Cleveland County Community Development Corp
- Assets
- $1.0m
- Revenue
- $815.3k
- Investments
- $0.0
- Employees
- 5
- Location
- Shelby, NC
- Founding
- 08/1994
- Data as of
- 12/2022
- EIN
- 56-1794362
Organization Overview
Cleveland County Community Development Corp is located in Shelby, NC. The organization was established in 1994. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Cleveland County Community Development Corp employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cleveland County Community Development Corp 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 12/2022, Cleveland County Community Development Corp generated $815.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $589.5k during the year ending 12/2022. While expenses have increased by 8.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP SINGLE AND MULTI-FAMILY AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME INDVIDUALS AND FAMILIES AND TO QUALIFY LOW AND MODERATE INCOME LEVEL INDIVIDUALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP SINGLE AND MULTI-FAMILY AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME INDIVIDUALS AND FAMILIES AND TO QUALIFY LOW AND MODERATE INCOME LEVEL INDIVIDUALS FOR HOME OWNERSHIP. PROVIDE SUPPORT SERVICES THAT INCLUDE CREDIT/BUDGET COUNSELING, FINANCIAL EDUCATION, MORTGAGE DEFAULT COUNSELING AND LOSS MITIGATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Hopper Chair | OfficerTrustee | 2 | $0 |
Ebony Alexander Vice Chair | OfficerTrustee | 2 | $0 |
Bryan Howell Secretary/treas | OfficerTrustee | 2 | $0 |
Jeff Ledford Director | Trustee | 1 | $0 |
Pam Hall Director | Trustee | 1 | $0 |
Joel Dancy Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $34,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $127,372 |
| All other contributions, gifts, grants, and similar amounts not included above | $447,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $608,422 |
| Total Program Service Revenue | $76,231 |
| Investment income | $366 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $22,595 |
| Net Gain/Loss on Asset Sales | $106,810 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $815,308 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $308,815 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $65,625 |
| Compensation of current officers, directors, key employees. | $6,562 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $96,757 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,816 |
| Payroll taxes | $12,643 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,850 |
| 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 | $6,982 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,012 |
| Travel | $4,626 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,031 |
| Interest | $2,770 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,729 |
| Insurance | $12,149 |
| All other expenses | $13,611 |
| Total functional expenses | $589,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $538,052 |
| Savings and temporary cash investments | $72,255 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,584 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $342,651 |
| Prepaid expenses and deferred charges | $3,350 |
| Net Land, buildings, and equipment | $36,616 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,035,508 |
| Accounts payable and accrued expenses | $11,522 |
| 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 | $96,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,542 |
| Total liabilities | $124,064 |
| Net assets without donor restrictions | $819,544 |
| Net assets with donor restrictions | $91,900 |
| 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 | $1,035,508 |