2024-08-07T16:22:35-04:00 2023-09-30 561425237 O DOUGLAS COVINGTON 1031 SUMMIT AVE STE 2E1 GREENSBORO NC 27405 990 2022-10-01 581691946 SHEPHERD HOUSING INC SHEP 3365459000 C/O BEACON MGT 408 BATTLEGROUND AVE GREENSBORO NC 27401 MARTHA STEWART PRESIDENT 3365459000 2024-06-15 true false O DOUGLAS COVINGTON P01266208 3362725618 2024-08-05 2022 2024-08-08 14:25:15Z MARTHA STEWART 241201 false X N/A X THE PROJECT WAS FORMED AS A NON-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF NORTH CAROLINA FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. IN APRIL OF 2006, THE PROJECT REFINANCED ITS HUD SECTION 202 LOAN WITH ONE COVERED BY HUD MORTGAGE INSURANCE UNDER SECTION 223(F) OF THE NATIONAL HOUSING ACT. THE PROJECT CONSISTS OF 20 HUD-ASSISTED HOUSING UNITS IN GREENSBORO, NORTH CAROLINA AND IS CURRENTLY OPERATING UNDER THE NAME OF SHEPHERD HOUSE. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. OCCUPANCY IS RESTRICTED BY HUD TO VERY LOW-INCOME ADULTS WITH DISABILITIES. A SIGNIFICANT PORTION OF THE PROJECTS RENTAL INCOME IS RECEIVED FROM HUD UNDER A SECTION 8 PROJECT ASSISTANCE CONTRACT (PAC). THE PROJECTS NONMAJOR PROGRAM IS ITS SECTION 8 RENT SUBSIDY. FINANCING WAS PROVIDED BY A HUD INSURED LOAN UNDER SECTION 207 PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT. THE PROJECTS MORTGAGE 6 6 0 0 0 239713 239829 45 1372 0 239758 241201 0 0 0 0 0 232958 225511 232958 225511 6800 15690 606931 590584 828142 796105 -221211 -205521 X THE PROJECT WAS FORMED AS A NON-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF NORTH CAROLINA FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. IN APRIL OF 2006, THE PROJECT REFINANCED ITS HUD SECTION 202 LOAN WITH ONE COVERED BY HUD MORTGAGE INSURANCE UNDER SECTION 223(F) OF THE NATIONAL HOUSING ACT. THE PROJECT CONSISTS OF 20 HUD-ASSISTED HOUSING UNITS IN GREENSBORO, NORTH CAROLINA AND IS CURRENTLY OPERATING UNDER THE NAME OF SHEPHERD HOUSE. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. OCCUPANCY IS RESTRICTED BY HUD TO VERY LOW-INCOME ADULTS WITH DISABILITIES. A SIGNIFICANT PORTION OF THE PROJECTS RENTAL INCOME IS RECEIVED FROM HUD UNDER A SECTION 8 PROJECT ASSISTANCE CONTRACT (PAC). THE PROJECTS NONMAJOR PROGRAM IS ITS SECTION 8 RENT SUBSIDY. FINANCING WAS PROVIDED BY A HUD INSURED LOAN UNDER SECTION 207 PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT. THE PROJECTS MORTGAGE false false 225511 239829 FEDERALLY SUBSIDIZED LOW INCOME HOUSING FOR THE HANDICAPPED. 225511 true false false false false false false false false false true false false true true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false 5 0 0 false false false false false false false false X 6 6 false true false false false false false true true false false false false false false false false false NC BEACON MANAGEMENT CORPORATION 3365459000 408 BATTLEGROUND AVENUE GREENSBORO NC 27401 X ELLEN COCHRAN BOARD MEMBER X 0 0 0 DIANNE F HERTZFELD ASST. SECRET X X 0 0 0 FLETCHER MCLLWAIN DIRECTOR X 0 0 0 REV AARON W MOSS VICE-PRESIDE X X 0 0 0 MARTHA STEWART PRESIDENT X X 0 0 0 BARBARA STRINGFELLOW TREASURER X 0 0 0 false false false APARTMENTS GREENSBORO NC 239829 239829 239829 1372 1372 241201 241201 9167 9167 46428 46428 30277 30277 27030 27030 SALARIES AND WAGES 43558 43558 REPAIRS 30934 30934 MANAGEMENT FEES 11088 11088 OFFICE EXPENSES 7619 7619 19410 19410 225511 225511 0 0 9371 10822 8579 7346 964 868 8324 8404 1095922 762510 358305 333412 40563 38425 180825 191307 606931 590584 9635 7574 160 386 813203 782684 5144 5461 828142 796105 X -221211 -205521 -221211 -205521 606931 590584 15690 X false true X false true true X 225477 225234 234186 239713 239829 1164439 225477 225234 234186 239713 239829 1164439 1164439 87 68 42 45 1372 1614 1166053 0.99860 0.99970 X 141175 141175 898912 709195 189717 55835 53315 2520 333412 RESERVE FOR REPLACEMENTS 116733 DEBT SERVICE ESCROW 73349 RESIDUAL RECEIPTS 1225 191307 TENANT SECURITY DEPOSITS 5461 5461 X 241201 241201 241201 225511 225511 225511 SCHEDULE D, PAGE 3, PART X INCOME TAXES: THE PROJECT HAS BEEN CLASSIFIED AS AN OTHER-THAN PRIVATE FOUNDATION AND IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE PROJECT IS SUBJECT TO A TAX ON INCOME FROM ANY UNRELATED BUSINESS. FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2023, THE PROJECT HAD NO UNRELATED BUSINESS INCOME. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE PROJECT HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND ALL STATE JURISDICTIONS WHERE IT OPERATES. THE PROJECT BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE PROJECTS FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE PROJECT HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2023. THE PROJECT IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE PROJECT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2020. FORM 990 - ORGANIZATION'S MISSION THE PROJECT WAS FORMED AS A NON-PROFIT CORPORATION UNDER THE LAWS OF THE STATE OF NORTH CAROLINA FOR THE PURPOSE OF CONSTRUCTING AND OPERATING A RENTAL HOUSING PROJECT UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. IN APRIL OF 2006, THE PROJECT REFINANCED ITS HUD SECTION 202 LOAN WITH ONE COVERED BY HUD MORTGAGE INSURANCE UNDER SECTION 223(F) OF THE NATIONAL HOUSING ACT. THE PROJECT CONSISTS OF 20 HUD-ASSISTED HOUSING UNITS IN GREENSBORO, NORTH CAROLINA AND IS CURRENTLY OPERATING UNDER THE NAME OF SHEPHERD HOUSE. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. OCCUPANCY IS RESTRICTED BY HUD TO VERY LOW-INCOME ADULTS WITH DISABILITIES. A SIGNIFICANT PORTION OF THE PROJECTS RENTAL INCOME IS RECEIVED FROM HUD UNDER A SECTION 8 PROJECT ASSISTANCE CONTRACT (PAC). THE PROJECTS NONMAJOR PROGRAM IS ITS SECTION 8 RENT SUBSIDY. FINANCING WAS PROVIDED BY A HUD INSURED LOAN UNDER SECTION 207 PURSUANT TO SECTION 223(F) OF THE NATIONAL HOUSING ACT. THE PROJECTS MORTGAGE IS ITS MAJOR HUD PROGRAM. FORM 990, PAGE 6, PART VI, LINE 3 THE PROJECT PAYS A MANAGEMENT FEE EQUAL TO 6.006% OF RENT AND OTHER INCOME COLLECTED TO BEACON MANAGEMENT CORPORATION. THE PROJECT ALSO REIMBURSES BEACON MANAGMENT CORPORATION FRONT LINE ACCOUNTING AND ADMINISTRATIVE EXPENSES. THIS REIMBURSEMENT AMOUNTED TO 4,667 FOR THE YEAR ENDED SEPTEMBER 30, 2023. FORM 990, PAGE 6, PART VI, LINE 11B NO REVIEW WAS OR WILL BE CONDUCTED. FORM 990, PAGE 6, PART VI, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC