philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Glover Plaza INC

IRS exemption revoked

Wilmington, NCUnknown exempt organizationEIN 56-1779955Revenue $408K in FY2022

On file with the IRSPo Box 899 · Wilmington, NC

Tell your story. Claim this org

To provide low and moderate income housing.

70¢ of each $1 spent went to programs.
Run by 9 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 3
filings with a surplus
Average deficit $49K a year · 12% of revenue · last 3 filings
Concern: a surplus in 0 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
24 mo
of spending, in cash
Looks good: 23.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$90K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$408K
-2% vs prior year
Spent
$526K
To programs
70%
Net assets
$1.7M
By yearFY2020–FY2022
Revenue
$408K
FY2022▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2020$435K
FY2021$415K
FY2022$408K
Expenses
$526K
FY2022▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$437K
FY2021$442K
FY2022$526K
Net assets
$1.7M
FY2022▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$1.8M
FY2022$1.7M

From the FY2022 Form 990 (year ending March 2022) · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on August 15, 2025

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2022.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $368K Management & general 30% · $158K

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

Something off? Claim to fix it

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Lee Backston
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Nancy Guyton
Director
$0Pt VII · Sec A
Joan Johnson
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Bryan Greene
Director
$0Pt VII · Sec A
See Glover Plaza INC executive salaries →

On this list? Claim this org

Something off? Claim to fix it

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

Builds and manages affordable homes for low and moderate-income families.

Questions for Glover Plaza INC

Tap to ask. Glover Plaza INC sees how many people are interested.

Your first name shows with your question. Glover Plaza INC answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $368K · in their own filed words · FY2021
01

Provides rental units to qualified low and moderate income elderly and disabled individuals who are eligible for rental assistance by hud section 8 housing assistance payment programs. The development has 75 units.

$368Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$408K
Ln 12
Fees for servicesLn 2g$407K
Investment incomeLn 3$304
Money outPt IX
$526K
Ln 25
Programscol B$368K
Managementcol C$158K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$1.0M
Total assetsLn 16$1.7M
LiabilitiesLn 26$90K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$407K
Investment incomeLn 3$304
Total revenueLn 12$408K
Assets in detailPt X, end of year
SavingsLn 2$1.0M
Cash and savings togetherLn 1–2$1.0M
Land, buildings, equipmentLn 10c$667K
Other assetsLn 15$19K
Total assetsLn 16$1.7M
LiabilitiesLn 26$90K
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$998K$1.0M
Land, buildings, equipmentLn 10c$788K$667K
Total assetsLn 16$1.8M$1.7M
LiabilitiesLn 26$72K$90K
Net assetsLn 32$1.8M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$25K$25K
Pension plan contributionsLn 8$21K$11K$10K
Other employee benefitsLn 9$1K$1K
Management feesLn 11a$37K$37K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$14K$14K
Advertising and promotionLn 12$5$5
Office expensesLn 13$54K$54K
OccupancyLn 16$218K$218K
TravelLn 17$86$86
Depreciation, depletion and amortizationLn 22$120K$120K
InsuranceLn 23$16K$16K
All other expensesLn 24e$17K$17K
Total functional expensesLn 25$526K$368K$158K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest Viewing $408K$526K−$118K$1.7M 990 PDF
FY2021 $415K$442K−$27K$1.8M 990 PDF
FY2020 $435K$437K−$3K$1.8M 990 PDF

More to add? Claim this org

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 FY2022 990 (6 parts)
Part I · Summary $407,716 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $414,971$407,412
I-10 Investment incomePrior year $285$304
I-11 Other revenuePrior year $11$0
I-12 Total revenuePrior year $415,267$407,716
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 $79,304$47,557
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $363,163$478,476
I-18 Total expensesPrior year $442,467$526,033
I-19 Revenue less expensesPrior year −$27,200−$118,317
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $407,716 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $407,412$407,412
VIII-3 Investment incomeExcluded from tax $304$304
VIII-12 Total revenueRelated to mission $407,412 · Unrelated business $0 · Excluded from tax $304$407,716
Part IX · Statement of functional expenses $526,033 across 13 lines filed
IX-7 Other salaries and wagesManagement $24,745$24,745
IX-8 Pension plan contributionsPrograms $11,410 · Management $9,919$21,329
IX-9 Other employee benefitsManagement $1,483$1,483
IX-11a Management feesManagement $36,970$36,970
IX-11b Legal feesPrograms $2,690$2,690
IX-11c Accounting feesManagement $14,139$14,139
IX-12 Advertising and promotionManagement $5$5
IX-13 Office expensesManagement $54,036$54,036
IX-16 OccupancyPrograms $217,973$217,973
IX-17 TravelPrograms $86$86
IX-22 Depreciation, depletion and amortizationPrograms $120,178$120,178
IX-23 InsurancePrograms $15,858$15,858
IX-24e All other expensesManagement $16,541$16,541
IX-25 Total functional expensesPrograms $368,195 · Management $157,838 · Fundraising $0$526,033
Part X · Balance sheet $1,741,633 assets, 15 lines filed
X-2 Savings and temporary cash investmentsStart of year $997,845$1,033,913
X-4 Accounts receivableStart of year $8,720$3,319
X-8 Inventories for sale or useStart of year $15,421$5,153
X-9 Prepaid expenses and deferred chargesStart of year $13,031$12,930
X-10c Land, buildings and equipment, netStart of year $787,571$667,393
X-15 Other assetsStart of year $18,926$18,925
X-16 Total assetsStart of year $1,841,514$1,741,633
X-17 Accounts payable and accrued expensesStart of year $22,167$53,363
X-19 Deferred revenueStart of year $12,297$190
X-25 Other liabilitiesStart of year $37,311$36,658
X-26 Total liabilitiesStart of year $71,775$90,211
X-27 Net assets without donor restrictionsStart of year $898,622$780,305
X-28 Net assets with donor restrictionsStart of year $871,117$871,117
X-32 Total net assets or fund balancesStart of year $1,769,739$1,651,422
X-33 Total liabilities and net assetsStart of year $1,841,514$1,741,633
Part XI · Reconciliation of net assets $1,651,422 net assets at year end
XI-1 Total revenue$407,716
XI-2 Total expenses$526,033
XI-3 Revenue less expenses−$118,317
XI-4 Net assets at start of year$1,769,739
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,651,422

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.