CENTRE FOR HOMEOWNERSHIP & ECONOMI… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Principal Officer

JAMES STROUD

Phone

9192414718

Tax Period

2024-01-01 to 2024-12-31

CENTRE FOR HOMEOWNERSHIP & ECONOMIC DEVELOPMENT, founded in 2010, is a community nonprofit in the Education sector that reported $1.7M in total revenue in fiscal year 2024. Expenses of $1.9M exceeded revenue, resulting in a 11% operating deficit.

Mission

TO ENRICH AND EDUCATE LIVES BY PROVIDING HOUSING COUNSELING SERVICES, FINANCIAL LITERACY, HOME OWNERSHIP OPPORTUNITIES, JOB SERVICES, BUSINESS SOLUTIONS AND ECONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $1,789,345 Revenue: $12,975

WE PROVIDE SERVICES THAT SUPPORT INNOVATIVE APPROACHES IN BOTH URBAN AND RURAL COMMUNITIES THAT FOCUS ON HEALTH AND WELLNESS, ECONOMIC STABILITY, AFFORDABLE HOUSING, FINANCIAL INDEPENDENCE, JOBS...

WE PROVIDE SERVICES THAT SUPPORT INNOVATIVE APPROACHES IN BOTH URBAN AND RURAL COMMUNITIES THAT FOCUS ON HEALTH AND WELLNESS, ECONOMIC STABILITY, AFFORDABLE HOUSING, FINANCIAL INDEPENDENCE, JOBS, BUSINESS DEVELOPMENT, AND SMALL BUSINESS TRAINING. ADDITIONALLY, CHOEDC PROVIDES NON-MEDICAL HOUSING SERVICES UNDER THE HEALTHY OPPORTUNITY PILOT PROGRAM AND PROVIDES MENTAL HEALTH CARE, SUBSTANCE ABUSE COUNSELING, AND PEER SUPPORT COUNSELING IN FIVE (5) CATCHMENT AREAS THROUGHOUT NORTH CAROLINA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,722,500

Program Service Revenue $12,975

Investment Income $163

Other Revenue $0

TOTAL REVENUE $1,735,638

Expense Breakdown

Grants Paid $289,088

Salaries & Benefits $200,883

Fundraising Expenses $28,409

Program Expenses $1,789,345

Other Expenses $1,436,210

TOTAL EXPENSES $1,926,181

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,735,638	$1,789,747	0.0%
Expenses	$1,926,181	$1,853,482	+0.0%
Net Income	$-190,543	$-63,735	+2.0%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$141,400

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE DRAKE	BOARD CHAIRMAN	2.00	Officer Director	$0	$0	$0
SHARON MOE	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
JASON HARRIS	TREASURER	2.00	Officer Director	$0	$0	$0
VICKIE FEASTER-FORNVILLE	SECRETARY	2.00	Officer Director	$0	$0	$0
DOUG MOLLETT	DIRECTOR	1.00	Director	$0	$0	$0
VICKI PINSON	DIRECTOR	1.00	Director	$0	$0	$0
JULIE RUSS	DIRECTOR	1.00	Director	$0	$0	$0
MELVIN WATSON	DIRECTOR	1.00	Director	$0	$0	$0
ALFREDO MACIAS	DIRECTOR	1.00	Director	$0	$0	$0
DYLAN MACIAS	DIRECTOR	1.00	Director	$0	$0	$0
DARIUS HUNT	DIRECTOR	1.00	Director	$0	$0	$0
DARON SATTERFIELD ESQUIRE	DIRECTOR	1.00	Director	$0	$0	$0
JAMES STROUD	EXECUTIVE DIRECTOR	50.00	Officer	$141,400	$0	$141,400

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,735,638	$1,926,181	$896,680	$-190,543
2023	$1,789,747	$1,853,482	$936,809	$-63,735
2022	$1,111,973	$764,268	$1,002,739	$347,705
2021	$642,719	$602,031	$705,112	$40,688
2020	$694,006	$706,627	$691,765	$-12,621

CENTRE FOR HOMEOWNERSHIP & ECONOMIC DEVELOPMENT