Granville Place Inc.

990 • Fiscal year 2014 • EIN 58-1348601

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 03, 2014

Organization Profile NCHSM.ORG

750 Bethesda Road27103

(336) 765-3906

Siviq Scores

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

1.40x

Higher debt load relative to assets than 85% of similar nonprofits.

2014 filings • NTEE L • $1M-$5M nonprofits • Source year 2014

2.81x

Higher debt load relative to revenue than 54% of similar nonprofits.

2014 filings • NTEE L • $1M-$5M nonprofits • Source year 2014

-8.4%

Higher net margin than 47% of similar nonprofits.

2014 filings • NTEE L • $1M-$5M nonprofits • Source year 2014

Higher top officer pay than 53% of similar nonprofits.

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

2014 filings • NTEE L • $1M-$5M nonprofits • Source year 2014

-5.2%

Faster asset growth than 20% of similar nonprofits.

2014 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2013 to 2014

6.9%

Faster revenue growth than 74% of similar nonprofits.

2014 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet

Liabilities / Assets85th percentile

Assets

Down

$1,546,630

Down $84,813 (-5.2%) from 2013

Net Assets

Down

-$618,955

Down $64,771 (-12%) from 2013

Liabilities

Down

$2,165,585

Down $20,042 (-0.9%) from 2013

Revenue And Expenses

Liabilities / Revenue54th percentile Net Margin47th percentile

Revenue

$769,837

Up $49,784 (+6.9%) from 2013

Expenses

Down

$834,608

Down $1,037 (-0.1%) from 2013

Net Income

-$64,771

Up $50,821 (+44%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

Highlighted filing

2014

Assets$1,546,630

Liabilities$2,165,585

Net Assets-$618,955

Open 2014 Filing

Operations Trend

Revenue Growth74th percentile

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

Highlighted filing

2014

Revenue$769,837

Expenses$834,608

Net Income-$64,771

Open 2014 Filing

Jump To

Filing Snapshot

Filing Period: Jul 1, 2013 to Jun 30, 2014
Signed: Nov 3, 2014
Return Version: 2013v3.0
Gross Receipts: $770,815

Mission and Program Overview

Mission

Developing and operating a section 202 apartment complex for the low income elderly

Own and operate a 101 unit hud-regulated apartment complex for the elderly

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Land, Buildings, and Equipment, Net	$1,137,692	$1,030,756	▼ $106,936
Savings and Temporary Cash Investments	-	$313,861	-
Intangible Assets	$127,520	$123,046	▼ $4,474
Cash and Non-Interest-Bearing Accounts	$54,180	$28,946	▼ $25,234
Prepaid Expenses and Deferred Charges	$8,404	$17,440	▲ $9,036
Accounts Receivable	$7,831	$5,273	▼ $2,558
Total Assets	$1,631,443	$1,546,630	▼ $84,813
Other Assets Total	$295,816	$27,308	▼ $268,508
Liabilities
Mortgage Notes Payable Secured by Investment Property	$2,111,337	$2,081,479	▼ $29,858
Accounts Payable and Accrued Expenses	$46,431	$56,811	▲ $10,380
Other Liabilities	$27,319	$27,252	▼ $67
Deferred Revenue	$540	$43	▼ $497
Total Liabilities	$2,185,627	$2,165,585	▼ $20,042
Net Assets / Fund Balance
Unrestricted Net Assets	$-554,184	$-618,955	▼ $64,771
Total Net Assets Fund Balance	$-554,184	$-618,955	▼ $64,771
Total Liabilities and Net Assets / Fund Balance	$1,631,443	$1,546,630	▼ $84,813

Asset Categories

Asset	Book Value	Depreciation	Basis
Buildings	$923,038	$2,317,560	$3,240,598
Equipment	$32,240	$184,977	$217,217
Other Land Buildings	$21,478	$47,697	$69,175
Land	$54,000	-	$54,000

Compensation and Service Providers

Top Officer Pay53rd percentile

Board Members and Trustees

Name	Title
Robert Sanders Jr	President
Craig Peatross	Vice President
Bill Board	Director
Dr Frank Celestino	Director
Joycelyn Johnson	Director
John Nichols	Asst. Secretary, Asst VP
Mallory Oates	Secretary
Tammy Vernon	Treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $461,222
Program Service Revenue: $308,015
Investment Income: $600
Other Revenue: $0
Change in Net Assets: $-64,771

Audited Revenue Reconciliation

Revenue per Audited Statements: $769,837
Revenue Not Reported on Financial Statements: $0
Revenue Not Reported on Form 990: $0
Total Revenue per Audited Statements: $769,837
Total Revenue per Form 990: $769,837

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$834,608
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
Interest	$121,109	-	-	$121,109
Depreciation Depletion	$116,695	-	-	$116,695
All Other Expenses	$100,027	$4,700	-	$104,727
Insurance	$61,323	-	-	$61,323
Fees for Services Management	$57,262	-	-	$57,262
Occupancy	$44,642	-	-	$44,642
Other Expenses	$37,702	-	-	$37,702
Office Expenses	$26,254	-	-	$26,254
Fees for Services Accounting	-	$5,870	-	$5,870
Advertising	$299	-	-	$299
Total Functional Expenses	$824,038	$10,570	$0	$834,608

Audited Expense Reconciliation

Line Item	Amount
Expenses per Audited Statements	$834,608
Total Expenses per Audited Statements	$834,608
Total Expenses per Form 990	$834,608
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 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 Tax-Exempt Organizations

Organization	Location	Activity	Code	Public Charity	Controlled
56-0929051	-	Low Income Housing	501(c)(3)	Line 9	No
20-2069681	-	Low Income Housing	501(c)(3)	Line 9	No
58-2168448	-	Low Income Housing	501(c)(3)	Line 9	No
58-2004370	-	Low Income Housing	501(c)(3)	Line 9	No
26-3202574	-	Low Income Housing	501(c)(3)	Line 9	No
58-1394455	-	Low Income Housing	501(c)(3)	Line 9	No
20-0724481	-	Low Income Housing	501(c)(3)	Line 9	No
58-1478146	-	Low Income Housing	501(c)(3)	Line 9	No
58-2024187	-	Low Income Housing	501(c)(3)	Line 9	No
80-0368717	-	Low Income Housing	501(c)(3)	Line 9	No
55-0824558	-	Low Income Housing	501(c)(3)	Line 9	No
58-1366719	-	Low Income Housing	501(c)(3)	Line 9	No
27-5554898	-	Low Income Housing	501(c)(3)	Line 9	No
56-1983872	-	Low Income Housing	501(c)(3)	Line 9	No
86-1068239	-	Low Income Housing	501(c)(3)	Line 9	No
56-2082472	-	Low Income Housing	501(c)(3)	Line 9	No
56-2082473	-	Low Income Housing	501(c)(3)	Line 9	No
56-2094942	-	Low Income Housing	501(c)(3)	Line 9	No
56-2082475	-	Low Income Housing	501(c)(3)	Line 9	No
46-0961990	-	Low Income Housing	501(c)(3)	Line 9	No
45-0705485	-	Low Income Housing	501(c)(3)	Line 9	No
56-2087570	-	Low Income Housing	501(c)(3)	Line 9	No

Debt and Bond Financing

Other Reported Liabilities

Liability	Amount
Tenant Security Deposits	$27,252

Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant: No
Audit committee: Yes
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: No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The tax return is reviewed by the director of finance of the management company and signed by the assistant vice president of the owner. Both individuals report to the board of directors.”

Form 990, Part VI, Section C, Line 19

“The organization has no written conflict of interest policy. Governing documents, financial statements and other pertinent informaton are provided to the public upon request.”

Filing and Contact Details

Filer

EIN: 58-1348601
Phone: 3367653906

Signing Officer

Name: John Nichols
Title: Asst Vice President
Phone: 3367653906
Signed: 2014-11-03
Discuss with paid preparer: Yes

Organization Details

Principal Officer: John Nichols
Formed: 1978
Legal Domicile: Nc
Voting Board Members: 6
Independent Board Members: 6
Employees: 0
Volunteers: 8

Preparer

Preparer: Rhonda F Skiles
Phone: 3362944494

Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Office salary reimbursement: program service expenses 33,766. Management and general expenses 0. Fundraising expenses 0. Total expenses 33,766. Supplies: program service expenses 19,431. Management and general expenses 0. Fundraising expenses 0. Total expenses 19,431. Payroll tax reimbursement: program service expenses 12,283. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,283. Mortgage insurance premiums: program service expenses 9,428. Management and general expenses 0. Fundraising expenses 0. Total expenses 9,428. Garbage and trash removal: program service expenses 6,439. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,439. Vehicle repairs & maintenance: program service expenses 6,231. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,231. Misc administrative expenses: program service expenses 0. Management and general expenses 4,700. Fundraising expenses 0. Total expenses 4,700. Security contract: program service expenses 4,635. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,635. Bad debts: program service expenses 2,937. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,937. Misc. Operating expenses: program service expenses 1,671. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,671. Hvac repairs & maintenance: program service expenses 1,251. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,251. Other renting expenses: program service expenses 1,069. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,069. Snow removal: program service expenses 720. Management and general expenses 0. Fundraising expenses 0. Total expenses 720. Conventions and meetings: program service expenses 163. Management and general expenses 0. Fundraising expenses 0. Total expenses 163. Misc. Financial expenses: program service expenses 3. Management and general expenses 0. Fundraising expenses 0. Total expenses 3.”

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 2014. Currently, the statute of limitations remains open subsequent to and including 2011; however, no examinations are in process or anticipated.”

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IRS990/OtherExpensesGrp/Desc	3	MANAGER SALARY REIMBURS
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IRS990/OtherExpensesGrp/ProgramServicesAmt	1	88223
IRS990/OtherExpensesGrp/ProgramServicesAmt	2	67584
IRS990/OtherExpensesGrp/ProgramServicesAmt	3	37702
IRS990/OtherExpensesGrp/TotalAmt	0	102918
IRS990/OtherExpensesGrp/TotalAmt	1	88223
IRS990/OtherExpensesGrp/TotalAmt	2	67584
IRS990/OtherExpensesGrp/TotalAmt	3	37702
IRS990/OtherLiabilitiesGrp/BOYAmt	0	27319
IRS990/OtherLiabilitiesGrp/EOYAmt	0	27252
IRS990/PartialLiquidationInd	0	0
IRS990/PoliticalCampaignActyInd	0	0
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt	0	8404
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt	0	17440
IRS990/PrincipalOfficerNm	0	JOHN NICHOLS
IRS990/ProfessionalFundraisingInd	0	0
IRS990/ProgramServiceRevenueGrp/BusinessCd	0	531110
IRS990/ProgramServiceRevenueGrp/BusinessCd	1	531110
IRS990/ProgramServiceRevenueGrp/BusinessCd	2	531110
IRS990/ProgramServiceRevenueGrp/BusinessCd	3	531110
IRS990/ProgramServiceRevenueGrp/BusinessCd	4	531110
IRS990/ProgramServiceRevenueGrp/Desc	0	TENANT RENTS
IRS990/ProgramServiceRevenueGrp/Desc	1	INSURANCE PROCEEDS
IRS990/ProgramServiceRevenueGrp/Desc	2	LAUNDRY AND VENDING
IRS990/ProgramServiceRevenueGrp/Desc	3	CABLE TV
IRS990/ProgramServiceRevenueGrp/Desc	4	TENANT CHARGES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	0	261187
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	1	34980
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	2	10519
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	3	1265
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt	4	64
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	0	261187
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	1	34980
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	2	10519
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	3	1265
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt	4	64
IRS990/ProhibitedTaxShelterTransInd	0	0
IRS990/PYBenefitsPaidToMembersAmt	0	0
IRS990/PYContributionsGrantsAmt	0	0
IRS990/PYExcessBenefitTransInd	0	0
IRS990/PYGrantsAndSimilarPaidAmt	0	0
IRS990/PYInvestmentIncomeAmt	0	321
IRS990/PYOtherExpensesAmt	0	629116
IRS990/PYOtherRevenueAmt	0	0
IRS990/PYProgramServiceRevenueAmt	0	719732
IRS990/PYRevenuesLessExpensesAmt	0	-115592
IRS990/PYSalariesCompEmpBnftPaidAmt	0	206529
IRS990/PYTotalExpensesAmt	0	835645
IRS990/PYTotalProfFndrsngExpnsAmt	0	0
IRS990/PYTotalRevenueAmt	0	720053
IRS990/QuidProQuoContributionsInd	0	0
IRS990/ReconcilationRevenueExpnssAmt	0	-64771
IRS990/RelatedEntityInd	0	1
IRS990/RelatedOrganizationCtrlEntInd	0	0
IRS990/ReportInvestmentsOtherSecInd	0	0
IRS990/ReportLandBuildingEquipmentInd	0	1
IRS990/ReportOtherAssetsInd	0	0
IRS990/ReportOtherLiabilitiesInd	0	1
IRS990/ReportProgramRelatedInvstInd	0	0
IRS990/RevenueAmt	0	308320
IRS990/SavingsAndTempCashInvstGrp/EOYAmt	0	313861
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt	0	0
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt	0	461222
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt	0	461222
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt	0	295
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt	0	321
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt	0	458
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt	0	564
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt	0	796
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt	0	2434
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt	0	308320
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt	0	719732
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt	0	710204
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt	0	700643
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt	0	682941
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt	0	3121840
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt	0	295
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt	0	321
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt	0	458
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt	0	564
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt	0	796
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt	0	2434
IRS990ScheduleA/InvestmentIncomeCYPct	0	0.00070
IRS990ScheduleA/InvestmentIncomePYPct	0	0.00110
IRS990ScheduleA/PubliclySupportedOrg509a2Ind	0	X
IRS990ScheduleA/PublicSupportCY509Pct	0	0.99930
IRS990ScheduleA/PublicSupportPY509Pct	0	0.99890
IRS990ScheduleA/PublicSupportTotal509Amt	0	3583062
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt	0	0
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt	0	0
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind	0	X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt	0	769542
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt	0	719732
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt	0	710204
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt	0	700643
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt	0	682941
IRS990ScheduleA/Total509Grp/TotalAmt	0	3583062
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt	0	769837
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt	0	720053
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt	0	710662
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt	0	701207
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt	0	683737
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt	0	3585496
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2	0	RESTRICTED
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
IRS990ScheduleD/BuildingsGrp/BookValueAmt	0	923038
IRS990ScheduleD/BuildingsGrp/DepreciationAmt	0	2317560
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt	0	3240598
IRS990ScheduleD/EquipmentGrp/BookValueAmt	0	32240
IRS990ScheduleD/EquipmentGrp/DepreciationAmt	0	184977
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt	0	217217
IRS990ScheduleD/ExpensesNotReportedAmt	0	0
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt	0	0
IRS990ScheduleD/ExpensesSubtotalAmt	0	834608
IRS990ScheduleD/FootnoteTextInd	0	X
IRS990ScheduleD/LandGrp/BookValueAmt	0	54000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt	0	54000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt	0	21478
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt	0	47697
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt	0	69175
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt	0	27252
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	0	TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt	0	0
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt	0	0
IRS990ScheduleD/RevenueSubtotalAmt	0	769837
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt	0	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 2014. CURRENTLY, THE STATUTE OF LIMITATIONS REMAINS OPEN SUBSEQUENT TO AND INCLUDING 2011; HOWEVER, NO EXAMINATIONS ARE IN PROCESS OR ANTICIPATED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc	0	PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt	0	1030756
IRS990ScheduleD/TotalExpensesPerForm990Amt	0	834608
IRS990ScheduleD/TotalLiabilityAmt	0	27252
IRS990ScheduleD/TotalRevenuePerForm990Amt	0	769837
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt	0	769837
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt	0	834608
IRS990/ScheduleJRequiredInd	0	0
IRS990/ScheduleORequiredInd	0	1
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	THE TAX RETURN IS REVIEWED BY THE DIRECTOR OF FINANCE OF THE MANAGEMENT COMPANY AND SIGNED BY THE ASSISTANT VICE PRESIDENT OF THE OWNER. BOTH INDIVIDUALS REPORT TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	THE ORGANIZATION HAS NO WRITTEN CONFLICT OF INTEREST POLICY. GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND OTHER PERTINENT INFORMATON ARE PROVIDED TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	OFFICE SALARY REIMBURSEMENT: PROGRAM SERVICE EXPENSES 33,766. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 33,766. SUPPLIES: PROGRAM SERVICE EXPENSES 19,431. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 19,431. PAYROLL TAX REIMBURSEMENT: PROGRAM SERVICE EXPENSES 12,283. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,283. MORTGAGE INSURANCE PREMIUMS: PROGRAM SERVICE EXPENSES 9,428. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,428. GARBAGE AND TRASH REMOVAL: PROGRAM SERVICE EXPENSES 6,439. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,439. VEHICLE REPAIRS & MAINTENANCE: PROGRAM SERVICE EXPENSES 6,231. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,231. MISC ADMINISTRATIVE EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 4,700. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,700. SECURITY CONTRACT: PROGRAM SERVICE EXPENSES 4,635. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,635. BAD DEBTS: PROGRAM SERVICE EXPENSES 2,937. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,937. MISC. OPERATING EXPENSES: PROGRAM SERVICE EXPENSES 1,671. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,671. HVAC REPAIRS & MAINTENANCE: PROGRAM SERVICE EXPENSES 1,251. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,251. OTHER RENTING EXPENSES: PROGRAM SERVICE EXPENSES 1,069. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,069. SNOW REMOVAL: PROGRAM SERVICE EXPENSES 720. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 720. CONVENTIONS AND MEETINGS: PROGRAM SERVICE EXPENSES 163. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 163. MISC. FINANCIAL EXPENSES: PROGRAM SERVICE EXPENSES 3. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	FORM 990, PART IX, LINE 24E
IRS990ScheduleR/AssetExchangeInd	0	0
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd	0	0
IRS990ScheduleR/AssetSaleToOtherOrgInd	0	0
IRS990ScheduleR/DivRelatedOrganizationInd	0	0
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd	0	0
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd	0	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	0	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	1	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	2	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	3	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	4	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	5	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	6	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	7	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	8	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	9	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	10	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	11	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	12	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	13	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	14	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	15	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	16	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	17	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	18	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	19	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	20	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd	21	0
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	0	NORTH CAROLINA HOUSING FOUNDATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	1	GOLER PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	2	GLADSTONE HOUSING INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	3	GRANVILLE PLAZA INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	4	HUNTERS HILL INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	5	KORNER HOMES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	6	LEGACY PLACE OF CATAWBA VALLEY INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	7	MOCK PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	8	MOUNTAIN PLACE INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	9	TYRO SCHOOL APARTMENTS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1	10	EAST SALEM APARTMENTS INC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $1,546,630
Liabilities: $2,165,585
Net assets: -$618,955
Revenue: $769,837
Expenses: $834,608
Net income: -$64,771

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$2.24	$1.62	$0.62	$1.23	$0.96	$0.27
2023Summary only. Only limited summary data is available for this year.	$2.00	$1.89	$0.11	$1.10	$0.90	$0.20
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$1.82	$1.91	$0.09	$1.20	$0.91	$0.29
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$1.51	$1.88	$0.37	$1.05	$0.79	$0.26
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$1.26	$1.90	$0.64	$0.83	$0.76	$0.07
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$1.25	$1.95	$0.70	$0.80	$0.77	$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$1.28	$2.01	$0.73	$0.79	$0.75	$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.	$1.28	$2.05	$0.77	$0.77	$0.77	$0.00
2016Detailed filing. Detailed filing data is available for this year.	$1.33	$2.09	$0.76	$0.75	$0.84	$0.09
2015Detailed filing. Detailed filing data is available for this year.	$1.45	$2.13	$0.67	$0.75	$0.81	$0.06
2014Detailed filing. Detailed filing data is available for this year.	$1.55	$2.17	$0.62	$0.77	$0.83	$0.06
2013Summary only. Only limited summary data is available for this year.	$1.63	$2.19	$0.55	$0.72	$0.84	$0.12
2012Summary only. Only limited summary data is available for this year.	$1.78	$2.22	$0.44	$0.71	$0.82	$0.11
2011Summary only. Only limited summary data is available for this year.	$1.91	$2.24	$0.33	$0.70	$0.77	$0.06