Civic Intelligence

The Davidson Housing Coalition

990 • Fiscal year 2023 • EIN 56-2057448

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

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

52nd percentile

0.50x

Higher debt load relative to assets than 52% of similar nonprofits.

2023 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

60th percentile

4.37x

Higher debt load relative to revenue than 60% of similar nonprofits.

2023 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2023

Net Margin

29th percentile

-45%

Higher net margin than 29% of similar nonprofits.

2023 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

51st percentile

$55,000

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 11.9% of source-year revenue.

2023 filings • NTEE L20 • $1M-$5M nonprofits • Source year 2023

Asset Growth

94th percentile

35%

Faster asset growth than 94% of similar nonprofits.

2023 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

28th percentile

-4.6%

Faster revenue growth than 28% of similar nonprofits.

2023 filings • NTEE L20 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Flat

$4,065,887

Flat from 2023

Net Assets

Flat

$2,042,720

Flat from 2023

Liabilities

Flat

$2,023,167

Flat from 2023

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin29th percentile

Revenue

Flat

$462,855

Flat from 2023

Expenses

Flat

$669,822

Flat from 2023

Net Income

Flat

-$206,967

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth94th 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 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

2023

Assets$4,065,887
Liabilities$2,023,167
Net Assets$2,042,720
Open 2023 Filing

Operations Trend

Revenue Growth28th 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 2023: $462,855Expenses 2023: $669,822Net Income 2023: -$206,9672023Revenue 2024: $829,256Expenses 2024: $758,924Net Income 2024: $70,3322024

Highlighted filing

2023

Revenue$462,855
Expenses$669,822
Net Income-$206,967
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$462,855
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$2,153,977$3,772,144▲ $1,618,167
Other Notes and Loans Receivable, Net$660,883$0▼ $660,883
Savings and Temporary Cash Investments$84,372$251,219▲ $166,847
Pledges and Grants Receivable$19,500$28,500▲ $9,000
Prepaid Expenses and Deferred Charges$6,763$9,715▲ $2,952
Accounts Receivable$96,049$4,259▼ $91,790
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$3,021,594$4,065,887▲ $1,044,293
Other Assets Total$50$50→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$743,813$1,916,851▲ $1,173,038
Accounts Payable and Accrued Expenses$12,846$69,303▲ $56,457
Other Liabilities$15,248$37,013▲ $21,765
Total Liabilities$771,907$2,023,167▲ $1,251,260
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,006,476$1,809,917▼ $196,559
Net Assets With Donor Restrictions$243,211$232,803▼ $10,408
Total Net Assets Fund Balance$2,249,687$2,042,720▼ $206,967
Total Liabilities and Net Assets / Fund Balance$3,021,594$4,065,887▲ $1,044,293

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,374,539$1,497,786$3,872,325
Land$1,392,176-$1,392,176
Equipment$5,429$38,296$43,725
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Connie WessnerExecutive DirectorFT$55,000$55,000

Board Members and Trustees

NameTitle
Margaret MartensChair
Libby CableVice Chair
Bruce McMillenDirector
Carly SchianoDirector
Carol RobinsonDirector
Cole BartonDirector
Darrell Van PeltDirector
Jim FullerDirector
Marc RoperDirector
Margo WilliamsDirector
Shawn CopelandDirector
Twanna Green SmithDirector
T Michele CrowellSecretary
John WoodsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$237,311
Program Service Revenue
$225,467
Investment Income
$77
Other Revenue
$0
All Other Contributions
$237,311
Change in Net Assets
$-206,967

Audited Revenue Reconciliation

Revenue per Audited Statements
$462,855
Total Revenue per Audited Statements
$462,855
Total Revenue per Form 990
$462,855
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$475,971
Salaries, Compensation, and Employee Benefits$193,851
Total Fundraising Expense$54,578
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$70,139$32,576$7,050$109,765
Depreciation Depletion$103,757$1,934$1,934$107,625
Current Officers, Directors, Trustees, and Key Employees$32,500$16,250$16,250$65,000
Fees for Services Other$5,702$31,983$11,422$49,107
Interest$39,112--$39,112
Occupancy$21,952$3,875$1,804$27,631
Insurance$24,850$230$230$25,310
Payroll Taxes$11,238$5,356$2,492$19,086
All Other Expenses$6,515$2,489$1,158$10,162
Other Expenses$2,517$3,325$3,325$9,167
Travel-$905-$905
Total Functional Expenses$426,789$188,455$54,578$669,822

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$669,822
Total Expenses per Audited Statements$669,822
Total Expenses per Form 990$669,822
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$32,304
Prepaid rent$4,709
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, Section B, Line 11B

“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, Section B, Line 12C

“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, Section B, Line 15A

“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, Section B, Line 15B

“See response to item 15(a) above.”

Form 990, Part VI, Section C, Line 19

“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
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
ConnieJ Wessner
Formed
1997
Legal Domicile
Nc
Voting Board Members
14
Independent Board Members
14
Employees
5
Volunteers
125

Preparer

Firm
Foard and Company PA
Address
1347 Harding Place, Charlotte, NC 28204
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/PersonNm4John Woods
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt4Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt5Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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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/OtherExpensesGrp/Desc0Repairs and Maintenance
IRS990/OtherExpensesGrp/Desc1Bad Debt
IRS990/OtherExpensesGrp/Desc2Communication
IRS990/OtherExpensesGrp/Desc3Miscellaneous
IRS990/OtherExpensesGrp/FundraisingAmt08913
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11749
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IRS990/PayrollTaxesGrp/FundraisingAmt02492
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05356
IRS990/PayrollTaxesGrp/ProgramServicesAmt011238
IRS990/PayrollTaxesGrp/TotalAmt019086
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IRS990/PrincipalOfficerNm0ConnieJ Wessner
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IRS990/ProgramServiceRevenueGrp/Desc0Development & Other Fees
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1225292
IRS990/ProgSrvcAccomActy2Grp/Desc0HAMMERS: This home repair program makes low- or no-cost improvements to owner-occupied homes in Davidson. Eligible recipients document ownership of the property and income that is 80% or less than area median income. The program is open to applicants on a first-come, first-funded basis. Repairs are funded through a combination of grants, in-kind donations of materials and skilled labor, and volunteers. The program was closed during the COVID pandemic because its main source of funding, an annual event was cancelled for three years running. We reopened with a pilot project this year, taking on a single client and using a grant to fund the repairs.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03498
IRS990/ProgSrvcAccomActy3Grp/Desc0Affordable homeownership opportunities: DHC holds a groundlease interest in 14 properties in Davidson. These homes are owner-occupied. Under the groundlease arrangement, the homeowner pays a nominal monthly rent to us for use of the land, retains ownership of the improvements, agrees to shared distribution of the homes appreciated value on sale, and prioritizes sale to another qualified buyer whose income is 80% of less of area median income.
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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,065,887
Liabilities
$2,023,167
Net assets
$2,042,720
Revenue
$462,855
Expenses
$669,822
Net income
-$206,967
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
2023Detailed filing. Detailed filing data is available for this year.$4.07$2.02$2.04$0.46$0.67$0.21
2023Summary only. Only limited summary data is available for this year.$4.07$2.02$2.04$0.46$0.67$0.21
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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