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← CENTRE FOR HOME OWNERSHIP & ECONOMIC DEVELOPMENT CORPORATION I

Form 990 for tax year 2024

Filed by CENTRE FOR HOME OWNERSHIP & ECONOMIC DEVELOPMENT CORPORATION I.

Totals

Total revenue
$1,735,638
Total expenses
$1,926,181
Contributions and grants received
$1,722,500
Grants paid
$289,088
Program service revenue
$12,975
Investment income
$163
Other revenue
$0
Total assets, end of year
$896,680
Total liabilities, end of year
$402,789
Net assets or fund balances, end of year
$493,891
Program services expenses (Part IX)
$1,789,345
Management and general expenses
$108,427
Fundraising expenses
$28,409
Program service expenses (Part III)
$1,789,345

Program services were 92.9% 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.

  • 1e · Government grants (contributions)

    $1,027,953

  • 1f · All other contributions, gifts and grants

    $694,547

  • 2a · Program service revenue: RENTAL INCOME

    total $12,975 · related or exempt $12,975

  • 3 · Investment income

    total $163 · excluded $163

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $289,088 · program services $289,088

  • 5 · Compensation of officers, directors and key employees

    total $141,400 · program services $106,050 · management and general $21,210 · fundraising $14,140

  • 7 · Other salaries and wages

    total $44,141 · program services $33,106 · management and general $6,621 · fundraising $4,414

  • 10 · Payroll taxes

    total $15,342 · program services $11,507 · management and general $2,301 · fundraising $1,534

  • 11c · Fees: accounting

    total $18,167 · management and general $18,167

  • 11g · Fees: other

    total $1,187,484 · program services $1,165,772 · management and general $21,712

  • 12 · Advertising and promotion

    total $2,399 · program services $2,039 · management and general $360

  • 13 · Office expenses

    total $42,739 · program services $34,191 · management and general $6,411 · fundraising $2,137

  • 16 · Occupancy

    total $112,181 · program services $95,633 · management and general $12,411 · fundraising $4,137

  • 17 · Travel

    total $5,011 · program services $4,008 · management and general $752 · fundraising $251

  • 20 · Interest

    total $10,645 · management and general $10,645

  • 22 · Depreciation, depletion and amortization

    total $6,525 · program services $5,220 · management and general $979 · fundraising $326

  • 23 · Insurance

    total $14,738 · program services $11,790 · management and general $2,211 · fundraising $737

  • 24a · Other expenses: MISCELLANEOUS

    total $19,387 · program services $16,457 · management and general $2,197 · fundraising $733

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $15,170 · program services $13,653 · management and general $1,517

  • 24c · Other expenses: FEES AND DUES

    total $933 · management and general $933

  • 24d · Other expenses: TRAINING

    total $831 · program services $831

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $634,076 · end of year $572,979

  • 2 · Savings and temporary cash investments

    beginning of year $14,005 · end of year $14,333

  • 3 · Pledges and grants receivable

    beginning of year $86,561 · end of year $102,570

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

    $282,750

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

    $106,165

  • 10c · Land, buildings and equipment, net

    beginning of year $173,141 · end of year $176,585

  • 15 · Other assets

    beginning of year $29,026 · end of year $30,213

  • 17 · Accounts payable and accrued expenses

    beginning of year $44,728 · end of year $48,849

  • 23 · Secured mortgages and notes payable

    beginning of year $137,178 · end of year $128,151

  • 24 · Unsecured notes and loans payable

    beginning of year $141,266 · end of year $139,911

  • 25 · Other liabilities

    beginning of year $29,203 · end of year $85,878

  • 27 · Net assets without donor restrictions

    beginning of year $389,574 · end of year $305,283

  • 28 · Net assets with donor restrictions

    beginning of year $194,860 · end of year $188,608

Mission and programs · 2024

Mission

TO ENRICH AND EDUCATE LIVES BY PROVIDING HOUSING COUNSELING SERVICES, FINANCIAL LITERACY, HOME OWNERSHIP OPPORTUNITIES, JOB SERVICES, BUSINESS SOLUTIONS AND ECONOMIC DEVELOPMENT.

Activities or mission (Part I)

TO ENRICH AND EDUCATE LIVES BY PROVIDING HOUSING COUNSELING SERVICES, FINANCIAL LITERACY, HOMEOWNERSHIP OPPORTUNITIES, JOB SERVICES, BUSINESS SOLUTIONS, AND ECONOMIC DEVELOPMENT.

  • WE PROVIDE SERVICES THAT SUPPORT INNOVATIVE APPROACHES IN BOTH URBAN AND RURAL COMMUNITIES THAT FOCUS ON HEALTH AND WELLNESS, ECONOMIC STABILITY, AFFORDABLE HOUSING, FINANCIAL INDEPENDENCE, JOBS, BUSINESS DEVELOPMENT, AND SMALL BUSINESS TRAINING. ADDITIONALLY, CHOEDC PROVIDES NON-MEDICAL HOUSING SERVICES UNDER THE HEALTHY OPPORTUNITY PILOT PROGRAM AND PROVIDES MENTAL HEALTH CARE, SUBSTANCE ABUSE COUNSELING, AND PEER SUPPORT COUNSELING IN FIVE (5) CATCHMENT AREAS THROUGHOUT NORTH CAROLINA.

    Expenses $1,789,345 · Grants $289,088 · Revenue $12,975

As filed on the 2024 return.

Listed in Part VII

  • Steve Drake

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Sharon Moe

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Jason Harris

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Vickie Feaster-Fornville

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Doug Mollett

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vicki Pinson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julie Russ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Melvin Watson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alfredo Macias

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dylan Macias

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Darius Hunt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daron Satterfield Esquire

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Stroud

    EXECUTIVE DIRECTOR

    Total calculated
    $141,400
    From this org
    $141,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202503189349311990

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