Nonprofit · EIN 56-1805915
COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION
Tax-exempt · RALEIGH, NC 27615
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $15,736,908 | $17,266,441 | -$1,529,533 | $25,075,929 | $3,523,493 | $21,552,436 |
| December 31, 2024 | 990 | $17,757,204 | $17,030,014 | $727,190 | $28,274,760 | $5,192,791 | $23,081,969 |
| December 31, 2023 | 990 | $10,248,278 | $14,733,274 | -$4,484,996 | $29,897,037 | $7,542,258 | $22,354,779 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $305,199
- Program service revenue
- $14,621,169
- Investment income
- $810,540
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $361,832
- Other salaries and wages
- $5,129,389
- Salaries, compensation and benefits (total)
- $11,223,029
- Professional fundraising fees
- $0
- Legal fees
- $1,072,601
- Accounting fees
- $57,482
- Occupancy
- $275,841
- Travel
- $357,066
- Depreciation
- $68,653
- Program services (functional)
- $15,870,310
- Management and general (functional)
- $1,396,131
Balance sheet and other
- Total assets, start of year
- $28,274,760
- Total assets, end of year
- $25,075,929
- Total liabilities, end of year
- $3,523,493
- Net assets, end of year
- $21,552,436
- Land, buildings and equipment
- $809,737
- Net assets without donor restrictions
- $21,552,436
- Gross receipts
- $15,736,908
- Employees
- 55
- Volunteers
- 0
- Year formed
- 1992
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DANA BOOLE | PRESIDENT AND CEO Officer | 40 | $860,623 | $52,717 |
| ERIN GRIFFIN | CHIEF FINANCIAL OFFICER Officer | 40 | $373,785 | $64,394 |
| WILLIAM MAYO | VICE PRESIDENT Officer | 40 | $370,985 | $64,390 |
| GEORGE BAKER | SVP, CAHEC PROPERTIES CORP. Officer | 40 | $346,407 | $49,674 |
| SONYA PREAR | VICE PRESIDENT Officer | 40 | $309,888 | $57,580 |
| MARCUS GIPNER | DIRECTOR, FUND DEVELOPMENT Highest-paid employee | 40 | $266,192 | $40,190 |
| BRIAN OXFORD | DIRECTOR, COMMUNITY CAPITAL Highest-paid employee | 40 | $242,649 | $53,763 |
| JOSEPH ERDELYI | DIRECTOR, RISK MANAGEMENT Highest-paid employee | 40 | $194,006 | $29,700 |
| BRENDA KEELY | DIRECTOR, FINANCE Highest-paid employee | 40 | $179,705 | $36,438 |
| NANCY PEARCE | RISK MANAGER Highest-paid employee | 40 | $168,940 | $37,766 |
| ANDREW BOWDEN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| ANNE CONNER | CHAIRMAN OF THE BOARD Trustee or director | 1 | $0 | $0 |
| JOAQUIN ALTORO | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| JOHN RUCKER | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| KEITH NISBET | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
5 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARGARET PENN | SECRETARY & TREASURER Trustee or director | 1 | $0 |
| NATE BARBER | VICE CHAIR Trustee or director | 1 | $0 |
| SCOTT SELIG | BOARD MEMBER Trustee or director | 1 | $0 |
| STEPHEN O'CONNOR | BOARD MEMBER Trustee or director | 1 | $0 |
| WILLIAM TURNER | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Dana Boole | President and CEO Officer | 40 | $705,268 | $49,599 |
| Erin Griffin | Chief Financial Officer Officer | 40 | $343,478 | $57,999 |
| William Mayo | Vice President Officer | 40 | $314,139 | $59,714 |
| Sonya Prear | Vice President Officer | 40 | $297,396 | $52,479 |
| George Baker | VP, CAHEC Properties Corp. Highest-paid employee | 40 | $270,108 | $40,763 |
| Marcus Gipner | Manager, Fund Development Highest-paid employee | 40 | $264,175 | $41,261 |
| Brian Oxford | Manager, Community Capital Highest-paid employee | 40 | $242,911 | $51,874 |
| Amy Mallory | Manager, Fund Management Highest-paid employee | 40 | $242,297 | $42,482 |
| Robert Landis | Sr. Vice President Officer | 40 | $238,694 | $25,305 |
| Joseph Erdelyi | Manager, Risk Management Highest-paid employee | 40 | $189,363 | $27,742 |
| Andrew Bowden | Board Member Trustee or director | 1 | $0 | $0 |
| Anne Conner | Chairman of the Board Trustee or director | 1 | $0 | $0 |
| John Rucker | Board Member Trustee or director | 1 | $0 | $0 |
| Keith Nisbet | Board Member Trustee or director | 1 | $0 | $0 |
| Margaret Penn | Secretary & Treasurer Trustee or director | 1 | $0 | $0 |
| Nate Barber | Vice Chair Trustee or director | 1 | $0 | $0 |
| Scott Selig | Board Member Trustee or director | 1 | $0 | $0 |
| Stephen O'Connor | Board Member Trustee or director | 1 | $0 | $0 |
| William Turner | Board Member Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Dana Boole | President and CEO Officer | 40 | $711,930 | $49,639 |
| Robert Landis | Sr. Vice President Officer | 40 | $325,416 | $46,064 |
| William Mayo | Vice President Officer | 40 | $305,390 | $58,170 |
| Erin Griffin | Vice President Officer | 40 | $313,130 | $35,859 |
| Sonya Prear | Vice President Officer | 40 | $273,121 | $54,532 |
| Marcus Gipner | Manager, Fund Development Highest-paid employee | 40 | $247,781 | $40,522 |
| George Baker | VP, CAHEC Properties Corp. Highest-paid employee | 40 | $245,290 | $41,658 |
| Brian Oxford | Manager, Community Capital Highest-paid employee | 40 | $231,334 | $50,344 |
| Amy Mallory | Manager, Fund Management Highest-paid employee | 40 | $226,356 | $41,897 |
| Joseph Erdelyi | Manager, Risk Management Highest-paid employee | 40 | $190,133 | $28,937 |
| Andrew Bowden | Board Member Trustee or director | 1 | $0 | $0 |
| Anne Conner | Chairman of the Board Trustee or director | 1 | $0 | $0 |
| John Rucker | Board Member Trustee or director | 1 | $0 | $0 |
| Keith Nisbet | Board Member Trustee or director | 1 | $0 | $0 |
| Margaret Penn | Secretary & Treasurer Trustee or director | 1 | $0 | $0 |
| Nate Barber | Vice Chair Trustee or director | 1 | $0 | $0 |
| Rachel Ryan | Board Member Trustee or director | 1 | $0 | $0 |
| Scott Selig | Board Member Trustee or director | 1 | $0 | $0 |
| William Turner | Board Member Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 7700 FALLS OF NEUSE RD STE 200, RALEIGH, NC 27615-3355
- Principal officer (990 for 2025)
- DANA BOOLE, 7700 FALLS OF NEUSE ROAD 200, RALEIGH, NC 27615
- Signed the 990
- DANA BOOLE, PRESIDENT
- Phone
- (919) 420-0063
- Website
- WWW.CAHEC.COM
- Return prepared by
- FORVIS MAZARS LLP
Mission
CAHEC'S PRIMARY MISSION IS TO RAISE CAPITAL TO FINANCE THE DEVELOPMENT OF AFFORDABLE MULTI-FAMILY RENTAL HOUSING UNDER THE PROVISIONS OF THE FEDERAL LOW-INCOME HOUSING TAX CREDIT PROGRAM (SECTION 42 OF IRC); AND MAKE AVAILABLE AN ARRAY OF SUPPORTIVE SERVICE INITIATIVES.
Program accomplishments
- CAHEC RAISES AND INVESTS EQUITY CAPITAL IN QUALIFIED LOW-INCOME HOUSING TAX CREDIT AND OTHER TAX CREDIT PRODUCTS. IN 2025, CAHEC RAISED EQUITY CAPITAL OF $166,293,816 AND INVESTED IN 1,650 HOUSING UNITS. CAHEC ALSO PROVIDES CAPITAL THROUGH A SERIES OF COMMUNITY INVESTMENTS WHICH EMPOWERS RESIDENTS, PROMOTES THE DEVELOPMENT OF AFFORDABLE RENTAL AND OWNERSHIP HOUSING, AND FOSTERS SUSTAINABILITY WITHIN THE COMMUNITIES THAT IT SERVES.Expenses $14,974,856 · revenue $14,621,169
- IN 2025, CAHEC'S COMMUNITY INVESTMENTS TOTALED $895,454 TO RESIDENTS, COMMUNITIES, DEVELOPMENTS, AND ORGANIZATIONS. THESE INITIATIVES, ADMINISTERED AND FUNDED BY CAHEC, ARE (I) FOR THE BENEFIT OF THE RESIDENTS WHO RESIDE IN THE DEVELOPMENTS THAT CAHEC INVESTS, AND (II) DESIGNED TO EMPOWER RESIDENTS BY ENCOURAGING THEM TO SET AND ACHIEVE GOALS, STRENGTHEN JOB SKILLS, AND TAKE CARE OF THEIR COMMUNITY.Expenses $895,454 · grants $361,832
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 56-1805915
- 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
- 1997
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L99Z)
- Assets (IRS master file)
- $25,075,929
- Income (IRS master file)
- $15,736,908
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $15,736,908 | $17,266,441 | $25,075,929 | XML |
| 990 | December 2024 | $17,757,204 | $17,030,014 | $28,274,760 | XML |
| 990 | December 2023 | $10,248,278 | $14,733,274 | $29,897,037 | XML |
| 990 | December 2022 | $13,277,781 | $13,847,624 | $32,501,366 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 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 56-1805915).
Questions about COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION
- What is the EIN of COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION?
- The employer identification number (EIN) of COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION is 56-1805915.
- Is COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
- Are donations to COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION 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 COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION?
- The 990 for the year ended December 31, 2025 names DANA BOOLE.
- Who are the officers and directors of COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION?
- The 990 for the year ended December 31, 2025 lists 20 people; 10 received compensation from the organization, the highest $860,623 (DANA BOOLE, PRESIDENT AND CEO).
- How much revenue does COMMUNITY AFFORDABLE HOUSING EQUITY CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $15,736,908, expenses of $17,266,441 and total assets of $25,075,929 at year end.
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