FAIR BLUFF HOUSING INC (EIN 581398448) - Form 990 Financial Analysis & Trantor Score

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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

1981

Legal Domicile

Principal Officer

CARL W MEARES JR

Phone

9106497091

Tax Period

2022-07-01 to 2023-06-30

FAIR BLUFF HOUSING INC, founded in 1981, is a micro nonprofit in the Housing & Shelter sector that reported $13K in total revenue in fiscal year 2022. Revenue surged 14622% from the prior year, signaling strong growth momentum. The organization ran a surplus of $12K, a strong 97% operating margin.

Mission

THE CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 40 UNIT APARTMENT COMMUNITY IN FAIR BLUFF, NC KNOWN AS CYPRESS VILLAGE APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AND ENTERED INTO THE STANDARD GHA REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY WITH THE FHA SECTION OF HUD. A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP) PROVIDES BY SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT. THE APPARTMENT COMPLEX WAS SOLD DURING THE FISCAL YEAR ENDED 6/30/26 AND THE CONTRACT WITH HUD WAS CLOSED. CURRENTLY THE CORPORATION IS HOLDING THE NET PROCEEDS FROM THE SALE AWAITING TO DETERMINE THE BEST USE OF THE FUNDS TO FULFILL ITS MISSION.

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $12,661

Other Revenue $0

TOTAL REVENUE $12,661

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $400

TOTAL EXPENSES $400

Year-over-Year Comparison

	2022	2021	Change
Revenue	$12,661	$86	+146.2%
Expenses	$400	$26,600	-1.0%
Net Income	$12,261	$-26,514	-1.5%

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

Governance

Voting Members

N/A

Independent Members

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARL W MEARES JR	PRESIDENT	0.50	Officer Director	$0	$0	$0
REV RAY LUNDY	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
PL ELVINGTON	DIRECTOR	0.50	Director	$0	$0	$0
WILLARD SMALL	DIRECTOR	0.50	Director	$0	$0	$0
IRVIN OLIVER	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
2023	$12,661	$400	$507,285	$12,261
2022	$86	$26,600	$495,024	$-26,514
2021	$19	No data	$521,538	No data
2020	$3,318	$675	$521,519	$2,643
2019	No data	$105,000	$518,876	No data
2018	$755	$105,000	$518,876	$-104,245

FAIR BLUFF HOUSING INC