Civic Intelligence

Cannon Housing Inc

990 • Fiscal year 2014 • EIN 58-1743456

Jan 01, 2014 to Dec 31, 2014 • Filed on Apr 29, 2015

Organization ProfileN/A
P O Box 1254Dunn, NC 28335

(910) 892-0436

Siviq Scores

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

Liabilities / Assets

98th percentile

2.25x

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

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

97th percentile

5.21x

Higher debt load relative to revenue than 97% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

6th percentile

-45%

Higher net margin than 6% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

11th percentile

-17%

Faster asset growth than 11% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

69th percentile

16%

Faster revenue growth than 69% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$643,081

Down $128,418 (-17%) from 2013

Net Assets

Down

-$802,527

Down $124,008 (-18%) from 2013

Liabilities

Down

$1,445,608

Down $4,410 (-0.3%) from 2013

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin6th percentile

Revenue

Up

$277,607

Up $38,902 (+16%) from 2013

Expenses

Up

$401,615

Up $79,233 (+25%) from 2013

Net Income

Down

-$124,008

Down $40,331 (-48%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth11th percentile

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

$2.0M$1.0M$0-$1.0M-$2.0MAssets 2010: $958,915Liabilities 2010: $1,491,113Net Assets 2010: -$532,1982010Assets 2011: $944,828Liabilities 2011: $1,485,660Net Assets 2011: -$540,8322011Assets 2012: $881,030Liabilities 2012: $1,475,874Net Assets 2012: -$594,8442012Assets 2013: $771,499Liabilities 2013: $1,450,018Net Assets 2013: -$678,5192013Assets 2014: $643,081Liabilities 2014: $1,445,608Net Assets 2014: -$802,5272014Assets 2015: $590,674Liabilities 2015: $1,409,306Net Assets 2015: -$818,6322015Assets 2016: $539,582Liabilities 2016: $1,422,938Net Assets 2016: -$883,3562016Assets 2017: $450,043Liabilities 2017: $1,531,480Net Assets 2017: -$1,081,4372017Assets 2018: $735,475Liabilities 2018: $1,823,969Net Assets 2018: -$1,088,4942018Assets 2019: $357,567Liabilities 2019: $1,546,647Net Assets 2019: -$1,189,0802019Assets 2020: $369,857Liabilities 2020: $1,498,264Net Assets 2020: -$1,128,4072020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2014

Assets$643,081
Liabilities$1,445,608
Net Assets-$802,527
Open 2014 Filing

Operations Trend

Revenue Growth69th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $317,4092010Revenue 2011: $284,808Expenses 2011: $293,442Net Income 2011: -$8,6342011Expenses 2012: $334,2162012Revenue 2013: $238,705Expenses 2013: $322,382Net Income 2013: -$83,6772013Revenue 2014: $277,607Expenses 2014: $401,615Net Income 2014: -$124,0082014Revenue 2015: $286,882Expenses 2015: $302,987Net Income 2015: -$16,1052015Revenue 2016: $281,327Expenses 2016: $346,051Net Income 2016: -$64,7242016Revenue 2017: $260,040Expenses 2017: $458,121Net Income 2017: -$198,0812017Revenue 2018: $266,138Expenses 2018: $273,197Net Income 2018: -$7,0592018Revenue 2019: $172,285Expenses 2019: $272,871Net Income 2019: -$100,5862019Revenue 2020: $308,115Expenses 2020: $247,442Net Income 2020: $60,6732020Revenue 2021: $1,274,711Expenses 2021: $146,304Net Income 2021: $1,128,4072021

Highlighted filing

2014

Revenue$277,607
Expenses$401,615
Net Income-$124,008
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Apr 29, 2015
Return Version
2014v5.0
Gross Receipts
$277,607
Mission and Program Overview

Mission

Reduced rent housing for elderly & handicapped

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$549,370$495,654▼ $53,716
Prepaid Expenses and Deferred Charges$9,882$9,155▼ $727
Cash and Non-Interest-Bearing Accounts$9,742$5,545▼ $4,197
Accounts Receivable$501$355▼ $146
Total Assets$771,499$643,081▼ $128,418
Other Assets Total$202,004$132,372▼ $69,632
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,420,996$1,402,246▼ $18,750
Accounts Payable and Accrued Expenses$20,477$35,139▲ $14,662
Other Liabilities$7,709$7,938▲ $229
Deferred Revenue$836$285▼ $551
Total Liabilities$1,450,018$1,445,608▼ $4,410
Net Assets / Fund Balance
Unrestricted Net Assets$-678,519$-802,527▼ $124,008
Total Net Assets Fund Balance$-678,519$-802,527▼ $124,008
Total Liabilities and Net Assets / Fund Balance$771,499$643,081▼ $128,418

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$150,012$851,248-
Other Land Buildings$1,720$42,420-
Land$50,000--
Equipment$6,572$57,757-
Leasehold Improvements$287,350$202,024-
Other Assets Org$49,341--
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
Kathy H KennedyAsst Sec/Director
Gene T JerniganDirector
Llewellyn T JerniganDirector
Sylvia W CraftDirector
Don G WellonsPres/Director
Tammy L HowardSec/Treas/Director
John H Wellons JrVP/Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$277,546
Investment Income
$61
Other Revenue
$0
Change in Net Assets
$-124,008

Audited Revenue Reconciliation

Revenue per Audited Statements
$277,607
Total Revenue per Audited Statements
$277,607
Total Revenue per Form 990
$277,607
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$336,190
Salaries, Compensation, and Employee Benefits$65,425
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$85,644$0$0$85,644
Depreciation Depletion$62,081$0$0$62,081
Other Salaries and Wages$0$55,353$0$55,353
Fees for Services Management$0$29,110$0$29,110
Insurance$17,630$0$0$17,630
Office Expenses$0$9,899$0$9,899
Fees for Services Accounting$0$7,620$0$7,620
Occupancy$7,250$0$0$7,250
Other Employee Benefits$0$5,060$0$5,060
Payroll Taxes$0$5,012$0$5,012
Other Expenses$3,472$0$0$3,472
Advertising$2,283$0$0$2,283
Travel$0$951$0$951
Conferences and Meetings$0$737$0$737
Total Functional Expenses$287,873$113,742$0$401,615

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$401,615
Total Expenses per Audited Statements$401,615
Total Expenses per Form 990$401,615
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 Deposits$7,938
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 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
Filing and Contact Details

Filer

Filer Name
Cannon Housing Inc
EIN
58-1743456
Phone
9108920436
Address
P O Box 1254, Dunn, NC 28335

Signing Officer

Name
Don G Wellons
Title
President
Phone
9108920436
Signed
2015-04-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Don G Wellons
Formed
1987
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Collins Kemp & Patterson Pllc
Address
PO BOX 1105, LUMBERTON, NC 28359
Preparer
Matthew a Patterson CPA
Phone
9107381448
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

“Several Board members share a family relationship.”

Pt VI, Line 11B

“Organization makes 990 available to Board members who wish to inspect prior to filing.”

Pt VI, Line 12C

“The conflict of interest policy is reviewed annually during Board meetings.”

Pt VI, Line 15A

“Organization reimburses management company for payroll related expenses.”

Pt VI, Line 15B

“Organization reimburses management company for payroll related expenses.”

Pt VI, Line 19

“Organization has a copy of 990 available for inspection.”

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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/Desc0PROVIDE ELDERLY & HANDICAPPED PERSONS WITH REDUCED RENT HOUSING & SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL & PHYCHOLOGICAL NEEDS & TO PROMOTE THEIR HEALTH, SECURITY,HAPPINESS, & USEFULNESS IN LONGER LIVING. 40 UNITS PROVIDED
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IRS990/Form990PartVIISectionAGrp/PersonNm1JOHN H WELLONS JR
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0238612
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0280092
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0284603
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0284492
IRS990ScheduleA/Total509Grp/TotalAmt01365345
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01366080
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0150012
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0851248
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt01001260
IRS990ScheduleD/EquipmentGrp/BookValueAmt06572
IRS990ScheduleD/EquipmentGrp/DepreciationAmt057757
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt064329
IRS990ScheduleD/ExpensesSubtotalAmt0401615
IRS990ScheduleD/LandGrp/BookValueAmt050000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt050000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0287350
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0202024
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0489374
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt080672
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt12359
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt249341
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OTHER RESTRICTED DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1UTILITY DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2FINANCING COSTS, NET OF AMORTIZATION
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01720
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt042420
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt044140
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07938
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Tenant Deposits
IRS990ScheduleD/RevenueSubtotalAmt0277607
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0495654
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0132372
IRS990ScheduleD/TotalExpensesPerForm990Amt0401615
IRS990ScheduleD/TotalLiabilityAmt07938
IRS990ScheduleD/TotalRevenuePerForm990Amt0277607
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0277607
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0401615
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Several Board members share a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Organization makes 990 available to Board members who wish to inspect prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The conflict of interest policy is reviewed annually during Board meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Organization reimburses management company for payroll related expenses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Organization reimburses management company for payroll related expenses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Organization has a copy of 990 available for inspection.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0771499
IRS990/TotalAssetsEOYAmt0643081
IRS990/TotalAssetsGrp/BOYAmt0771499
IRS990/TotalAssetsGrp/EOYAmt0643081
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0113742
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0287873
IRS990/TotalFunctionalExpensesGrp/TotalAmt0401615
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01450018
IRS990/TotalLiabilitiesEOYAmt01445608
IRS990/TotalLiabilitiesGrp/BOYAmt01450018
IRS990/TotalLiabilitiesGrp/EOYAmt01445608
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-678519
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-802527
IRS990/TotalProgramServiceExpensesAmt0287873
IRS990/TotalProgramServiceRevenueAmt0277546
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0277607
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0277607
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0771499
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0643081
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0951
IRS990/TravelGrp/ProgramServicesAmt00
IRS990/TravelGrp/TotalAmt0951
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-678519
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-802527
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO Box 1254
IRS990/USAddress/CityNm0Dunn
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028335
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DON G WELLONS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09108920436
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-04-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Cannon Housing Inc
ReturnHeader/Filer/BusinessNameControlTxt0CANN
ReturnHeader/Filer/EIN0581743456
ReturnHeader/Filer/PhoneNum09108920436
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O Box 1254
ReturnHeader/Filer/USAddress/CityNm0Dunn
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028335
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0COLLINS KEMP & PATTERSON PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 1105
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LUMBERTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028359
ReturnHeader/PreparerPersonGrp/PhoneNum09107381448
ReturnHeader/PreparerPersonGrp/PreparationDt02015-05-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW A PATTERSON CPA
ReturnHeader/ReturnTs02015-05-12T13:37:20-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$643,081
Liabilities
$1,445,608
Net assets
-$802,527
Revenue
$277,607
Expenses
$401,615
Net income
-$124,008
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.27$0.15$1.13
2020Detailed filing. Detailed filing data is available for this year.$0.37$1.50$1.13$0.31$0.25$0.06
2019Detailed filing. Detailed filing data is available for this year.$0.36$1.55$1.19$0.17$0.27$0.10
2018Detailed filing. Detailed filing data is available for this year.$0.74$1.82$1.09$0.27$0.27$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.45$1.53$1.08$0.26$0.46$0.20
2016Detailed filing. Detailed filing data is available for this year.$0.54$1.42$0.88$0.28$0.35$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.59$1.41$0.82$0.29$0.30$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.64$1.45$0.80$0.28$0.40$0.12
2013Detailed filing. Detailed filing data is available for this year.$0.77$1.45$0.68$0.24$0.32$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$1.48$0.59$0.33
2011Summary only. Only limited summary data is available for this year.$0.94$1.49$0.54$0.28$0.29$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.96$1.49$0.53$0.32