ASHEVILLE ASSISTED HOUSING INC

EIN: 561478458 501(c)(3) Housing & Shelter

ASHEVILLE, NC

Total Revenue
$2,430,435
Total Expenses
$1,978,021
Total Assets
$5,722,144
Net Assets
$5,379,765
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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
RAYNETTA WATERS
Phone
8282581222
Tax Period
2023-01-01 to 2023-12-31

ASHEVILLE ASSISTED HOUSING INC, founded in 1985, is a community nonprofit in the Housing & Shelter sector that reported $2.4M in total revenue in fiscal year 2023. The organization ran a surplus of $452K, a strong 19% operating margin.

Mission

PROVISION OF AFFORDABLE HOUSING FOR LOW INCOME ELDERLY

Program Service Accomplishments

Program 1
Expenses: $1,833,097 Revenue: $887,382

PROVISION OF SUBSIDIZED AFFORDABLE HOUSING FOR LOW INCOME ELDERLY AND DISABLED FAMILIES. THE CORPORATION IS A DISCRETE COMPONENT UNIT AND AFFILIATE OF THE HOUSING AUTHORITY OF THE CITY OF ASHEVILLE...

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PROVISION OF SUBSIDIZED AFFORDABLE HOUSING FOR LOW INCOME ELDERLY AND DISABLED FAMILIES. THE CORPORATION IS A DISCRETE COMPONENT UNIT AND AFFILIATE OF THE HOUSING AUTHORITY OF THE CITY OF ASHEVILLE, A NOT-FOR-PROFIT PUBLIC HOUSING AGENCY ORGANIZED UNDER NC LAW. THE HOUSING AUTHORITY PROVIDES MANAGEMENT OVERSIGHT OF THE COMPONENT UNIT AND, WITH APPROVAL FROM THE BOARD OF DIRECTORS AFTER BUDGETING FOR NEEDED REINVESTMENTS AND REPLACEMENTS, RECEIVES NET REVENUE DISTRIBUTIONS FROM THE COMPONENT UNIT TO BE USED IN THE HOUSING AUTHORITY'S OTHER LOW-INCOME AFFORDABLE HOUSING ACTIVITIES.

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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 $1,543,053
Program Service Revenue $879,152
Investment Income $0
Other Revenue $8,230
TOTAL REVENUE $2,430,435

Expense Breakdown

Grants Paid $0
Salaries & Benefits $357,229
Fundraising Expenses $0
Program Expenses $1,833,097
Other Expenses $1,620,792
TOTAL EXPENSES $1,978,021

Year-over-Year Comparison

2023 2022 Change
Revenue $2,430,435 $2,271,585 +0.1%
Expenses $1,978,021 $2,746,441 -0.3%
Net Income $452,414 $-474,856 -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

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
2
Employees
17
Volunteers
2

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
$172,676
Total Directors
3
$172,676
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MONIQUE PIERRE SECRETARY-TREASURER 0.50
Officer Director
$0 $25,913 $172,676
RAYNETTA WATERS PRESIDENT 0.10
Officer Director
$0 $0 $0
ROY HARRIS VICE PRESIDENT 0.10
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 $2,430,435 $1,978,021 $5,722,144 $452,414
2022 $2,271,585 $2,746,441 $5,051,414 $-474,856
2021 $2,179,210 $3,255,618 $5,643,953 $-1,076,408
2020 $2,227,521 $1,887,068 $6,701,959 $340,453
2019 $2,178,895 $1,739,368 $6,025,976 $439,527
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