Southeastern Housing Preservation Inc.

990 • Fiscal year 2020 • EIN 56-1856590

Oct 01, 2019 to Sep 30, 2020 • Filed on Feb 10, 2021

Organization Profile N/A

2021 Cross Beam DriveCharlotte, NC 28217

(704) 357-6000

Siviq Scores

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

0.24x

Higher debt load relative to assets than 28% of similar nonprofits.

2020 filings • NTEE L • $10M-$25M nonprofits • Source year 2020

1.82x

Higher debt load relative to revenue than 38% of similar nonprofits.

2020 filings • NTEE L • $10M-$25M nonprofits • Source year 2020

28%

Higher net margin than 80% of similar nonprofits.

2020 filings • NTEE L • $10M-$25M nonprofits • Source year 2020

Higher top officer pay than 21% of similar nonprofits.

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

2020 filings • NTEE L • $10M-$25M nonprofits • Source year 2020

0.8%

Faster asset growth than 46% of similar nonprofits.

2020 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2019 to 2020

1.2%

Faster revenue growth than 55% of similar nonprofits.

2020 filings • NTEE L • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet

Liabilities / Assets28th percentile

Assets

$13,519,465

Up $104,203 (+0.8%) from 2019

Net Assets

$10,236,788

Up $455,910 (+4.7%) from 2019

Liabilities

Down

$3,282,677

Down $351,707 (-9.7%) from 2019

Revenue And Expenses

Liabilities / Revenue38th percentile Net Margin80th percentile

Revenue

$1,803,040

Up $21,003 (+1.2%) from 2019

Expenses

$1,290,053

Up $315,609 (+32%) from 2019

Net Income

Down

$512,987

Down $294,606 (-36%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth46th percentile

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

Highlighted filing

2020

Assets$13,519,465

Liabilities$3,282,677

Net Assets$10,236,788

Open 2020 Filing

Operations Trend

Revenue Growth55th percentile

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

Highlighted filing

2020

Revenue$1,803,040

Expenses$1,290,053

Net Income$512,987

Open 2020 Filing

Jump To

Filing Snapshot

Filing Period: Oct 1, 2019 to Sep 30, 2020
Signed: Feb 10, 2021
Return Version: 2019v5.2
Gross Receipts: $1,813,708

Mission and Program Overview

Mission

Develop, own, maintain, operate, and provide assistance to rental housing projects for persons of low to moderate income operating under section 515(b) of the national housing act of 1949, as amended.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Other Notes and Loans Receivable, Net	$8,300,416	$8,780,416	▲ $480,000
Land, Buildings, and Equipment, Net	$2,599,076	$2,591,608	▼ $7,468
Savings and Temporary Cash Investments	$861,776	$573,654	▼ $288,122
Investments Program Related	$620,235	$570,292	▼ $49,943
Pledges and Grants Receivable	$480,000	$500,000	▲ $20,000
Cash and Non-Interest-Bearing Accounts	$516,599	$473,631	▼ $42,968
Accounts Receivable	$24,430	$18,084	▼ $6,346
Prepaid Expenses and Deferred Charges	$12,730	$11,780	▼ $950
Total Assets	$13,415,262	$13,519,465	▲ $104,203
Liabilities
Mortgage Notes Payable Secured by Investment Property	$3,047,499	$2,871,662	▼ $175,837
Other Liabilities	$290,896	$268,858	▼ $22,038
Accounts Payable and Accrued Expenses	$101,639	$140,679	▲ $39,040
Deferred Revenue	$194,350	$1,478	▼ $192,872
Total Liabilities	$3,634,384	$3,282,677	▼ $351,707
Net Assets / Fund Balance
Net Assets With Donor Restrictions	$8,527,252	$9,027,252	▲ $500,000
Net Assets Without Donor Restrictions	$1,253,626	$1,209,536	▼ $44,090
Total Net Assets Fund Balance	$9,780,878	$10,236,788	▲ $455,910
Total Liabilities and Net Assets / Fund Balance	$13,415,262	$13,519,465	▲ $104,203

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$2,110,344	$2,826,835	$4,937,179
Other Land Buildings	$38,227	$269,095	$307,322
Equipment	$146,097	$155,643	$301,740
Land	$296,940	-	$296,940

Compensation and Service Providers

Top Officer Pay21st percentile

Board Members and Trustees

Name	Title
Ira M Slomka	President
Hollis M Fitch	Vice President
Casey Stansbury	Secretary/treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $1,414,554
Program Service Revenue: $399,139
Investment Income: $-10,653
Other Revenue: $0
Change in Net Assets: $512,987

Audited Revenue Reconciliation

Revenue per Audited Statements: $1,747,286
Revenue Not Reported on Financial Statements: $55,754
Revenue Not Reported on Form 990: $0
Other Revenue Adjustments: $55,754
Total Revenue per Audited Statements: $1,747,286
Total Revenue per Form 990: $1,803,040

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$1,290,053
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0
Salaries, Compensation, and Employee Benefits	$0
Total Fundraising Expense	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
All Other Expenses	$712,353	$34,184	-	$746,537
Depreciation Depletion	$140,259	-	-	$140,259
Other Expenses	$69,607	-	-	$69,607
Interest	$21,363	-	-	$21,363
Fees for Services Accounting	-	$13,000	-	$13,000
Office Expenses	$5,671	-	-	$5,671
Fees for Services Legal	-	$3,700	-	$3,700
Total Functional Expenses	$1,239,169	$50,884	$0	$1,290,053

Audited Expense Reconciliation

Line Item	Amount
Total Expenses per Audited Statements	$1,291,376
Expenses per Audited Statements	$1,290,053
Total Expenses per Form 990	$1,290,053
Expenses Not Reported on Form 990	$1,323
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 Item	Amount
Professional Fundraising Fees	$0

Political and Lobbying Activity

Political campaign activity: No
Lobbying activity: No
Subject to proxy tax: No

Related Organizations and Partnerships

Related Partnerships and Joint Ventures

Organization	Location	Activity	Income	Assets	Ownership	Managing Partner
New River Overlook Va LLC	Charlotte, NC	Apartment Rental	$-1	$673,331	-	No
Wood Hill Associates of Mt Sterling	Charlotte, NC	Apartment Rental	$21,075	$491,460	-	No
Mountain Oak Limited Partnership	Charlotte, NC	Apartment Rental	$155	$87,409	-	Yes
Lake City Associates Ltd Partnership	Charlotte, NC	Apartment Rental	$18	$81,174	-	Yes
Wintergreen Apartments Ltd	Charlotte, NC	Apartment Rental	$-4	$53,000	-	Yes
Village Green Va LLC	Charlotte, NC	Apartment Rental	-	$51,218	-	Yes
Dyersburg Associates	Charlotte, NC	Apartment Rental	$-2	$45,999	-	No
Woodstock I Limited Partnership	Charlotte, NC	Apartment Rental	$-676	$45,293	-	Yes
Phillips Village Ltd	Charlotte, NC	Apartment Rental	$-2	$42,343	-	Yes
Fields of Toe Nc Limited Partnership	Charlotte, NC	Apartment Rental	$-327	$29,293	-	Yes
Heritage Village Ltd	Charlotte, NC	Apartment Rental	$145	$25,883	-	Yes
Woodstock Ii Limited Partnership	Charlotte, NC	Apartment Rental	$-2	$24,411	-	Yes
Woodstock Iii Limited Partnership	Charlotte, NC	Apartment Rental	$-3	$19,976	-	Yes
Aspen Square Va Lp	Charlotte, NC	Apartment Rental	$14,636	$-14,639	-	No
Blue Sky Limited Partnership	Charlotte, NC	Apartment Rental	$-2	$14,343	-	Yes
Highland Rim Apartments Ltd	Charlotte, NC	Apartment Rental	$-1	$8,354	-	No
Pecan Lane Limited Partnership	Charlotte, NC	Apartment Rental	$638	$7,133	-	Yes
Kings Square Ii Limited Partnership	Charlotte, NC	Apartment Rental	$4,156	$-4	-	No
Thmo Limited Partnership	Charlotte, NC	Apartment Rental	$-1	$3,288	-	Yes
Warsaw Manor Va LLC	Charlotte, NC	Apartment Rental	$-1	$2,686	-	No
Holly Park Housing LLC	Charlotte, NC	Apartment Rental	$-2	$1,901	-	No
North Glen Apartments Nc Lp	Charlotte, NC	Apartment Rental	$1,435	$1,156	-	No
Timberland Park Va LLC	Charlotte, NC	Apartment Rental	-	$1,092	-	No
Bailey Gardens Limited Partnership	Charlotte, NC	Apartment Rental	$750	$40	-	No
Magnolia Park Limited Partnership	Charlotte, NC	Apartment Rental	$485	$43	-	No
Pope Field Terrace Sc LLC	Charlotte, NC	Apartment Rental	$321	$-164	-	No
Wexford Pointe Apartments LLC	Charlotte, NC	Apartment Rental	$-2	$80	-	Yes
Ada Park Va LLC	Charlotte, NC	Apartment Rental	-	$58	-	No
Thomas Village Associates Lp	Charlotte, NC	Apartment Rental	$-1	$49	-	No
Iron Bridge Road Apartments Va LLC	Charlotte, NC	Apartment Rental	-	$35	-	No
Harrison Terrace Nc LLC	Charlotte, NC	Apartment Rental	$-627	$26	-	No
Bellemont Pointe Apartments LLC	Charlotte, NC	Apartment Rental	$-3	$24	-	No
Westgate Terrace Nc LLC	Charlotte, NC	Apartment Rental	$-1,442	$17	-	No
Lily Ridge Va LLC	Charlotte, NC	Apartment Rental	$-1	$15	-	No
Cross Creek Limited Partnership	Charlotte, NC	Apartment Rental	$-873	$13	-	Yes
Cooper Terrace Nc LLC	Charlotte, NC	Apartment Rental	$-6,383	$11	-	No
Lovingston Ridge Va LLC	Charlotte, NC	Apartment Rental	$-1	$11	-	No
Residential Resources Lp Sign Post Estates	Charles City County, VA	Apartment Rental	$-2	$11	-	No
Academy Apartments Va LLC	Charlotte, NC	Apartment Rental	-	$10	-	Yes
Fieldale Housing LLC	Charlotte, NC	Apartment Rental	$-4	$10	-	No
Valdese Village Limited Partnership	Charlotte, NC	Apartment Rental	$-2	$8	-	No
Westwood Va Limited Partnership	Charlotte, NC	Apartment Rental	$-1	$8	-	Yes
Aviemore Village Ltd Partnership	Charlotte, NC	Apartment Rental	-	-	-	Yes
Flatiron Holdings LLC	Charolotte, NC	General Partner/managing Member Interests	-	-	-	-
Gem Management LLC	Charlotte, NC	Property Management	-	-	-	-
Mountain Laurel Manor Ii Va LLC	Charlotte, NC	Apartment Rental	-	-	-	No
New River Gardens Ii Va Lp	Charlotte, NC	Apartment Rental	-	-	-	Yes
Robinson Park Va LLC	Charlotte, NC	Apartment Rental	-	$-10,726	-	Yes
Bailey Springs Apartments Lp	Florence, AL	Apartment Rental	$-1	$-3	-	No
Bradbury Apartments Limited Partnership	Florence, AL	Apartment Rental	$-1	$-3	-	No
Brooke Point Manor LLC	Cary, NC	Apartment Rental	$-1	$-4	-	Yes
Lenox Station Apartments Lp	Charlotte, NC	Apartment Rental	$-1	$-16	-	No
Scotts Hill Ltd	Charlotte, NC	Apartment Rental	$-1	$-15,611	-	Yes
The Shire Va LLC	Charlotte, NC	Apartment Rental	$-1	$-56,731	-	No
Dyersburg Associates	Charlotte, NC	Apartment Rental	$-348	$-48,928	-	Yes

Transactions with Related Organizations

Organization	Type	Method	Amount
Gem Management LLC	C	-	$42,000

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
Note Payable, Affiliate	$227,626
Security Deposits Payable	$41,232

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, Part VI, Section A, Line 2

“Related party information among officers: three members of the board of directors of southeastern housing preservation are related through business ownership and having ownership in the management company and general partner interests; ira m. Slomka, hollis m. Finch and casey stansbury.”

Form 990, Part VI, Section A, Line 3

“Daily operations of the rental properties are handled by gem management, llc in accordance with u.s. Department of agriculture rural development regulations and procedures.”

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

“A copy of this form 990 was provided to the board of directors for review prior to filing.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available upon request at the organization's office.”

Filing and Contact Details

Filer

Filer Name: Southeastern Housing Preservation
EIN: 56-1856590
Phone: 7043576000
Address: 2021 CROSS BEAM DRIVE, CHARLOTTE, NC 28217

Signing Officer

Name: Ira M Slomka
Title: President
Phone: 7043576000
Signed: 2021-02-10
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Ira M Slomka
Formed: 1994
Legal Domicile: Nc
Voting Board Members: 3
Independent Board Members: 0
Employees: 0
Volunteers: 0

Preparer

Firm: Bernard Robinson & Company Llp
Address: PO BOX 19608, GREENSBORO, NC 27419-9608
Preparer: Rhonda F Skiles
Phone: 3362944494

Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Hillside - reserve expenses: program service expenses 63,058. Management and general expenses 0. Fundraising expenses 0. Total expenses 63,058. Springwood - utilities: program service expenses 56,800. Management and general expenses 0. Fundraising expenses 0. Total expenses 56,800. Springwood - reserve expenses: program service expenses 51,747. Management and general expenses 0. Fundraising expenses 0. Total expenses 51,747. Springwood - mgmt fee: program service expenses 51,072. Management and general expenses 0. Fundraising expenses 0. Total expenses 51,072. Hillside - utilities: program service expenses 50,062. Management and general expenses 0. Fundraising expenses 0. Total expenses 50,062. Hillside - mgmt fee: program service expenses 44,160. Management and general expenses 0. Fundraising expenses 0. Total expenses 44,160. Sedgefield - utilities: program service expenses 39,721. Management and general expenses 0. Fundraising expenses 0. Total expenses 39,721. Springwood - site mgmt payroll: program service expenses 31,085. Management and general expenses 0. Fundraising expenses 0. Total expenses 31,085. Hillside - real estate taxes : program service expenses 28,422. Management and general expenses 0. Fundraising expenses 0. Total expenses 28,422. Springwood - real estate taxes : program service expenses 27,724. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,724. Hillside - site mgmt payroll : program service expenses 27,370. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,370. Corporate - other admin expenses: program service expenses 0. Management and general expenses 27,345. Fundraising expenses 0. Total expenses 27,345. Sedgefield - mgmt fee: program service expenses 25,794. Management and general expenses 0. Fundraising expenses 0. Total expenses 25,794. Springwood - grounds: program service expenses 24,423. Management and general expenses 0. Fundraising expenses 0. Total expenses 24,423. Sedgefield - site mgmt payroll: program service expenses 21,810. Management and general expenses 0. Fundraising expenses 0. Total expenses 21,810. Sedgefield - real estate taxes : program service expenses 21,780. Management and general expenses 0. Fundraising expenses 0. Total expenses 21,780. Springwood - insurance: program service expenses 17,926. Management and general expenses 0. Fundraising expenses 0. Total expenses 17,926. Hillside - grounds: program service expenses 16,868. Management and general expenses 0. Fundraising expenses 0. Total expenses 16,868. Hillside - insurance: program service expenses 15,279. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,279. Sedgefield - grounds: program service expenses 11,436. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,436. Springfield - repairs and maintenance : program service expenses 10,800. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,800. Sedgefield - insurance: program service expenses 9,812. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,812. Springfield - mgmt fee: program service expenses 9,440. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,440. Sedgefield - payroll tax/benefits: program service expenses 7,502. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,502. Springwood - telephone : program service expenses 4,565. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,565. Springwood - payroll tax/benefits: program service expenses 4,552. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,552. Springfield - real estate taxes: program service expenses 3,935. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,935. Springfield - grounds : program service expenses 3,775. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,775. Hillside - payroll ta”

FORM 990, PART XI, LINE 9:

“Rental income from pass-through entities -33,082. Interest income from pass-through entities -12. Loss on sale of partnership interest -23,983.”

Financial Statement Notes

PART X, LINE 2:

“It is the organization'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 2020.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Rental income from pass-through entities 33,082. Interest income from pass-through entities 12. Loss on fixed asset disposal -10,668. Interest income shown as interest expense on financial statements 33,328.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Loss on fixed asset disposal 10,668. Loss on sale of partnership interest 23,983. Interest income shown as interest expense on financial statements -33,328.”

Raw XML AppendixShowing 400 of 1,178 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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IRS990/MissionDesc	0	DEVELOP, OWN, MAINTAIN, OPERATE, AND PROVIDE ASSISTANCE TO RENTAL HOUSING PROJECTS FOR PERSONS OF LOW TO MODERATE INCOME OPERATING UNDER SECTION 515(B) OF THE NATIONAL HOUSING ACT OF 1949, AS AMENDED.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt	0	53410
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IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt	0	405545
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt	0	124979
IRS990/ProgSrvcAccomActyOtherGrp/Desc	0	USDA RURAL DEVELOPMENT 515 PROGRAM - NONPROFIT ALLOCATION;SPRINGFIELD APARTMENTS, KINGS MOUNTAIN, NC12 UNITS X 12 MONTHS AVAILABLE OCCUPANCY = 144 AVAILABLE
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt	0	51884
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt	0	28169
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IRS990/PYContributionsGrantsAmt	0	1413763
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IRS990/PYGrantsAndSimilarPaidAmt	0	0
IRS990/PYInvestmentIncomeAmt	0	53
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IRS990/PYOtherRevenueAmt	0	0
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IRS990/PYRevenuesLessExpensesAmt	0	807593
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IRS990/PYTotalExpensesAmt	0	974444
IRS990/PYTotalProfFndrsngExpnsAmt	0	0
IRS990/PYTotalRevenueAmt	0	1782037
IRS990/QuidProQuoContributionsInd	0	0
IRS990/RcvFndsToPayPrsnlBnftCntrctInd	0	0
IRS990/ReconcilationRevenueExpnssAmt	0	512987
IRS990/RelatedEntityInd	0	1
IRS990/RelatedOrganizationCtrlEntInd	0	0
IRS990/RelatedOrganizationsAmt	0	42000
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IRS990/RevenueAmt	0	116130
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt	0	573654
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt	0	192
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt	0	479
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt	0	1912056
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt	0	8555098
IRS990ScheduleA/TotalSupportAmt	0	8555577
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum	0	RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt	0	RESTRICTED
IRS990/ScheduleBRequiredInd	0	1
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt	0	2826835
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt	0	4937179
IRS990ScheduleD/EquipmentGrp/BookValueAmt	0	146097
IRS990ScheduleD/EquipmentGrp/DepreciationAmt	0	155643
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt	0	301740
IRS990ScheduleD/ExpensesNotReportedAmt	0	1323
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt	0	0
IRS990ScheduleD/ExpensesSubtotalAmt	0	1290053
IRS990ScheduleD/FootnoteTextInd	0	X
IRS990ScheduleD/LandGrp/BookValueAmt	0	296940
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt	0	296940
IRS990ScheduleD/OtherExpensesIncludedAmt	0	1323
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt	0	38227
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt	0	269095
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt	0	307322
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	0	41232
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	1	227626
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	0	SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	1	NOTE PAYABLE, AFFILIATE
IRS990ScheduleD/OtherRevenuesNotIncludedAmt	0	55754
IRS990ScheduleD/RevenueNotReportedAmt	0	0
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt	0	55754
IRS990ScheduleD/RevenueSubtotalAmt	0	1747286
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt	0	IT IS THE ORGANIZATION'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 2020.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt	1	RENTAL INCOME FROM PASS-THROUGH ENTITIES 33,082. INTEREST INCOME FROM PASS-THROUGH ENTITIES 12. LOSS ON FIXED ASSET DISPOSAL -10,668. INTEREST INCOME SHOWN AS INTEREST EXPENSE ON FINANCIAL STATEMENTS 33,328.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt	2	LOSS ON FIXED ASSET DISPOSAL 10,668. LOSS ON SALE OF PARTNERSHIP INTEREST 23,983. INTEREST INCOME SHOWN AS INTEREST EXPENSE ON FINANCIAL STATEMENTS -33,328.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc	0	PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc	1	PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc	2	PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt	0	2591608
IRS990ScheduleD/TotalExpensesPerForm990Amt	0	1290053
IRS990ScheduleD/TotalLiabilityAmt	0	268858
IRS990ScheduleD/TotalRevenuePerForm990Amt	0	1803040
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt	0	1747286
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt	0	1291376
IRS990/ScheduleJRequiredInd	0	0
IRS990/ScheduleORequiredInd	0	1
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	RELATED PARTY INFORMATION AMONG OFFICERS: THREE MEMBERS OF THE BOARD OF DIRECTORS OF SOUTHEASTERN HOUSING PRESERVATION ARE RELATED THROUGH BUSINESS OWNERSHIP AND HAVING OWNERSHIP IN THE MANAGEMENT COMPANY AND GENERAL PARTNER INTERESTS; IRA M. SLOMKA, HOLLIS M. FINCH AND CASEY STANSBURY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	DAILY OPERATIONS OF THE RENTAL PROPERTIES ARE HANDLED BY GEM MANAGEMENT, LLC IN ACCORDANCE WITH U.S. DEPARTMENT OF AGRICULTURE RURAL DEVELOPMENT REGULATIONS AND PROCEDURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	A COPY OF THIS FORM 990 WAS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	4	HILLSIDE - RESERVE EXPENSES: PROGRAM SERVICE EXPENSES 63,058. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 63,058. SPRINGWOOD - UTILITIES: PROGRAM SERVICE EXPENSES 56,800. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 56,800. SPRINGWOOD - RESERVE EXPENSES: PROGRAM SERVICE EXPENSES 51,747. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,747. SPRINGWOOD - MGMT FEE: PROGRAM SERVICE EXPENSES 51,072. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 51,072. HILLSIDE - UTILITIES: PROGRAM SERVICE EXPENSES 50,062. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 50,062. HILLSIDE - MGMT FEE: PROGRAM SERVICE EXPENSES 44,160. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 44,160. SEDGEFIELD - UTILITIES: PROGRAM SERVICE EXPENSES 39,721. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 39,721. SPRINGWOOD - SITE MGMT PAYROLL: PROGRAM SERVICE EXPENSES 31,085. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 31,085. HILLSIDE - REAL ESTATE TAXES : PROGRAM SERVICE EXPENSES 28,422. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 28,422. SPRINGWOOD - REAL ESTATE TAXES : PROGRAM SERVICE EXPENSES 27,724. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,724. HILLSIDE - SITE MGMT PAYROLL : PROGRAM SERVICE EXPENSES 27,370. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,370. CORPORATE - OTHER ADMIN EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 27,345. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,345. SEDGEFIELD - MGMT FEE: PROGRAM SERVICE EXPENSES 25,794. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 25,794. SPRINGWOOD - GROUNDS: PROGRAM SERVICE EXPENSES 24,423. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 24,423. SEDGEFIELD - SITE MGMT PAYROLL: PROGRAM SERVICE EXPENSES 21,810. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 21,810. SEDGEFIELD - REAL ESTATE TAXES : PROGRAM SERVICE EXPENSES 21,780. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 21,780. SPRINGWOOD - INSURANCE: PROGRAM SERVICE EXPENSES 17,926. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,926. HILLSIDE - GROUNDS: PROGRAM SERVICE EXPENSES 16,868. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,868. HILLSIDE - INSURANCE: PROGRAM SERVICE EXPENSES 15,279. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,279. SEDGEFIELD - GROUNDS: PROGRAM SERVICE EXPENSES 11,436. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,436. SPRINGFIELD - REPAIRS AND MAINTENANCE : PROGRAM SERVICE EXPENSES 10,800. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,800. SEDGEFIELD - INSURANCE: PROGRAM SERVICE EXPENSES 9,812. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,812. SPRINGFIELD - MGMT FEE: PROGRAM SERVICE EXPENSES 9,440. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,440. SEDGEFIELD - PAYROLL TAX/BENEFITS: PROGRAM SERVICE EXPENSES 7,502. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,502. SPRINGWOOD - TELEPHONE : PROGRAM SERVICE EXPENSES 4,565. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,565. SPRINGWOOD - PAYROLL TAX/BENEFITS: PROGRAM SERVICE EXPENSES 4,552. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,552. SPRINGFIELD - REAL ESTATE TAXES: PROGRAM SERVICE EXPENSES 3,935. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,935. SPRINGFIELD - GROUNDS : PROGRAM SERVICE EXPENSES 3,775. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,775. HILLSIDE - PAYROLL TA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	5	RENTAL INCOME FROM PASS-THROUGH ENTITIES -33,082. INTEREST INCOME FROM PASS-THROUGH ENTITIES -12. LOSS ON SALE OF PARTNERSHIP INTEREST -23,983.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	4	FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	5	FORM 990, PART XI, LINE 9:
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IRS990ScheduleR/DivRelatedOrganizationInd	0	0
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd	0	0
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	1	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	2	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	3	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	4	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	5	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	6	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	7	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	8	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	9	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	10	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	11	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	12	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	13	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	14	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	15	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	16	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	17	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	18	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	19	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	20	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	21	N/A
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	24	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	25	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	26	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	27	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	28	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	29	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	30	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	31	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	32	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	33	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	34	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	35	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	36	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	37	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	38	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	39	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	40	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	41	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	42	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	43	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	44	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	45	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	46	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	47	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	48	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	49	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	50	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	51	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	52	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	53	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd	54	N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	0	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	1	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	2	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	3	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	4	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	5	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	6	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	7	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	8	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	9	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	10	0
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd	11	0

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $13,519,465
Liabilities: $3,282,677
Net assets: $10,236,788
Revenue: $1,803,040
Expenses: $1,290,053
Net income: $512,987

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.	$15.2	$1.04	$14.2	$2.58	$1.34	$1.24
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$15.6	$2.44	$13.2	$1.49	$1.34	$0.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$15.7	$2.66	$13.1	$2.50	$1.12	$1.38
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$14.8	$3.03	$11.7	$2.81	$1.23	$1.58
2020Detailed filing. Detailed filing data is available for this year.	$13.5	$3.28	$10.2	$1.80	$1.29	$0.51
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$13.4	$3.63	$9.78	$1.78	$0.97	$0.81
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$12.6	$3.56	$9.05	$2.57	$1.36	$1.21
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.	$11.6	$3.76	$7.83	$1.83	$1.45	$0.38
2016Detailed filing. Detailed filing data is available for this year.	$11.1	$3.61	$7.47	$2.01	$1.46	$0.55
2015Detailed filing. Detailed filing data is available for this year.	$11.8	$4.97	$6.82	$2.26	$1.41	$0.86
2014Detailed filing. Detailed filing data is available for this year.	$11.1	$5.15	$5.99	$3.53	$1.35	$2.18