HOUSING DEVELOPMENT CORPORATION OF ROCK HILL

EIN: 570931971 501(c)(3) Housing & Shelter

ROCK HILL, SC

Total Revenue
$997,268
Total Expenses
$675,252
Total Assets
$6,312,699
Net Assets
$4,343,777
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
SC
Principal Officer
CORINNE SFERRAZZA
Phone
8033262463
Tax Period
2024-07-01 to 2025-06-30

HOUSING DEVELOPMENT CORPORATION OF ROCK HILL, founded in 1991, is a small nonprofit in the Housing & Shelter sector that reported $997K in total revenue in fiscal year 2024. Revenue fell 23% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $322K, a strong 32% operating margin.

Mission

THE ORGANIZATION HELPS LOW AND MODERATE INCOME PERSONS BECOME HOMEOWNERS BY BUYING HOMES, SELLING THEM TO INCOME-QUALIFIED BUYERS AND REUSING SALES PROCEEDS TO BUILD MORE HOMES. THE ORGANIZATION ALSO CONDUCTS PRE-PURCHASE FINANCIAL COUNSELING AND OFFERS DOWN PAYMENT AND CLOSING COST ASSISTANCE FUNDED BY FEDERAL GRANTS. IT ALSO USES COMMUNITY DEVELOPMENT BLOCK GRANT FUNDING TO REHABILITATE OWNER-OCCUPIED OLDER HOMES.

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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 $777,667
Program Service Revenue $206,287
Investment Income $13,314
Other Revenue $0
TOTAL REVENUE $997,268

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $675,252
Other Expenses $675,252
TOTAL EXPENSES $675,252

Year-over-Year Comparison

2024 2023 Change
Revenue $997,268 $1,289,823 -0.2%
Expenses $675,252 $961,811 -0.3%
Net Income $322,016 $328,012 0.0%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
13
Independent Members
13
Employees
N/A
Volunteers
10

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
$87,753
Total Directors
14
$87,753
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WALTER HARDIN CHAIR N/A
Officer Director
$0 $0 $0
ANNE LAMBERT VICE CHAIR N/A
Officer Director
$0 $0 $0
SANDRA OBOROKUMO MEMBER N/A
Director
$0 $0 $0
SHARON HINES MEMBER N/A
Director
$0 $0 $0
THOMAS ROPER MEMBER N/A
Director
$0 $0 $0
WILL JORDAN MEMBER N/A
Director
$0 $0 $0
DAVID LEGRANDE MEMBER N/A
Director
$0 $0 $0
MARY REID MEMBER N/A
Director
$0 $0 $0
PERRY SUTTON MEMBER N/A
Director
$0 $0 $0
PHYLLIS FICKLING MEMBER N/A
Director
$0 $0 $0
NAOMI CARPENTER MEMBER N/A
Director
$0 $0 $0
BRENT FAULKENBERRY MEMBER N/A
Director
$0 $0 $0
CORINNE SFERRAZZA EXECUTIVE DI 10.00
Officer Director
$0 $0 $87,753
WARREN BAXTER MEMBER 2.00
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
2025 $997,268 $675,252 $6,312,699 $322,016
2024 $1,289,823 $961,811 $4,792,618 $328,012
2023 $1,103,143 $825,057 $5,279,448 $278,086
2022 $1,357,523 $811,360 $5,179,513 $546,163
2021 $2,639,858 $2,449,159 $4,692,396 $190,699
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