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Nonprofit · EIN 56-1404398

SHARON MANOR HOMES INC

Tax-exempt · GREENSBORO, NC 27401

Financials

$319K$306K2023$338K$290K2024
Revenue Expenses · by fiscal year end
Financials of SHARON MANOR HOMES INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$337,917$289,687$48,230$1,195,918$1,364,778-$168,860
December 31, 2023990$318,766$306,145$12,621$1,183,428$1,400,518-$217,090
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$229,053
of which government grants
$229,053
Program service revenue
$108,832
Investment income
$32
Net gain from sales of assets
-$405
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Accounting fees
$11,302
Occupancy
$45,072
Depreciation
$42,692
Program services (functional)
$251,082
Management and general (functional)
$38,605

Balance sheet and other

Total assets, start of year
$1,183,428
Total assets, end of year
$1,195,918
Total liabilities, end of year
$1,364,778
Net assets, end of year
-$168,860
Land, buildings and equipment
$506,125
Net assets without donor restrictions
-$168,860
Gross receipts
$338,322
Employees
0
Year formed
1985
State of legal domicile
NC

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
OLONDA CARRDIRECTOR
Trustee or director
–$0
WARREN LASANEDIRECTOR
Trustee or director
–$0
WALTER R NELSONDIRECTOR
Trustee or director
–$0
GRACE SOLOMONASSISTANT SE
Trustee or director, Officer
–$0
DR JAMES THOMASCHAIR
Trustee or director, Officer
–$0
990 for the year ended December 31, 2023: 5 people
NameTitleHours / weekCompensation
OLONDA CARRDIRECTOR
Trustee or director
–$0
WARREN LASANEDIRECTOR
Trustee or director
–$0
WALTER R NELSONDIRECTOR
Trustee or director
–$0
GRACE SOLOMONASSISTANT SE
Trustee or director, Officer
–$0
DR JAMES THOMASCHAIR
Trustee or director, Officer
–$0

Address and contacts

Address (IRS master file)
C/O BMC 408 BATTLEGROUND AVE, GREENSBORO, NC 27401-0000
In care of
% BEACON MGT
Principal officer (990 for 2024)
DR JAMES THOMAS, 4703 N SHARON AMITY ROAD, CHARLOTTE, NC 28205
Signed the 990
DR JAMES THOMAS, CHAIR
Phone
(336) 545-9000
Return prepared by
O DOUGLAS COVINGTON

Mission

SHARON MANOR HOMES, INC. (THE CORPORATION) 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 OPERATING AS SHARON MANOR HOMES (THE PROJECT). IN JANUARY OF 2007, THE PROJECT REFINANCED ITS HUD SECTION 202 LOAN WITH ONE COVERED BY HUD MORTGAGE INSURANCE UNDER SECTION 223(F) OF THE NATIONAL HOUSING ACT. IN FEBRUARY 2021, THE PROJECT'S MORTGAGE WAS REFINANCED AGAIN AND IS INSURED BY HUD UNDER SECTION 207/223(F) PURSUANT TO SECTION 223(A) (7) OF THE NATIONAL HOUSING ACT, AS AMENDED AND THE REGULATIONS PUBLISHED THEREUNDER IN EFFECT ON DECEMBER 30, 2020. THE PROJECT CONSISTS OF 39 HUD-ASSISTED ELDERLY HOUSING UNITS IN CHARLOTTE, NORTH CAROLINA AND IS CURRENTLY OPERATING UNDER THE NAME OF SHARON MANOR HOMES. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. OCCUPANCY IS RESTRICTED BY HUD TO VERY LOW-INCOME HOUSEHOLDS

990 for the year ended December 31, 2024

Program accomplishments

  • SHARON MANOR HOMES, INC. (THE CORPORATION) 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 OPERATING AS SHARON MANOR HOMES (THE PROJECT). IN JANUARY OF 2007, THE PROJECT REFINANCED ITS HUD SECTION 202 LOAN WITH ONE COVERED BY HUD MORTGAGE INSURANCE UNDER SECTION 223(F) OF THE NATIONAL HOUSING ACT. IN FEBRUARY 2021, THE PROJECT'S MORTGAGE WAS REFINANCED AGAIN AND IS INSURED BY HUD UNDER SECTION 207/223(F) PURSUANT TO SECTION 223(A) (7) OF THE NATIONAL HOUSING ACT, AS AMENDED AND THE REGULATIONS PUBLISHED THEREUNDER IN EFFECT ON DECEMBER 30, 2020. THE PROJECT CONSISTS OF 39 HUD-ASSISTED ELDERLY HOUSING UNITS IN CHARLOTTE, NORTH CAROLINA AND IS CURRENTLY OPERATING UNDER THE NAME OF SHARON MANOR HOMES. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. OCCUPANCY IS RESTRICTED BY HUD TO VERY LOW-INCOME HOUSEHOLDS WITH AT LEAST ONE PERSON 62 YEARS OF AGE OR OLDER. A SIGNIFICANT PORTION OF THE PROJECT'S RENTAL INCOME IS RECEIVED FROM HUD UNDER A SECTION 8 HOUSING ASSISTANCE PAYMENT AGREEMENT. DURING THE YEAR ENDED DECEMBER 31, 2024, RENTAL REVENUE FROM HUD TOTALED 229,053, REPRESENTING 67.7% OF TOTAL REVENUE. THE PROJECT'S NON-MAJOR PROGRAM IS ITS SECTION 8 RENT SUBSIDY.
    Expenses $251,082 · revenue $108,832

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
56-1404398
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1984
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,195,918
Income (IRS master file)
$338,322

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$337,917$289,687$1,195,918IRS
990December 2023$318,766$306,145$1,183,428XML
990December 2022$314,053$275,678$1,275,725IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1404398).

Questions about SHARON MANOR HOMES INC

What is the EIN of SHARON MANOR HOMES INC?
The employer identification number (EIN) of SHARON MANOR HOMES INC is 56-1404398.
Is SHARON MANOR HOMES INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1984.
Are donations to SHARON MANOR HOMES INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does SHARON MANOR HOMES INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of SHARON MANOR HOMES INC due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did SHARON MANOR HOMES INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of SHARON MANOR HOMES INC?
The 990 for the year ended December 31, 2024 names DR JAMES THOMAS.
Who are the officers and directors of SHARON MANOR HOMES INC?
The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
How much revenue does SHARON MANOR HOMES INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $337,917, expenses of $289,687 and total assets of $1,195,918 at year end.

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