ST MARY'S HOUSING II CORP

EIN: 582040774 501(c)(3) Religion

WILMINGTON, NC

Total Revenue
$487,699
Total Expenses
$342,995
Total Assets
$1,049,482
Net Assets
$-1,144,659
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1993
Legal Domicile
NC
Principal Officer
DONN GARVEY JR
Phone
3367650424
Tax Period
2024-07-01 to 2025-06-30

ST MARY'S HOUSING II CORP, founded in 1993, is a small nonprofit in the Religion sector that reported $488K in total revenue in fiscal year 2024. Revenue surged 59% from the prior year, signaling strong growth momentum. The organization ran a surplus of $145K, a strong 30% operating margin.

Mission

THE NOT FOR PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 40 UNIT APARTMENT COMMUNITY IN WILMINGTON, NORTH CAROLINA KNOWN AS HADDEN HALL II APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A PROJECT RENTAL ASSISTANCE CONTRACT (PRAC) WITH HUD PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS).

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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 $349,169
Program Service Revenue $149,362
Investment Income $-13,522
Other Revenue $2,690
TOTAL REVENUE $487,699

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $196,454
Other Expenses $342,995
TOTAL EXPENSES $342,995

Year-over-Year Comparison

2024 2023 Change
Revenue $487,699 $305,837 +0.6%
Expenses $342,995 $342,360 +0.0%
Net Income $144,704 $-36,523 -5.0%
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
12
Independent Members
12
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
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DONN GARVEY JR PRESIDENT 0.50
Officer Director
$0 $0 $0
CHRISTINE MURPHY SECRETARY 0.50
Officer Director
$0 $0 $0
NORD COFINI BOARD MEMBER 0.50
Director
$0 $0 $0
MARTHA HUBBARD BOARD MEMBER 0.50
Director
$0 $0 $0
DIANE MILLER BOARD MEMBER 0.50
Director
$0 $0 $0
TIM LUDGATE BOARD MEMBER 0.50
Director
$0 $0 $0
BOB MACALUSO BOARD MEMBER 0.50
Director
$0 $0 $0
JOHN MURPHY BOARD MEMBER 0.50
Director
$0 $0 $0
THOMAS DAVIS BOARD MEMBER 0.50
Director
$0 $0 $0
PATRICIA GUMBS BOARD MEMBER 0.50
Director
$0 $0 $0
KATHERINE TOMPKINS BOARD MEMBER 0.50
Director
$0 $0 $0
DENNIS SMITH BOARD MEMBER 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
2025 $487,699 $342,995 $1,049,482 $144,704
2024 $305,837 $342,360 $906,239 $-36,523
2023 $275,663 $346,462 $944,331 $-70,799
2022 $265,212 $309,857 $1,008,663 $-44,645
2021 $260,276 $306,445 $1,053,517 $-46,169
2020 $250,444 $296,966 $1,110,649 $-46,522
2019 $286,851 $302,634 $1,147,423 $-15,783
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