Tarheel Regional Community Development Corporation
- Assets
- $522.4k
- Revenue
- $18.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Henderson, NC
- Founding
- 05/2004
- Data as of
- 12/2022
- EIN
- 80-0030850
Organization Overview
Tarheel Regional Community Development Corporation is located in Henderson, NC. The organization was established in 2004. According to its NTEE Classification (L80) the organization is classified as: Housing Support, 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. Tarheel Regional Community 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, Tarheel Regional Community Development Corporation generated $18.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (29.8%) each year. All expenses for the organization totaled $89.8k during the year ending 12/2022. 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
COMMUNITY DEVELOPMENT HOUSING FINANCIAL ASSISTANCE YOUTH DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT & FUNDING OF BAKERIES TO FEED THE HUNGRY ABROAD FUNDING SUPPORT FOR MINISTRY SERVING ALCOHOL & DRUG ADDICTION FUNDING SUPPORT FOR LOCAL MINISTRIES SERVING THE LOW INCOME POPULATION DIRECT OUTREACH TO COMMUNITY (EVENTS, FOOD, FINANCIAL ASSISTANCE, ETC.
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 |
|---|---|---|---|
Gary W Morgan President | OfficerTrustee | 20 | $7,034 |
Betty H Morgan Secretary | OfficerTrustee | 1 | $0 |
Christopher A Morgan Director | Trustee | 1 | $0 |
Walter D Tharrington Director | Trustee | 1 | $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 | $0 |
| Investment income | $428 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $52,400 |
| Net Gain/Loss on Asset Sales | -$41,739 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,873 |
| 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 | $463 |
| Compensation of current officers, directors, key employees. | $7,034 |
| Compensation of current officers, directors, key employees. | $7,034 |
| 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 | $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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $214 |
| 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 | $675 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,215 |
| Insurance | $3,531 |
| All other expenses | $9,554 |
| Total functional expenses | $89,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,630 |
| Savings and temporary cash investments | $277,881 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $241,886 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $522,397 |
| Accounts payable and accrued expenses | $246 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $625 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $80,150 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $81,021 |
| Net assets without donor restrictions | $441,376 |
| 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 | $522,397 |
Grants Awarded
Over the last fiscal year, Tarheel Regional Community Development Corporation has awarded $12,137 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
714 MINISTRIES PURPOSE: COMMUNITY DEVELOPMENT | $1,900 |
AWAKEN HEARTS MINISTRY PURPOSE: COMMUNITY DEVELOPMENT | $300 |
GLOBAL OUTREACH INT'L PURPOSE: COMMUNITY DEVELOPMENT | $500 |
DUNAMIS CHRISTIAN FELLOWSHIP PURPOSE: COMMUNITY DEVELOPMENT | $500 |
EMMANUEL DAILY BREAD SA PURPOSE: COMMUNITY DEVELOPMENT | $1,824 |
GIFTED FAITHFUL PURPOSE: COMMUNITY DEVELOPMENT | $1,500 |