Civic Intelligence

The Davidson Housing Coalition

990 • Fiscal year 2022 • EIN 56-2057448

Jul 01, 2021 to Jun 30, 2022 • Filed on May 12, 2023

Organization Profiledavidsonhousing.org
PO Box 854Davidson, NC 28036

(704) 892-4486

Siviq Scores

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

Liabilities / Assets

40th percentile

0.26x

Higher debt load relative to assets than 40% of similar nonprofits.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

46th percentile

1.59x

Higher debt load relative to revenue than 46% of similar nonprofits.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2022

Net Margin

43rd percentile

-23%

Higher net margin than 43% of similar nonprofits.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

56th percentile

$96,319

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 19.8% of source-year revenue.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2022

Asset Growth

87th percentile

19%

Faster asset growth than 87% of similar nonprofits.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

21st percentile

-10%

Faster revenue growth than 21% of similar nonprofits.

2022 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$3,021,594

Up $488,639 (+19%) from 2021

Net Assets

Up

$2,249,687

Up $504,558 (+29%) from 2021

Liabilities

Down

$771,907

Down $15,919 (-2.0%) from 2021

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin43rd percentile

Revenue

Down

$485,310

Down $54,876 (-10%) from 2021

Expenses

Up

$598,432

Up $53,924 (+9.9%) from 2021

Net Income

Down

-$113,122

Down $108,800 (-2517%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $2,581,181Liabilities 2010: $1,077,435Net Assets 2010: $1,503,7462010Assets 2011: $3,078,993Liabilities 2011: $1,402,065Net Assets 2011: $1,676,9282011Assets 2012: $2,980,181Liabilities 2012: $1,203,398Net Assets 2012: $1,776,7832012Assets 2013: $2,844,884Liabilities 2013: $944,776Net Assets 2013: $1,900,1082013Assets 2014: $2,577,419Liabilities 2014: $711,621Net Assets 2014: $1,865,7982014Assets 2015: $2,694,796Liabilities 2015: $728,560Net Assets 2015: $1,966,2362015Assets 2016: $2,755,863Liabilities 2016: $850,043Net Assets 2016: $1,905,8202016Assets 2017: $2,605,098Liabilities 2017: $773,240Net Assets 2017: $1,831,8582017Assets 2018: $2,545,330Liabilities 2018: $826,303Net Assets 2018: $1,719,0272018Assets 2019: $2,530,784Liabilities 2019: $853,368Net Assets 2019: $1,677,4162019Assets 2020: $2,607,969Liabilities 2020: $858,518Net Assets 2020: $1,749,4512020Assets 2021: $2,532,955Liabilities 2021: $787,826Net Assets 2021: $1,745,1292021Assets 2022: $3,021,594Liabilities 2022: $771,907Net Assets 2022: $2,249,6872022Assets 2023: $4,065,887Liabilities 2023: $2,023,167Net Assets 2023: $2,042,7202023Assets 2024: $3,995,439Liabilities 2024: $1,882,387Net Assets 2024: $2,113,0522024

Highlighted filing

2022

Assets$3,021,594
Liabilities$771,907
Net Assets$2,249,687
Open 2022 Filing

Operations Trend

Revenue Growth21st percentile

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

$1.0M$500K$0-$500KExpenses 2010: $479,5152010Revenue 2011: $673,041Expenses 2011: $499,859Net Income 2011: $173,1822011Expenses 2012: $507,0142012Expenses 2013: $433,4642013Revenue 2014: $403,713Expenses 2014: $438,023Net Income 2014: -$34,3102014Revenue 2015: $488,374Expenses 2015: $387,936Net Income 2015: $100,4382015Revenue 2016: $363,252Expenses 2016: $423,668Net Income 2016: -$60,4162016Revenue 2017: $363,878Expenses 2017: $437,840Net Income 2017: -$73,9622017Revenue 2018: $346,867Expenses 2018: $459,698Net Income 2018: -$112,8312018Revenue 2019: $455,585Expenses 2019: $497,196Net Income 2019: -$41,6112019Revenue 2020: $628,677Expenses 2020: $556,642Net Income 2020: $72,0352020Revenue 2021: $540,186Expenses 2021: $544,508Net Income 2021: -$4,3222021Revenue 2022: $485,310Expenses 2022: $598,432Net Income 2022: -$113,1222022Revenue 2023: $462,855Expenses 2023: $669,822Net Income 2023: -$206,9672023Revenue 2024: $829,256Expenses 2024: $758,924Net Income 2024: $70,3322024

Highlighted filing

2022

Revenue$485,310
Expenses$598,432
Net Income-$113,122
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 12, 2023
Return Version
2021v4.1
Gross Receipts
$485,310
Mission and Program Overview

Mission

To work with the larger community to preserve and create affordable housing options and to prepare families and individuals for financial stability and home ownership.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,246,732$2,153,977▼ $92,755
Other Notes and Loans Receivable, Net$118,065$660,883▲ $542,818
Accounts Receivable$1,024$96,049▲ $95,025
Savings and Temporary Cash Investments$133,400$84,372▼ $49,028
Pledges and Grants Receivable$28,750$19,500▼ $9,250
Prepaid Expenses and Deferred Charges$4,934$6,763▲ $1,829
Cash and Non-Interest-Bearing Accounts-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,532,955$3,021,594▲ $488,639
Other Assets Total$50$50→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$760,109$743,813▼ $16,296
Other Liabilities$13,821$15,248▲ $1,427
Accounts Payable and Accrued Expenses$13,896$12,846▼ $1,050
Total Liabilities$787,826$771,907▼ $15,919
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,487,786$2,006,476▲ $518,690
Net Assets With Donor Restrictions$257,343$243,211▼ $14,132
Total Net Assets Fund Balance$1,745,129$2,249,687▲ $504,558
Total Liabilities and Net Assets / Fund Balance$2,532,955$3,021,594▲ $488,639

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,639,370$1,392,697$3,032,067
Land$510,745-$510,745
Equipment$3,862$36,536$40,398
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Gerald WrightExecutive DirectorFT$96,319$96,319

Board Members and Trustees

NameTitle
Margaret MartensChair
Margo WilliamsChair Emeritus
Dick HayVice Chair
Bruce McMillenDirector
Carly SchianoDirector
Carol RobinsonDirector
Darrell Van PeltDirector
Libby CableDirector
Marc RoperDirector
Shawn CopelandDirector
T Michele CrowellSecretary
John WoodsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$247,892
Program Service Revenue
$220,406
Investment Income
$17,012
Other Revenue
$0
All Other Contributions
$247,892
Change in Net Assets
$-113,122

Audited Revenue Reconciliation

Revenue per Audited Statements
$485,310
Total Revenue per Audited Statements
$485,310
Total Revenue per Form 990
$485,310
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$370,631
Salaries, Compensation, and Employee Benefits$227,801
Total Fundraising Expense$90,055
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$104,228$1,934$1,934$108,096
Other Salaries and Wages$47,123$27,961$30,750$105,834
Current Officers, Directors, Trustees, and Key Employees$48,160$24,080$24,079$96,319
Fees for Services Other$12,085$25,806$9,216$47,107
Interest$35,501--$35,501
Payroll Taxes$12,089$6,603$6,956$25,648
Insurance$24,554$230$230$25,014
Occupancy$16,968$1,974$2,079$21,021
Other Expenses$6,457$2,898$2,898$12,253
All Other Expenses$4,140$2,260$2,381$8,781
Conferences and Meetings-$598-$598
Total Functional Expenses$412,456$95,921$90,055$598,432

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$598,432
Total Expenses per Audited Statements$598,432
Total Expenses per Form 990$598,432
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits$15,248
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Form 990 prepared by the Organizations audit firm is reviewed and approved by the Finance Committee of the Board of Directors and then delivered to the full Board for their review.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“All directors, officers, and key employees of the Organization are required to disclose any conflicts of interest. This process is documented on a signed statement that is updated on an annual basis.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Board of Directors compares the salaries of all employees including the Executive Director to a salary survey published by the North Carolina Center for Nonprofits. In addition, the Board approves the budget and all salaries.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“See response to item 15(a) above.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Made available upon request.”

Filing and Contact Details

Filer

Filer Name
The Davidson Housing Coalition
EIN
56-2057448
Phone
7048924486
Address
PO Box 854, Davidson, NC 28036

Signing Officer

Name
John Woods
Title
Treasurer
Signed
2023-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
ConnieJ Wessner
Formed
1997
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
5
Volunteers
175

Preparer

Firm
Foard and Company PA
Address
817 E Morehead St Ste 100, Charlotte, NC 28202
Preparer
Phillip G Wilson
Phone
7043721515
Supplemental Narrative

Additional Explanations

Prior Year Adjustment

“Restatement of beginning net assetsBeginning net assets have been restated to include assets previously not recorded in the financial statements related to DHC' s ownership interest and activities in Davidson Limited Partnership. these corrections consist of a mortgage receivable with principal of $240,000 and accrued interest receivable of $285,835, and DHC's share of accrued incentive management fees of $91,845. these corrections result in an increase in assets and net assets without donor restrictions at July1,2021 of $617,6780.”

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IRS990/Form990PartVIISectionAGrp/PersonNm1Margaret Martens
IRS990/Form990PartVIISectionAGrp/PersonNm2Margo Williams
IRS990/Form990PartVIISectionAGrp/PersonNm3Dick Hay
IRS990/Form990PartVIISectionAGrp/PersonNm4John Woods
IRS990/Form990PartVIISectionAGrp/PersonNm5T Michele Crowell
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Executive Dir.
IRS990/Form990PartVIISectionAGrp/TitleTxt1Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt2Chair Emeritus
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IRS990/Form990PartVIISectionAGrp/TitleTxt4Treasurer
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IRS990/MissionDesc0To work with the larger community to preserve and create affordable housing options and to prepare families and individuals for financial stability and home ownership.
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IRS990/OccupancyGrp/ProgramServicesAmt016968
IRS990/OccupancyGrp/TotalAmt021021
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IRS990/OtherExpensesGrp/Desc0Repairs and Maintenance
IRS990/OtherExpensesGrp/Desc1Homebuyer Assistance
IRS990/OtherExpensesGrp/Desc2Communication
IRS990/OtherExpensesGrp/Desc3Miscellaneous
IRS990/OtherExpensesGrp/FundraisingAmt09532
IRS990/OtherExpensesGrp/FundraisingAmt12898
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01577
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12898
IRS990/OtherExpensesGrp/ProgramServicesAmt082629
IRS990/OtherExpensesGrp/ProgramServicesAmt115636
IRS990/OtherExpensesGrp/ProgramServicesAmt22886
IRS990/OtherExpensesGrp/ProgramServicesAmt36457
IRS990/OtherExpensesGrp/TotalAmt082629
IRS990/OtherExpensesGrp/TotalAmt115636
IRS990/OtherExpensesGrp/TotalAmt213995
IRS990/OtherExpensesGrp/TotalAmt312253
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IRS990/OtherLiabilitiesGrp/EOYAmt015248
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt030750
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt027961
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt047123
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0660883
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IRS990/PayrollTaxesGrp/FundraisingAmt06956
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06603
IRS990/PayrollTaxesGrp/ProgramServicesAmt012089
IRS990/PayrollTaxesGrp/TotalAmt025648
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IRS990/PrincipalOfficerNm0ConnieJ Wessner
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1220306
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1220306
IRS990/ProgSrvcAccomActy2Grp/Desc0HAMMERS - makes low-to-no-cost emergency repairs on owner-occupied homes in Huntersville, Cornelius, Davidson, and Mooresville. To qualify, households must both own and occupy their homes and earn less than 80% of the Area Median Income, or approximately $56,550 for a family of four. The primary goal of the HAMMERS program is to reduce or eliminate the immediate threats to a household's life, health or safety, utilizing volunteer labor and donated material wherever possible to minimize cost. Eligible repairs must be emergency in nature, as determined by qualified volunteer inspectors, and include needs pertaining to accessibility, carpentry, plumbing, roofing, electricity, or furnace/AC functioning.
IRS990/ProgSrvcAccomActy3Grp/Desc0Homebuyer Education and Financial Literacy - Davidson Housing Coalition serves as the arm of the Town of Davidson in its implementation of the Affordable Housing Ordinance. DHC's Homebuyer Education and Financial Literacy program educates, counsels, and qualifies all potential homeowners of units built through this ordinance through Homebuyer Education Workshops, personalized budget and credit counseling, and post-homeownership programming. Counselors work with individuals to repair or improve credit histories and create financial plans.
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,021,594
Liabilities
$771,907
Net assets
$2,249,687
Revenue
$485,310
Expenses
$598,432
Net income
-$113,122
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.00$1.88$2.11$0.83$0.76$0.07
2023Summary only. Only limited summary data is available for this year.$4.07$2.02$2.04$0.46$0.67$0.21
2022Detailed filing. Detailed filing data is available for this year.$3.02$0.77$2.25$0.49$0.60$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.53$0.79$1.75$0.54$0.54$0.00
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.61$0.86$1.75$0.63$0.56$0.07
2019Summary only. Only limited summary data is available for this year.$2.53$0.85$1.68$0.46$0.50$0.04
2018Summary only. Only limited summary data is available for this year.$2.55$0.83$1.72$0.35$0.46$0.11
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.61$0.77$1.83$0.36$0.44$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.76$0.85$1.91$0.36$0.42$0.06
2015Detailed filing. Detailed filing data is available for this year.$2.69$0.73$1.97$0.49$0.39$0.10
2014Detailed filing. Detailed filing data is available for this year.$2.58$0.71$1.87$0.40$0.44$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.84$0.94$1.90$0.43
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.98$1.20$1.78$0.51
2011Summary only. Only limited summary data is available for this year.$3.08$1.40$1.68$0.67$0.50$0.17
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.58$1.08$1.50$0.48