Self-Help Community Development Corp
- Assets
- $9.5m
- Revenue
- $961.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Durham, NC
- Founding
- 12/1996
- Data as of
- 12/2022
- EIN
- 56-1975829
Organization Overview
Self-Help Community Development Corp is located in Durham, NC. The organization was established in 1996. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Self-Help Community Development Corp 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, Self-Help Community Development Corp generated $961.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $977.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SELF-HELP COMMUNITY DEVELOPMENT CORPORATIONS MISSION IS TO CREATE AFFORDABLE HOUSING FOR LOW-INCOME PERSONS AND DISTRESSED COMMUNITIES. THE PRIMARY ACTIVITIES ARE RENOVATION OR NEW CONSTRUCTION AND SALES OF HOMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, SELF-HELP COMMUNITY DEVELOPMENT CORPORATION OPERATED AFFORDABLE HOUSING PROGRAMS IN THREE LOCATIONS WITHIN NORTH CAROLINA: CHARLOTTE, CHAPEL HILL, AND ROCKY MOUNT. SHCDC UNDERTOOK SEVERAL AFFORDABLE HOUSING ACTIVITIES ACROSS THESE GEOGRAPHIES: 1) SHCDC OWNED AND OPERATED AFFORDABLE RENTAL HOUSING IN CHARLOTTES GRIER HEIGHTS NEIGHBORHOOD, LEASING 34 GARDEN APARTMENTS TO LOW-INCOME TENANTS AT THE GRIERTON SQUARE PROJECT. 2) IN CHAPEL HILL, SHCDC MANAGED THE REHABILITATION OF PROPERTIES HELD IN A COMMUNITY LAND BANK IN THE NORTHSIDE NEIGHBORHOOD. SHCDC REHABBED 3 UNITS THAT WERE SOLD TO MARKET RATE BUYERS SUBJECT TO OWNER OCCUPANCY DEED RESTRICTIONS AND MANAGED THE PROCESS OF SECURING A RE-ZONING AND ENTITLEMENTS FOR THE DEVELOPMENT OF 4 UNITS ON A PARCEL SOLD TO A NONPROFIT AFFORDABLE HOUSING PARTNER. THE CHAPEL HILL LAND BANK ALSO HELD 9 PROPERTIES IN VARIOUS STAGES OF THE DEVELOPMENT PROCESS. ** SEE CONTINUE ON NEXT LINE 4B FROM BELOW **
3) SHCDC CONTINUED ITS WORK ON A PORTFOLIO OF RESIDENTIAL PROPERTIES IN ROCKY MOUNT, STARTING 7 TOTAL REHABS OF PROPERTIES FOR AFFORDABLE RENTAL HOUSING, 3 OF WHICH WERE COMPLETED IN 2022, AND SELLING 4 PROPERTIES, WHICH WERE A MIX OF VACANT LOTS AND VACANT HOMES. BY THE END OF 2022, 30 UNITS IN ROCKY MOUNT WERE LEASED TO LOW-INCOME HOUSEHOLDS, INCLUDING 2 OF THE 3 COMPLETED REHABS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Chambers Treasurerdirector | Officer | 1 | $0 |
Martin Eakes Director CEO | OfficerTrustee | 1 | $0 |
Stephanie Barnes-Simms Directorstaff | Trustee | 1 | $0 |
Al Bonner Directorstaff | Trustee | 1 | $0 |
Tucker Bartlett Directorpresident | OfficerTrustee | 1 | $0 |
Emily Yeatts Secretarystaff | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Path Residential Builders Llc Constr Contractor | 12/30/22 | $514,820 |
The Marian Cheek Jackson Center Service Contractor | 12/30/22 | $122,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $212,500 |
| 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 | $212,500 |
| Total Program Service Revenue | $657,667 |
| Investment income | $73,581 |
| 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 | $961,123 |
| 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 | $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 | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,700 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $326,743 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $107,584 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $100,629 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $977,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,465,028 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $177,081 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,452,387 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,343,157 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $56,118 |
| Total assets | $9,493,771 |
| Accounts payable and accrued expenses | $82,293 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $4,963,528 |
| Other liabilities | $0 |
| Total liabilities | $5,045,821 |
| Net assets without donor restrictions | $4,447,950 |
| 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 | $9,493,771 |
Grants Awarded
Over the last fiscal year, Self-Help Community Development Corp has awarded $54,959 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DUKE UNIVERSITY PURPOSE: Contribution from 50 of sale proceed | $39,959 |
SELF-HELP VENTURES FUND PURPOSE: Support rehabilitation cost | $15,000 |