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Nonprofiteer
← WNC KING-NANTAHALA INC

Form 990 for tax year 2023

Filed by WNC KING-NANTAHALA INC.

Totals

Total revenue
$276,436
Total expenses
$197,602
Contributions and grants received
$129,927
Grants paid
$0
Program service revenue
$90,303
Investment income
$38
Other revenue
$56,168
Total assets, end of year
$311,507
Total liabilities, end of year
$612,261
Net assets or fund balances, end of year
-$300,754
Program services expenses (Part IX)
$191,194
Management and general expenses
$6,408
Fundraising expenses
$0
Program service expenses (Part III)
$191,194

Program services were 96.8% 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)

    $129,927

  • 2a · Program service revenue: TENANT RENTAL PAYMENTS

    total $88,703 · related or exempt $88,703

  • 2b · Program service revenue: LAUNDRY AND VENDING

    total $1,390 · related or exempt $1,390

  • 2c · Program service revenue: TENANT CHARGES

    total $210 · related or exempt $210

  • 3 · Investment income

    total $38 · excluded $38

  • 11a · Other revenue: FORGIVENESS OF DEBT

    total $56,168 · related or exempt $56,168

  • 11e · Other revenue, total

    $56,168

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $13,476 · program services $13,476

  • 11b · Fees: legal

    total $557 · program services $557

  • 11c · Fees: accounting

    total $5,330 · management and general $5,330

  • 13 · Office expenses

    total $2,654 · program services $2,654

  • 16 · Occupancy

    total $41,769 · program services $41,769

  • 19 · Conferences, conventions and meetings

    total $88 · program services $88

  • 20 · Interest

    total $21,100 · program services $21,100

  • 22 · Depreciation, depletion and amortization

    total $35,745 · program services $35,745

  • 23 · Insurance

    total $8,638 · program services $8,638

  • 24a · Other expenses: CONTRACTS

    total $25,984 · program services $25,984

  • 24b · Other expenses: MANAGER PAYROLL REIMBUR

    total $8,126 · program services $8,126

  • 24c · Other expenses: GARBAGE AND TRASH REMOV

    total $5,819 · program services $5,819

  • 24d · Other expenses: PAYROLL REIMBURSEMENT

    total $5,257 · program services $5,257

  • 24e · All other expenses

    total $23,059 · program services $21,981 · management and general $1,078

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,260 · end of year $17,771

  • 4 · Accounts receivable

    beginning of year $1,574 · end of year $8,869

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,866 · end of year $2,841

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

    $1,122,959

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

    $981,918

  • 10c · Land, buildings and equipment, net

    beginning of year $174,268 · end of year $141,041

  • 14 · Intangible assets

    beginning of year $37,958 · end of year $35,440

  • 15 · Other assets

    beginning of year $66,445 · end of year $105,545

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,659 · end of year $20,308

  • 19 · Deferred revenue

    beginning of year $460 · end of year $386

  • 23 · Secured mortgages and notes payable

    beginning of year $605,857 · end of year $584,547

  • 25 · Other liabilities

    beginning of year $62,983 · end of year $7,020

  • 27 · Net assets without donor restrictions

    beginning of year -$379,588 · end of year -$300,754

Mission and programs · 2023

Mission

THE PROJECT IS A 19-UNIT APARTMENT COMPLEX THAT PROVIDES HOUSING TO VERY LOW INCOME, MENTALLY HANDICAPPED INDIVIDUALS LOCATED IN ASHEVILLE, NC.

Activities or mission (Part I)

PROVIDE NINETEEN APARTMENTS FOR DISABLED PERSONS

  • OPERATING A 19-UNIT APARTMENT COMPLEX FOR DISABLED PERSONS

    Expenses $191,194 · Revenue $146,471

As filed on the 2023 return.

Listed in Part VII

  • Charles D Owen III

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0 + 0.5 related

  • Lynn Cook

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0 + 0.5 related

  • Theresa Piwowar

    TREASURER

    Total calculated
    $0
    Hours/week
    0 + 0.5 related

  • Greta Byrd

    MEMBER

    Total calculated
    $0
    Hours/week
    0 + 0.5 related

  • Geoffrey Barton

    MEMBER

    Total calculated
    $127,323
    From this org
    $0
    From related orgs
    $127,323
    Other
    $0
    Hours/week
    0 + 40 related

  • Jack Gilbert

    MEMBER

    Total calculated
    $0
    Hours/week
    0 + 0.5 related

  • Annette McClure

    MEMBER

    Total calculated
    $0
    Hours/week
    0 + 0.5 related

  • Ruth Morrissey

    MEMBER

    Total calculated
    $0
    Hours/week
    0 + 0.5 related

  • Constance Proctor

    MEMBER

    Total calculated
    $0
    Hours/week
    0 + 0.5 related

  • Ryan Rohwer

    MEMBER

    Total calculated
    $0
    Hours/week
    0 + 0.5 related

  • Elizabeth Teague

    MEMBER

    Total calculated
    $0
    Hours/week
    0 + 0.5 related

  • Dana Ward

    MEMBER

    Total calculated
    $0
    Hours/week
    0 + 0.5 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.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
11 February 2025
IRS schema version
2023v6.0
Source object
202520449349300302

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