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← HOUSING ASSISTANCE CORPORATION

Form 990 for tax year 2023

Filed by HOUSING ASSISTANCE CORPORATION.

Totals

Total revenue
$2,935,504
Total expenses
$2,789,137
Contributions and grants received
$1,652,598
Grants paid
$0
Program service revenue
$1,002,764
Investment income
$200,607
Other revenue
$79,535
Total assets, end of year
$8,617,800
Total liabilities, end of year
$3,276,590
Net assets or fund balances, end of year
$5,341,210
Program services expenses (Part IX)
$2,477,276
Management and general expenses
$229,940
Fundraising expenses
$81,921
Program service expenses (Part III)
$2,477,276

Program services were 88.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $639,121

  • 1f · All other contributions, gifts and grants

    $1,013,477

  • 1g · Noncash contributions included above

    $88,000

  • 2a · Program service revenue: RENTAL REVENUE

    total $469,933 · related or exempt $469,933

  • 2b · Program service revenue: PROGRAM INCOME

    total $411,793 · related or exempt $411,793

  • 2c · Program service revenue: INCENTIVE MANAGEMENT F

    total $104,557 · related or exempt $104,557

  • 2d · Program service revenue: DEVELOPER FEE

    total $16,481 · related or exempt $16,481

  • 3 · Investment income

    total $8,227 · excluded $8,227

  • 7a · Gross sales of assets other than inventory

    other assets $303,984

  • 7b · Less cost or other basis and sales expenses

    other assets $111,604

  • 7c · Gain or loss

    other assets $192,380

  • 7d · Net gain or loss

    total $192,380 · excluded $192,380

  • 8a · Fundraising events: gross income

    $24,840

  • 8b · Fundraising events: direct expenses

    $18,350

  • 8c · Net income from fundraising events

    total $6,490 · excluded $6,490

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $73,045 · related or exempt $73,045

  • 11e · Other revenue, total

    $73,045

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $183,893 · program services $146,563 · management and general $25,561 · fundraising $11,769

  • 7 · Other salaries and wages

    total $611,151 · program services $487,087 · management and general $84,950 · fundraising $39,114

  • 9 · Other employee benefits

    total $122,661 · program services $97,761 · management and general $17,050 · fundraising $7,850

  • 10 · Payroll taxes

    total $66,261 · program services $52,810 · management and general $9,210 · fundraising $4,241

  • 11g · Fees: other

    total $54,991 · program services $50 · management and general $54,941

  • 13 · Office expenses

    total $21,408 · program services $16,997 · management and general $2,733 · fundraising $1,678

  • 16 · Occupancy

    total $11,778 · program services $8,674 · management and general $2,457 · fundraising $647

  • 17 · Travel

    total $11,977 · program services $10,814 · management and general $1,023 · fundraising $140

  • 20 · Interest

    total $10,763 · program services $8,578 · management and general $1,496 · fundraising $689

  • 22 · Depreciation, depletion and amortization

    total $157,804 · program services $151,673 · management and general $4,198 · fundraising $1,933

  • 23 · Insurance

    total $69,265 · program services $55,204 · management and general $9,628 · fundraising $4,433

  • 24a · Other expenses: PROGRAM EXPENSE

    total $944,358 · program services $944,358

  • 24b · Other expenses: APARTMENT SERVICES

    total $447,350 · program services $447,350

  • 24c · Other expenses: RENTAL LOSS - HIGHLAND

    total $34,264 · program services $34,264

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $13,474 · program services $6,134 · management and general $5,286 · fundraising $2,054

  • 24e · All other expenses

    total $27,739 · program services $8,959 · management and general $11,407 · fundraising $7,373

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,775,922 · end of year $1,467,154

  • 3 · Pledges and grants receivable

    beginning of year $50,149 · end of year $150,124

  • 4 · Accounts receivable

    beginning of year $43,548 · end of year $29,682

  • 7 · Other notes and loans receivable

    beginning of year $1,504,775 · end of year $1,520,627

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,708 · end of year $29,518

  • 10a · Land, buildings and equipment: cost or other basis

    $5,677,444

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,086,207

  • 10c · Land, buildings and equipment, net

    beginning of year $2,639,126 · end of year $2,591,237

  • 13 · Investments: program-related

    beginning of year $70,917 · end of year $101,521

  • 15 · Other assets

    beginning of year $1,603,318 · end of year $2,727,937

  • 17 · Accounts payable and accrued expenses

    beginning of year $116,006 · end of year $143,348

  • 19 · Deferred revenue

    beginning of year $1,171,646 · end of year $1,042,976

  • 23 · Secured mortgages and notes payable

    beginning of year $1,222,843 · end of year $2,076,866

  • 25 · Other liabilities

    beginning of year $13,600 · end of year $13,400

  • 27 · Net assets without donor restrictions

    beginning of year $3,630,655 · end of year $4,185,922

  • 28 · Net assets with donor restrictions

    beginning of year $1,557,713 · end of year $1,155,288

Mission and programs · 2023

Mission

THE HOUSING ASSISTANCE CORPORATION IS A PUBLIC, NON-PROFIT ORGANIZATION COMMITTED TO PROVIDING SAFE AND AFFORDABLE HOUSING FOR PERSONS OF LIMITED INCOME LIVING IN HENDERSON COUNTY AND SURROUNDING AREAS, BECAUSE WE BELIEVE EVERY HUMAN BEING DESERVES THE OPPORTUNITY TO LIVE IN A DECENT HOME.

  • MULTI-FAMILY DEVELOPMENT:HAC HAS CREATED 360 UNITS OF AFFORDABLE RENTAL HOUSING IN HENDERSON COUNTY OVER THE LAST 35 YEARS. THE UNITS ARE ALL AFFORDABLE, SOME ARE TRANSITIONAL HOUSING, AND ALL SERVE VARIOUS POPULATIONS INCLUDING SENIORS, FAMILIES, VETERANS, AGRICULTURAL WORKERS, SURVIVORS OF INTERPERSONAL VIOLENCE, AND INDIVIDUALS WITH PHYSICAL, MENTAL OR DEVELOPMENT DISABILITIES.

    Expenses $794,114 · Revenue $1,075,809

  • SINGLE-FAMILY DEVELOPMENT:IN 2023, HAC COMPLETED 9 SINGLE FAMILY HOMES IN HENDERSON COUNTY AND BEGAN CONSTRUCTION ON 6 OTHERS WHICH WILL BE COMPLETED IN 2024. OVER ITS HISTORY HAC HAS BUILT 207 SINGLE FAMILY HOMES IN HENDERSON COUNTY AND POLK COUNTY AND IS WORKING TO EXPAND TO TRANSYLVANIA COUNTY WHEN LAND BECOMES AVAILABLE. OUR HOUSING COUNSELORS WORKED WITH 614 HOUSEHOLDS IN THE RECRUITMENT PROCESS AT YEAR END.

    Expenses $632,714

  • HOME REPAIR AND REHABILITATION:HAC COMPLETED 548 REPAIRS FOR 83 HOUSEHOLDS OR 184 PEOPLE IN 2023.

    Expenses $1,050,448

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Steve Wilkie

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Tyler Henry

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Jennifer Duvall

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Blanca Sanchez

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Hilton Swing

    MEMBER-AT-LARGE

    Total calculated
    $0
    Hours/week
    1

  • Noelle McKay

    MEMBER-AT-LARGE

    Total calculated
    $0
    Hours/week
    1

  • Itzia Moreno

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Keith Norton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sonya Flynn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nory Lebrun

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Doug Harris

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jane Mayer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mallory Benjamin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Maynor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kristin Dunn 310-1027

    EXECUTIVE DIRECTOR

    Total calculated
    $64,819
    From this org
    $63,476
    From related orgs
    $0
    Other
    $1,343
    Hours/week
    40

  • Sean Rose 11-39

    INTERIM EXECUTIVE DIRECTOR

    Total calculated
    $90,976
    From this org
    $76,863
    From related orgs
    $0
    Other
    $14,113
    Hours/week
    40

  • Susan Frady 1028-1231

    INTERIM EXECUTIVE DIRECTOR

    Total calculated
    $43,554
    From this org
    $43,554
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • PARKVIEW APARTMENTS LIMITED PARTNERSHIP

    RELATED · APARTMENT RENTALS · NC · 99% owned · share of income $13,681 · share of assets $904,462

    Directly controlled by THE HOUSING ASSISTANCE CORPORATION

  • HIGHLAND VIEW LIMITED PARTNERSHIP

    RELATED · APARTMENT RENTALS · NC · 99% owned · share of income -$41,323 · share of assets $1,224,468

    Directly controlled by THE HOUSING ASSISTANCE CORPORATION

  • HILLSIDE COMMONS LIMITED PARTNERSHIP

    RELATED · APARTMENT RENTALS · NC · 99.99% owned · share of income $77,851 · share of assets $988,643

    Directly controlled by THE HOUSING ASSISTANCE CORPORATION

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • HIGHLAND VIEW GP INC

    C · APARTMENT RENTAL · NC · 100% owned · share of income -$4 · controlled entity

    Directly controlled by THE HOUSING ASSISTANCE CORPORATION

  • HILLSIDE COMMONS GP INC

    C · APARTMENT RENTAL · NC · 100% owned · controlled entity

    Directly controlled by THE HOUSING ASSISTANCE CORPORATION

  • SUGAR HILL GP INC

    C · APARTMENT RENTAL · NC · 100% owned · share of income -$3 · share of assets $600 · controlled entity

    Directly controlled by THE HOUSING ASSISTANCE CORPORATION

  • OAK HAVEN APARTMENTS GP INC

    C · APARTMENT RENTAL · NC · 100% owned · share of income -$5 · controlled entity

    Directly controlled by THE HOUSING ASSISTANCE CORPORATION

  • PARKVIEW THAC GP INC

    C · APARTMENT RENTAL · NC · 100% owned · share of assets $703 · controlled entity

    Directly controlled by THE HOUSING ASSISTANCE CORPORATION

  • OKLAWAHA VILLAGE APARTMENTS LLC

    C · REAL ESTATE INVESTMENT · NC · 100% owned · share of income -$18 · controlled entity

    Directly controlled by THE HOUSING ASSISTANCE CORPORATION

Provenance

Return type
form_990
Tax year
2023
Filed
13 January 2025
IRS schema version
2023v6.0
Source object
202530159349300218

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