SHARON MANOR HOMES INC

EIN: 561404398 501(c)(3)

GREENSBORO, NC

Total Revenue
$318,766
Total Expenses
$306,145
Total Assets
$1,183,428
Net Assets
$-217,090
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1985
Legal Domicile
NC
Principal Officer
DR JAMES THOMAS
Phone
3365459000
Tax Period
2023-01-01 to 2023-12-31

SHARON MANOR HOMES INC, founded in 1985, is a small nonprofit that reported $319K in total revenue in fiscal year 2023. Expenses of $306K left a modest 4% surplus.

Mission

SHARON MANOR HOMES, INC (THE CORPORATION) WAS FORMED AS A NON-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF NORTH CAROLINA FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT UNDER SECTION 202 OF THE NATIONAL HOUSING ACT OPERATING AS SHARON MANOR HOMES (THE PROJECT). IN JANUARY OF 2007, THE PROJECT REFINANCED ITS HUD SECTION 202 LOAN WITH ONE COVERED BY HUD MORTGAGE INSURANCE UNDER SECTION 223(F) OF THE NATIONAL HOUSING ACT. IN FEBRUARY 2021, THE PROJECTS MORTGAGE WAS REFINANCED AGAIN AND IS INSURED BY HUD UNDER SECTION 207/223(F) PURSUANT TO SECTION 223(A) (7) OF THE NATIONAL HOUSING ACT, AS AMENDED AND THE REGULATIONS PUBLISHED THEREUNDER IN EFFECT ON DECEMBER 30, 2020. THE PROJECT CONSISTS OF 39 HUD- ASSISTED ELDERLY HOUSING UNITS IN CHARLOTTE, NORTH CAROLINA AND IS CURRENTLY OPERATING UNDER THE NAME OF SHARON MANOR HOMES. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. OCCUPANCY IS RESTRICTED BY HUD TO VERY LOW-INCOME HOUSEHOLDS W

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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 (2023)

Revenue Breakdown

Contributions & Grants $212,864
Program Service Revenue $109,606
Investment Income $-3,704
Other Revenue $0
TOTAL REVENUE $318,766

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $267,789
Other Expenses $306,145
TOTAL EXPENSES $306,145

Year-over-Year Comparison

2023 2022 Change
Revenue $318,766 $314,053 +0.0%
Expenses $306,145 $275,678 +0.1%
Net Income $12,621 $38,375 -0.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
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
2
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
OLONDA CARR DIRECTOR N/A
Director
$0 $0 $0
WARREN LASANE DIRECTOR N/A
Director
$0 $0 $0
WALTER R NELSON DIRECTOR N/A
Director
$0 $0 $0
GRACE SOLOMON ASSISTANT SE N/A
Officer Director
$0 $0 $0
DR JAMES THOMAS CHAIR N/A
Officer 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
2024 No data No data No data No data
2023 $318,766 $306,145 $1,183,428 $12,621
2022 $314,053 $275,678 $1,275,725 $38,375
2021 $308,305 $452,209 $1,183,525 $-143,904
2020 $297,356 $264,019 $1,026,958 $33,337
2019 $294,523 $258,199 $1,052,828 $36,324
2018 $289,509 $254,043 $1,079,350 $35,466
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