Cahec Capital Inc
- Assets
- $9.2m
- Revenue
- $575.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 11/2015
- Data as of
- 12/2023
- EIN
- 47-1982875
Organization Overview
Cahec Capital Inc is located in Raleigh, NC. The organization was established in 2015. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cahec Capital Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Cahec Capital Inc generated $575.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 16.7% each year . All expenses for the organization totaled $507.2k during the year ending 12/2023. While expenses have increased by 22.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE COMMUNITY DEVELOPMENT THAT FOSTERS SUSTAINABLE LOW-INCOME HOUSEHOLDS TO FOSTER HEALTHY, EMPOWERED AND SUSTAINABLE HOUSING OPPORTUNITIES FOR LOW- AND MODERATE-INCOME INDIVIDUALS AND FAMILIES. IN FURTHERANCE OF ITS MISSION, THE CORPORATION WILL PARTNER WITH ORGANIZATIONS AND BUSINESSES THAT FOCUS THEIR EFFORTS ON MEETING THE NEEDS OF LOW- AND MODERATE INCOME INDIVIDUALS AND FAMILIES. EMPHASIS WILL BE PLACED ON ACCESS TO CAPITAL TO FINANCE A VARIETY OF ACTIVITIES INTENDED TO FURTHER THE CORPORATION'S MISSION, INCLUDING FLEXIBLE FINANCING PROGRAMS THAT ASSIST INDIVIDUALS AND FAMILIES WITH OBTAINING AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE COMMUNITY DEVELOPMENT FINANCING TO UNDERSERVED AND LOW-INCOME POPULATIONS, PRESERVING AND IMPROVING NEIGHBORHOODS AND RETAINING QUALITY AFFORDABLE COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Sr. Vice President/director | OfficerTrustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Board Chair | Trustee | 1 | $0 |
Name Not Listed President And CEO | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $575,272 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $575,272 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $120,422 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,915 |
| Payroll taxes | $6,139 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,006 |
| Fees for services: Accounting | $24,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,355 |
| Advertising and promotion | $1,170 |
| Office expenses | $2,221 |
| Information technology | $12,139 |
| Royalties | $0 |
| Occupancy | $9,152 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,210 |
| Interest | $224,114 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,873 |
| All other expenses | $0 |
| Total functional expenses | $507,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $286,560 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $338,554 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,538,839 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,452 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $742 |
| Other assets | $0 |
| Total assets | $9,176,147 |
| Accounts payable and accrued expenses | $250,547 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $5,912,132 |
| Other liabilities | $70,488 |
| Total liabilities | $6,233,167 |
| Net assets without donor restrictions | $2,942,980 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,176,147 |