Dhic Inc
- Assets
- $32.0m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 29
- Location
- Raleigh, NC
- Founding
- 08/1974
- Data as of
- 12/2021
- EIN
- 56-1085131
Organization Overview
Dhic Inc is located in Raleigh, NC. The organization was established in 1974. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Dhic Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dhic 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 12/2021, Dhic Inc generated $6.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $4.1m during the year ending 12/2021. While expenses have increased by 8.6% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD, PROMOTE, AND PRESERVE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THESE EXPENSES ARE GENERATED BY VARIOUS DEVELOPMENTS OF LOW-INCOME HOUSING PROJECTS. MODERATE AND LOW-INCOME FAMILIES WILL OCCUPY THE HOMES UPON COMPLETION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yolanda Winstead President | Officer | 41 | $215,000 |
Sharon Lorden Vice President | Officer | 40 | $169,671 |
Natalie Britt Vice President | Officer | 40 | $156,945 |
Rodney Brown VP Of Asset Mgmt | 40 | $124,464 | |
Michael Rodgers Director Or Re Develop. | 40 | $119,327 | |
Sheila Porter Assistant Secretary | Officer | 40 | $114,539 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rick Laughlin Asset Management Consulting | 12/30/18 | $112,151 |
Rankin Mckenzie Llc Accounting And Hr Services | 12/30/18 | $124,104 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $996,856 |
| All other contributions, gifts, grants, and similar amounts not included above | $461,917 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,458,773 |
| Total Program Service Revenue | $3,383,065 |
| Investment income | $355,760 |
| 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 | $6,009,696 |
| 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. | $840,410 |
| Compensation of current officers, directors, key employees. | $568,926 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,258,816 |
| Pension plan accruals and contributions | $185,882 |
| Other employee benefits | $287,705 |
| Payroll taxes | $150,875 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $48,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $342,554 |
| Advertising and promotion | $39,747 |
| Office expenses | $29,593 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $32,780 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,270 |
| Interest | $6,767 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $231 |
| Insurance | $0 |
| All other expenses | $122,471 |
| Total functional expenses | $4,117,076 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,018,559 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $330,564 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,038,890 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,301 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,534,156 |
| Total assets | $31,965,470 |
| Accounts payable and accrued expenses | $640,228 |
| Grants payable | $0 |
| Deferred revenue | $7,151 |
| 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 | $1,525,778 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,173,157 |
| Net assets without donor restrictions | $27,463,026 |
| Net assets with donor restrictions | $2,329,287 |
| 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 | $31,965,470 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Dhic Inc has recieved totaling $600,000.
| Awarding Organization | Amount |
|---|---|
Neighborhood Reinvestment Corp Washington, DC PURPOSE: GENERAL SUPPORT | $522,500 |
Triangle Community Foundation Durham, NC PURPOSE: GENERAL PURPOSE | $55,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $12,500 |
Wake County Smartstart Raleigh, NC PURPOSE: KALEIDOSCOPE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Homes Of Hope Inc Greenville, SC | $52,743,040 | $8,879,901 |
Dhic Inc Raleigh, NC | $31,965,470 | $6,009,696 |
Habitat For Humanity International Leesburg, VA | $1,817,454 | $3,499,520 |
Promise Development Corporation Memphis, TN | $5,823,077 | $3,033,896 |
Habitat For Humanity International Inc Fredericksburg, VA | $1,919,221 | $2,299,173 |
Crossroads Corp For Affordable Housing And Community Dev Inc Charlotte, NC | $3,590,675 | $1,496,977 |
Millbrook Homes Inc Winstonsalem, NC | $1,657,494 | $820,182 |
Hampton Roads Housing Assistants Inc Chesapeake, VA | $311,808 | $1,030,750 |
Champions Community Foundation Inc Johns Creek, GA | $6,758,980 | $1,049,035 |
Fayetteville Area Operationinasmuch Fayetteville, NC | $1,640,883 | $714,527 |
Community Housing Services Agency Inc Savannah, GA | $5,401,354 | $1,041,756 |
Housing Partnerships Inc Williamsburg, VA | $802,371 | $474,871 |