Macgregor Housing Development Corporation
- Assets
- $1.4m
- Revenue
- $181.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 10/2003
- Data as of
- 12/2022
- EIN
- 56-2237995
Organization Overview
Macgregor Housing Development Corporation is located in Raleigh, NC. The organization was established in 2003. 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. Macgregor Housing Development Corporation 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, Macgregor Housing Development Corporation generated $181.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $221.9k during the year ending 12/2022. While expenses have increased by 1.0% 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
TO DEVELOP, CONSTRUCT, OWN, AND OPERATE A LOW INCOME HOUSING COMPLEX IN PITT COUNTY, NC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES APARTMENTS TO LOW-INCOME HOUSEHOLDS IN PITT COUNTY WITH PREFERENCE TO VICTIMS OF HURRICANE FLOYD.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gordon Grubb Director | Trustee | 0.5 | $0 |
Jordan Maness Director | Trustee | 0.5 | $0 |
Tyler Craft Director | Trustee | 0.5 | $0 |
Mia Bailey Chair | Trustee | 0.5 | $0 |
Betsy Rozakis Vice Chair | Trustee | 0.5 | $0 |
Natalie Britt Vice President | Officer | 0.5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $199,684 |
| Investment income | $1,209 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$19,211 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $181,682 |
| 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 | $49,726 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,325 |
| Payroll taxes | $3,409 |
| Fees for services: Management | $19,313 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,054 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16 |
| Office expenses | $1,852 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $59,376 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,271 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,964 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $221,941 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,554 |
| Savings and temporary cash investments | $106,612 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $713 |
| 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 | $1,959 |
| Net Land, buildings, and equipment | $1,098,788 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,364,626 |
| Accounts payable and accrued expenses | $91,025 |
| 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 | $2,066,959 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,365 |
| Total liabilities | $2,173,349 |
| Net assets without donor restrictions | -$808,723 |
| 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 | $1,364,626 |