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Burlington Homes INC

Tax-deductible

Burlington, NC501(c)(3)HousingEIN 46-2518059Revenue $1.5M in FY2025

On file with the IRSPo Box 2380, 27216-2380 · Burlington, NCTax-exempt since Sep 2014Publicly supported charity — 170(b)(1)(A)(vi)

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To provide housing for low and very low income elderly and disabled persons in a 100-unit apartment complex located in Burlington, NC.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Run by 7 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
5 of 6
filings with a surplus
Average surplus $36K a year · 4% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
20 mo
of spending, in cash
Looks good: 20.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $16K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5.1M
85% of total assets
Concern: liabilities are 85% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
+37% vs prior year
Spent
$1.2M
To programs
87%
Net assets
$926K
By yearFY2020–FY2025
Revenue
$1.5M
FY2025▲ +37%
Tap a bar for its year
Revenue by fiscal year
FY2020$845K
FY2021$884K
FY2022$904K
FY2023$903K
FY2024$1.1M
FY2025$1.5M
Expenses
$1.2M
FY2025▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$797K
FY2022$843K
FY2023$865K
FY2024$1.1M
FY2025$1.2M
Net assets
$926K
FY2025▲ +48%
Tap a bar for its year
Net assets by fiscal year
FY2020$396K
FY2021$482K
FY2022$543K
FY2023$581K
FY2024$628K
FY2025$926K

From the FY2025 Form 990 (year ending September 2025) · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2014.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $1.1M Management & general 13% · $154K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Melinda Freeman
Vice Chair
$0Pt VII · Sec A
Reggie Wilson
Sec/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Burlington Homes 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 apartments for low-income elderly and disabled individuals in Burlington, NC.

Questions for Burlington Homes INC

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Provided by the organization

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1 program · $1.1M · in their own filed words · FY2024
01

To provide affordable housing for low and very low income elderly and disabled persons in a 100 unit apartment complex located in Burlington, NC.

$1.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
Alamance Community & Health Foundation INCFY2021$16K
Total grants receivedfrom 1 funder$16K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$1.0M
Fees for servicesLn 2g$493K
Investment incomeLn 3$12K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.1M
Managementcol C$154K
Owns and owesPt X
$926K
net assets · Ln 32
Cash and savingsLn 1–2$2.0M
Total assetsLn 16$6.0M
LiabilitiesLn 26$5.1M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.0M
Government grantsLn 1e$1.0M
Fees for servicesLn 2g$493K
Investment incomeLn 3$12K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$1.4M
SavingsLn 2$633K
Cash and savings togetherLn 1–2$2.0M
Land, buildings, equipmentLn 10c$3.9M
Total assetsLn 16$6.0M
LiabilitiesLn 26$5.1M
Net assetsLn 32$926K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderSeptember
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$1.6M$2.0M
Land, buildings, equipmentLn 10c$4.1M$3.9M
Total assetsLn 16$5.9M$6.0M
LiabilitiesLn 26$5.3M$5.1M
Net assetsLn 32$628K$926K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$152K$152K
Other employee benefitsLn 9$52K$52K
Management feesLn 11a$102K$102K
Legal feesLn 11b$682$682
Accounting feesLn 11c$22K$22K
Other fees for servicesLn 11g$300K$300K
Advertising and promotionLn 12$589$589
Office expensesLn 13$28K$28K
OccupancyLn 16$95K$95K
InterestLn 20$124K$124K
Depreciation, depletion and amortizationLn 22$244K$244K
InsuranceLn 23$48K$48K
Other expenses (24a–d)Ln 24$38K$38K
All other expensesLn 24e$896$203$693
Total functional expensesLn 25$1.2M$1.1M$154K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.5M$1.2M$299K$926K 990 PDF
FY2024 $1.1M$1.1M$47K$628K 990 PDF
FY2023 $903K$865K$38K$581K 990 PDF
FY2022 $904K$843K$61K$543K 990 PDF
FY2021 $884K$797K$86K$482K 990 PDF
FY2020 $845K$1.2M−$315K$396K 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 (6 parts)
Part I · Summary $1,505,025 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $608,288$1,000,192
I-9 Program service revenuePrior year $482,128$493,174
I-10 Investment incomePrior year $9,936$11,659
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,100,352$1,505,025
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$204,038
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,053,538$1,002,484
I-18 Total expensesPrior year $1,053,538$1,206,522
I-19 Revenue less expensesPrior year $46,814$298,503
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,505,025 across 5 lines filed
VIII-1e Government grants$1,000,192
VIII-1h Total contributions, gifts and grants$1,000,192
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $493,174$493,174
VIII-3 Investment incomeExcluded from tax $11,659$11,659
VIII-12 Total revenueRelated to mission $493,174 · Unrelated business $0 · Excluded from tax $11,659$1,505,025
Part IX · Statement of functional expenses $1,206,522 across 14 lines filed
IX-7 Other salaries and wagesPrograms $151,789$151,789
IX-9 Other employee benefitsPrograms $52,249$52,249
IX-11a Management feesManagement $101,590$101,590
IX-11b Legal feesManagement $682$682
IX-11c Accounting feesManagement $22,118$22,118
IX-11g Other fees for servicesPrograms $299,702$299,702
IX-12 Advertising and promotionManagement $589$589
IX-13 Office expensesManagement $28,269$28,269
IX-16 OccupancyPrograms $94,900$94,900
IX-20 InterestPrograms $123,917$123,917
IX-22 Depreciation, depletion and amortizationPrograms $243,559$243,559
IX-23 InsurancePrograms $48,306$48,306
IX-24 Other expenses (24a–d)Programs $37,956$37,956
IX-24e All other expensesPrograms $203 · Management $693$896
IX-25 Total functional expensesPrograms $1,052,581 · Management $153,941 · Fundraising $0$1,206,522
Part X · Balance sheet $6,047,843 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $1,037,983$1,411,600
X-2 Savings and temporary cash investmentsStart of year $603,564$632,821
X-4 Accounts receivableStart of year $10,002$62,783
X-8 Inventories for sale or useStart of year $14,276$24,217
X-9 Prepaid expenses and deferred chargesStart of year $9,968$9,084
X-10c Land, buildings and equipment, netStart of year $4,133,619$3,907,338
X-16 Total assetsStart of year $5,890,578$6,047,843
X-17 Accounts payable and accrued expensesStart of year $87,631$101,850
X-19 Deferred revenueStart of year $833$1,671
X-25 Other liabilitiesStart of year $22,900$2,692
X-26 Total liabilitiesStart of year $5,262,751$5,121,513
X-27 Net assets without donor restrictionsStart of year $627,827$926,330
X-32 Total net assets or fund balancesStart of year $627,827$926,330
X-33 Total liabilities and net assetsStart of year $5,890,578$6,047,843
Part XI · Reconciliation of net assets $926,330 net assets at year end
XI-1 Total revenue$1,505,025
XI-2 Total expenses$1,206,522
XI-3 Revenue less expenses$298,503
XI-4 Net assets at start of year$627,827
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$926,330

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

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