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← SELF HELP VENTURES FUND

Form 990 for tax year 2023

Filed by SELF HELP VENTURES FUND.

Totals

Total revenue
$67,731,085
Total expenses
$57,501,791
Contributions and grants received
$1,975,299
Grants paid
$0
Program service revenue
$58,452,626
Investment income
$6,677,188
Other revenue
$625,972
Total assets, end of year
$1,032,930,060
Total liabilities, end of year
$391,922,186
Net assets or fund balances, end of year
$641,007,874
Program services expenses (Part IX)
$43,195,267
Management and general expenses
$14,306,524
Fundraising expenses
$0
Program service expenses (Part III)
$43,195,267

Program services were 75.1% 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

    $256,500

  • 1e · Government grants (contributions)

    $300,000

  • 1f · All other contributions, gifts and grants

    $1,418,799

  • 1g · Noncash contributions included above

    $2,077,742

  • 2a · Program service revenue: Interest on PRIs

    total $28,559,532 · related or exempt $28,559,532

  • 2b · Program service revenue: Interest on MBS

    total $5,612,863 · related or exempt $5,612,863

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

    total $4,890,691 · related or exempt $4,890,691

  • 2d · Program service revenue: Rental income

    total $19,389,540 · related or exempt $19,389,540

  • 3 · Investment income

    total $6,790,401 · excluded $6,790,401

  • 6a · Gross rents

    real property $2,478,787

  • 6b · Less rental expenses

    real property $1,852,815

  • 6c · Rental income or loss

    real property $625,972

  • 6d · Net rental income or loss

    total $625,972 · related or exempt $625,972

  • 7a · Gross sales of assets other than inventory

    other assets $632,603

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

    other assets $745,816

  • 7c · Gain or loss

    other assets -$113,213

  • 7d · Net gain or loss

    total -$113,213 · related or exempt -$113,213

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $17,456 · management and general $17,456

  • 11c · Fees: accounting

    total $11,714 · management and general $11,714

  • 12 · Advertising and promotion

    total $449,270 · program services $1,395 · management and general $447,875

  • 13 · Office expenses

    total $272,885 · program services $19,043 · management and general $253,842

  • 14 · Information technology

    total $1,519,710 · program services $52,979 · management and general $1,466,731

  • 16 · Occupancy

    total $164,544 · management and general $164,544

  • 17 · Travel

    total $819,121 · program services $187,130 · management and general $631,991

  • 19 · Conferences, conventions and meetings

    total $46,303 · program services $20,112 · management and general $26,191

  • 20 · Interest

    total $15,250,423 · program services $15,250,423

  • 21 · Payments to affiliates

    total $58,032 · management and general $58,032

  • 22 · Depreciation, depletion and amortization

    total $7,859,092 · program services $7,859,092

  • 23 · Insurance

    total $63,544 · program services $63,544

  • 24a · Other expenses: Provision for credit losses

    total -$460,926 · program services -$460,926

  • 24b · Other expenses: Staffing Reimbursement

    total $17,273,288 · program services $7,345,701 · management and general $9,927,587

  • 24c · Other expenses: Real Estate operating expens

    total $8,907,257 · program services $8,907,257

  • 24d · Other expenses: Loan administration

    total $2,264,385 · program services $2,122,783 · management and general $141,602

  • 24e · All other expenses

    total $2,985,693 · program services $1,826,734 · management and general $1,158,959

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $160,562,050 · end of year $160,288,792

  • 4 · Accounts receivable

    beginning of year $39,403,347 · end of year $43,775,423

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

    $299,367,993

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

    $72,295,043

  • 10c · Land, buildings and equipment, net

    beginning of year $211,927,514 · end of year $227,072,950

  • 11 · Investments: publicly traded securities

    beginning of year $157,783,421 · end of year $142,428,200

  • 13 · Investments: program-related

    beginning of year $419,108,345 · end of year $440,702,692

  • 15 · Other assets

    beginning of year $21,036,996 · end of year $18,662,003

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,880,324 · end of year $11,997,283

  • 23 · Secured mortgages and notes payable

    beginning of year $175,466,785 · end of year $185,039,743

  • 24 · Unsecured notes and loans payable

    beginning of year $179,734,307 · end of year $182,086,610

  • 25 · Other liabilities

    beginning of year $13,868,595 · end of year $12,798,550

  • 27 · Net assets without donor restrictions

    beginning of year $584,541,431 · end of year $594,825,466

  • 28 · Net assets with donor restrictions

    beginning of year $46,330,231 · end of year $46,182,408

Mission and programs · 2023

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 7,200

    Expenses $25,961,591 · Revenue $19,389,540

  • 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 3,308

    Expenses $11,856,160 · Revenue $22,217,026

  • 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 19,173

    Expenses $5,377,516 · Revenue $16,846,060

As filed on the 2023 return.

Listed in Part VII

  • Russel Hagen

    Manager Transition Ex

    Total calculated
    $177,545
    From this org
    $0
    From related orgs
    $158,143
    Other
    $19,402
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $158,143 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $19,402 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $177,545 related

  • Jeremy Hofer

    Commercial Lending Sector Lea

    Total calculated
    $144,667
    From this org
    $0
    From related orgs
    $118,778
    Other
    $25,889
    Hours/week
    0 + 40 related

  • Lillian Steponaitis

    Director Special Projects

    Total calculated
    $141,229
    From this org
    $0
    From related orgs
    $122,543
    Other
    $18,686
    Hours/week
    0 + 40 related

  • Jorge Lopez Colunga

    Business Development Officer

    Total calculated
    $139,168
    From this org
    $0
    From related orgs
    $120,652
    Other
    $18,516
    Hours/week
    0 + 40 related

  • Randy Chambers

    TreasurerSecretary

    Total calculated
    $137,529
    From this org
    $0
    From related orgs
    $96,777
    Other
    $40,752
    Hours/week
    0 + 40 related

  • Machika Smyzer Stewart

    Director Talent Management

    Total calculated
    $132,965
    From this org
    $0
    From related orgs
    $120,920
    Other
    $12,045
    Hours/week
    0 + 40 related

  • Martin Eakes

    CEODirector

    Total calculated
    $131,432
    From this org
    $0
    From related orgs
    $97,699
    Other
    $33,733
    Hours/week
    0 + 40 related

  • Amanda Frazier Wong

    President

    Total calculated
    $126,747
    From this org
    $0
    From related orgs
    $103,963
    Other
    $22,784
    Hours/week
    0 + 40 related

  • Jean Pudlo

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Lynne Walker

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Ajulo Othow

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Duanne Andrade

    Diretor

    Total calculated
    $0
    Hours/week
    0.5

  • Matthew Hobbs

    DirectorChair

    Total calculated
    $0
    Hours/week
    0.5

  • Elbert Avery

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Robert Schall

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Catherine Clark

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Marla Bilonick

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Korell

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Ronn Stewart

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • James H Sills III

    Director

    Total calculated
    $0
    Hours/week
    0.5

  • Tara Kenchen

    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. 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

  • 3 · Approval by the board or compensation committee

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

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.

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.

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 XIV LLC

    Related · charitable loans · NC · 1% owned · share of income $22 · general or managing partner

    Directly controlled by Self-Help Manager LLC

  • Historic Revolution Manager LLC

    Related · historic building · NC · 95% owned · share of income -$120,691 · share of assets $11,914,700 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • Historic Revolution Tenant LLC

    Related · historic building · NC · 1% owned · share of income $82,943 · share of assets $837,970 · general or managing partner

    Directly controlled by Historic Revolution Manager LLC

  • Historic Revolution LLC

    Related · historic building · NC · 39% owned · share of income $1,592,273 · share of assets $31,323,006 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHHP Holloway LLC

    Related · historic building · NC · 95% owned · share of income $567,072 · share of assets $10,443,458 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHHP East Durham LLC

    Related · historic building · NC · 80% owned · share of income $233,360 · share of assets $7,629,998 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHHP East Durham Manager LLC

    Related · historic building · NC · 99% owned · share of income $1,927 · share of assets $68,991 · 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 $6,068 · share of assets $59,683 · general or managing partner

    Directly controlled by SHHP East Durham Manager LLC

  • SHHP Pearson LLC

    Related · historic building · NC · 85% owned · share of income $96,742 · share of assets $7,743,113 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHHP Pearson Manager LLC

    Related · historic building · NC · 99% owned · share of income $959 · share of assets $27 · general or managing partner

    Directly controlled by Self-Help Historic Properties

  • SHHP Pearson Tenant LLC

    Related · historic building · NC · 100% owned · share of income $262,748 · share of assets $5,224,481 · general or managing partner

    Directly controlled by Self-Help Ventures Fund

  • SHVF Mill House Manager LLC

    Related · historic building · NC · 1% owned · share of income $1,681 · share of assets $17,560,226 · 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 $8,148 · share of assets $279,381 · 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 $354,793 · share of assets $23,014,653 · general or managing partner

    Directly controlled by Self-Help Ventures Fund

  • Self-Help New Markets 15 LLC

    Related · charitable loans · NC · 1% owned · share of income $669 · share of assets $70,045 · general or managing partner

    Directly controlled by Self-Help Manager LLC

  • Self-Help New Markets 16 LLC

    Related · charitable loans · NC · 1% owned · share of income $1,095 · share of assets $40,121 · general or managing partner

    Directly controlled by Self-Help Manager LLC

  • 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 · 1% 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 -$1,271,111 · share of assets $14,661,056 · controlled entity

  • Self-Help Housing Inc

    C Corp · affordable housing · NC · 100% owned · share of income $10 · share of assets $204,448 · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202423179349301017

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