JT HAIRSTON MEMORIAL APARTMENTS INC

EIN: 560938355 501(c)(3)

GREENSBORO, NC

Total Revenue
$1,527,994
Total Expenses
$1,705,482
Total Assets
$3,396,081
Net Assets
$-899,766
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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
1968
Legal Domicile
NC
Principal Officer
MARY G MIMS
Phone
3363751552
Tax Period
2024-06-01 to 2025-05-31

JT HAIRSTON MEMORIAL APARTMENTS INC, founded in 1968, is a community nonprofit that reported $1.5M in total revenue in fiscal year 2024. Expenses of $1.7M exceeded revenue, resulting in a 12% operating deficit.

Mission

J.T. HAIRSTON MEMORIAL APARTMENTS, INC. WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 108-UNIT APARTMENT COMMUNITY IN GREENSBORO, NORTH CAROLINA, KNOWN AS J.T. HAIRSTON MEMORIAL APARTMENTS. THE CORPORATION PROVIDES HOUSING FOR LOW INCOME PERSONS PURSUANT TO SECTION 221(D)(4) OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS GOVERNING THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,273,025
Program Service Revenue $254,470
Investment Income $499
Other Revenue $0
TOTAL REVENUE $1,527,994

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,573,665
Other Expenses $1,705,482
TOTAL EXPENSES $1,705,482

Year-over-Year Comparison

2024 2023 Change
Revenue $1,527,994 $1,433,023 +0.1%
Expenses $1,705,482 $1,524,085 +0.1%
Net Income $-177,488 $-91,062 +0.9%
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

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
N/A

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
3
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARY G MIMS CHAIRPERSON 2.50
Officer Director
$0 $0 $0
DR GEORGE KILPATRICK VICE CHAIRPERSON 2.50
Officer Director
$0 $0 $0
W STEVEN ALLEN JR SECRETARY/TREASURER 2.50
Officer Director
$0 $0 $0
MARY FOX DIRECTOR 2.50
Director
$0 $0 $0
MARVA WATLINGTON DIRECTOR 2.50
Director
$0 $0 $0
JOSEPH BENNETT DIRECTOR 2.50
Director
$0 $0 $0
DR WAYLAND MCKENZIE DIRECTOR 2.50
Director
$0 $0 $0
REV MATTHEW BROWN DIRECTOR 2.50
Director
$0 $0 $0
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
2025 $1,527,994 $1,705,482 $3,396,081 $-177,488
2024 $1,433,023 $1,524,085 $3,668,605 $-91,062
2023 $1,080,217 $1,154,145 $3,781,028 $-73,928
2022 $1,045,650 $1,085,461 $3,913,872 $-39,811
2021 $1,045,679 $1,073,596 $4,020,282 $-27,917
2020 $1,018,842 $1,012,185 $4,103,693 $6,657
2019 $980,353 $1,028,052 $4,172,633 $-47,699
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