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Fair Bluff Housing INC

Tax-deductible

Fair Bluff, NC501(c)(3)HousingEIN 58-1398448Revenue $13K in FY2023

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The corporation was organized to own and operate a 40 unit apartment community in Fair Bluff, NC known as cypress village apartments. IT was organized pursuant to section 202 of the national Housing act and entered into the standard gha regulatory agreements, which govern the operation of the community with the fha section of hud. A Housing assistance payment contract (hap) provides by section 8 program of the national Housing act. The appartment complex was sold during the fiscal year ended 6/30/26 and the contract with hud was closed. Currently the corporation is holding the net proceeds from the sale awaiting to determine the best use of the funds to fulfill its mission.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2023 · 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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average deficit $23K a year · 563% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
15218 mo
of spending, in cash
Looks good: 15218.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13K
×666 vs prior year
Spent
$400
To programs
0%
Net assets
$507K
By yearFY2019–FY2023
Revenue
$13K
FY2023▲ ×666
Revenue by fiscal year
FY2019$0
FY2020$3K
FY2021$19
FY2023$13K
Expenses
$400
FY2023
Expenses by fiscal year
FY2019$105K
FY2020$675
FY2021$0
FY2023$400
Net assets
$507K
FY2023▼ -3%
Net assets by fiscal year
FY2019$519K
FY2020$522K
FY2021$522K
FY2023$507K

From the FY2023 Form 990 (year ending June 2023) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Jul 1980.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $400

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Rev Ray Lundy
Vice President
$0Pt VII · Sec A
Pl Elvington
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Irvin Oliver
Director
$0Pt VII · Sec A
See Fair Bluff 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

Operates affordable housing, then manages sale proceeds for future mission fulfillment.

Provided by the organization

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1 program · in their own filed words · FY2022
01

The corporation was organized to own and operate a 40 unit apartment community in fiar bluff, NC known as cypress village apartments. It was organized pursuant to section 202 of the national housing act and entered into the standard gha regulatory agreements, which govern the operation of the community with the fha section of hud.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $105K · 2018–2018
Fair Bluff United Methodist ChurchFY2018$105,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$13K
Ln 12
Investment incomeLn 3$13K
Money outPt IX
$400
Ln 25
Managementcol C$400
Owns and owesPt X
$507K
net assets · Ln 32
Cash and savingsLn 1–2$507K
Total assetsLn 16$507K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$13K
Total revenueLn 12$13K
Assets in detailPt X, end of year
CashLn 1$1K
SavingsLn 2$506K
Cash and savings togetherLn 1–2$507K
Total assetsLn 16$507K
LiabilitiesLn 26$0
Net assetsLn 32$507K
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 FY23End FY23
Cash and savingsLn 1–2$495K$507K
Total assetsLn 16$495K$507K
LiabilitiesLn 26$0$0
Net assetsLn 32$495K$507K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$400$400
Total functional expensesLn 25$400$0$400$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $13K$400$12K$507K 990 PDF
FY2022 Not on file
FY2021 $19$0$19$522K 990 PDF
FY2020 $3K$675$3K$522K 990 PDF
FY2019 $0$105K−$105K$519K 990 PDF

Want to add your own materials alongside these filings? 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 FY2023 990 (6 parts)
Part I · Summary $12,661 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $86$12,661
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $86$12,661
I-13 Grants and similar amounts paidPrior year $25,000$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 $1,600$400
I-18 Total expensesPrior year $26,600$400
I-19 Revenue less expensesPrior year −$26,514$12,261
Part VI · Governance 4 to look at
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
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 $12,661 across 2 lines filed
VIII-3 Investment incomeExcluded from tax $12,661$12,661
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $12,661$12,661
Part IX · Statement of functional expenses $400 across 1 line filed
IX-11c Accounting feesManagement $400$400
IX-25 Total functional expensesPrograms $0 · Management $400 · Fundraising $0$400
Part X · Balance sheet $507,285 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $1,601$1,202
X-2 Savings and temporary cash investmentsStart of year $493,423$506,083
X-16 Total assetsStart of year $495,024$507,285
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $495,024$507,285
X-33 Total liabilities and net assetsStart of year $495,024$507,285
Part XI · Reconciliation of net assets $507,285 net assets at year end
XI-1 Total revenue$12,661
XI-2 Total expenses$400
XI-3 Revenue less expenses$12,261
XI-4 Net assets at start of year$495,024
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$507,285

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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