Northwestern Housing Enterprises Incorporated
- Assets
- $24.7m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Boone, NC
- Founding
- 09/1996
- Data as of
- 12/2023
- EIN
- 56-1924027
Organization Overview
Northwestern Housing Enterprises Incorporated is located in Boone, NC. The organization was established in 1996. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwestern Housing Enterprises Incorporated 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, Northwestern Housing Enterprises Incorporated generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $3.4m during the year ending 12/2023. While expenses have increased by 9.8% per year over the past 5 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
AFFORDABLE HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPING AND MAINTAINING AFFORDABLE HOUSING UNITS:SEVENTEEN (17) AFFORDABLE HOUSING DEVELOPMENTS HAVE BEEN COMPLETED, INCLUDING FOUR SPECIAL NEEDS FACILITIES PROVIDING HOUSING FOR 30 PHYSICALLY OR MENTALLY DISABLED LOW INCOME INDIVIDUALS; 29 HOMES HAVE BEEN SOLD AT ADVANTAGED PRICES TO LOW INCOME FAMILIES; 220 AFFORDABLE RENTAL UNITS ARE OWNED, MAINTAINED, MANAGED; 207 ADDITIONAL AFFORDABLE RENTAL UNITS HAVE BEEN DEVELOPED, WITH 127 OF THESE BEING ACTIVELY MANAGED (THE OTHER 80 WERE DEVELOPED FOR UNAFFILIATED COMPANIES AND ARE INDEPENDENTLY MANAGED); CERTAIN PRIVATE GRANT FUNDS HAVE BEEN USED FOR CAPACITY BUILDING PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Benjamin Jak Reeves Chairman | OfficerTrustee | 0 | $0 |
Jack Boone Vice Chairman | OfficerTrustee | 0 | $0 |
Tamara C Divenere Board Member | Trustee | 0 | $0 |
David Blankenship Board Member | Trustee | 0 | $0 |
Sam Deyton Board Member | Trustee | 0 | $0 |
John Myers Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,691,142 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,024,592 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,715,734 |
| Total Program Service Revenue | $1,036,495 |
| Investment income | $7,261 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$41,356 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,929,453 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $354,101 |
| Fees for services: Legal | $80,529 |
| Fees for services: Accounting | $37,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $764,901 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $235,884 |
| Payments to affiliates | $572,357 |
| Depreciation, depletion, and amortization | $633,340 |
| Insurance | $98,184 |
| All other expenses | $95 |
| Total functional expenses | $3,356,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,262,862 |
| Savings and temporary cash investments | $1,039,953 |
| 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 | $2,515,523 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $13,089,801 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $113,909 |
| Other assets | $4,682,908 |
| Total assets | $24,704,956 |
| Accounts payable and accrued expenses | $731,566 |
| Grants payable | $0 |
| Deferred revenue | $296,561 |
| 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 | $11,078,487 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,639,883 |
| Total liabilities | $15,746,497 |
| Net assets without donor restrictions | $8,958,459 |
| 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 | $24,704,956 |