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Nonprofiteer
← SELF-HELP COMMUNITY DEVELOPMENT CORP

Form 990 for tax year 2024

Filed by SELF-HELP COMMUNITY DEVELOPMENT CORP.

Totals

Total revenue
$5,994,517
Total expenses
$6,752,117
Contributions and grants received
$205,000
Grants paid
$50,000
Program service revenue
$5,226,794
Investment income
$544,277
Other revenue
$18,446
Total assets, end of year
$106,136,720
Total liabilities, end of year
$103,220,926
Net assets or fund balances, end of year
$2,915,794
Program services expenses (Part IX)
$6,731,719
Management and general expenses
$20,398
Fundraising expenses
$0
Program service expenses (Part III)
$6,731,719

Program services were 99.7% 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.

  • 1d · Related organizations

    $205,000

  • 2a · Program service revenue: Sale of Homes Proceeds

    total $215,348 · related or exempt $215,348

  • 2b · Program service revenue: Rental Income

    total $5,011,446 · related or exempt $5,011,446

  • 3 · Investment income

    total $544,277 · excluded $544,277

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Sales Tax Refunds

    total $5,764 · related or exempt $5,764

  • 11b · Other revenue: Other Income

    total $12,682 · related or exempt $12,682

  • 11e · Other revenue, total

    $18,446

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $50,000 · program services $50,000

  • 11c · Fees: accounting

    total $20,398 · management and general $20,398

  • 11g · Fees: other

    total $30,758 · program services $30,758

  • 16 · Occupancy

    total $2,212,677 · program services $2,212,677

  • 20 · Interest

    total $2,479,809 · program services $2,479,809

  • 22 · Depreciation, depletion and amortization

    total $1,586,375 · program services $1,586,375

  • 23 · Insurance

    total $42,825 · program services $42,825

  • 24a · Other expenses: Cost of Construction

    total $279,536 · program services $279,536

  • 24b · Other expenses: General Expenses

    total -$134,011 · program services -$134,011

  • 24c · Other expenses: Community Development Serv

    total $183,750 · program services $183,750

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,073,883 · end of year $5,674,698

  • 2 · Savings and temporary cash investments

    beginning of year $396,594 · end of year $693,290

  • 4 · Accounts receivable

    beginning of year $404,917 · end of year $488,093

  • 7 · Other notes and loans receivable

    beginning of year $15,493,388 · end of year $15,141,034

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

    $87,282,141

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

    $3,152,377

  • 10c · Land, buildings and equipment, net

    beginning of year $45,893,821 · end of year $84,129,764

  • 15 · Other assets

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

  • 17 · Accounts payable and accrued expenses

    beginning of year $361,351 · end of year $598,250

  • 24 · Unsecured notes and loans payable

    beginning of year $62,237,699 · end of year $102,558,187

  • 25 · Other liabilities

    end of year $64,489

  • 27 · Net assets without donor restrictions

    beginning of year $3,673,394 · end of year $2,915,794

Mission and programs · 2024

Mission

Self-Help Community Develop. Corp.s mission is to create and preserve affordable housing for low-income persons and distressed communities. The primary activities are 1. Preservation of affordable rental housing 2. Renovation of existing homes 3. Construction of new homes.

  • In 2024, Self-Help Community Development Corporation operated affordable housing programs in four locations within North Carolina: Charlotte, Chapel Hill, Rocky Mount, and Durham.SHCDC undertook several affordable housing activities accross these geographies. 1) SHCDC owned and operated affordable housing rental housing in Charlottes Grier Heights neighborhood, leasing 34 garden apartments to low-income tenants at the Grierton Square project. 2) In Chapel Hill, SHCDC managed the rehabilitation of properties held in a community land bank in the Northside neighborhood. SHCDC sold the property with approvals for development of two units to Empowerments, Inc., a partner organization that will operate the units as affordable rental housing for low-income households. The land bank also held 6 properties in various stages of the development process. **continued on 4b below**

    Expenses $6,731,719 · Grants $205,000 · Revenue $5,226,794

  • 3) In Rocky Mount, SHCDC continued its work on a portfolio of residential properties, completing construction of 3 new homes for affordable homeownership, all of which will be or have been sold to low-income households. As of the end of 2024, SHCDC leased 39 units in 22 properties to low-income households. Two-thirds of these units are rented at rates affordable to households earning 60% of AMI and the remainder to households earning 80% of AMI. 4) In 2024, SHCDC acquired 224 affordable apartments approximately in Durham, where affordable housing is increasingly scarce. Including this last project SHCDC now owns and will retain long-term 454 affordable rental housing units in Durham, providing high-quality, affordable housing to very low-to low-income families.

As filed on the 2024 return.

Listed in Part VII

  • Randy Chambers

    Treasurer

    Total calculated
    $142,886
    From this org
    $0
    From related orgs
    $101,573
    Other
    $41,313
    Hours/week
    1 + 40 related

  • Al Bonner

    DirectorStaff

    Total calculated
    $136,849
    From this org
    $0
    From related orgs
    $104,214
    Other
    $32,635
    Hours/week
    1 + 40 related

  • Martin Eakes

    Director CEO

    Total calculated
    $136,788
    From this org
    $0
    From related orgs
    $100,961
    Other
    $35,827
    Hours/week
    1 + 40 related

  • Tucker Bartlett

    DirectorPresident

    Total calculated
    $132,279
    From this org
    $0
    From related orgs
    $106,622
    Other
    $25,657
    Hours/week
    1 + 40 related

  • Stephanie Barnes-Simms

    DirectorStaff

    Total calculated
    $132,067
    From this org
    $0
    From related orgs
    $109,776
    Other
    $22,291
    Hours/week
    1 + 40 related

  • Emily Yeatts

    SecretaryStaff

    Total calculated
    $118,088
    From this org
    $0
    From related orgs
    $112,605
    Other
    $5,483
    Hours/week
    1 + 40 related

  • Crystal German

    DirectorStaff

    Total calculated
    $111,261
    From this org
    $0
    From related orgs
    $72,234
    Other
    $39,027
    Hours/week
    1 + 32 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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • Rocky Mount Housing&Revitalization

    Affordable Housing · NC · income $64,466 · assets $4,317,208

    Directly controlled by Self-Help Community Devlopment Corp

  • SHCDC Shannon Rd LLC

    Affordable Housing · NC · income -$637,915 · assets $41,862,532

    Directly controlled by Self-Help Community Devlopment Corp

  • Sharp Discovery Way LLC

    Affordable Housing · NC · income -$315,811 · assets $40,658,947

    Directly controlled by Self-Help Community Devlopment Corp

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.2
Source object
202533149349304573

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