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Nonprofiteer
← DHIC INC

Form 990 for tax year 2022

Filed by DHIC INC.

Totals

Total revenue
$6,432,706
Total expenses
$5,101,960
Contributions and grants received
$2,029,070
Grants paid
$43,101
Program service revenue
$3,532,453
Investment income
$432,739
Other revenue
$438,444
Total assets, end of year
$31,913,929
Total liabilities, end of year
$950,970
Net assets or fund balances, end of year
$30,962,959
Program services expenses (Part IX)
$3,492,905
Management and general expenses
$1,609,055
Fundraising expenses
$0
Program service expenses (Part III)
$3,492,905

Program services were 68.5% 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)

    $1,601,606

  • 1f · All other contributions, gifts and grants

    $427,464

  • 2a · Program service revenue: PROJECT DEV FEE

    total $2,683,865 · related or exempt $2,683,865

  • 2b · Program service revenue: PTNERSHIP MGT. FEE

    total $826,541 · related or exempt $826,541

  • 2c · Program service revenue: HOMEOWNERSHIP COUNSELI

    total $22,047 · related or exempt $22,047

  • 3 · Investment income

    total $432,739 · related or exempt $424,504 · excluded $8,235

  • 11a · Other revenue: OTHER INCOME

    total $438,444 · related or exempt $438,444

  • 11e · Other revenue, total

    $438,444

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $43,101 · program services $43,101

  • 5 · Compensation of officers, directors and key employees

    total $910,422 · program services $294,190 · management and general $616,232

  • 7 · Other salaries and wages

    total $1,632,673 · program services $1,174,690 · management and general $457,983

  • 8 · Pension plan contributions

    total $232,505 · program services $142,997 · management and general $89,508

  • 9 · Other employee benefits

    total $322,516 · program services $197,585 · management and general $124,931

  • 10 · Payroll taxes

    total $186,993 · program services $111,697 · management and general $75,296

  • 11b · Fees: legal

    total $4,029 · program services $4,029

  • 11c · Fees: accounting

    total $65,190 · management and general $65,190

  • 11g · Fees: other

    total $323,011 · program services $261,951 · management and general $61,060

  • 12 · Advertising and promotion

    total $49,365 · program services $16,398 · management and general $32,967

  • 13 · Office expenses

    total $32,876 · program services $28,891 · management and general $3,985

  • 17 · Travel

    total $60,295 · program services $44,593 · management and general $15,702

  • 19 · Conferences, conventions and meetings

    total $10,204 · program services $7,288 · management and general $2,916

  • 20 · Interest

    total $9,611 · program services $9,611

  • 24a · Other expenses: DEVELOPMENT EXPENSE

    total $818,641 · program services $818,641

  • 24b · Other expenses: PROGRAM EXPENSE

    total $83,459 · program services $83,459 · management and general $0

  • 24c · Other expenses: EQUIPMENT COSTS

    total $78,111 · program services $74,701 · management and general $3,410

  • 24d · Other expenses: FORGIVENESS OF DEBT

    total $60,000 · program services $60,000

  • 24e · All other expenses

    total $178,958 · program services $119,083 · management and general $59,875

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,018,559 · end of year $8,368,755

  • 4 · Accounts receivable

    beginning of year $330,564 · end of year $839,790

  • 7 · Other notes and loans receivable

    beginning of year $11,038,890 · end of year $10,676,308

  • 9 · Prepaid expenses and deferred charges

    beginning of year $43,301 · end of year $40,549

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

    $364,687

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

    $364,687

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $13,534,156 · end of year $11,988,527

  • 17 · Accounts payable and accrued expenses

    beginning of year $640,228 · end of year $825,970

  • 19 · Deferred revenue

    beginning of year $7,151 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $1,525,778 · end of year $125,000

  • 27 · Net assets without donor restrictions

    beginning of year $27,463,026 · end of year $28,618,451

  • 28 · Net assets with donor restrictions

    beginning of year $2,329,287 · end of year $2,344,508

Mission and programs · 2022

Mission

TO BUILD, PROMOTE, AND PRESERVE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME PERSONS

  • THESE EXPENSES ARE GENERATED BY VARIOUS DEVELOPMENTS OF LOW-INCOME HOUSING PROJECTS. MODERATE AND LOW-INCOME FAMILIES WILL OCCUPY THE HOMES UPON COMPLETION.

    Expenses $3,492,905 · Grants $43,101 · Revenue $3,510,406

As filed on the 2022 return.

Listed in Part VII

  • DAN CLEMMENS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • GORDON GRUBB

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • JORDAN MANNESS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • JOYCE SPIVEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • RUSSELL PIERCE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • TYLER CRAFT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • JESSEE MCCOY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • MIGUEL FIGUERAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • JULIE PAUL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • MIA BAILEY

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • CHICO SCOTT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • BETSY ROZAKIS

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • MEGHAN MELO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • DANNY KADIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • STEVE EVANS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.5 related

  • NATALIE BRITT

    VICE PRESIDENT

    Total calculated
    $195,716
    From this org
    $168,875
    From related orgs
    $0
    Other
    $26,841
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $157,375
    Bonus
    $11,500
    Other
    $0
    Deferred
    $17,405
    Nontaxable benefits
    $9,436
    Filer's total
    $195,716

  • SHARON LORDEN

    VICE PRESIDENT

    Total calculated
    $212,026
    From this org
    $181,601
    From related orgs
    $0
    Other
    $30,425
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $170,101
    Bonus
    $11,500
    Other
    $0
    Deferred
    $18,805
    Nontaxable benefits
    $11,620
    Filer's total
    $212,026

  • YOLANDA WINSTEAD

    PRESIDENT

    Total calculated
    $271,007
    From this org
    $233,398
    From related orgs
    $0
    Other
    $37,609
    Hours/week
    41 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $221,898
    Bonus
    $11,500
    Other
    $0
    Deferred
    $24,754
    Nontaxable benefits
    $12,855
    Filer's total
    $271,007

  • SHEILA PORTER

    ASSISTANT SECRETARY

    Total calculated
    $151,804
    From this org
    $125,315
    From related orgs
    $0
    Other
    $26,489
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $113,815
    Bonus
    $11,500
    Other
    $0
    Deferred
    $12,671
    Nontaxable benefits
    $13,818
    Filer's total
    $151,804

  • WILLIAM WARD

    TREASURER

    Total calculated
    $145,475
    From this org
    $124,370
    From related orgs
    $0
    Other
    $21,105
    Hours/week
    40 + 0.5 related

  • JENNIFER FOELL

    SECRETARY

    Total calculated
    $93,513
    From this org
    $76,863
    From related orgs
    $0
    Other
    $16,650
    Hours/week
    40 + 0.5 related

  • RODNEY BROWN

    VP OF ASSET MGMT

    Total calculated
    $161,189
    From this org
    $137,960
    From related orgs
    $0
    Other
    $23,229
    Hours/week
    40 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $126,460
    Bonus
    $11,500
    Other
    $0
    Deferred
    $13,926
    Nontaxable benefits
    $9,303
    Filer's total
    $161,189

  • MICHAEL RODGERS

    DIRECTOR OR RE DEVELOP.

    Total calculated
    $148,159
    From this org
    $127,240
    From related orgs
    $0
    Other
    $20,919
    Hours/week
    40 + 0.5 related

  • KAYLA ROSENBERG

    SENIOR PROJECT MANAGER

    Total calculated
    $132,485
    From this org
    $112,698
    From related orgs
    $0
    Other
    $19,787
    Hours/week
    40 + 0.5 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. 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 · Compensation survey or study
  • 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

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.

  • BFAH LLC

    LOW-INCOME HOUSING · NC · income $0 · assets $10,000

    Directly controlled by DHIC INC

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202313199349317586

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