North Carolina Home Builders Assoc Educational & Charitable Foundatio
- Assets
- $5.2m
- Revenue
- $1.5m
- Investments
- $1.4m
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 06/1995
- Data as of
- 12/2023
- EIN
- 56-1864518
Organization Overview
North Carolina Home Builders Assoc Educational & Charitable Foundatio is located in Raleigh, NC. The organization was established in 1995. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Home Builders Assoc Educational & Charitable Foundatio 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 12/2023, North Carolina Home Builders Assoc Educational & Charitable Foundatio generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 68.7% each year . All expenses for the organization totaled $1.6m during the year ending 12/2023. 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
TO PROVIDE EDUCATION AND DISASTER RELIEF FUNDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION AWARDS SCHOLARSHIPS BASED ON A COMBINATION OF NEED AND MERIT TO FOUR-YEAR COLLEGE STUDENTS ENTERING THEIR JUNIOR OR SENIOR YEAR AND TECHNICAL SCHOOL STUDENTS ENTERING THEIR SECOND YEAR WHO HAVE DECLARED THEIR MAJOR IN A CONSTRUCTION RELATED FIELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brandon Bryant Chairman | OfficerTrustee | 2 | $0 |
Cody Byrd Vice Chairman | OfficerTrustee | 2 | $0 |
Tim Minton President | OfficerTrustee | 2 | $0 |
Tracie Garrett Vice President | OfficerTrustee | 1 | $0 |
Charlene Allen Secretary/treasurer | OfficerTrustee | 1 | $0 |
Thomas Mclean Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $17,740 |
| Related organizations | $50,000 |
| Government grants | $1,266,245 |
| All other contributions, gifts, grants, and similar amounts not included above | $165,602 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,499,587 |
| Total Program Service Revenue | $0 |
| Investment income | $21,655 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,708 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,524,950 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,500 |
| Grants and other assistance to domestic individuals. | $22,910 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $9,279 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,297 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,330 |
| Office expenses | $1,083 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $359,372 |
| Insurance | $17,905 |
| All other expenses | $4,662 |
| Total functional expenses | $1,599,794 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,307,150 |
| Savings and temporary cash investments | $16,291 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,391 |
| 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 | $651,874 |
| Net Land, buildings, and equipment | $1,851,716 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,369,775 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,889 |
| Total assets | $5,242,086 |
| Accounts payable and accrued expenses | $2,560 |
| Grants payable | $0 |
| Deferred revenue | $1,752,571 |
| 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 | $11,379 |
| Total liabilities | $1,766,510 |
| Net assets without donor restrictions | $3,475,576 |
| 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 | $5,242,086 |
Grants Awarded
Over the last fiscal year, North Carolina Home Builders Assoc Educational & Charitable Foundatio has awarded $42,375 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
JOB SAFETY INSTITUTE PURPOSE: SAFETY AND EDUCATION RESEARCH IN THE BUILDERS/CONSTRUCTION FIELD | $25,000 |
COMMUNITY FOUNDATION OF LOUISVILLE PURPOSE: HURRICANE/TORNADO RELIEF | $17,375 |