Davidson Housing Coalition
- Assets
- $3.0m
- Revenue
- $485.3k
- Investments
- $0.0
- Employees
- 5
- Location
- Davidson, NC
- Founding
- 07/1998
- Data as of
- 06/2022
- EIN
- 56-2057448
Organization Overview
Davidson Housing Coalition is located in Davidson, NC. The organization was established in 1998. 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 06/2022, Davidson Housing Coalition employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Davidson Housing Coalition 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 06/2022, Davidson Housing Coalition generated $485.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $598.4k during the year ending 06/2022. While expenses have increased by 5.1% 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
TO WORK WITH THE LARGER COMMUNITY TO PRESERVE AND CREATE AFFORDABLE HOUSING OPTIONS AND TO PREPARE FAMILIES AND INDIVIDUALS FOR FINANCIAL STABILITY AND HOME OWNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE RENTAL PROGRAM - DAVIDSON HOUSING COALITION OWNS AND MANAGES VARIOUS REAL ESTATE DESIGNATED AS AFFORDABLE. THESE PROPERTIES ARE AVAILABLE FOR LEASE TO INDIVIDUALS AND FAMILIES EARNING UP TO 80% OF AREA MEDIAN INCOME. CERTAIN UNITS ARE ALSO AVAILABLE ON A PURCHASE OR LEASE-TO-PURCHASE BASIS TO THE SAME DEMOGRAPHIC.
HAMMERS - MAKES LOW-TO-NO-COST EMERGENCY REPAIRS ON OWNER-OCCUPIED HOMES IN HUNTERSVILLE, CORNELIUS, DAVIDSON, AND MOORESVILLE. TO QUALIFY, HOUSEHOLDS MUST BOTH OWN AND OCCUPY THEIR HOMES AND EARN LESS THAN 80% OF THE AREA MEDIAN INCOME, OR APPROXIMATELY $56,550 FOR A FAMILY OF FOUR. THE PRIMARY GOAL OF THE HAMMERS PROGRAM IS TO REDUCE OR ELIMINATE THE IMMEDIATE THREATS TO A HOUSEHOLD'S LIFE, HEALTH OR SAFETY, UTILIZING VOLUNTEER LABOR AND DONATED MATERIAL WHEREVER POSSIBLE TO MINIMIZE COST. ELIGIBLE REPAIRS MUST BE EMERGENCY IN NATURE, AS DETERMINED BY QUALIFIED VOLUNTEER INSPECTORS, AND INCLUDE NEEDS PERTAINING TO ACCESSIBILITY, CARPENTRY, PLUMBING, ROOFING, ELECTRICITY, OR FURNACE/AC FUNCTIONING.
HOMEBUYER EDUCATION AND FINANCIAL LITERACY - DAVIDSON HOUSING COALITION SERVES AS THE ARM OF THE TOWN OF DAVIDSON IN ITS IMPLEMENTATION OF THE AFFORDABLE HOUSING ORDINANCE. DHC'S HOMEBUYER EDUCATION AND FINANCIAL LITERACY PROGRAM EDUCATES, COUNSELS, AND QUALIFIES ALL POTENTIAL HOMEOWNERS OF UNITS BUILT THROUGH THIS ORDINANCE THROUGH HOMEBUYER EDUCATION WORKSHOPS, PERSONALIZED BUDGET AND CREDIT COUNSELING, AND POST-HOMEOWNERSHIP PROGRAMMING. COUNSELORS WORK WITH INDIVIDUALS TO REPAIR OR IMPROVE CREDIT HISTORIES AND CREATE FINANCIAL PLANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald Wright Executive Dir. | Officer | 40 | $96,319 |
Margaret Martens Chair | OfficerTrustee | 2 | $0 |
Margo Williams Chair Emeritus | Trustee | 2 | $0 |
Dick Hay Vice Chair | OfficerTrustee | 2 | $0 |
John Woods Treasurer | OfficerTrustee | 2 | $0 |
T Michele Crowell Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $247,892 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $247,892 |
| Total Program Service Revenue | $220,406 |
| Investment income | $17,012 |
| 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 | $485,310 |
| 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. | $96,319 |
| Compensation of current officers, directors, key employees. | $24,080 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $105,834 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $25,648 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,107 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,021 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $598 |
| Interest | $35,501 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $108,096 |
| Insurance | $25,014 |
| All other expenses | $8,781 |
| Total functional expenses | $598,432 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $84,372 |
| Pledges and grants receivable | $19,500 |
| Accounts receivable, net | $96,049 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $660,883 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,763 |
| Net Land, buildings, and equipment | $2,153,977 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50 |
| Total assets | $3,021,594 |
| Accounts payable and accrued expenses | $12,846 |
| 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 | $743,813 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,248 |
| Total liabilities | $771,907 |
| Net assets without donor restrictions | $2,006,476 |
| Net assets with donor restrictions | $243,211 |
| 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 | $3,021,594 |