Community Revitalization And Reservation Corporation
- Assets
- $42.2m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 04/1987
- Data as of
- 12/2021
- EIN
- 58-1707107
Organization Overview
Community Revitalization And Reservation Corporation is located in Raleigh, NC. The organization was established in 1987. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Community Revitalization And Reservation Corporation 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, Community Revitalization And Reservation Corporation generated $6.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $7.3m during the year ending 12/2021. While expenses have increased by 1.3% 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 BUILD, PROMOTE, AND PRESERVE AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION BUILDS, PROMOTES, AND PRESERVES AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Lorden Vice President | Officer | 0.5 | $0 |
Michael Ward Treasurer | Officer | 0.5 | $0 |
Sheila Porter Assistant Secretary | Officer | 0.5 | $0 |
Betsy Rozakis Director | Officer | 0.5 | $0 |
Natalie Britt Vice President | Officer | 0.5 | $0 |
Yolanda Winstead President | Officer | 0.5 | $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 | $6,292,875 |
| Investment income | $11,173 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$442,048 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,127,827 |
| 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 | $1,007,392 |
| 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 | $99,429 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,405 |
| Advertising and promotion | $7,575 |
| Office expenses | $338,394 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,063,917 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,458,733 |
| Insurance | $0 |
| All other expenses | $29,758 |
| Total functional expenses | $7,328,138 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,449,734 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $262,931 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $969,840 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $255,346 |
| Net Land, buildings, and equipment | $33,664,057 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $535,409 |
| Intangible assets | $0 |
| Other assets | $36,731 |
| Total assets | $42,174,048 |
| Accounts payable and accrued expenses | $1,855,205 |
| Grants payable | $0 |
| Deferred revenue | $52,233 |
| 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 | $42,638,880 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $386,524 |
| Total liabilities | $44,932,842 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$2,758,794 |
| Total liabilities and net assets/fund balances | $42,174,048 |
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| Organization Name | Assets | Revenue |
|---|---|---|
Macon Bibb County Economic Opportunity Council Inc Macon, GA | $9,862,743 | $18,330,804 |
Economic Opportunity For Savannah Chatham County Area Inc Savannah, GA | $8,523,279 | $14,850,530 |
Waccamaw Economic Opportunity Council Inc Conway, SC | $5,439,118 | $14,126,176 |
Coastal Plain Area Economic Opportunity Authority Inc Valdosta, GA | $6,623,534 | $13,801,263 |
Coastal Community Action Inc Newport, NC | $6,264,251 | $13,623,681 |
Aiken Barnwell Counties Community Action Agency Inc Aiken, SC | $1,345,575 | $11,151,502 |
Neighborhood Preservation Inc Memphis, TN | $5,226,571 | $6,441,182 |
Community Action For Improvement Inc Lagrange, GA | $4,305,950 | $11,116,636 |
United Housing Connections Greenville, SC | $13,006,355 | $10,964,417 |
Ocab Inc Community Action Agency Orangeburg, SC | $8,392,192 | $10,031,403 |
Beaufort Jasper Economic Opportunity Commission Inc Beaufort, SC | $1,934,293 | $11,255,794 |
Greene Lamp Incorporated Kinston, NC | $3,334,002 | $10,099,904 |