Twin Rivers Opportunities Inc
- Assets
- $1.4m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 10
- Location
- New Bern, NC
- Founding
- 01/1969
- Data as of
- 09/2023
- EIN
- 56-0928836
Organization Overview
Twin Rivers Opportunities Inc is located in New Bern, NC. The organization was established in 1969. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 09/2023, Twin Rivers Opportunities Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Twin Rivers Opportunities 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 09/2023, Twin Rivers Opportunities Inc generated $7.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $7.1m during the year ending 09/2023. While expenses have increased by 5.4% 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
PROVIDE HOUSING FOR LOW-INCOME POPULATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SECTION 8 VOUCHER PROGRAM - PROVIDE RENT SUBSIDIES TO LOW-INCOME FAMILIES WHO ARE ELIGIBLE IN ACCORDANCE WITH HUD PROGRAM GUIDELINES.
OTHER PROGRAMS AND FUNDS - GENERAL EXPENSES RELATED TO THE AGENCY'S OVERALL MISSION TO PROVIDE HOUSING FOR LOW-INCOME POPULATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Dixon Executive Di | OfficerTrustee | 35 | $119,959 |
Teresa Brown Board Member | Trustee | 1 | $0 |
Denise Godette Treasurer | Trustee | 1 | $0 |
Norma Sermon-Boyd Secretary | Trustee | 1 | $0 |
Marshall Williams Vice-Chairma | Trustee | 1 | $0 |
Gerald Wingate Chairman | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,317,679 |
| 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 | $7,317,679 |
| Total Program Service Revenue | $0 |
| Investment income | $1,108 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,342,759 |
| 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 | $458,522 |
| Pension plan accruals and contributions | $16,949 |
| Other employee benefits | $51,666 |
| Payroll taxes | $35,029 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,340 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,001 |
| Travel | $4,866 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,229 |
| Insurance | $20,931 |
| All other expenses | $5,715 |
| Total functional expenses | $7,093,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,148,593 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Net Land, buildings, and equipment | $240,912 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $18,290 |
| Other assets | $0 |
| Total assets | $1,407,795 |
| Accounts payable and accrued expenses | $277,804 |
| 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 | $0 |
| Other liabilities | $75,494 |
| Total liabilities | $353,298 |
| Net assets without donor restrictions | $895,572 |
| Net assets with donor restrictions | $158,925 |
| 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 | $1,407,795 |