Varnville Area Housing Corporation

EIN: 570661836

Varnville, SC

Total Revenue
$531,789
Total Expenses
$736,891
Total Assets
$1,464,222
Net Assets
$1,416,360
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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
1980
Legal Domicile
SC
Phone
8039432959
Tax Period
2022-01-01 to 2022-12-31

Varnville Area Housing Corporation, founded in 1980, is a small nonprofit that reported $532K in total revenue in fiscal year 2022. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $737K exceeded revenue, resulting in a 39% operating deficit.

Mission

Formed to construct and operate an apartment complex of 48 units under Section 89 of National Housing Act.

Program Service Accomplishments

Program 1
Expenses: $418,302

To acquire, construct, provide, and operate rental housing and related facilities suited to the special needs and living requirements of eligible occupants without regard to race, color, creed, or...

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To acquire, construct, provide, and operate rental housing and related facilities suited to the special needs and living requirements of eligible occupants without regard to race, color, creed, or national origin.

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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 (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $531,731
Investment Income $58
Other Revenue $0
TOTAL REVENUE $531,789

Expense Breakdown

Grants Paid $0
Salaries & Benefits $302,746
Fundraising Expenses $0
Program Expenses $418,302
Other Expenses $434,145
TOTAL EXPENSES $736,891

Year-over-Year Comparison

2022 2021 Change
Revenue $531,789 $681,776 -0.2%
Expenses $736,891 $667,092 +0.1%
Net Income $-205,102 $14,684 -15.0%
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

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
4
Independent Members
4
Employees
4
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
1
$119,167
Total Directors
4
$119,167
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Eugene Jenkins Director 40.00
Officer Director
$119,167 $0 $119,167
Peggy Grill Director 1.00
Director
$0 $0 $0
Henry Fields Director 1.00
Director
$0 $0 $0
Daisy Lawton Director 1.00
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 No data No data No data No data
2022 $531,789 $736,891 $1,464,222 $-205,102
2021 $681,776 $667,092 $1,669,286 $14,684
2020 $625,623 $642,382 $1,654,594 $-16,759
2019 $583,090 $664,830 $1,671,045 $-81,740
2018 $645,026 $719,123 $1,769,260 $-74,097
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