Tarheel Regional Community Development Corporation

Nonprofit profile at a glance

EIN
800030850
IRS 990-EZ coverage
2024–2024
Forms available
Form 990 2023, Form 990-EZ 2024, Form 990-PF 2020
Location
Henderson, NC, USA
Phone
2529151650
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Support

Reported finances

Revenue
$-1,332
Expenses
$45,025
Assets
$355,706
Liabilities
$23,088

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

Leadership & pay

5 people listed

Executive titles in this filing

  • Gary Morgan (President)

People named in this filing

  • Gary Morgan (President)
  • Chris Morgan (Director)
  • Dennis Tharrington (Direrctor)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Community development in the forms of: 1. Maintenance & provision of low income housing, 2. Direct financial support to low income individuals, 3. Direct financial support to non-profit organizations

What it reported doing in 2024

Provision & maintenance of low income housing. Development & funding of bakeries to feed the hungry abroad. Funding support for alcohol & drug rehabilitation. Funding support to local ministries serving inner city populations. Direct community outreach (events, financial assistance, etc.)

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 86% 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.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 82
  • Sustainability: 30
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.7%; rating input score 72
  • Program expense ratio: 53.3%; rating input score 53

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -3,480.3%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 7.9; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 26.7%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -75.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -19.5% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 71.7% of revenue deployed · 53.3% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $24K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.