Cahec Management Inc
- Assets
- $9.9m
- Revenue
- $10.4m
- Investments
- $0.0
- Employees
- 569
- Location
- Raleigh, NC
- Founding
- Data as of
- 12/2021
- EIN
- 84-3628117
Organization Overview
Cahec Management Inc is located in Raleigh, NC. According to its NTEE Classification (L11) the organization is classified as: Single Organization Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Cahec Management Inc employed 569 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cahec Management 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, Cahec Management Inc generated $10.4m in total revenue. All expenses for the organization totaled $8.2m during the year ending 12/2021. While expenses have increased by 107.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SERVES AS PROPERTY MANAGEMENT COMPANY FOR LOW-INCOME HOUSING PROJECTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTERS AND SUPPORTS DECENT, SAFE, AND SANITARY HOUSING FOR LOW-INCOME PERSONS VIA PROPERTY MANAGEMENT OF LOW INCOME COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Wilczewski Vice President | Officer | 40 | $190,780 |
Barbara Jaco Vice President | OfficerTrustee | 40 | $190,395 |
Kyle Harrelson Manager Of Finance & Accounting | Officer | 40 | $116,263 |
Steven Wade Compliance Officer | Officer | 40 | $111,357 |
Dana Boole President | OfficerTrustee | 0.3 | $0 |
Erin A Griffin Secretary And Treasurer | OfficerTrustee | 0.3 | $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 | $10,365,211 |
| Investment income | $0 |
| 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 | $10,365,211 |
| 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. | $1,793,851 |
| Compensation of current officers, directors, key employees. | $269,078 |
| Compensation to disqualified persons | $3,581,497 |
| 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 | $16,123 |
| Fees for services: Accounting | $38,667 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $353,611 |
| Advertising and promotion | $0 |
| Office expenses | $425,792 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,005 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $220,981 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $812,471 |
| Insurance | $223,129 |
| All other expenses | $200,971 |
| Total functional expenses | $8,214,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,542,091 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $424,171 |
| 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 | $363,062 |
| Net Land, buildings, and equipment | $245,156 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,373,488 |
| Other assets | $0 |
| Total assets | $9,947,968 |
| Accounts payable and accrued expenses | $662,735 |
| 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 | $6,744,613 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,407,348 |
| Net assets without donor restrictions | $0 |
| 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 | $20,064 |
| Retained earnings, endowment, accumulated income, or other funds | $2,520,556 |
| Total liabilities and net assets/fund balances | $9,947,968 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cahec Management Inc Raleigh, NC | $9,947,968 | $10,365,211 |
Vsu Auxiliary Services Real Estatefoundation Inc Valdosta, GA | $163,910,452 | $6,694,353 |
Richfield Foundation Salem, VA | $0 | $0 |
Aldersgate Life Plan Services Inc Charlotte, NC | $512,670 | $138,330 |
American Village Communities Inc Fairfax, VA | $10,611,697 | $3,645,882 |
230 John Wesley Dobbs Boulevard Ventures Inc Atlanta, GA | $13,295,834 | $2,161,354 |
Holston United Methodist Home For Children Foundation Inc Greeneville, TN | $46,120,321 | $4,035,558 |
Baptist Retirement Homes Foundation Winston Salem, NC | $47,968,572 | $2,829,285 |
Early Learning Property Management Inc Atlanta, GA | $26,441,881 | $2,751,537 |
Deerfield Charitable Foundation Asheville, NC | $16,996,116 | $890,781 |
Virginia Community Development Fund Inc Richmond, VA | $8,280,823 | $4,728,316 |
Coker College Properties Hartsville, SC | $10,600,591 | $303,099 |