Habitat for Humanity Cabarrus County

EIN: 561678395 501(c)(3) Housing & Shelter

Concord, NC

Total Revenue
$2,803,627
Total Expenses
$2,570,035
Total Assets
$4,877,038
Net Assets
$4,281,135
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
NC
Principal Officer
Nick Lovelace
Phone
7047864001
Tax Period
2023-07-01 to 2024-06-30

Habitat for Humanity Cabarrus County, founded in 1989, is a community nonprofit in the Housing & Shelter sector that reported $2.8M in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year. Expenses of $2.6M left a modest 8% surplus.

Mission

Guided by God, Habitat Cabarrus transforms lives and our community by uniting all of Cabarrus County around the cause of decent, affordable housing for everyone.

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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 $1,900,600
Program Service Revenue $997,989
Investment Income $23,729
Other Revenue $-118,691
TOTAL REVENUE $2,803,627

Expense Breakdown

Grants Paid $18,000
Salaries & Benefits $631,036
Fundraising Expenses $230,895
Program Expenses $2,224,601
Other Expenses $1,920,999
TOTAL EXPENSES $2,570,035

Year-over-Year Comparison

2023 2022 Change
Revenue $2,803,627 $3,421,670 -0.2%
Expenses $2,570,035 $3,120,255 -0.2%
Net Income $233,592 $301,415 -0.2%
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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Governance

Voting Members
17
Independent Members
17
Employees
20
Volunteers
570

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
6
$113,260
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Bill Shelton CEO 50.00
Officer
$98,229 $15,031 $113,260
Holly Grimsley Director 0.50
Director
$0 $0 $0
Steve Steinbacher Director 0.50
Director
$0 $0 $0
Gina Moore Secretary 0.50
Officer Director
$0 $0 $0
David La Franque II Vice President 0.50
Officer Director
$0 $0 $0
George Wise Director 0.50
Director
$0 $0 $0
Beth Belk Treasurer 0.50
Officer Director
$0 $0 $0
David Haywood Director 0.50
Director
$0 $0 $0
Rev Antonio Johnson Director 0.50
Director
$0 $0 $0
Kenneth Yelton Director 0.50
Director
$0 $0 $0
Dr Kendricks Hooker Director 0.50
Director
$0 $0 $0
Katie Morgan Director 0.50
Director
$0 $0 $0
Dr Steve Ayers Director 0.50
Director
$0 $0 $0
Dr Peter Chikes Director 0.50
Director
$0 $0 $0
Nick Lovelace President 0.50
Officer Director
$0 $0 $0
Audrea Chapman Director 0.50
Director
$0 $0 $0
Jazmin Caldwell Director 0.50
Director
$0 $0 $0
Erica Vaughan Interim ED 0.50
Officer
$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 $2,803,627 $2,570,035 $4,877,038 $233,592
2023 $3,421,670 $3,120,255 $4,818,009 $301,415
2022 $1,386,566 $1,363,157 $4,253,789 $23,409
2021 $1,792,704 $1,982,728 $4,217,860 $-190,024
2020 $1,624,594 $1,461,230 $4,678,498 $163,364
2019 $1,419,365 $1,265,377 $4,599,220 $153,988
2018 $1,794,727 $1,560,043 $4,430,912 $234,684
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