WAKE COUNTY OPPORTUNITIES HOUSING CORP DBA HOLLY SPRINGS II APARTMENTS

EIN: 562124379 501(c)(3) Housing & Shelter

RALEIGH, NC

Total Revenue
$303,176
Total Expenses
$377,287
Total Assets
$1,801,643
Net Assets
$-1,793,292
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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
1998
Legal Domicile
NC
Principal Officer
HOWARD PATTERSON
Phone
9198344198
Tax Period
2024-07-01 to 2025-06-30

WAKE COUNTY OPPORTUNITIES HOUSING CORP DBA HOLLY SPRINGS II APARTMENTS, founded in 1998, is a small nonprofit in the Housing & Shelter sector that reported $303K in total revenue in fiscal year 2024. Expenses of $377K exceeded revenue, resulting in a 24% operating deficit.

Mission

THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 40 UNIT APARTMENT COMMUNITY IN HOLLY SPRINGS, NC KNOWN AS HOLLY SPRINGS II APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMEENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 9 PROGRAM OF THE NATIONAL HOUSING ACT.

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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 $147,216
Program Service Revenue $164,234
Investment Income $-9,789
Other Revenue $1,515
TOTAL REVENUE $303,176

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $263,622
Other Expenses $377,287
TOTAL EXPENSES $377,287

Year-over-Year Comparison

2024 2023 Change
Revenue $303,176 $288,926 +0.0%
Expenses $377,287 $369,315 +0.0%
Net Income $-74,111 $-80,389 -0.1%
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
HOWARD PATTERSON CHAIRMAN 0.50
Officer Director
$0 $0 $0
JOHN HEMINGWAY TREASURER 0.50
Officer Director
$0 $0 $0
ROBERT SMITH SECRETARY 0.50
Officer Director
$0 $0 $0
ANTONIA ABRON DIRECTOR 0.50
Director
$0 $0 $0
CRYSTAL BULLOCK DIRECTOR 0.50
Director
$0 $0 $0
ERVIN R BOND DIRECTOR 0.50
Director
$0 $0 $0
FRANCES PULLEY DIRECTOR 0.50
Director
$0 $0 $0
WILLIAM SCOTT DIRECTOR 0.50
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 $303,176 $377,287 $1,801,643 $-74,111
2024 $288,926 $369,315 $1,878,586 $-80,389
2023 $264,242 $354,663 $1,956,982 $-90,421
2022 $241,369 $336,196 $2,046,933 $-94,827
2021 $244,922 $304,034 $2,124,312 $-59,112
2020 $227,768 $305,747 $2,208,313 $-77,979
2019 $221,443 $284,295 $2,264,027 $-62,852
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