COSMO & LEWIS ESTATES INC C/O PENDERGRAPH MANAGEMENT

EIN: 581743798 501(c)(3)

RALEIGH, NC

Total Revenue
$114,949
Total Expenses
$146,174
Total Assets
$184,397
Net Assets
$-95,960
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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
1986
Legal Domicile
NC
Principal Officer
BETTIE BRANCH
Phone
9197550558
Tax Period
2023-01-01 to 2023-12-31

COSMO & LEWIS ESTATES INC C/O PENDERGRAPH MANAGEMENT, founded in 1986, is a small nonprofit that reported $115K in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Expenses of $146K exceeded revenue, resulting in a 27% operating deficit.

Mission

THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 14 UNIT APARTMENT COMMUNITY FOR THE ELDERLY, HANDICAPPED AND DISABLED IN RALEIGH, NC KNOWN AS COSMO AND LEWIS ESTATES. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD HUD REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HAP CONTRACT PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) UNDER THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT, WHILE HUD PAYS THE BALANCE OF THE RENT.

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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 (2023)

Revenue Breakdown

Contributions & Grants $85,216
Program Service Revenue $29,636
Investment Income $6
Other Revenue $91
TOTAL REVENUE $114,949

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $120,782
Other Expenses $146,174
TOTAL EXPENSES $146,174

Year-over-Year Comparison

2023 2022 Change
Revenue $114,949 $126,618 -0.1%
Expenses $146,174 $111,114 +0.3%
Net Income $-31,225 $15,504 -3.0%
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
6
Independent Members
6
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
2
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALBERT PURCELL DIRECTOR 0.50
Director
$0 $0 $0
BETTIE BRANCH SECRETARY 0.50
Officer Director
$0 $0 $0
VELECHIA EGERTON-STEGALL TREASURER 0.50
Officer Director
$0 $0 $0
GENE MCCABE TRUSTEE 0.50
Director
$0 $0 $0
MALINDA MCCULLERS TRUSTEE 0.50
Director
$0 $0 $0
CLIFTON WINSTON TRUSTEE 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
2024 No data No data No data No data
2023 $114,949 $146,174 $184,397 $-31,225
2022 $126,618 $111,114 $199,193 $15,504
2021 $130,013 $93,514 $186,915 $36,499
2020 $126,773 $116,452 $193,216 $10,321
2019 $123,301 $110,664 $213,338 $12,637
2018 $120,762 $122,405 $226,772 $-1,643
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