Inter-Church Council Housing Corporation
- Assets
- $5.2m
- Revenue
- $981.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Chapel Hill, NC
- Founding
- 03/1977
- Data as of
- 07/2022
- EIN
- 56-1089522
Organization Overview
Inter-Church Council Housing Corporation is located in Chapel Hill, NC. The organization was established in 1977. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inter-Church Council Housing Corporation 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 07/2022, Inter-Church Council Housing Corporation generated $981.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $1.1m during the year ending 07/2022. While expenses have increased by 3.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING AND RELATED SERVICES TO QUALIFIED LOW AND MODERATE INCOME FAMILIES UNDER PROGRAMS SUPERVISED AND SUBSIDIZED BY HUD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING AND RELATED SERVICES TO QUALIFIED LOW AND MODERATE INCOME FAMILIES UNDER PROGRAMS SUPERVISED AND SUBSIDIZED BY HUD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Simon Vincent President | OfficerTrustee | $0 | |
Holly Fraccaro Vice Preside | OfficerTrustee | $0 | |
David W Owens Board Member | Trustee | $0 | |
Sheldon Watlington Board Member | Trustee | $0 | |
Raymond Trapp Board Member | Trustee | $0 | |
Margaret Barrett Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $126,904 |
| 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 | $126,904 |
| Total Program Service Revenue | $854,421 |
| Investment income | $180 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$260 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $981,245 |
| 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 | $105,975 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,219 |
| Fees for services: Management | $66,553 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,188 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $103,051 |
| Advertising and promotion | $312 |
| Office expenses | $45,109 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $72,347 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,278 |
| Interest | $177,468 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $169,077 |
| Insurance | $72,506 |
| All other expenses | $16,395 |
| Total functional expenses | $1,134,142 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,636 |
| Savings and temporary cash investments | $1,538,939 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,749 |
| 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 | $19,220 |
| Net Land, buildings, and equipment | $3,312,834 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $167,113 |
| Other assets | $29,799 |
| Total assets | $5,155,290 |
| Accounts payable and accrued expenses | $130,179 |
| 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 | $5,622,716 |
| Unsecured mortgages and notes payable | $376,477 |
| Other liabilities | $32,393 |
| Total liabilities | $6,161,765 |
| Net assets without donor restrictions | -$1,006,475 |
| 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 | $5,155,290 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Choanoke Area Development Assoc Rich Square, NC | $3,243,319 | $10,393,050 |
Association For Retarded Citizens Housing Development Services Inc Greensboro, NC | $38,855,283 | $9,434,004 |
Twin Rivers Opportunities Inc New Bern, NC | $1,111,953 | $5,873,122 |
John Sparks Manor Inc Union City, GA | $0 | $5,675,234 |
Larry Moore Manor Inc Union City, GA | $0 | $4,277,912 |
Lewinsville Retirement Residence McLean, VA | $23,915,511 | $4,142,115 |
Rhg-Afforable Housing Ii Inc Atlanta, GA | $13,550,062 | $7,175,901 |
Broadway Towers Inc Atlanta, GA | $17,531,706 | $3,119,210 |
Partners In Hope Inc Myrtle Beach, SC | $10,489,405 | $3,015,967 |
C O R E Programs Inc Charlotte, NC | $3,904,146 | $3,649,405 |
Santee Lynches Affordable Housing And Community Development Corp Sumter, SC | $22,034,704 | $3,598,391 |
Clairmont Oaks Inc Decatur, GA | $12,058,022 | $3,642,909 |