Civic Intelligence

T H P Housing Inc.

990 • Fiscal year 2022 • EIN 56-1908374

Jul 01, 2021 to Jun 30, 2022 • Filed on May 15, 2023

Organization ProfileN/A
2102 Aileen CTHigh Point, NC 27265

(336) 644-1262

Siviq Scores

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

Liabilities / Assets

98th percentile

2.22x

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

2022 filings • NTEE P • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

98th percentile

9.11x

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

2022 filings • NTEE P • $500k-$1M nonprofits • Source year 2022

Net Margin

17th percentile

-14%

Higher net margin than 17% of similar nonprofits.

2022 filings • NTEE P • $500k-$1M nonprofits • Source year 2022

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.

2022 filings • NTEE P • $500k-$1M nonprofits • Source year 2022

Asset Growth

33rd percentile

-3.3%

Faster asset growth than 33% of similar nonprofits.

2022 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

41st percentile

3.1%

Faster revenue growth than 41% of similar nonprofits.

2022 filings • NTEE P • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$709,254

Down $24,081 (-3.3%) from 2021

Net Assets

Down

-$864,267

Down $23,639 (-2.8%) from 2021

Liabilities

Down

$1,573,521

Down $442 (-0.0%) from 2021

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin17th percentile

Revenue

Up

$172,811

Up $5,231 (+3.1%) from 2021

Expenses

Up

$196,450

Up $14,369 (+7.9%) from 2021

Net Income

Down

-$23,639

Down $9,138 (-63%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$2.0M$1.0M$0-$1.0MAssets 2011: $1,028,847Liabilities 2011: $1,577,637Net Assets 2011: -$548,7902011Assets 2012: $988,055Liabilities 2012: $1,571,789Net Assets 2012: -$583,7342012Assets 2013: $963,105Liabilities 2013: $1,575,528Net Assets 2013: -$612,4232013Assets 2014: $927,251Liabilities 2014: $1,570,863Net Assets 2014: -$643,6122014Assets 2015: $875,584Liabilities 2015: $1,569,869Net Assets 2015: -$694,2852015Assets 2016: $826,776Liabilities 2016: $1,576,299Net Assets 2016: -$749,5232016Assets 2017: $775,098Liabilities 2017: $1,571,840Net Assets 2017: -$796,7422017Assets 2018: $767,597Liabilities 2018: $1,574,525Net Assets 2018: -$806,9282018Assets 2019: $759,672Liabilities 2019: $1,569,858Net Assets 2019: -$810,1862019Assets 2020: $743,906Liabilities 2020: $1,570,033Net Assets 2020: -$826,1272020Assets 2021: $733,335Liabilities 2021: $1,573,963Net Assets 2021: -$840,6282021Assets 2022: $709,254Liabilities 2022: $1,573,521Net Assets 2022: -$864,2672022Assets 2023: $681,392Liabilities 2023: $1,571,738Net Assets 2023: -$890,3462023Assets 2024: $691,733Liabilities 2024: $1,632,167Net Assets 2024: -$940,4342024

Highlighted filing

2022

Assets$709,254
Liabilities$1,573,521
Net Assets-$864,267
Open 2022 Filing

Operations Trend

Revenue Growth41st percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $136,195Expenses 2011: $180,079Net Income 2011: -$43,8842011Expenses 2012: $167,4042012Revenue 2013: $131,508Expenses 2013: $160,197Net Income 2013: -$28,6892013Revenue 2014: $147,467Expenses 2014: $178,656Net Income 2014: -$31,1892014Revenue 2015: $145,089Expenses 2015: $195,762Net Income 2015: -$50,6732015Revenue 2016: $127,858Expenses 2016: $183,096Net Income 2016: -$55,2382016Revenue 2017: $128,902Expenses 2017: $176,121Net Income 2017: -$47,2192017Revenue 2018: $152,248Expenses 2018: $162,434Net Income 2018: -$10,1862018Revenue 2019: $154,896Expenses 2019: $158,154Net Income 2019: -$3,2582019Revenue 2020: $145,739Expenses 2020: $161,680Net Income 2020: -$15,9412020Revenue 2021: $167,580Expenses 2021: $182,081Net Income 2021: -$14,5012021Revenue 2022: $172,811Expenses 2022: $196,450Net Income 2022: -$23,6392022Revenue 2023: $169,215Expenses 2023: $195,294Net Income 2023: -$26,0792023Revenue 2024: $179,089Expenses 2024: $229,177Net Income 2024: -$50,0882024

Highlighted filing

2022

Revenue$172,811
Expenses$196,450
Net Income-$23,639
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 15, 2023
Return Version
2021v4.2
Gross Receipts
$172,811
Mission and Program Overview

Mission

To advocate and provide safe, sanitary, affordable housing for very low income persons with disabilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$661,677$622,530▼ $39,147
Investments Program Related$49,605$63,151▲ $13,546
Prepaid Expenses and Deferred Charges$11,414$12,089▲ $675
Accounts Receivable$1,472$3,083▲ $1,611
Cash and Non-Interest-Bearing Accounts$3,435$2,638▼ $797
Total Assets$733,335$709,254▼ $24,081
Other Assets Total$5,732$5,763▲ $31
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,557,500$1,557,500→ $0
Accounts Payable and Accrued Expenses$7,880$7,162▼ $718
Other Liabilities$5,732$5,612▼ $120
Deferred Revenue$2,851$3,247▲ $396
Total Liabilities$1,573,963$1,573,521▼ $442
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-840,628$-864,267▼ $23,639
Total Net Assets Fund Balance$-840,628$-864,267▼ $23,639
Total Liabilities and Net Assets / Fund Balance$733,335$709,254▼ $24,081

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$465,620$743,729$1,209,349
Other Land Buildings$1,556$222,268$223,824
Equipment$59,354$114,008$173,362
Land$96,000-$96,000
Investment Program Related Org$63,151--
Compensation and Service Providers
Top Officer Pay46th percentile

Board Members and Trustees

NameTitle
Kathy NorcottPresident
Cassandra DurhamVice President
George SmithDirector
Joyce SatterfieldDirector
Markeyta MooreDirector
Sonya SibleySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$109,268
Program Service Revenue
$62,699
Investment Income
$6
Other Revenue
$838
Change in Net Assets
$-23,639

Audited Revenue Reconciliation

Revenue per Audited Statements
$172,811
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$172,811
Total Revenue per Form 990
$172,811
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$196,450
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
Occupancy$96,231--$96,231
Depreciation Depletion$39,144--$39,144
Fees for Services Management-$19,308-$19,308
Fees for Services Accounting-$6,895-$6,895
Office Expenses-$4,556-$4,556
Other Expenses$743$80-$80
Total Functional Expenses$165,611$30,839$0$196,450

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$196,450
Total Expenses per Audited Statements$196,450
Total Expenses per Form 990$196,450
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$5,612
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 operations of the apartment community are managed by barr residential & development, llc (brd). Brd is a professional property management company. Brd has a project owner's and management agent's certification for multifamily housing projects with the us department of housing and urban development (hud). Under this certification, hud has approved brd to manage the apartment community”

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

“The board of directors reads and reviews form 990 prior to approving the return for filing with the irs.”

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

“The board delegates operation of the apartment community to the management agent, which operates the community to comply with hud and omb regulations, governing conflicts of interest and related party transactions. The management agent is accountable and reports to both the board of directors and to hud.”

Form 990, Part VI, Section C, Line 19

“Form 990, the governing documents, and all related financial and policy information is kept in the organization's central file room with the books and records, and made available to the public upon written request.”

Filing and Contact Details

Filer

Filer Name
Thp Housing Inc
EIN
56-1908374
Phone
3366441262
Address
2102 AILEEN CT, HIGH POINT, NC 27265

Signing Officer

Name
Kathy Norcott
Title
President
Phone
3366441262
Signed
2023-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathy Norcott
Formed
1996
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
DAUBY O'CONNOR & ZALESKI LLC
Address
501 CONGRESSIONAL BLVD 300, CARMEL, IN 46032
Preparer
Matthew Barnard
Phone
3178485700
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The corporation is exempt from federal income tax under section 501(c)(3) of the internal revenue code and state income tax and has been classified as an other than private foundation. Accordingly, no provision for federal and state taxes on revenue and income has been recognized in the accompanying financial statements. Generally, the federal and state tax returns were subject to examinations from the three years after the later of the original or extended due date or the date filed with the applicable tax authority.”

Raw XML AppendixShowing 400 of 427 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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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0465620
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0743729
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01209349
IRS990ScheduleD/EquipmentGrp/BookValueAmt059354
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0114008
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IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0196450
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0RESERVE FOR REPLACEMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/LandGrp/BookValueAmt096000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt096000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01556
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0222268
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0223824
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05612
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0622530
IRS990ScheduleD/TotalBookValueProgramRltdAmt063151
IRS990ScheduleD/TotalExpensesPerForm990Amt0196450
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IRS990/ScheduleJRequiredInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE OPERATIONS OF THE APARTMENT COMMUNITY ARE MANAGED BY BARR RESIDENTIAL & DEVELOPMENT, LLC (BRD). BRD IS A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. BRD HAS A PROJECT OWNER'S AND MANAGEMENT AGENT'S CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). UNDER THIS CERTIFICATION, HUD HAS APPROVED BRD TO MANAGE THE APARTMENT COMMUNITY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS READS AND REVIEWS FORM 990 PRIOR TO APPROVING THE RETURN FOR FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD DELEGATES OPERATION OF THE APARTMENT COMMUNITY TO THE MANAGEMENT AGENT, WHICH OPERATES THE COMMUNITY TO COMPLY WITH HUD AND OMB REGULATIONS, GOVERNING CONFLICTS OF INTEREST AND RELATED PARTY TRANSACTIONS. THE MANAGEMENT AGENT IS ACCOUNTABLE AND REPORTS TO BOTH THE BOARD OF DIRECTORS AND TO HUD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990, THE GOVERNING DOCUMENTS, AND ALL RELATED FINANCIAL AND POLICY INFORMATION IS KEPT IN THE ORGANIZATION'S CENTRAL FILE ROOM WITH THE BOOKS AND RECORDS, AND MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
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 B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxableDistributionsInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalEmployeeCnt00
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IRS990/TotalGrossUBIAmt00
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$709,254
Liabilities
$1,573,521
Net assets
-$864,267
Revenue
$172,811
Expenses
$196,450
Net income
-$23,639
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.69$1.63$0.94$0.18$0.23$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.68$1.57$0.89$0.17$0.20$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.71$1.57$0.86$0.17$0.20$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.73$1.57$0.84$0.17$0.18$0.01
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.74$1.57$0.83$0.15$0.16$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.76$1.57$0.81$0.15$0.16$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.77$1.57$0.81$0.15$0.16$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.78$1.57$0.80$0.13$0.18$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.83$1.58$0.75$0.13$0.18$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.88$1.57$0.69$0.15$0.20$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.93$1.57$0.64$0.15$0.18$0.03
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.96$1.58$0.61$0.13$0.16$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$1.57$0.58$0.17
2011Summary only. Only limited summary data is available for this year.$1.03$1.58$0.55$0.14$0.18$0.04