Hendersonville Affordable Housing Inc
- Assets
- $15.1m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Hendersonville, NC
- Founding
- Data as of
- 09/2023
- EIN
- 84-3536431
Organization Overview
Hendersonville Affordable Housing Inc is located in Hendersonville, NC. Hendersonville Affordable Housing Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 09/2023, Hendersonville Affordable Housing Inc generated $4.4m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 14.5% each year . All expenses for the organization totaled $4.0m during the year ending 09/2023. While expenses have increased by 5.2% per year over the past 2 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ENTITY'S PURPOSE IS TO PROVIDE LOW AND VERY LOW INCOME PERSONS WITH AFFORDABLE HOUSING IN HENDERSONVILLE, NC. EFFECTIVE 10/01/2020, THE ENTITY OWNS 352 UNITS OF HOUSING THAT WAS PUBLIC HOUSING AND IS NOW CONVERTED UNDER HUD'S RAD PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING FOR LOW AND VERY LOW INCOME INDIVIDUALS AND FAMILIES UNDER HUD'S MULTI-FAMILY PROGRAM.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronnie Pepper Chairman | OfficerTrustee | 0 | $0 |
Garry Sherrill Vice-Chariman | OfficerTrustee | 0 | $0 |
Danny Williams Director | Trustee | 0 | $0 |
Fair Waggoner Director | Trustee | 0 | $0 |
Chris Denney Director | Trustee | 0 | $0 |
Suzanne Sherrill Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,339,815 |
| 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 | $1,339,815 |
| Total Program Service Revenue | $3,072,548 |
| Investment income | $4,882 |
| 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 | $4,417,245 |
| 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 | $438,344 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $170,784 |
| Payroll taxes | $0 |
| Fees for services: Management | $205,779 |
| Fees for services: Legal | $14,866 |
| Fees for services: Accounting | $7,396 |
| 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 | $74,328 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $992 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $249,946 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $675,326 |
| Insurance | $96,284 |
| All other expenses | $444,783 |
| Total functional expenses | $3,986,150 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,589,045 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,297 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,545 |
| Inventories for sale or use | $27,269 |
| Prepaid expenses and deferred charges | $21,838 |
| Net Land, buildings, and equipment | $11,970,238 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,479,679 |
| Total assets | $15,144,911 |
| Accounts payable and accrued expenses | $426,476 |
| Grants payable | $0 |
| Deferred revenue | $5,402 |
| 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 | $8,225,753 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $145,090 |
| Total liabilities | $8,802,721 |
| Net assets without donor restrictions | $6,342,190 |
| 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 | $15,144,911 |