Totals
- Total revenue
- $229,692
- Total expenses
- $320,569
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $232,745
- Investment income
- -$3,053
- Other revenue
- $0
- Total assets, end of year
- $2,783,011
- Total liabilities, end of year
- $43,993
- Net assets or fund balances, end of year
- $2,739,018
- Program services expenses (Part IX)
- $303,873
- Management and general expenses
- $16,696
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $303,873
Program services were 94.8% 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.
-
2a · Program service revenue: CONDOMINIUMS
total $232,745 · excluded $232,745
-
3 · Investment income
total $8,076 · excluded $8,076
-
7a · Gross sales of assets other than inventory
other assets $145,000
-
7b · Less cost or other basis and sales expenses
other assets $156,129
-
7c · Gain or loss
other assets -$11,129
-
7d · Net gain or loss
total -$11,129 · related or exempt -$11,129
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total -$291 · management and general -$291
-
11c · Fees: accounting
total $5,532 · management and general $5,532
-
11f · Fees: investment management
total $11,455 · management and general $11,455
-
16 · Occupancy
total $29,566 · program services $29,566
-
22 · Depreciation, depletion and amortization
total $95,894 · program services $95,894
-
24a · Other expenses: HOA DUES
total $70,763 · program services $70,763
-
24b · Other expenses: MANAGEMENT FEES
total $62,820 · program services $62,820
-
24c · Other expenses: REPAIRS
total $40,470 · program services $40,470
-
24d · Other expenses: OFFICE EXPENSES
total $4,360 · program services $4,360
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $428,699 · end of year $130,299
-
9 · Prepaid expenses and deferred charges
beginning of year $15,840 · end of year $20,539
-
10a · Land, buildings and equipment: cost or other basis
$2,747,723
-
10b · Land, buildings and equipment: accumulated depreciation
$115,550
-
10c · Land, buildings and equipment, net
beginning of year $2,444,990 · end of year $2,632,173
-
15 · Other assets
beginning of year $100,520
-
17 · Accounts payable and accrued expenses
beginning of year $132,154 · end of year $43,993
-
27 · Net assets without donor restrictions
beginning of year $2,857,895 · end of year $2,739,018
Mission and programs · 2024
Mission
TO BUY, RENOVATE, RENT, AND ULTIMATELY SELL HOMES TO QUALIFIED BUYERS AS A PATH TO HOMEOWNERSHIP.
-
HCR-FC MARLBOROUGH WOODS, LLC ACQUIRES RENTAL UNITS IN THE MARLBOROUGH WOODS NEIGHBORHOOD WITH THE PURPOSE OF PROVIDING OPPORTUNITIES FOR TENANTS TO BECOME HOMEOWNERS. IT IS ANTICIPATED OVER A 10 YEAR PERIOD THAT CURRENT TENANTS WILL TURNOVER AND THAT NEW HOMEBUYERS WILL BE IDENTIFIED FOR THE UNITS. WHILE TENANTS ARE RENTING, FREEDOM COMMUNITIES PROVIDES TENANT MANAGEMENT AND SUPPORT FOR FAMILIES. EACH TENANT HAS THE OPPORTUNITY TO MEET WITH A CASE WORKER TO DETERMINE THE NEEDS OF THE FAMILY AND CONNECT THEM WITH THE COMMUNITY RESOURCES THAT WILL SERVE THEM BEST. HABITAT CHARLOTTE REGION PROVIDES OPPORTUNITIES FOR RESIDENTS TO PARTICIPATE IN ITS VARIOUS FINANCIAL LITERACY PROGRAMS TO ASSESS HOME BUYER READINESS AND UPON COMPLETION, WILL DETERMINE IF THEY ARE PREPARED TO PURCHASE ONE OF THE MARLBOROUGH WOODS UNITS OR ANOTHER HOUSING SOLUTION ELSEWHERE. AS TENANTS MOVE OUT, HABITAT CHARLOTTE REGION REHABS THE UNITS INCLUDING REMODELING THE KITCHEN AND BATH, REPLACING WINDOWS, CLEANING FLOORS, AND PAINTING THE UNIT. HOMEBUYERS WILL BE IDENTIFIED THROUGH HABITAT CHARLOTTE REGION AND WILL HAVE AN AMI OF 30-80%. SALES PRICES WILL BE SET BY THE MARKET AND HABITAT CHARLOTTE REGION WILL SECURE AN AFFORDABLE MORTGAGE FOR THE HOMEBUYER TO ENSURE THAT HOUSING COSTS WILL NOT EXCEED 30% OF THE HOMEBUYER'S HOUSEHOLD INCOME. MORTGAGES ARE NOT EXPECTED TO EXCEED 360 MONTHS. MORTGAGE HOLDERS WILL RECEIVE ONGOING COMMUNICATIONS FROM HABITAT CHARLOTTE REGION, INVITATIONS TO WORKSHOPS, COMMUNITY MEETINGS, ETC. TO POSITION THEM TO THRIVE AS HOMEOWNERS.
Expenses $303,873 · Revenue $232,745
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Laura BelcherLAURA BELCHER
CHAIR
- Total calculated
- $281,029
- From this org
- $0
- From related orgs
- $267,303
- Other
- $13,726
- Hours/week
- 2 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $267,303 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $13,726 related
- Filer's total
- not reported + $281,029 related
-
Bob GlusenkampBOB GLUSENKAMP
MEMBER
- Total calculated
- $179,471
- From this org
- $0
- From related orgs
- $162,689
- Other
- $16,782
- Hours/week
- 2 + 40 related
Schedule J breakdown matched by us
- Base
- not reported + $162,689 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $16,782 related
- Filer's total
- not reported + $179,471 related
-
Hannah BeaversHANNAH BEAVERS
SECRETARY
- Total calculated
- $146,856
- From this org
- $0
- From related orgs
- $146,856
- Other
- $0
- Hours/week
- 2 + 40 related
-
Mark TalbotMARK TALBOT
TREASURER
- Total calculated
- $90,164
- From this org
- $0
- From related orgs
- $90,164
- Other
- $0
- Hours/week
- 2 + 40 related
-
Adrian BoddieADRIAN BODDIE
MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Mark LinszMARK LINSZ
MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Lauri MumfordLAURI MUMFORD
MEMBER
- Total calculated
- $0
- Hours/week
- 1 + 2 related
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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
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.
-
FREEDOM COMMUNITIES
501C3 · NC
-
HABITAT FOR HUMANITY OF CHARLOTTE
501C3 · NC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 4 November 2025
- IRS schema version
- 2024v5.0
- Source object
- 202543219349306509
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