Spruce Pine Housing INC

Tax-deductible

Spruce Pine, NC501(c)(3)HousingEIN 31-1800089

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To provide Housing facilities for elderly and handicapped persons and services specifically designed to meet their physical and emotional needs. The organization owns and operates a 25 unit apartment complex for low-income elderly residents.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $60K a year · 54% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$68K
14% of total assets
Looks good: liabilities are 14% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$126K
+6% vs prior year
Spent
$237K
To programs
100%
Net assets
$426K
By yearFY2021–FY2025
Revenue
$126K
FY2025▲ +6%
Revenue by fiscal year
FY2021$100K
FY2022$105K
FY2023$111K
FY2024$119K
FY2025$126K
Expenses
$237K
FY2025▲ +49%
Expenses by fiscal year
FY2021$150K
FY2022$150K
FY2023$166K
FY2024$159K
FY2025$237K
Net assets
$426K
FY2025▼ -21%
Net assets by fiscal year
FY2021$677K
FY2022$632K
FY2023$577K
FY2024$537K
FY2025$426K

From the FY2025 Form 990 (year ending June 2025) · see the original

Is it real?

Yes. Exemption reinstated (2010-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Dec 2019.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $237K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Executive Di
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Spruce Pine Housing INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers housing and support services for low-income elderly and handicapped individuals.

Provided by the organization

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1 program service account for $237K of program spending, described in the organization's own filed words · FY2024.
01

The organization owns and operates a 25 unit apartment complex for low income elderly residents. Funding for the project is made available through a section 202 direct loan. The project is also subject to project rental assistance contracts (prac) with the us department of housing and urban development (hud).

$237Kprogram expense

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By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$126K
Ln 12
Fees for servicesLn 2g$126K
Investment incomeLn 3$568
Money outPt IX
$237K
Ln 25
Programscol B$237K
Owns and owesPt X
$426K
net assets · Ln 32
Cash and savingsLn 1–2$6K
Total assetsLn 16$494K
LiabilitiesLn 26$68K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$126K
Investment incomeLn 3$568
Total revenueLn 12$126K
Assets in detailPt X, end of year
CashLn 1$6K
Cash and savings togetherLn 1–2$6K
Land, buildings, equipmentLn 10c$395K
Other assetsLn 15$90K
Total assetsLn 16$494K
LiabilitiesLn 26$68K
Net assetsLn 32$426K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$1K$6K
Land, buildings, equipmentLn 10c$457K$395K
Total assetsLn 16$601K$494K
LiabilitiesLn 26$64K$68K
Net assetsLn 32$537K$426K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$24K$24K
Accounting feesLn 11c$7K$7K
Advertising and promotionLn 12$300$300
Office expensesLn 13$2K$2K
OccupancyLn 16$21K$21K
Depreciation, depletion and amortizationLn 22$62K$62K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$117K$117K
Total functional expensesLn 25$237K$237K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $126K$237K−$111K$426K 990 PDF
FY2024 $119K$159K−$40K$537K 990 PDF
FY2023 $111K$166K−$55K$577K 990 PDF
FY2022 $105K$150K−$45K$632K 990 PDF
FY2021 $100K$150K−$50K$677K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $126,236 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $125,668$125,668
VIII-3 Investment incomeExcluded from tax $568$568
VIII-12 Total revenueRelated to mission $125,668 · Excluded from tax $568$126,236
Part IX · Statement of functional expenses $236,866 across 8 lines filed
IX-11a Management feesPrograms $23,884$23,884
IX-11c Accounting feesPrograms $6,715$6,715
IX-12 Advertising and promotionPrograms $300$300
IX-13 Office expensesPrograms $1,600$1,600
IX-16 OccupancyPrograms $20,792$20,792
IX-22 Depreciation, depletion and amortizationPrograms $62,263$62,263
IX-23 InsurancePrograms $4,751$4,751
IX-24 Other expenses (24a–d)Programs $116,561$116,561
IX-25 Total functional expensesPrograms $236,866 · Management $0 · Fundraising $0$236,866
Part X · Balance sheet $493,793 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,429$6,141
X-4 Accounts receivableStart of year $14$233
X-9 Prepaid expenses and deferred chargesStart of year $2,340$2,411
X-10c Land, buildings and equipment, netStart of year $456,799$394,537
X-15 Other assetsStart of year $140,265$90,471
X-16 Total assetsStart of year $600,847$493,793
X-17 Accounts payable and accrued expensesStart of year $55,330$59,528
X-19 Deferred revenueStart of year $2,215$1,911
X-26 Total liabilitiesStart of year $64,197$67,773
X-27 Net assets without donor restrictionsStart of year $536,650$426,020
X-32 Total net assets or fund balancesStart of year $536,650$426,020
X-33 Total liabilities and net assetsStart of year $600,847$493,793
Part XI · Reconciliation of net assets $426,020 net assets at year end
XI-1 Total revenue$126,236
XI-2 Total expenses$236,866
XI-3 Revenue less expenses−$110,630
XI-4 Net assets at start of year$536,650
XI-10 Net assets at end of year$426,020

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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