DAVIDSON, NC
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)MOSAIC DEVELOPMENT GROUP, founded in 1966, is a community nonprofit that reported $3.4M in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum. The organization ran a surplus of $928K, a strong 27% operating margin.
TO ENHANCE COMMUNITIES AND IMPROVE LIVES THROUGH DIVERSE HOUSING AND ECONOMIC DEVELOPMENT SOLUTIONS. MOSAIC BELIEVES THAT HIGH QUALITY HOUSING FOR A VARIETY OF INCOMES IS A CATALYST FOR VIBRANT, HEALTHY COMMUNITIES. THEIR VISION IS THAT EVERYONE HAS ACCESS TO HIGH QUALITY HOUSING, IN THRIVING COMMUNITIES THAT OFFER A VARIETY OF JOBS AND SERVICES.
FERNHILL APARTMENTS (CONOVER, NC - 72 FAMILY UNITS) WAS COMPLETED, PLACED IN SERVICE, AND STABILIZED DURING THE YEAR. THE PROPERTY TRANSITIONED TO NORMAL OPERATIONS, PROVIDING HIGH-QUALITY...
FERNHILL APARTMENTS (CONOVER, NC - 72 FAMILY UNITS) WAS COMPLETED, PLACED IN SERVICE, AND STABILIZED DURING THE YEAR. THE PROPERTY TRANSITIONED TO NORMAL OPERATIONS, PROVIDING HIGH-QUALITY, AFFORDABLE HOUSING FOR WORKING FAMILIES IN THE REGION. MOSAIC HOLDS BOTH DIRECT AND INDIRECT GENERAL PARTNER INTERESTS AND CONTINUES TO EXERCISE SIGNIFICANT INFLUENCE OVER THE PROJECT'S OPERATIONS. ORCHARD POINT APARTMENTS (SANFORD, NC - 40 FAMILY UNITS), A COMPREHENSIVE REHABILITATION OF THE FORMER APPLE TREE APARTMENTS, COMMENCED CONSTRUCTION IN 2024 FOLLOWING THE PRIOR YEAR'S AWARD OF LOW-INCOME HOUSING TAX CREDITS (LIHTC). COMPLETION IS ANTICIPATED IN MID-2025. 902 S. BRIGGS AVENUE APARTMENTS (DURHAM, NC - 124 FAMILY UNITS) ADVANCED THROUGH THE LIHTC APPLICATION PROCESS. AT THE REQUEST OF THE NORTH CAROLINA HOUSING FINANCE AGENCY (NCHFA), MOSAIC RESUBMITTED ITS 4% TAX-EXEMPT BOND APPLICATION IN THE FALL 2024 ROUND, WITH AN AWARD EXPECTED IN 2025. RENAISSANCE COMMONS (ELIZABETH CITY, NC - 48 SENIOR UNITS) RECEIVED AN AWARD OF 9% LOW-INCOME HOUSING TAX CREDITS IN 2024 FOR A COMPREHENSIVE REHABILITATION OF THE EXISTING PROPERTY. CONSTRUCTION IS ANTICIPATED TO COMMENCE IN 2025, PRESERVING AFFORDABLE HOUSING FOR SENIORS IN THE REGION.
IN RECOGNITION OF THE GROWING NEED FOR AFFORDABLE HOUSING THROUGHOUT NORTH CAROLINA, MOSAIC INITIATED A STRATEGIC RECAPITALIZATION TO STRENGTHEN ITS ABILITY TO EXPAND ITS DEVELOPMENT PIPELINE. AS...
IN RECOGNITION OF THE GROWING NEED FOR AFFORDABLE HOUSING THROUGHOUT NORTH CAROLINA, MOSAIC INITIATED A STRATEGIC RECAPITALIZATION TO STRENGTHEN ITS ABILITY TO EXPAND ITS DEVELOPMENT PIPELINE. AS PART OF THIS EFFORT, MOSAIC SOLD FIVE SITES FROM ITS 23-PROPERTY PORTFOLIO TO AN INVESTOR COMMITTED TO PRESERVING THEIR LONG-TERM AFFORDABILITY. FOUR OF THE FIVE TRANSACTIONS SUCCESSFULLY CLOSED IN 2024, WITH THE FIFTH EXPECTED TO CLOSE IN 2025. THESE ACTIONS REFLECT MOSAIC'S ONGOING COMMITMENT TO EXPANDING AND PRESERVING AFFORDABLE HOUSING OPPORTUNITIES FOR NORTH CAROLINA HOUSEHOLDS WHILE MAINTAINING PRUDENT FINANCIAL STEWARDSHIP AND STRONG PARTNERSHIPS WITH PUBLIC AND PRIVATE STAKEHOLDERS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $3,390,095 | $2,611,828 | +0.3% |
| Expenses | $2,461,636 | $2,685,476 | -0.1% |
| Net Income | $928,459 | $-73,648 | -13.6% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| CARI JONES | BOARD CHAIR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| KIM GRAHAM | BOARD VICE CHAIR | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| TAMMIE RHODES | BOARD TREASURER | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| MARY RECA TODD | BOARD SECRETARY | 1.00 |
Officer
Director
|
$0 | $0 | $0 |
| VERONICA CLEMMONS | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| DAVID GITLIN | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| KORY JETER | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| SHERYL FORTUNE | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| SHAUN GOLDEN | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| LATONYA SHOAF | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| JEFF STAUDINGER | BOARD MEMBER | 1.00 |
Director
|
$0 | $0 | $0 |
| WILLIAM BOLSTAD | EXECUTIVE DIRECTOR | 50.00 |
Officer
|
$196,707 | $17,705 | $214,412 |
| JILL V WEAVER | ACCOUNTING MANAGER | 40.00 |
Highest
|
$141,557 | $22,692 | $164,249 |
| JIMMY ROYSTER | SENIOR PROJECT MANAGER | 40.00 |
Highest
|
$148,436 | $14,336 | $162,772 |
| LISA LEMOS | ASSET MANAGER | 40.00 |
Highest
|
$118,855 | $21,034 | $139,889 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $3,390,095 | $2,461,636 | $13,825,405 | $928,459 |
| 2023 | $2,611,828 | $2,685,476 | $17,585,293 | $-73,648 |
| 2022 | $3,157,936 | $2,643,732 | $17,811,638 | $514,204 |
| 2021 | $3,061,867 | $2,475,926 | $17,779,352 | $585,941 |
| 2020 | $2,182,288 | $1,482,836 | $10,983,237 | $699,452 |
| 2019 | $3,097,370 | $1,992,512 | $13,079,598 | $1,104,858 |
| 2018 | $1,358,961 | $835,253 | $4,513,207 | $523,708 |
Compare MOSAIC DEVELOPMENT GROUP with other nonprofits in North Carolina and across the country.