Cumberland Courts Inc
- Assets
- $2.7m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 8
- Location
- Greensboro, NC
- Founding
- 11/1964
- Data as of
- 06/2022
- EIN
- 56-0810755
Organization Overview
Cumberland Courts Inc is located in Greensboro, NC. The organization was established in 1964. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Cumberland Courts Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cumberland Courts Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2022, Cumberland Courts Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 53.3% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SUPPLY AFFORDABLE HOUSING TO THE GENERAL PUBLIC
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPLY AFFORDABLE HOUSING TO THE GENERAL PUBLIC
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Smith President | OfficerTrustee | 1 | $0 |
Barbara White-Tate Vice-President | OfficerTrustee | 1 | $0 |
Hobson Bryant Treasurer | OfficerTrustee | 1 | $0 |
Jerome Lee Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $25 |
| 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 | $1,209,951 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $277,707 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $73,302 |
| Payroll taxes | $21,461 |
| Fees for services: Management | $134,348 |
| Fees for services: Legal | $8,160 |
| Fees for services: Accounting | $17,718 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $33,014 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $265,014 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $196,734 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $100,214 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,128,672 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,643 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,318 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $616,842 |
| Total assets | $2,749,259 |
| Accounts payable and accrued expenses | $8,560 |
| 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 | $3,738,743 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $80,497 |
| Total liabilities | $3,827,800 |
| Net assets without donor restrictions | -$1,078,541 |
| 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 |
| Total liabilities and net assets/fund balances | -$1,078,541 |