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Wfeh Incorporated

Tax-deductible

Raleigh, NC501(c)(3)Since 1995Human ServicesEIN 56-1930136Revenue $324K in FY2025

On file with the IRSPo Box 2185, 27602-2185 · Raleigh, NCTax-exempt since Aug 1995Publicly supported — 509(a)(2)

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The not for profit corporation was organized to develop, own and operate a 41 unit apartment community in wake forest, NC known as turnberry 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 agreement (prac) with hud provides rent assistance for low income families (or persons).

501(c)(3) charity; gifts are tax-deductible.
73¢ 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 $44K a year · 15% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.9M
208% of total assets
Concern: liabilities are 208% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$324K
+5% vs prior year
Spent
$362K
To programs
73%
Net assets
−$1.5M
By yearFY2021–FY2025
Revenue
$324K
FY2025▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2021$280K
FY2022$283K
FY2023$310K
FY2024$308K
FY2025$324K
Expenses
$362K
FY2025▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2021$356K
FY2022$335K
FY2023$336K
FY2024$336K
FY2025$362K
Net assets
−$1.5M
FY2025▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2021−$1.4M
FY2022−$1.4M
FY2023−$1.5M
FY2024−$1.5M
FY2025−$1.5M

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

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1995.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $266K Management & general 27% · $97K

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

16 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
Jordan Maness
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Sharon Lorden
Vice President
$0Pt VII · Sec A
Natalie Britt
Vice President
$0Pt VII · Sec A
See Wfeh Incorporated 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 15aYes

Programs and updates

Develops, owns, and operates an affordable 41-unit apartment community providing federally assisted housing for low-income families and individuals in Wake Forest, North Carolina.

Questions for Wfeh Incorporated

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Provided by the organization

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1 program · $266K · in their own filed words · FY2024
01

The not for profit corporation was organized to develop, own and operate a 41 unit apartment community in wake forest, NC known as turnberry 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…

$266Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$324K
Ln 12
Gifts and grantsLn 1h$164K
Fees for servicesLn 2g$152K
Investment incomeLn 3$7K
Money outPt IX
$362K
Ln 25
Programscol B$266K
Managementcol C$97K
Owns and owesPt X
−$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$16K
Total assetsLn 16$1.4M
LiabilitiesLn 26$2.9M
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$164K
Government grantsLn 1e$164K
Fees for servicesLn 2g$152K
Investment incomeLn 3$7K
Other incomeLn 4–11$40
Total revenueLn 12$324K
Assets in detailPt X, end of year
CashLn 1$16K
Cash and savings togetherLn 1–2$16K
InvestmentsLn 11–13$196K
Land, buildings, equipmentLn 10c$1.2M
Other assetsLn 15$21K
Total assetsLn 16$1.4M
LiabilitiesLn 26$2.9M
Net assetsLn 32−$1.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$11K$16K
InvestmentsLn 11–13$161K$196K
Land, buildings, equipmentLn 10c$1.2M$1.2M
Total assetsLn 16$1.5M$1.4M
LiabilitiesLn 26$2.9M$2.9M
Net assetsLn 32−$1.5M−$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$42K$42K
Accounting feesLn 11c$7K$7K
Advertising and promotionLn 12$44$44
Office expensesLn 13$6K$6K
Information technologyLn 14$2K$2K
OccupancyLn 16$191K$191K
TravelLn 17$147$147
Conferences, conventions and meetingsLn 19$544$544
Depreciation, depletion and amortizationLn 22$74K$74K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$38K$529$37K
Total functional expensesLn 25$362K$266K$97K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $324K$362K−$38K−$1.5M 990 PDF
FY2024 $308K$336K−$27K−$1.5M 990 PDF
FY2023 $310K$336K−$26K−$1.5M 990 PDF
FY2022 $283K$335K−$51K−$1.4M 990 PDF
FY2021 $280K$356K−$76K−$1.4M 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 $324,126 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $149,630$164,373
I-9 Program service revenuePrior year $154,896$152,349
I-10 Investment incomePrior year $3,014$7,364
I-11 Other revenuePrior year $829$40
I-12 Total revenuePrior year $308,369$324,126
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$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $335,851$362,276
I-18 Total expensesPrior year $335,851$362,276
I-19 Revenue less expensesPrior year −$27,482−$38,150
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $324,126 across 6 lines filed
VIII-1e Government grants$164,373
VIII-1h Total contributions, gifts and grants$164,373
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $152,349$152,349
VIII-3 Investment incomeExcluded from tax $7,364$7,364
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $40$40
VIII-12 Total revenueRelated to mission $152,349 · Unrelated business $0 · Excluded from tax $7,404$324,126
Part IX · Statement of functional expenses $362,276 across 11 lines filed
IX-11a Management feesManagement $42,417$42,417
IX-11c Accounting feesManagement $6,578$6,578
IX-12 Advertising and promotionManagement $44$44
IX-13 Office expensesManagement $6,470$6,470
IX-14 Information technologyManagement $1,760$1,760
IX-16 OccupancyPrograms $190,683$190,683
IX-17 TravelManagement $147$147
IX-19 Conferences, conventions and meetingsManagement $544$544
IX-22 Depreciation, depletion and amortizationPrograms $74,466$74,466
IX-23 InsuranceManagement $1,321$1,321
IX-24 Other expenses (24a–d)Programs $529 · Management $37,317$37,846
IX-25 Total functional expensesPrograms $265,678 · Management $96,598 · Fundraising $0$362,276
Part X · Balance sheet $1,414,688 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $11,104$15,703
X-4 Accounts receivableStart of year $5,706$2,279
X-9 Prepaid expenses and deferred chargesStart of year $12,228$12,608
X-10c Land, buildings and equipment, netStart of year $1,241,605$1,167,142
X-13 Program-related investmentsStart of year $161,134$195,647
X-15 Other assetsStart of year $21,075$21,309
X-16 Total assetsStart of year $1,452,852$1,414,688
X-17 Accounts payable and accrued expensesStart of year $10,527$11,115
X-19 Deferred revenueStart of year $2,746$2,203
X-25 Other liabilitiesStart of year $19,483$19,424
X-26 Total liabilitiesStart of year $2,949,157$2,949,143
X-27 Net assets without donor restrictionsStart of year −$1,496,305−$1,534,455
X-32 Total net assets or fund balancesStart of year −$1,496,305−$1,534,455
X-33 Total liabilities and net assetsStart of year $1,452,852$1,414,688
Part XI · Reconciliation of net assets −$1,534,455 net assets at year end
XI-1 Total revenue$324,126
XI-2 Total expenses$362,276
XI-3 Revenue less expenses−$38,150
XI-4 Net assets at start of year−$1,496,305
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,534,455

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

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