed filing. Detailed filing data is available for this year.$1.24$2.20$0.95$0.57$0.55$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.28$2.26$0.97$0.53$0.55$0.01
2019Summary only. Only limited summary data is available for this year.$1.29$2.25$0.96$0.53$0.51$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.32$2.30$0.98$0.50$0.60$0.10
2017Detailed filing. Detailed filing data is available for this year.$1.51$2.38$0.88$0.46$0.50$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.60$2.44$0.83$0.50$0.50$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.61$2.45$0.83$0.51$0.54$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.70$2.50$0.80$0.25$0.26$0.00
2013Summary only. Only limited summary data is available for this year.$1.75$2.55$0.79$0.23$0.26$0.03
2012Summary only. Only limited summary data is available for this year.$1.92$2.68$0.76$0.26$0.28$0.02
2011Summary only. Only limited summary data is available for this year.$1.95$2.69$0.74$0.27$0.28$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Jan 26, 2026
Return Version
2024v5.5
Gross Receipts
$720,898
Mission and Program Overview

Mission

To provide low income housing for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$568,997$546,365▼ $22,632
Accounts Receivable$5,788$125,352▲ $119,564
Prepaid Expenses and Deferred Charges$32,764$101,783▲ $69,019
Cash and Non-Interest-Bearing Accounts$8,950$3,516▼ $5,434
Total Assets$1,009,439$1,164,251▲ $154,812
Other Assets Total$392,940$387,235▼ $5,705
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,900,768$1,827,997▼ $72,771
Other Liabilities$115,326$242,931▲ $127,605
Accounts Payable and Accrued Expenses$17,834$48,937▲ $31,103
Deferred Revenue$3,885$2,707▼ $1,178
Total Liabilities$2,037,813$2,122,572▲ $84,759
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,028,374$-958,321▲ $70,053
Total Net Assets Fund Balance$-1,028,374$-958,321▲ $70,053
Total Liabilities and Net Assets / Fund Balance$1,009,439$1,164,251▲ $154,812

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$405,034$2,325,080$2,730,114
Equipment$41,689$185,008$226,697
Other Land Buildings$10,727$91,893$102,620
Land$88,915-$88,915
Other Assets Org$23,142--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dr Tony CozartChairperson
Tare Davis1st Vice Chair
Victor Hunt2nd Vice Chair
Al CooperBoard Member
Alfred RichardsonBoard Member
Carolyn FainesBoard Member
James R JonesBoard Member
James SpeedBoard Member
Joseph FoggBoard Member
Lanisha HintonBoard Member
Leo KelleyBoard Member
Sean AlstonBoard Member
Sue HinmanBoard Member
Rev James O VandergriftChaplain
Minnie VaughanParliamentarian
Dr Richard HendersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$467,635
Program Service Revenue
$252,695
Investment Income
$-5,324
Other Revenue
$365
Change in Net Assets
$70,053

Audited Revenue Reconciliation

Revenue per Audited Statements
$720,898
Revenue Not Reported on Financial Statements
$-5,527
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-5,527
Total Revenue per Audited Statements
$720,898
Total Revenue per Form 990
$715,371
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$645,318
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$101,815--$101,815
Depreciation Depletion$88,649--$88,649
Insurance$73,975--$73,975
All Other Expenses$66,716$3,898-$70,614
Occupancy$44,022--$44,022
Fees for Services Management$42,627--$42,627
Fees for Services Accounting-$27,798-$27,798
Other Expenses$22,460--$22,460
Office Expenses$21,350--$21,350
Total Functional Expenses$613,622$31,696$0$645,318

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$650,845
Expenses per Audited Statements$645,318
Total Expenses per Form 990$645,318
Expenses Not Reported on Form 990$5,527
Expenses Not Reported on Financial Statements$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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advance Due to Related Party$117,074
Advances, Affiliate of Managing Agent$105,654
Tenant Security Deposit$20,203
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
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 board of directors has delegated the management of the rental apartments to multifamily select, inc. The apartment complex is regulated by u.s. Department of housing and urban development as to rent charges and operating methods. Multifamily select was chosen due to its experience in management under these guidelines.

Form 990, Part VI, Section A, Line 8B

There are no committees with authority to act on behalf of the governing body and therefore no meetings to document.

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

The executive director of franklin-vance-warren opportunity, inc. Reviews the form 990 with the audited financial statements before filing. The full board will receive a copy to review after filing.

Form 990, Part VI, Section B, Line 12C

All involved are required, by policy, to acknowledge any conflicts. If there are appearances of a conflict of interest, individuals who may benefit, shall abstain from participating. The organization consistently monitors contracts and pay requests to ensure compliance with policy.

Form 990, Part VI, Section C, Line 19

All documents are held in the custody of the organization. Requests for any public information are honored when received in writing.

Filing and Contact Details

Filer

Filer Name
Franklin-vance-warren Housing of
EIN
56-1414532
Phone
2524920161
Address
180 S BECKFORD DRIVE, HENDERSON, NC 27536

Signing Officer

Name
Abdul Sm Rasheed
Title
Chief Executive Officer
Phone
2524920161
Signed
2026-01-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Abdul Sm Rasheed
Formed
1986
Legal Domicile
Nc
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
16

Preparer

Firm
Bernard Robinson & Company Llp
Address
1501 HIGHWOODS BLVD SUITE 300, GREENSBORO, NC 27410
Preparer
Casey H Patterson
Phone
3362944494
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Security payroll reimbursement: program service expenses 13,849. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,849. Supplies: program service expenses 12,679. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,679. Management consultant: program service expenses 9,429. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,429. Heating/cooling repairs and maintenance: program service expenses 8,605. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,605. Mortgage insurance premium: program service expenses 8,376. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,376. Payroll tax reimbursement: program service expenses 6,540. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,540. Other renting expenses: program service expenses 5,290. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,290. Miscellaneous administrative expenses: program service expenses 0. Management and general expenses 3,898. Fundraising expenses 0. Total expenses 3,898. Bad debts: program service expenses 1,371. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,371. Garbage and trash removal: program service expenses 577. Management and general expenses 0. Fundraising expenses 0. Total expenses 577.

Financial Statement Notes

PART X, LINE 2:

'it is the corporation's policy to evaluate all tax positions to identify any that may be considered uncertain. All identified material tax positions are assessed and measured by a "more-likely-than-not" threshold to determine if the tax position is uncertain and what, if any, the effect of the uncertain tax position may have on the financial statements. No material uncertain tax positions were identified for 2025.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Loss on disposal of fixed assets -5,527.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Loss on disposal of fixed assets 5,527.

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