Habitat for Humanity Cabarrus County

Nonprofit profile at a glance

EIN
561678395
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Concord, NC, USA
Phone
7047864001
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Official website

Reported finances

Revenue
$1,128,525
Expenses
$1,426,416
Assets
$4,508,383
Liabilities
$525,139

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • Gina Moore (Vice President)
  • David La Franque (President)

Highest reported compensation

  • Erica Vaughan (Executive Dir.): $101,154 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Guided by God, Habitat Cabarrus transforms lives and our community by uniting all of Cabarrus County around the cause of decent, affordable housing for everyone.

What it reported doing in 2024

During the year 72 low-income families were served through construction services that included 7 new homes and 65 urgent repair projects. Further, maintained interest free mortgages and provided homeowner services to over 80 homeowners. ReStore sales result from donated merchandise contributed by businesses and individuals interested in Habitat's mission. These expenses represent the cost of producing this revenue. The profits from this activity were used to subsidize construction and operating costs during the year.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.1%; rating input score 94
  • Program expense ratio: 79.7%; rating input score 80
  • Fundraising efficiency: $4.38 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -26.4%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 3.16; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 7.1%; rating input score 47; 47th percentile among comparable filings

Growth

  • Program expense growth: 8.8% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 94.1% of revenue deployed · 79.7% of spending went to programs
  • Governance: 17 of 17 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $101K · 14 people listed
  • Highest-paid contractors: 1 contractor listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 15/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.
  • Moderate — Sustainability: Officer compensation ratio scored 47/100.