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← SELF HELP VENTURES FUND

Form 990 for tax year 2022

Filed by SELF HELP VENTURES FUND.

Totals

Total revenue
$95,498,767
Total expenses
$43,396,272
Contributions and grants received
$36,923,780
Grants paid
$0
Program service revenue
$56,038,772
Investment income
$1,929,492
Other revenue
$606,723
Total assets, end of year
$1,009,821,673
Total liabilities, end of year
$378,950,011
Net assets or fund balances, end of year
$630,871,662
Program services expenses (Part IX)
$30,350,801
Management and general expenses
$13,045,471
Fundraising expenses
$0
Program service expenses (Part III)
$30,350,801

Program services were 69.9% 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

    $5,237,521

  • 1e · Government grants (contributions)

    $300,000

  • 1f · All other contributions, gifts and grants

    $31,386,259

  • 1g · Noncash contributions included above

    $31,824,408

  • 2a · Program service revenue: Interest on PRIs

    total $20,482,952 · related or exempt $20,482,952

  • 2b · Program service revenue: Interest on MBS

    total $6,210,371 · related or exempt $6,210,371

  • 2c · Program service revenue: Loan origination & fees

    total $11,242,667 · related or exempt $11,242,667

  • 2d · Program service revenue: Rental income

    total $18,102,782 · related or exempt $18,102,782

  • 3 · Investment income

    total $2,136,343 · excluded $2,136,343

  • 6a · Gross rents

    real property $2,295,241

  • 6b · Less rental expenses

    real property $1,688,518

  • 6c · Rental income or loss

    real property $606,723

  • 6d · Net rental income or loss

    total $606,723 · related or exempt $606,723

  • 7a · Gross sales of assets other than inventory

    other assets $825,301

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

    other assets $1,032,152

  • 7c · Gain or loss

    other assets -$206,851

  • 7d · Net gain or loss

    total -$206,851 · related or exempt -$206,851

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $25,094 · management and general $25,094

  • 11c · Fees: accounting

    total $94,060 · management and general $94,060

  • 12 · Advertising and promotion

    total $444,542 · program services $5,767 · management and general $438,775

  • 13 · Office expenses

    total $278,574 · program services $13,464 · management and general $265,110

  • 14 · Information technology

    total $1,575,333 · program services $119,867 · management and general $1,455,466

  • 16 · Occupancy

    total $829,506 · program services $662,314 · management and general $167,192

  • 17 · Travel

    total $122,699 · program services -$136,641 · management and general $259,340

  • 19 · Conferences, conventions and meetings

    total $113,339 · program services $16,792 · management and general $96,547

  • 20 · Interest

    total $13,301,896 · program services $13,301,896

  • 22 · Depreciation, depletion and amortization

    total $7,461,884 · program services $7,461,884

  • 23 · Insurance

    total $55,178 · program services $55,178

  • 24a · Other expenses: Provision for credit losses

    total -$9,689,685 · program services -$9,689,685

  • 24b · Other expenses: Staffing Reimbursement

    total $15,330,382 · program services $6,785,901 · management and general $8,544,481

  • 24c · Other expenses: Real Estate operating expens

    total $7,796,788 · program services $7,796,788

  • 24d · Other expenses: Loan administration

    total $2,273,831 · program services $2,168,945 · management and general $104,886

  • 24e · All other expenses

    total $3,382,851 · program services $1,788,331 · management and general $1,594,520

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,246,852

  • 2 · Savings and temporary cash investments

    beginning of year $177,086,804 · end of year $160,562,050

  • 4 · Accounts receivable

    beginning of year $29,441,459 · end of year $39,403,347

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

    $277,627,222

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

    $65,699,708

  • 10c · Land, buildings and equipment, net

    beginning of year $193,476,559 · end of year $211,927,514

  • 11 · Investments: publicly traded securities

    beginning of year $216,173,246 · end of year $157,783,421

  • 13 · Investments: program-related

    beginning of year $430,047,911 · end of year $419,108,345

  • 15 · Other assets

    beginning of year $11,588,496 · end of year $21,036,996

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,030,488 · end of year $9,880,324

  • 23 · Secured mortgages and notes payable

    beginning of year $221,662,475 · end of year $175,466,785

  • 24 · Unsecured notes and loans payable

    beginning of year $209,913,141 · end of year $179,734,307

  • 25 · Other liabilities

    beginning of year $20,494,164 · end of year $13,868,595

  • 27 · Net assets without donor restrictions

    beginning of year $583,854,683 · end of year $584,541,431

  • 28 · Net assets with donor restrictions

    beginning of year $17,106,376 · end of year $46,330,231

Mission and programs · 2022

Mission

Self-Help Ventures Funds mission is to create and protect ownership and economic opportunity for all, especially people of color, women, rural residents and low-wealth families and communities.

  • Economic development through the renovation of historic buildings, construction of new buildings in distressed communities. Providing quality, affordable retail, community facilities and commercial rental space to revitalize and stabilize distressed communities.Economic development through provision of rental property in distressed and blighted areas,Total beneficiaries = approximately 4,662

    Expenses $23,293,289 · Revenue $18,102,782

  • Charitable loans and investments to community development projects employing low-income, minority and unemployed persons; to projects in low-income,minority, rural and distressed communities; and to charitable organizations.Total beneficiaries = approximately 4,995

    Expenses $13,327,845 · Revenue $15,537,856

  • Facilitation of a secondary market at reasonable rates on a substainable basis for home mortgages made to low-income and minority buyers who live in distressed communities to make homeownership more widely available to these families.Total beneficiaries = approximately 20,757

    Expenses -$6,270,333 · Revenue $22,398,134

As filed on the 2022 return.

Listed in Part VII

  • Randy Chambers

    TreasurerSecretary

    Total calculated
    $132,496
    From this org
    $0
    From related orgs
    $90,352
    Other
    $42,144
    Hours/week
    0 + 40 related

  • Martin Eakes

    CEODirector

    Total calculated
    $124,910
    From this org
    $0
    From related orgs
    $90,354
    Other
    $34,556
    Hours/week
    0 + 40 related

  • Laura Benedict

    President

    Total calculated
    $112,201
    From this org
    $0
    From related orgs
    $89,146
    Other
    $23,055
    Hours/week
    0 + 40 related

  • Mark Korell

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Tara Kenchen

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Ronn Stewart

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Jean Pudlo

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Lynne Walker

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • James H Sills III

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Catherine Clark

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Schall

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Matthew Hobbs

    DirectorChair

    Total calculated
    $0
    Hours/week
    0.5

  • Marla Bilonick

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Elbert Avery

    Director

    Total calculated
    $0
    Hours/week
    0.5

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.

  • Barr Building LLC

    commercial building · DC · income $2,298,365 · assets $24,839,793

  • Rocky Mount Post Office LLC

    historic building · NC · income $108 · assets $236,718

  • Self-Help Manager LLC

    charitable lending · NC · income $281,307 · assets $8,220,954

  • SHVF Development LLC

    historic building · NC · income $536,537 · assets $2,673,981

  • SHVF Properties LLC

    historic building · NC · income $1,743,248 · assets $26,207,721

  • Proctor Hotel LLC

    historic building · NC · income $199,307 · assets $1,978,568

    Directly controlled by SHVF Properties LLC

  • Stella LLC

    historic building · NC · income $382,365 · assets $2,726,570

    Directly controlled by SHVF Properties LLC

  • 123 West Main Street LLC

    historic building · NC · income $688,630 · assets $2,994,699

    Directly controlled by SHVF Properties LLC

  • 302 West Main Street LLC

    historic building · NC · income $411,887 · assets $1,917,545

    Directly controlled by SHVF Properties LLC

  • Market Square Business Center LLC

    historic building · NC · income $159,906 · assets $2,292,302

    Directly controlled by SHVF Properties LLC

  • SHVF Revolution LLC

    historic building · NC · income $18 · assets $59,784

  • SHVF Olympic LLC

    historic building · NC · income $1,068 · assets $3,630,449

  • SHVF Mill House LLC

    historic building · NC · income $44,595 · assets $33,539,656

    Directly controlled by Self-Help Historic Properties

  • SHVF MCA Services LLC

    charitable lending · NC

  • 301 West Main Street LLC

    historic building · NC · income $734,595 · assets $2,918,286

    Directly controlled by SHVF Properties LLC

  • 115 Market Street LLC

    historic building · NC · income $894,846 · assets $3,224,381

    Directly controlled by SHVF Properties LLC

  • 34 Wall Street LLC

    historic building · NC · income $476,801 · assets $1,694,679

    Directly controlled by SHVF Properties LLC

  • 201 West Main Street LLC

    historic building · NC · income $1,170,814 · assets $4,139,341

    Directly controlled by SHVF Properties LLC

  • 122 N Elm Street LLC

    historic building · NC · income $835,083 · assets $2,107,924

    Directly controlled by SHVF Properties LLC

  • 307 West Main Street LLC

    historic building · NC · income $287,797 · assets $2,501,281

  • Chapel Hill Sreet Development LLC

    charitable development · NC · income $1,207,587 · assets $12,043,360

  • SHHP Holloway Manager LLC

    historic building · NC · income $455 · assets $9,755

  • SHHP Holloway Tenant LLC

    historic building · NC · income $603,995 · assets $8,339,925

    Directly controlled by Self-Help Ventures Fund

  • Efird LLC

    historic building · NC · income $405,111 · assets $3,817,608

  • Historic Peoples BuildingLLC

    historic building · NC · income $171,224 · assets $2,096,346

  • SHVF Ashton LLC

    historic building · NC · income $142,431 · assets $3,995,348

  • SHVF 1300 7th Street

    historic building · NC · income $15,992 · assets $7,623,514

  • Self-Help New Markets 15 LLC

    charitable loans · NC

    Directly controlled by Self-Help Manager LLC

  • Self-Help New Markets 16 LLC

    charitable loans · NC

    Directly controlled by Self-Help Manager LLC

  • Self-Help New Markets 17 LLC

    charitable loans · NC

    Directly controlled by Self-Help Manager LLC

Related partnerships

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

  • Maplewood Partners LLC

    Related · affordable housing · NC · 3.3% owned · general or managing partner

    Directly controlled by Self-Help Housing Inc

  • Self-Help New Markets XIII LLC

    Related · charitable loans · NC · 1% owned · share of income $7,494 · share of assets $198,387 · general or managing partner

    Directly controlled by Self-Help Manager LLC

  • Self-Help New Markets XIV LLC

    Related · charitable loans · NC · 1% owned · share of income $845,664 · share of assets $33,541 · general or managing partner

    Directly controlled by Self-Help Manager LLC

  • Historic Revolution Manager LLC

    Related · historic building · NC · 95% owned · share of income -$281,418 · share of assets $12,047,266 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • Historic Revolution Tenant LLC

    Related · historic building · NC · 1% owned · share of income $78,278 · share of assets $867,667 · general or managing partner

    Directly controlled by Historic Revolution Manager LLC

  • Historic Revolution LLC

    Related · historic building · NC · 39% owned · share of income $1,551,457 · share of assets $31,830,643 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHVF Renaissance LLC

    Related · historic building · NC · 95% owned · share of income $381,799 · share of assets $6,349,663 · general or managing partner

    Directly controlled by Self-Help Ventures Fund

  • SHHP Holloway LLC

    Related · historic building · NC · 95% owned · share of income $543,128 · share of assets $10,364,616 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHHP East Durham LLC

    Related · historic building · NC · 80% owned · share of income $218,538 · share of assets $7,877,418 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHHP East Durham Manager LLC

    Related · historic building · NC · 100% owned · share of income $461 · share of assets $67,741 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHHP East Durham Tenant LLC

    Related · historic building · NC · 1% owned · share of income $5,858 · share of assets $60,610 · general or managing partner

    Directly controlled by SHHP East Durham Manager LLC

  • SHHP Pearson LLC

    Related · historic building · NC · 85% owned · share of income $93,312 · share of assets $8,085,426 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHHP Pearson Manager LLC

    Related · historic building · NC · 100% owned · share of income -$1,563 · share of assets $32,114 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHHP Pearson Tenant LLC

    Related · historic building · NC · 1% owned · share of income $2,446 · share of assets $53,892 · general or managing partner

    Directly controlled by SHHP Pearson Manager LLC

  • SHVF Mill House Manager LLC

    Related · historic building · NC · 1% owned · share of income $1,749 · share of assets $135,687 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHVF Mill House Tenant LLC

    Related · historic building · NC · 1% owned · share of income $50 · share of assets $15,646 · general or managing partner

    Directly controlled by SHVF Mill House Manager LLC

  • SHVF Beacon Point LLC

    Related · affordable housing · NC · 95% owned · share of income $973 · share of assets $11,944,598 · general or managing partner

    Directly controlled by Self-Help Ventures Fund

  • Willard Street Developer LLC

    Related · affordable housing · NC · 10% owned

    Directly controlled by Self-Help Ventures Fund

  • Willard Street Manager LLC

    Related · affordable housing · NC · 10% owned

    Directly controlled by Self-Help Ventures Fund

  • Ashton Place Housing LLC

    Related · affordable housing · NC · 5% owned

    Directly controlled by Self-Help Ventures Fund

  • Ashton Place Managing Member LLC

    Related · affordable housing · NC · 50% owned

    Directly controlled by Self-Help Ventures Fund

  • Ashton Place Developer LLC

    Related · affordable housing · NC · 50% owned

    Directly controlled by SHVF Development LLC

  • Hardee Street Housing LLC

    Related · affordable housing · NC · 1% owned

    Directly controlled by Hardee Street Managing Member LLC

  • Hardee Street Developer LLC

    Related · affordable housing · NC · 50% owned

    Directly controlled by SHVF Development LLC

  • Hardee Street Managing Member LLC

    Related · NC · 50% owned

    Directly controlled by affordable housing

  • Willard Street LLC

    Related · affordable housing · NC · 1% owned

    Directly controlled by Willard Street Manager LLC

Related corporations and trusts

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

  • Self-Help Historic Properties Inc

    C Corp · historic renovation · NC · 100% owned · share of income -$1,560,392 · share of assets $13,792,922

  • Self-Help Housing Inc

    C Corp · affordable housing · NC · 100% owned · share of income -$1,650 · share of assets $204,092

Provenance

Return type
form_990
Tax year
2022
Filed
25 October 2023
IRS schema version
2022v5.0
Source object
202342989349301469

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