Housing Opportunities Inc
- Assets
- $8.5m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 1
- Location
- Greensboro, NC
- Founding
- 09/1992
- Data as of
- 12/2021
- EIN
- 56-1728944
Organization Overview
Housing Opportunities Inc is located in Greensboro, NC. The organization was established in 1992. 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. 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, Housing Opportunities Inc generated $2.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.8%) per year over the past 7 years. 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 TO ELDERLY AND LOW INCOME FAMILIES AND TO PROMOTE SOCIAL WELFARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS FORMED TO ACQUIRE, CONSTRUCT, REHABILITATE AND OPERATE LOW INCOME HOUSING FOR ELDERLY AND LOW INCOME FAMILIES. THE ORGANIZATION OPERATES ITS WHOLLY OWNED PROPERTIES AND THE C CORPORATIONS IN WHICH IT WHOLLY OWNS THE STOCK. IN ADDITION, THE ORGANIZATION IS A PARTNER IN SEVERAL PARTNERSHIPS THAT PROVIDE AFFORDABLE HOUSING TO QUALIFYING LOW INCOME INDIVIDUALS AND FAMILIES. THE ORGANIZATION ALSO PROMOTES SOCIAL WELFARE OF THE COMMUNITY BY MAKING GRANTS TO LOCAL NON-PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri M Gunn VP & Secretary | OfficerTrustee | 10 | $33,660 |
Es Melvin President | OfficerTrustee | 1 | $0 |
Anne Moore Assistant Secretary | OfficerTrustee | 1 | $0 |
William Stone Director | Trustee | 1 | $0 |
Shirley Frye Director | Trustee | 1 | $0 |
David Routh Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,381,959 |
| 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 | $1,381,959 |
| Total Program Service Revenue | $918,712 |
| Investment income | $1,084 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$26,801 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,274,954 |
| 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. | $33,660 |
| Compensation of current officers, directors, key employees. | $33,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,020 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,463 |
| Payroll taxes | $19,739 |
| Fees for services: Management | $116,986 |
| Fees for services: Legal | $4,514 |
| Fees for services: Accounting | $36,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,900 |
| Office expenses | $15,896 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,489 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $474,530 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $202,026 |
| Insurance | $72,986 |
| All other expenses | $1,947 |
| Total functional expenses | $1,777,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $889,548 |
| Savings and temporary cash investments | $1,151,849 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $83,195 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $452,237 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $36,035 |
| Net Land, buildings, and equipment | $3,578,263 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,558,085 |
| Intangible assets | $0 |
| Other assets | $776,766 |
| Total assets | $8,525,978 |
| Accounts payable and accrued expenses | $66,394 |
| 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 | $6,731,379 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,773 |
| Total liabilities | $6,819,546 |
| Net assets without donor restrictions | $1,706,432 |
| 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 | $8,525,978 |
Grants Awarded
Over the last fiscal year, Housing Opportunities Inc has awarded $200,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Greensboro, NC PURPOSE: TO SUPPORT OPPROTUNITIES FOR CHILDREN TO GROW, LEARN, AND CREATE MEMORIES. | $100,000 |
THE COMMUNITY FOUNDATION OF GREATER GREENSBORO PURPOSE: TO SUPPORT HOUSING INITIATIVE AND COMMISSION RESEARCH ON THE EFFECTS OF AFFORABLE HOUSING. | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Big Canoe Property Owners Association Inc And Subsidiary Big Canoe, GA | $48,180,026 | $19,159,834 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |
Virginia Supportive Housing Richmond, VA | $30,778,021 | $11,444,363 |
Habitat For Humanity International Inc Memphis, TN | $13,622,959 | $12,248,424 |
Our Lady Of Peace Inc Roanoke, VA | $13,777,109 | $11,564,075 |
Guardian Center Inc Ooltewah, TN | $1,527,267 | $10,632,560 |
Jerusalem House Inc Atlanta, GA | $4,358,598 | $7,877,090 |
Habitat For Humanity International Inc Newport News, VA | $9,861,358 | $8,052,076 |
American Opportunity Foundation Atlanta, GA | $34,585,201 | $5,667,158 |
Recovery Place Community Services Inc Savannah, GA | $2,985,458 | $7,587,530 |