WILMINGTON HOUSING FINANCE & DEVELOPMENT INC

EIN: 581492427 501(c)(3)

WILMINGTON, NC

Total Revenue
$317,108
Total Expenses
$298,949
Total Assets
$1,514,511
Net Assets
$1,351,092
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
NC
Principal Officer
BETTY BISBEE
Phone
9107625004
Tax Period
2021-07-01 to 2022-06-30

WILMINGTON HOUSING FINANCE & DEVELOPMENT INC, founded in 1982, is a small nonprofit that reported $317K in total revenue in fiscal year 2021. Revenue fell 55% from the prior year — a significant decline worth monitoring. Expenses of $299K left a modest 6% surplus.

Mission

TO PROVIDE FUNDS AND ASSISTANCE FOR THE PURCHASE, ACQUISTION, IMPROVEMENT, RENOVATION, AND SALE OF MODERATE AND LOW-INCOME HOUSING.

Program Service Accomplishments

Program 1
Expenses: $105,682 Revenue: $46,000

DEVELOPMENT OF LOW INCOME HOUSING PROJECTS. MODERATE AND LOW INCOME FAMILIES WILL OCCUPY THESE HOMES UPON COMPLETION.

Program 2
Expenses: $149,519 Revenue: $271,059

PROPERTY MANAGEMENT SERVICES PROVIDED TO FOUR AFFORDABLE HOUSING APARTMENT COMPLEXES.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $317,059
Investment Income $49
Other Revenue $0
TOTAL REVENUE $317,108

Expense Breakdown

Grants Paid $0
Salaries & Benefits $182,697
Fundraising Expenses $0
Program Expenses $255,201
Other Expenses $116,252
TOTAL EXPENSES $298,949

Year-over-Year Comparison

2021 2020 Change
Revenue $317,108 $703,166 -0.5%
Expenses $298,949 $279,530 +0.1%
Net Income $18,159 $423,636 -1.0%
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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
7
Employees
10
Volunteers
7

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
2
$60,008
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAWN FINIFF ACTING CHAIR 1.00
Officer Director
$0 $0 $0
DENVER BROWN DIRECTOR 1.00
Director
$0 $0 $0
JIMMY HYATT DIRECTOR 1.00
Director
$0 $0 $0
PAM KESLER DIRECTOR 1.00
Director
$0 $0 $0
HARRY STEELE JR DIRECTOR 1.00
Director
$0 $0 $0
RANDY SMITH DIRECTOR 1.00
Director
$0 $0 $0
LONNIE WILLIAMS DIRECTOR 1.00
Director
$0 $0 $0
BETTY R BISBEE EXECUTIVE DIRECTOR 40.00
Officer
$60,008 $0 $60,008
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
2022 $317,108 $298,949 $1,514,511 $18,159
2021 $703,166 $279,530 $1,508,814 $423,636
2020 $364,560 $290,122 $1,098,280 $74,438
2019 $325,354 $303,188 $1,038,813 $22,166
2018 $342,742 $273,794 $1,028,985 $68,948
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