Form 990 for tax year 2023
Filed by MACGREGOR HOUSING DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $213,197
- Total expenses
- $205,460
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $205,999
- Investment income
- $7,198
- Other revenue
- $0
- Total assets, end of year
- $1,280,421
- Total liabilities, end of year
- $2,081,407
- Net assets or fund balances, end of year
- -$800,986
- Program services expenses (Part IX)
- $167,254
- Management and general expenses
- $38,206
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $167,254
Program services were 81.4% 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: Rental Income
total $203,875 · related or exempt $203,875
-
2b · Program service revenue: Other Income
total $2,124 · related or exempt $2,124
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $7,198 · excluded $7,198
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $26,969 · program services $26,969
-
9 · Other employee benefits
total $6,613 · program services $6,613
-
10 · Payroll taxes
total $3,398 · program services $3,398
-
11a · Fees: management
total $30,700 · management and general $30,700
-
11b · Fees: legal
total $22 · program services $22
-
11c · Fees: accounting
total $7,506 · management and general $7,506
-
11g · Fees: other
total $0 · program services $0 · management and general $0 · fundraising $0
-
12 · Advertising and promotion
total $65 · program services $65
-
13 · Office expenses
total $6,031 · program services $6,031
-
16 · Occupancy
total $53,288 · program services $53,288
-
20 · Interest
total $353 · program services $353
-
22 · Depreciation, depletion and amortization
total $50,630 · program services $50,630
-
24a · Other expenses: Other Taxes and Insurance
total $11,982 · program services $11,982
-
24b · Other expenses: Miscellaneous
total $6,533 · program services $6,533
-
24c · Other expenses: Administrative Expenses
total $1,370 · program services $1,370
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $156,554 · end of year $101,578
-
2 · Savings and temporary cash investments
beginning of year $106,612 · end of year $127,135
-
4 · Accounts receivable
beginning of year $713 · end of year $686
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $1,959 · end of year $2,864
-
10a · Land, buildings and equipment: cost or other basis
$2,254,829
-
10b · Land, buildings and equipment: accumulated depreciation
$1,206,671
-
10c · Land, buildings and equipment, net
beginning of year $1,098,788 · end of year $1,048,158
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $91,025 · end of year $9,774
-
22 · Loans and payables to officers and key people
end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $2,066,959 · end of year $2,057,212
-
25 · Other liabilities
beginning of year $15,365 · end of year $14,421
-
27 · Net assets without donor restrictions
beginning of year -$808,723 · end of year -$800,986
Mission and programs · 2023
Mission
THE ORGANIZATION PROVIDES APARTMENTS TO LOW-INCOME HOUSEHOLDS IN PITT COUNTY WITH PREFERENCE TO VICTIMS OF HURRICANE FLOYD.
Activities or mission (Part I)
TO DEVELOP, CONSTRUCT, OWN, AND OPERATE A LOW INCOME HOUSING COMPLEX IN PITT COUNTY, NC.
-
THE ORGANIZATION PROVIDES APARTMENTS TO LOW-INCOME HOUSEHOLDS IN PITT COUNTY WITH PREFERENCE TO VICTIMS OF HURRICANE FLOYD.
Expenses $167,254 · Revenue $205,999
As filed on the 2023 return.
Listed in Part VII
-
Betsy Rozakis
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Chico Scott
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Gordon Grubb
Director
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Jordan Maness
Vice Chair
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Tyler Craft
Chair
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Natalie Britt
SVP
- Total calculated
- $213,169
- From this org
- $0
- From related orgs
- $176,670
- Other
- $36,499
- Hours/week
- 0.5 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $163,670 related
- Bonus
- $0 + $13,000 related
- Other
- $0
- Deferred
- $0 + $26,653 related
- Nontaxable benefits
- $0 + $9,846 related
- Filer's total
- $0 + $213,169 related
-
Sharon Lorden
SVP/CFO
- Total calculated
- $230,913
- From this org
- $0
- From related orgs
- $189,905
- Other
- $41,008
- Hours/week
- 0.5 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $176,905 related
- Bonus
- $0 + $13,000 related
- Other
- $0
- Deferred
- $0 + $28,744 related
- Nontaxable benefits
- $0 + $12,264 related
- Filer's total
- $0 + $230,913 related
-
William Ward
VP/Treasurer
- Total calculated
- $166,198
- From this org
- $0
- From related orgs
- $137,564
- Other
- $28,634
- Hours/week
- 0.5 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $124,564 related
- Bonus
- $0 + $13,000 related
- Other
- $0
- Deferred
- $0 + $20,997 related
- Nontaxable benefits
- $0 + $7,637 related
- Filer's total
- $0 + $166,198 related
-
Yolanda Winstead
President
- Total calculated
- $295,438
- From this org
- $0
- From related orgs
- $244,426
- Other
- $51,012
- Hours/week
- 0.5 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $231,426 related
- Bonus
- $0 + $13,000 related
- Other
- $0
- Deferred
- $0 + $37,363 related
- Nontaxable benefits
- $0 + $13,649 related
- Filer's total
- $0 + $295,438 related
-
Atinuke Diver
VP of Resource Development
- Total calculated
- $153,947
- From this org
- $0
- From related orgs
- $133,350
- Other
- $20,597
- Hours/week
- 0.5 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $123,600 related
- Bonus
- $0 + $9,750 related
- Other
- $0
- Deferred
- $0 + $11,124 related
- Nontaxable benefits
- $0 + $9,473 related
- Filer's total
- $0 + $153,947 related
-
Joseph Omozokpea
Senior Project Manager
- Total calculated
- $131,232
- From this org
- $0
- From related orgs
- $106,473
- Other
- $24,759
- Hours/week
- 0.5 + 40 related
-
Kayla Rosenburg
Senior Project Manager
- Total calculated
- $143,865
- From this org
- $0
- From related orgs
- $118,974
- Other
- $24,891
- Hours/week
- 0.5 + 40 related
-
Sheila Porter
Assistant Secretary
- Total calculated
- $164,470
- From this org
- $0
- From related orgs
- $131,368
- Other
- $33,102
- Hours/week
- 0.5 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $118,368 related
- Bonus
- $0 + $13,000 related
- Other
- $0
- Deferred
- $0 + $19,491 related
- Nontaxable benefits
- $0 + $13,611 related
- Filer's total
- $0 + $164,470 related
-
Skip Jackson
Director
- Total calculated
- $129,567
- From this org
- $0
- From related orgs
- $102,833
- Other
- $26,734
- Hours/week
- 0.5 + 40 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
The filer's explanations (Part III)
- Schedule J, Part I, Line 1b
- NONE OF THE BENEFITS WERE PROVIDED.
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.
-
501(c)(3) · Construction and management of low-income housing · NC
Directly controlled by NA
-
501(c)(3) · TO PROVIDE LOW INCOME HOUSING · NC
Directly controlled by DHIC INC
-
501(c)(3) · TO OWN AND OPERATE A 32-UNIT APARTMENT PROJECT FOR low-income SENIOR ADULTS · NC
Directly controlled by DHIC INC
-
COMMUNITY REVITALIZATION AND PRESERVATION CORP
501(c)(3) · HOUSING LOANS TO LOW TO MODERATE INCOME INDIVIDUALS · NC
Directly controlled by DHIC INC
-
ROANOKE HOUSING DEVELOPMENT CORP
501(c)(3) · HOUSING FOR ELDERLY AND HANDICAPPED · NC
Directly controlled by DHIC INC
-
501(c)(3) · HOUSING FOR LOW INCOME PERSONS · NC
Directly controlled by DHIC INC
-
Washington Terrace Redevelopment Inc
501(c)(3) · HOUSING FOR LOW INCOME PERSONS · NC
Directly controlled by DHIC INC
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 corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Beacon Ridge Development Inc
C Corporation · REAL ESTATE RENTAL · NC
-
BOOKER PARK NORTH HOUSING INC
C Corporation · REAL ESTATE RENTAL · NC
-
Booker Park South Housing Inc
C Corporation · REAL ESTATE RENTAL · NC
-
Broadstone Walk Development Inc
C Corporation · REAL ESTATE RENTAL · NC
-
BROOKRIDGE AFFORDABLE HOUSING INC
C Corporation · REAL ESTATE RENTAL · NC
-
Camden Glen Affordable Housing Inc
C Corporation · REAL ESTATE RENTAL · NC
-
CARDINAL CHASE INC
C Corporation · REAL ESTATE RENTAL · NC
-
CARLTON PLACE INC
C Corporation · REAL ESTATE RENTAL · NC
-
COMMON OAKS AFFORDABLE HOUSING INC
C Corporation · REAL ESTATE RENTAL · NC
-
CRESTON COMMONS DEVELOPMENT CORPORATION
C Corporation · REAL ESTATE RENTAL · NC
-
DACIAN GLEN REDEVELOPMENT INC
C Corporation · REAL ESTATE RENTAL · NC
-
Davis Drive Development Inc
C Corporation · REAL ESTATE RENTAL · NC
-
GREENFIELD COMMONS DEVELOPMENT INC
C Corporation · REAL ESTATE RENTAL · NC
-
Greenfield Place Development Inc
C Corporation · rEAL ESTATE RENTAL · NC
-
HIGHLAND VILLAGE DEVELOPMENT INC
C Corporation · REAL ESTATE RENTAL · NC
-
MAPLEWOOD SENIOR HOUSING INC
C Corporation · REAL ESTATE RENTAL · NC
-
MEADOWCREEK SENIORS INC
C Corporation · REAL ESTATE RENTAL · NC
-
Milner Senior Housing Inc
C Corporation · REAL ESTATE RENTAL · NC
-
Pennington Grove Senior Housing II Inc
C Corporation · REAL ESTATE RENTAL · NC
-
Pennington Grove Senior Housing Inc
C Corporation · REAL ESTATE RENTAL · NC
-
Primavera Seniors Housing Inc
C Corporation · REAL ESTATE RENTAL · NC
-
ROG REDEVELOPMENT INC
C Corporation · REAL ESTATE RENTAL · NC
-
SIX FORKS SENIORS INC
C Corporation · REAL ESTATE RENTAL · NC
-
Sportsmanship Housing Inc
C Corporation · REAL ESTATE RENTAL · NC
-
WAKEFIELD SENIOR HOUSING INC
C Corporation · REAL ESTATE RENTAL · NC
-
WATER GARDEN AFFORDABLE HOUSING INC
C Corporation · REAL ESTATE RENTAL · NC
-
WATER GARDEN SENIOR HOUSING INC
C Corporation · REAL ESTATE RENTAL · NC
-
Weston Trace Affordable Housing Inc
C Corporation · REAL ESTATE RENTAL · NC
-
Willard Street Manager LLC
C Corporation · REAL ESTATE RENTAL · NC
-
Hardee Street Managing Member LLC
C Corporation · REAL ESTATE RENTAL · NC
-
Ashton Place Managing Member LLC
C Corporation · REAL ESTATE RENTAL · NC
-
DHIC PRESERVATION I MANAGING MEMBER LLC
C Corporation · REAL ESTATE RENTAL · NC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 16 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433209349329068
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