Totals
- Total revenue
- $149,492
- Total expenses
- $248,797
- Contributions and grants received
- $65,565
- Grants paid
- $0
- Program service revenue
- $98,509
- Investment income
- -$14,582
- Other revenue
- $0
- Total assets, end of year
- $2,801,197
- Total liabilities, end of year
- $3,592,910
- Net assets or fund balances, end of year
- -$791,713
- Program services expenses (Part IX)
- $242,296
- Management and general expenses
- $6,501
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $242,296
Program services were 97.4% 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.
-
1e · Government grants (contributions)
$65,565
-
2a · Program service revenue: TENANT RENTAL PAYMENTS
total $98,358 · related or exempt $98,358
-
2b · Program service revenue: TENANT CHARGES
total $151 · related or exempt $151
-
3 · Investment income
total $166 · excluded $166
-
7b · Less cost or other basis and sales expenses
other assets $14,748
-
7c · Gain or loss
other assets -$14,748
-
7d · Net gain or loss
total -$14,748 · excluded -$14,748
Functional expenses
Part IX, the statement of functional expenses.
-
11a · Fees: management
total $18,091 · program services $18,091
-
11c · Fees: accounting
total $5,000 · management and general $5,000
-
12 · Advertising and promotion
total $397 · program services $397
-
13 · Office expenses
total $12,349 · program services $12,349
-
16 · Occupancy
total $42,649 · program services $42,649
-
22 · Depreciation, depletion and amortization
total $92,702 · program services $92,702
-
23 · Insurance
total $7,501 · program services $7,501
-
24a · Other expenses: PAYROLL REIMBURSEMENT
total $36,295 · program services $36,295
-
24b · Other expenses: CONTRACT LABOR
total $32,312 · program services $32,312
-
24c · Other expenses: MISCELLANEOUS EXPENSES
total $1,501 · management and general $1,501
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $804 · end of year $11,309
-
2 · Savings and temporary cash investments
beginning of year $201,728 · end of year $173,646
-
4 · Accounts receivable
beginning of year $2 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $2,804 · end of year $3,897
-
10a · Land, buildings and equipment: cost or other basis
$3,532,523
-
10b · Land, buildings and equipment: accumulated depreciation
$927,566
-
10c · Land, buildings and equipment, net
beginning of year $2,687,677 · end of year $2,604,957
-
15 · Other assets
beginning of year $7,445 · end of year $7,388
-
17 · Accounts payable and accrued expenses
beginning of year $19,510 · end of year $19,394
-
19 · Deferred revenue
beginning of year $813 · end of year $1,028
-
25 · Other liabilities
beginning of year $3,572,545 · end of year $3,572,488
-
27 · Net assets without donor restrictions
beginning of year -$692,408 · end of year -$791,713
Mission and programs · 2023
Mission
OWN AND OPERATE REGAL OAKS APARTMENTS, A 24-UNIT APARTMENT COMPLEX, UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. THE PROJECT IS LOCATED IN HENDERSONVILLE, NORTH CAROLINA AND IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENTAL RATES AND OPERATING METHODS. ADDITIONALLY, UNITS IN THE PROJECT ARE COVERED UNDER A PROJECT RENTAL ASSISTANCE CONTRACT WITH HUD AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD.
Activities or mission (Part I)
TO OWN AND OPERATE A 24-UNIT APARTMENT COMPLEX, UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. THE PROJECT IS LOCATED IN HENDERSONVILLE, NORTH CAROLINA AND IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENTAL RATES AND OPERATING METHODS. ADDITIONALLY, UNITS IN THE PROJECT ARE COVERED UNDER A PROJECT RENTAL ASSISTANCE CONTRACT WITH HUD AND A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD.
-
OWN AND OPERATE A 24 UNIT APARTMENT COMPLEX UNDER SECTION 202 OF THE NATIONAL HOUSING ACT.
Expenses $242,296 · Revenue $98,509
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Sheryl FortuneSHERYL FORTUNE
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Daniel HeymanDANIEL HEYMAN
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Jennifer DuvallJENNIFER DUVALL
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Blanca SanchezBLANCA SANCHEZ
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Mallory BenjaminMALLORY BENJAMIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sonya FlynnSONYA FLYNN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Candi GuffeyCANDI GUFFEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tyler HenryTYLER HENRY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Maryann HollockerMARYANN HOLLOCKER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nory LebrunNORY LEBRUN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kristen LeeKRISTEN LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ellen MacDonald-AlmazanELLEN MACDONALD-ALMAZAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jennifer MaynorJENNIFER MAYNOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steve WilkieSTEVE WILKIE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
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.
-
THE HOUSING ASSISTANCE CORPORATION
501(C)(3) · AFFORDABLE HOUSING DEVELOPMENT · NC
-
501(C)(3) · AFFORDABLE HOUSING · NC
Directly controlled by THE HOUSING ASSISTANCE CORPORATION
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 26 July 2024
- IRS schema version
- 2023v5.1
- Source object
- 202412119349300001
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