Cahec Properties Corporation
- Assets
- $13.9m
- Revenue
- $634.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Raleigh, NC
- Founding
- 06/2002
- Data as of
- 12/2021
- EIN
- 56-2217808
Organization Overview
Cahec Properties Corporation is located in Raleigh, NC. The organization was established in 2002. 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. As of 12/2021, Cahec Properties Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cahec Properties Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
FOSTERS AND SUPPORTS DECENT, SAFE, AND SANITARY HOUSING FOR LOW-INCOME PERSONS VIA PRESERVATION AND OWNERSHIP OF LOW INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTS IN LOW INCOME HOUSING/HISTORIC TAX CREDIT PROPERTIES THAT ARE DISTRESSED FOR FINANCIAL/MANAGERIAL REASONS IN WHICH COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION (CAHEC - PARENT COMPANY) SPONSORED EQUITY FUNDS MADE AN INVESTMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin A Griffin Secretary And Treasurer | OfficerTrustee | 0.3 | $0 |
Dana Boole President And Assistant Se | OfficerTrustee | 0.3 | $0 |
Robert Landis Assistant Secretary | OfficerTrustee | 0.3 | $0 |
George Baker Assistant Secretary | 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 | $618,719 |
| Investment income | $140 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $15,114 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $633,973 |
| 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 | $259,439 |
| Pension plan accruals and contributions | $20,768 |
| Other employee benefits | $25,811 |
| Payroll taxes | $14,843 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,187 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,665 |
| Advertising and promotion | $2,003 |
| Office expenses | $43,547 |
| Information technology | $8,107 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $19,551 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $578 |
| Interest | $196,243 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,416 |
| Insurance | $475 |
| All other expenses | $1,814 |
| Total functional expenses | $658,416 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,561,066 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $120,668 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,978,472 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,352 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $9,243,540 |
| Intangible assets | $0 |
| Other assets | $23,300 |
| Total assets | $13,931,398 |
| Accounts payable and accrued expenses | $387,469 |
| 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 | $9,885,781 |
| Unsecured mortgages and notes payable | $23,300 |
| Other liabilities | $0 |
| Total liabilities | $10,296,550 |
| Net assets without donor restrictions | $3,634,848 |
| 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 | $13,931,398 |
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