2025-06-26T12:50:39-05:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 227 WEST TRADE STREET SUITE 800 CHARLOTTE NC 28202 990 2023-07-01 561765360 PASSAGE HOME INC PASS 9198340666 PO BOX 28165 RALEIGH NC 27611 CARI BORAM CHIEF EXECUTIVE OFFICER 9198340666 2025-06-23 1 1 KATHRINE A WARLICK P02065266 7049985200 2025-06-23 2023 2025-03-06 01:10:19Z CARI BORAM PO BOX 28165 RALEIGH NC 27611 4392915 0 X WWW.PASSAGEHOME.ORG X 1991 NC TO BREAK THE CYCLE OF POVERTY AND CREATE MULTI-GENERATIONAL SELF-SUFFICIENCY. 18 18 37 300 0 0 3890300 3623595 736739 749324 1149 1614 0 18382 4628188 4392915 1245164 1553666 0 0 1979317 1719295 0 0 1727 1507590 1643827 4732071 4916788 -103883 -523873 10649821 10392237 9181546 9447835 1468275 944402 TO BREAK THE CYCLE OF POVERTY AND CREATE MULTI-GENERATIONAL SELF-SUFFICIENCY FOR THE INDIVIDUALS AND FAMILIES OF WAKE COUNTY BY HELPING THEM ACHIEVE HOUSING AND INCOME SECURITY. 0 0 4859123 1553666 749324 PASSAGE HOME IS WAKE COUNTY'S COMMUNITY ACTION AGENCY AND SUPPORTIVE SERVICES TO VETERAN FAMILIES PROVIDER. PASSAGE HOME WORKS TO PREVENT HOMELESSNESS THROUGH HOUSING STABILIZATION SERVICES; TO INCREASE FAMILY FINANCIAL STABILITY THROUGH WORKFORCE DEVELOPMENT SUPPORT; AND TO MINIMIZE THE TRAUMATIC EFFECTS OF HOMELESSNESS AND POVERTY ON CHILDREN THROUGH INTERVENTIONS TARGETING SOCIAL AND EMOTIONAL DEVELOPMENT. ADDITIONALLY, PASSAGE HOME MANAGES OVER 90 AFFORDABLE HOUSING UNITS IN RALEIGH AND WORKS IN PARTNERSHIP WITH LOCAL STAKEHOLDERS TO FACILITATE THE DEVELOPMENT OF ADDITIONAL AFFORDABLE HOUSING PROJECTS IN OUR COMMUNITY. 4859123 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 142 0 1 37 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 NC X KAREN HARSHMAN 8282051956 PO BOX 28165 RALEIGH NC 27611 CHRIS FOYLES CHAIR 1.00 X X 0 0 0 YASMIN MORTON VICE CHAIR 1.00 X X 0 0 0 MICHELLE CASSELL TREASURER 1.00 X X 0 0 0 EMMA PAUL SECRETARY 1.00 X X 0 0 0 VICKIE ADAMSON DIRECTOR 1.00 X 0 0 0 FRED AIKEN DIRECTOR 1.00 X 0 0 0 SIMON AKHAMIE DIRECTOR 1.00 X 0 0 0 RUSSELL ALLEN DIRECTOR 1.00 X 0 0 0 MANOJ BHATIA DIRECTOR 1.00 X 0 0 0 CORTINA CLARKSON DIRECTOR 1.00 X 0 0 0 DAQUANTA COPELAND DIRECTOR 1.00 X 0 0 0 DEMIAN DELLINGER DIRECTOR 1.00 X 0 0 0 JESSICA GORE DIRECTOR 1.00 X 0 0 0 WANDA HUNTER DIRECTOR 1.00 X 0 0 0 MONIKA JOHNSON-HOSTELER DIRECTOR 1.00 X 0 0 0 JENNIFER LAMPMAN DIRECTOR 1.00 X 0 0 0 JONATHAN MELTON DIRECTOR 1.00 X 0 0 0 LATATIOUS MORRIS DIRECTOR 1.00 X 0 0 0 MOLLY STUART DIRECTOR 1.00 X 0 0 0 SETH FRIEDMAN CEO (THRU 9/8/23) 40.00 X 95013 0 13078 CARI BORAM CEO (AS OF 1/8/24) 40.00 X 0 0 0 95013 0 13078 0 0 0 0 0 3097252 526343 70253 3623595 RENTAL REVENUE 532000 724583 724583 OTHER PROGRAM REVENUE 900099 24741 24741 749324 1614 1614 LOAN FOREGIVENESS 900099 18382 18382 18382 4392915 749324 0 19996 1553666 1553666 95013 92980 2033 1285667 1258151 27516 14456 14220 236 211862 208412 3450 112297 110469 1828 56464 52956 3508 31549 29590 1959 49216 46159 3057 133277 124998 8279 836 836 35839 33278 2561 18540 17592 948 530329 530030 299 4181 4181 423 423 104296 104296 293173 292242 931 87775 87775 OTHER PROGRAM ACTIVITIE 228840 228061 779 VEHICLE AND MAINTENANCE 27488 27207 281 MEMBERSHIP DUES 22221 22221 TRAINING 19380 19380 4916788 4859123 55938 1727 321144 -5537 341871 251655 313498 437538 8981 17038 5000 5000 98208 96411 13636262 4127252 9455312 9509010 105807 81122 10649821 10392237 96515 155913 69361 12941 8907516 9077294 0 100000 108154 101687 9181546 9447835 X 1468275 944402 1468275 944402 10649821 10392237 -523873 0 X 0 1 X 1 1 1 X 3139165 4419647 4644139 3757875 3623595 19584421 3139165 4419647 4644139 3757875 3623595 19584421 19584421 4231 384 76 1149 1614 7454 19591875 3751376 0.99960 0.99940 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 1756017 1756017 10113584 3953831 6159753 42500 42500 0 1724161 130921 1593240 9509010 REFUNDABLE ADVANCES 2728 RENTAL PROPERTY CONTINGENCY 5000 TENANT SAVINGS & SECURITY DEPOSITS 71837 LEASE LIABILITY 22122 101687 X 4392915 0 4392915 0 4392915 4916788 0 4916788 0 4916788 PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE (IRC) AND THE APPLICABLE STATE TAX STATUTES. IN ADDITION, THE CORPORATION QUALIFIES FOR THE CHARITABLE CONTRIBUTIONS DEDUCTION UNDER SECTION 170(B)(1)(A) OF THE IRC. FURTHER, THE CORPORATION HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE IRC. MANAGEMENT HAS EVALUATED THE EFFECT OF THE GUIDANCE PROVIDED BY GAAP ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT BELIEVES THE CORPORATION CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AS OF JUNE 30, 2024. MANAGEMENT HAS EVALUATED ALL OTHER TAX POSITIONS THAT COULD HAVE A SIGNIFICANT IMPACT ON THE CONSOLIDATED FINANCIAL STATEMENTS AND DETERMINED THE CORPORATION HAD NO UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2024. 1 RENTAL & UTILITY ASSISTANCE 547 991613 EMERGENCY ASSISTANCE 168 562053 PART I, LINE 2: RENTAL AND EMERGENCY ASSISTANCE IS PROVIDED TO PARTICIPANTS BASED ON HOUSEHOLD INCOME. INTERNAL MONITORING OCCURS ON A QUARTERLY BASIS. EXTERNAL MONITORING DEPENDS ON SOURCE OF THE GRANT FUNDS AS FOLLOWS: HUD SITE MONITORING VISIT EVERY THREE YEARS ESG ANNUAL SITE MONITORING VISIT CSBG ANNUAL SITE MONITORING VISIT SSVF SITE MONITORING VISIT EVERY TWO YEARS. SCHEDULE I, PAGE 2, PART III RENTAL SUBSIDIES PROVIDED TO FAMILIES. PAYMENTS ARE MADE DIRECTLY TO LANDLORDS OF THE RENTAL PROPERTIES INVOLVED. NO PAYMENTS ARE MADE DIRECTLY TO RECIPIENTS OF THE SUBSIDIES. X 1008 FMV X 2000 FMV X 510 14950 FMV X CHRISTMAS GIFTS 1989 45425 FMV X SCHOOL SUPPLIES 133 6870 FMV 0 0 0 PART I, COLUMN (B): THE ORGANIZATION RECEIVED DONATED FOOD PRODUCTS WORTH $14,950 COMPRISED OF MEALS, TURKEYS, WELCOME BASKETS, AND FOOD BOXES. FORM 990, PART VI, SECTION A, LINE 8B THE GOVERNING BODY DOES NOT DELEGATE AUTHORITY TO ANY COMMITTEES TO ACT ON ITS BEHALF. SUMMARIES OF COMMITTEE MEETINGS ARE SHARED AT FULL BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS GIVEN TO THE GOVERNING BODY FOR APPROVAL OR DISAPPROVAL, AND IF DISAPPROVED, THE REASON FOR DISAPPROVAL MUST BE CITED. THE REASON IS THEN REVIEWED, AND ANY NECESSARY CHANGES ARE MADE. THIS PROCESS IS REPEATED UNTIL A QUORUM OF THE GOVERNING BODY APPROVES THE FORM. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND EMPLOYEES ARE ASKED TO REVIEW AND SIGN THE CONFLICT OF INTEREST POLICY AT THE TIME OF ENGAGEMENT AND TO COMPLETE A RELATED QUESTIONNAIRE. THE QUESTIONNAIRE IS ADMINISTERED ANNUALLY. THE CONFLICT OF INTEREST POLICY IS RE-SIGNED FOLLOWING ANY REVISIONS TO THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE PERFORMANCE OF THE CEO IS ASSESSED BY THE GOVERNING BODY DURING A BOARD OF DIRECTORS MEETING, AND ANY NECESSARY ADJUSTMENTS TO COMPENSATION ARE DECIDED UPON AT THAT TIME. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, ORGANIZATIONAL POLICIES, AND FINANCIAL STATEMENTS ARE AVAILABLE FOR VIEWING BY THE PUBLIC AT THE ORGANIZATION'S OFFICE UPON REQUEST. MILLBROOK VILLAS LLC PO BOX 28165 RALEIGH NC 27611 562159204 RENTAL NC 73949 547683 PASSAGE HOME BB REDEVELOPMENT LLC PO BOX 28165 RALEIGH NC 27611 452521320 RENTAL NC 0 0 PASSAGE HOME HOKE STREET PH REDEVELOPMENT LLC PO BOX 28165 RALEIGH NC 27611 815136633 OTHER NC 196911 2757967 PASSAGE HOME