Mountain Housing Opportunities Loan Fund Inc is located in Asheville, NC. The organization was established in 2013. 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. Mountain Housing Opportunities Loan Fund 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 Loan Fund Inc generated $884.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $358.9k during the year ending 12/2021. While expenses have increased by 9.4% 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 ADVANCE HOMEOWNERSHIP, PROMOTE COMMUNITY DEVELOPMENT AND IMPROVE ECONOMIC OPPORTUNITIES THROUGH FINANCIAL ASSISTANCE AND OTHER ACTIVITIES BENEFITING LOW AND MODERATE INCOME PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HOME LOANS FOR LOW AND MODERATE INCOME FAMILIES IN BUNCOMBE, HAYWOOD, HENDERSON, AND MADISON COUNTIES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Treva Williams Secretary | OfficerTrustee | 0.5 | $0 |
Anthony Thomas Vice Chair | OfficerTrustee | 0.5 | $0 |
Theresa Piwowar Treasurer | OfficerTrustee | 0.5 | $0 |
Lee Mcelrath Chair | OfficerTrustee | 0.5 | $0 |
Scott Dedman President & Executive Dire | Officer | 40 | $0 |
Jack Gilbert Director | Trustee | 0.5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $332,812 |
All other contributions, gifts, grants, and similar amounts not included above | $137,930 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $470,742 |
Total Program Service Revenue | $413,871 |
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 | $884,613 |
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 | $217,147 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $2,142 |
Fees for services: Accounting | $6,973 |
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 | $6,808 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $18 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $35,039 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $623 |
Insurance | $3,298 |
All other expenses | $964 |
Total functional expenses | $358,868 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $685,190 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $31,482 |
Accounts receivable, net | $6 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $8,426,862 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $2,619 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $9,146,159 |
Accounts payable and accrued expenses | $2,360 |
Grants payable | $0 |
Deferred revenue | $43,508 |
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 | $1,310,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $1,355,868 |
Net assets without donor restrictions | $4,110,127 |
Net assets with donor restrictions | $3,680,164 |
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 | $9,146,159 |
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