Mountain Housing Opportunities Inc
- Assets
- $35.3m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 18
- Location
- Asheville, NC
- Founding
- 02/1989
- Data as of
- 12/2021
- EIN
- 58-1816998
Organization Overview
Mountain Housing Opportunities Inc is located in Asheville, NC. The organization was established in 1989. According to its NTEE Classification (L81) the organization is classified as: Home Improvement & Repairs, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Mountain Housing Opportunities Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mountain Housing Opportunities Inc 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 12/2021, Mountain Housing Opportunities Inc generated $6.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $3.3m during the year ending 12/2021. While expenses have increased by 4.5% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME INDIVIDUALS LIVING IN BUNCOMBE COUNTY AND THE SURROUNDING AREAS OF NORTH CAROLINA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED PROGRAMS FOR REHABILITATION, WEATHERIZATION, MAINTENANCE & OTHER IMPROVEMENTS TO HOUSEHOLDS OF LOW-INCOME, ELDERLY AND HANDICAPPED INDIVIDUALS. PROVIDED AFFORDABLE HOUSING TO LOW-INCOME RENTERS AND FIRST-TIME HOMEOWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Dedman President & Executive Dire | Officer | 40 | $123,400 |
Cindy Weeks Commumity Rental Investmen | 40 | $123,400 | |
Mike Vance VP Operations | 40 | $102,500 | |
Lee Mcelrath Chair | OfficerTrustee | 0.5 | $0 |
Anthony Thomas Vice Chair | OfficerTrustee | 0.5 | $0 |
Treva Williams Secretary | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hyden Construction Contractor | 12/30/21 | $247,860 |
Turn-key Foundations Inc Contractor | 12/30/21 | $109,346 |
Houser Construction Contractor | 12/30/21 | $136,178 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $45,399 |
| Related organizations | $0 |
| Government grants | $1,218,868 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,863,473 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,127,740 |
| Total Program Service Revenue | $2,586,990 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $228,743 |
| Net Income from Fundraising Events | -$28,424 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,111,464 |
| 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. | $123,400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,094,550 |
| Pension plan accruals and contributions | $31,786 |
| Other employee benefits | $147,080 |
| Payroll taxes | $92,139 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,745 |
| Fees for services: Accounting | $67,398 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $65,810 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,800 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $307,797 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $507,192 |
| Insurance | $51,931 |
| All other expenses | $9,698 |
| Total functional expenses | $3,306,646 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,028,141 |
| Savings and temporary cash investments | $2,952,486 |
| Pledges and grants receivable | $232,139 |
| Accounts receivable, net | $1,066,349 |
| 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 | $0 |
| Net Land, buildings, and equipment | $18,533,111 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $817 |
| Intangible assets | $0 |
| Other assets | $10,529,097 |
| Total assets | $35,342,140 |
| Accounts payable and accrued expenses | $399,360 |
| Grants payable | $0 |
| Deferred revenue | $114,483 |
| 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 | $15,447,606 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $132,035 |
| Total liabilities | $16,093,484 |
| Net assets without donor restrictions | $12,129,985 |
| Net assets with donor restrictions | $7,118,671 |
| 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 | $35,342,140 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Mountain Housing Opportunities Inc has recieved totaling $155,398.
| Awarding Organization | Amount |
|---|---|
Wnc Bridge Foundation Asheville, NC PURPOSE: IMPACT GRANT | $80,000 |
Enterprise Community Partners Inc Columbia, MD PURPOSE: ACQUISITION AND REHAB OF AFFORDABLE HOUSING | $37,142 |
American Endowment Foundation Hudson, OH PURPOSE: HOUSING, SHELTER | $15,000 |
National Christian Charitable Foundation Inc Fort Mill, SC PURPOSE: HUMAN SERVICES | $14,506 |
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: BUILDING COMMUNITY & ECONOMIC VITALITY | $8,750 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Elderhomes Corp Richmond, VA | $14,660,799 | $21,894,456 |
Mountain Housing Opportunities Inc Asheville, NC | $35,342,140 | $6,111,464 |
Rebuilding Together Of The Triangle Morrisville, NC | $784,092 | $2,781,755 |
Community Housing Solutions Of Guilford Inc Greensboro, NC | $1,617,584 | $1,424,464 |
Resource Service Ministries Inc Atlanta, GA | $1,736,240 | $1,535,671 |
Southside Outreach Group Inc South Boston, VA | $3,092,581 | $1,458,646 |
Rebuilding Together Of Greater Charlotte Inc Charlotte, NC | $993,357 | $1,359,244 |
Carolina Cross Connection Inc Gastonia, NC | $16,829 | $797,254 |
Rebuilding Together Atlanta Inc Atlanta, GA | $560,439 | $550,322 |
Rebuilding Together Of Richmond Richmond, VA | $314,205 | $833,981 |
Elderly Housing Inc Charleston, SC | $3,604,680 | $529,796 |
James Island Outreach Charleston, SC | $390,536 | $834,518 |