Cahec Properties Corporation
- Assets
- $15.1m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 7
- Location
- Raleigh, NC
- Founding
- 06/2002
- Data as of
- 12/2023
- EIN
- 56-2217808
Organization Overview
Cahec Properties Corporation is located in Raleigh, NC. The organization was established in 2002. 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 12/2023, Cahec Properties Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cahec Properties Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FOSTERS AND SUPPORTS DECENT, SAFE, AND SANITARY HOUSING FOR LOW-INCOME PERSONS VIA PRESERVATION AND OWNERSHIP OF LOW INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTS IN LOW INCOME HOUSING/HISTORIC TAX CREDIT PROPERTIES THAT ARE DISTRESSED FOR FINANCIAL/MANAGERIAL REASONS IN WHICH COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION (CAHEC - PARENT COMPANY) SPONSORED EQUITY FUNDS MADE AN INVESTMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President And Assistant Secretary | OfficerTrustee | 0.3 | $0 |
Name Not Listed Secretary And Treasurer | OfficerTrustee | 0.3 | $0 |
Name Not Listed Assistant Secretary | OfficerTrustee | 0.3 | $0 |
Name Not Listed Assistant Secretary | OfficerTrustee | 0.3 | $0 |
Name Not Listed Board Member | Trustee | 0.3 | $0 |
Name Not Listed Director, Development | 40 | $95,091 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,228,027 |
| Investment income | $112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $395,582 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,623,721 |
| 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 | $370,082 |
| Pension plan accruals and contributions | $29,374 |
| Other employee benefits | $29,464 |
| Payroll taxes | $22,905 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $126,395 |
| Fees for services: Accounting | $60,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $880 |
| Advertising and promotion | $7,657 |
| Office expenses | $3,329 |
| Information technology | $15,124 |
| Royalties | $0 |
| Occupancy | $9,900 |
| Travel | $22,002 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $68,149 |
| Interest | $282,911 |
| Payments to affiliates | $47,500 |
| Depreciation, depletion, and amortization | $270,047 |
| Insurance | $546 |
| All other expenses | $4,914 |
| Total functional expenses | $1,409,005 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,182,396 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $458,287 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,425,472 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $9,916,927 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $713,862 |
| Intangible assets | $0 |
| Other assets | $418,000 |
| Total assets | $15,114,944 |
| Accounts payable and accrued expenses | $1,620,743 |
| 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 | $5,751,514 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,372,257 |
| Net assets without donor restrictions | $7,742,687 |
| 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 | $15,114,944 |