HOUSING AND ECONOMIC OPPORTUNITIES INC

Address
1524 S 16TH STREET NO 2ND FL
WILMINGTON, NC 28401
Contact
Phone: +1 (910) 341-7700
Nonprofit
NTEE: R20 - Civil Rights, Advocacy for Specific Groups
EIN: 56-2111502

Mission

TO OFFER AFFORDABLE HOUSING AND SUPPORT SO THAT NO ONE SHALL BELIEVE THEY SHOULD LIVE IN SUBSTANDARD HOUSING DUE TO FINANCIAL OR SOCIAL CONDITIONS.
 20172016201520142013
Basic features of the organization
Year of formation1998
Subsection code03
PF filing required0    
Metropolitan statistical area9200
Form of organization
CorporationTrue
Human resources, including compensation
Summary compensation info
Sum of reportable (W2/1099) compensation$0.00$0.00$0.00$0.00$0.00
Number of employees00000
Number of people compensated >$100k00000
Number of volunteers98999
Number of highly compensated contractors0000 
Personnel
Chestnut, Kenneth
TitleDIRECTOR, VICE CHAIRDIRECTOR   
Name of key/compensated personKENNETH CHESTNUT SRKENNETH CHESTNUT SR   
Position of compensated person
Current individual trustee or directorTrueTrue   
Current officerTrue    
Average hours per week working for org1.401.40   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Average hours per week working for related orgs2.802.80   
Dean, Lenwood
Title   DIECTORDIRECTOR
Name of key/compensated person   MR LENWOOD DEAN JRMR LENWOOD DEAN JR
Position of compensated person
Current individual trustee or director   TrueTrue
Average hours per week working for org   1.401.40
Reportable compensation from org   $0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Average hours per week working for related orgs   2.802.80
Fitzwater, Kim
TitleDIRECTOR OF FINANCE AS OF 1/23/17    
Name of key/compensated personKIM FITZWATER    
Position of compensated person
Current officerTrue    
Average hours per week working for org1.40    
Reportable compensation from org$0.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Average hours per week working for related orgs38.60    
Franck, Stuart
TitleDIRECTORDIRECTOR   
Name of key/compensated personSTUART FRANCKMR STUART FRANCK   
Position of compensated person
Current individual trustee or directorTrueTrue   
Average hours per week working for org1.401.40   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$0.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00   
Average hours per week working for related orgs2.802.80   
Frank, Stuart
Title  DIRECTORVICE CHAIR, DIRECTORVICE CHAIR, DIRECTOR
Name of key/compensated person  MR STUART FRANKMR STUART FRANKMR STUART FRANK
Position of compensated person
Current individual trustee or director  TrueTrueTrue
Current officer   TrueTrue
Average hours per week working for org  1.401.401.40
Reportable compensation from org  $0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs  $0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs   $0.00$0.00$0.00
Average hours per week working for related orgs  2.802.802.80
Hays, Debra
TitleDIRECTORDIRECTORDIRECTORDIRECTORDIRECTOR
Name of key/compensated personDEBRA H HAYSMS DEBRA H HAYSMS DEBRA H HAYSMS DEBRA H HAYSMS DEBRA H HAYS
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Average hours per week working for org1.401.401.401.401.40
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs2.802.802.802.802.80
Hovis, Jeffrey
TitleDIRECTORDIRECTORDIRECTORCHAIR, DIRECTORCHAIR, DIRECTOR
Name of key/compensated personJEFFREY G HOVISMR JEFFREY G HOVISMR JEFFREY G HOVISMR JEFFREY G HOVISMR JEFFREY G HOVIS
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officer   TrueTrue
Average hours per week working for org1.401.401.401.401.40
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs2.802.802.802.802.80
Kahn, Betsy
TitleDIRECTOR, CHAIRVICE CHAIR, DIRECTORVICE CHAIR, DIRECTORDIRECTOR 
Name of key/compensated personBETSY KAHNMS BETSY KAHNMS BETSY KAHNMS BETSY KAHN 
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrue 
Current officerTrueTrueTrue  
Average hours per week working for org1.401.401.401.40 
Reportable compensation from org$0.00$0.00$0.00$0.00 
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00 
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00 
Average hours per week working for related orgs2.802.802.802.80 
Kerwin, Michelle
TitleDIRECTOR OF FINANCE THROUGH 9/1/16DIRECTOR OF FINANCE   
Name of key/compensated personMICHELLE KERWINMICHELLE KERWIN   
Position of compensated person
Current individual trustee or director True   
Current officerTrueTrue   
Average hours per week working for org1.401.40   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$16,658.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $68,380.00$87,877.00   
Average hours per week working for related orgs38.602.80   
Levy, Helayne
TitleDIRECTOR THROUGH 3/1/17    
Name of key/compensated personHELAYNE LEVY    
Position of compensated person
Current individual trustee or directorTrue    
Average hours per week working for org1.40    
Reportable compensation from org$0.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Average hours per week working for related orgs2.80    
Levy, Heylane
Title DIRECTORDIECTORDIECTORDIECTOR
Name of key/compensated person MS HEYLANE LEVYMS HEYLANE LEVYMS HEYLANE LEVYMS HEYLANE LEVY
Position of compensated person
Current individual trustee or director TrueTrueTrueTrue
Average hours per week working for org 1.401.401.401.40
Reportable compensation from org $0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs $0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs  $0.00$0.00$0.00$0.00
Average hours per week working for related orgs 2.802.802.802.80
McDonald, Alfredia
TitleDIRECTORDIRECTORDIRECTORDIRECTORDIRECTOR
Name of key/compensated personALFREDIA MCDONALDMS ALFREDIA MCDONALDMS ALFREDIA MCDONALDMS ALFREDIA MCDONALDMS ALFREDIA MCDONALD
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Average hours per week working for org1.401.401.401.401.40
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs2.802.802.802.802.80
Neel, Greg
TitleDIRECTOR THROUGH 9/1/16CHAIR, DIRECTORCHAIR, DIRECTORDIRECTORDIRECTOR
Name of key/compensated personGREG NEELMR GREG NEELMR GREG NEELMR GREG NEELMR GREG NEEL
Position of compensated person
Current individual trustee or directorTrueTrueTrueTrueTrue
Current officer TrueTrue  
Average hours per week working for org1.401.401.401.401.40
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs$0.00$0.00$0.00$0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00$0.00$0.00$0.00$0.00
Average hours per week working for related orgs2.802.802.802.802.80
Redmon, Katrina
TitlePRESIDENTCEO   
Name of key/compensated personKATRINA H REDMONMS KATRINA REDMON   
Position of compensated person
Current individual trustee or director True   
Current officerTrueTrue   
Average hours per week working for org1.401.40   
Reportable compensation from org$0.00$0.00   
Other comp, non-reportable, from org and related orgs$26,481.00$0.00   
Corresponding comp from related orgs
Reportable compensation from related orgs $176,686.00$187,832.00   
Average hours per week working for related orgs38.602.80   
Sutton, Cheryl
Title   DIRECTORDIRECTOR
Name of key/compensated person   MS CHERYL SUTTONMS CHERYL SUTTON
Position of compensated person
Current individual trustee or director   TrueTrue
Average hours per week working for org   1.401.40
Reportable compensation from org   $0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Average hours per week working for related orgs   2.802.80
Webb, Phillip
TitleDIRECTOR    
Name of key/compensated personPHILLIP WEBB    
Position of compensated person
Current individual trustee or directorTrue    
Average hours per week working for org1.40    
Reportable compensation from org$0.00    
Other comp, non-reportable, from org and related orgs$0.00    
Corresponding comp from related orgs
Reportable compensation from related orgs $0.00    
Average hours per week working for related orgs2.80    
Wicker, Arcelia
Title    DIRECTOR
Name of key/compensated person    MR ARCELIA WICKER SR
Position of compensated person
Current individual trustee or director    True
Average hours per week working for org    1.40
Reportable compensation from org    $0.00
Other comp, non-reportable, from org and related orgs    $0.00
Corresponding comp from related orgs
Reportable compensation from related orgs     $0.00
Average hours per week working for related orgs    2.80
Purpose: mission, activities, & accomplishments
Mission or significant activitiesPROVIDES AFFORDABLE HOUSING AND ELIMINATES VACANT, UNINHABITABLE HOUSING.PROVIDES AFFORDABLE HOUSING AND ELIMINATES VACANT, UNINHABITABLE HOUSING.PROVIDES AFFORDABLE HOUSING AND ELIMINATES VACANT, UNINHABITABLE HOUSING.PROVIDES AFFORDABLE HOUSING AND ELIMINATES VACANT, UNINHABITABLE HOUSING.PROVIDES AFFORDABLE HOUSING AND ELIMINATES VACANT, UNINHABITABLE HOUSING.
Program service expenses, total$266,542.00$68,530.00$65,218.00$420,638.00$1,646,672.00
Programs, including revenue & expenses
DURING 2017, HEO AND ITS PARTNERS COMPLETED THE REHABILITATION OF A DISTRESSED PUBLIC HOUSING PROPERTY USING LIHTC AND PROVIDED 77 LOW INCOME FAMILIES WITH SAFE AND AFFORDABLE HOUSING. HEO ALSO MANAGED A 8 UNIT SUPPORTIVE HOUSING PROPERTY THAT ALLOWS PERSONS WITH DISABILITIES TO LIVE INDEPENDENTLY. HEO ALSO BEGAN CONSTRUCTION ON ANOTHER 8 UNIT SUPPORTIVE HOUSING DEVELOPMENT FOR DISABLED INDIVIDUALS. THIS PROJECT WAS FUNDED THROUGH THE NORTH CAROLINA HOUSING FINANCE AGENCY'S SUPPORTIVE HOUSING DEVELOPMENT PROGRAM AND CDBG FUNDING FROM THE CITY OF WILMINGTON. RESIDENTS WHO WOULD OTHERWISE BE LIVING IN ASSISTED LIVING OR WITH FAMILY ARE OFFERED THE OPPORTUNITY TO LIVE INDEPENDENTLY BECAUSE OF THE PARTNERSHIP BETWEEN HEO AND ELDERHAUS TO PROVIDE SUPPORTIVE SERVICES FOR ALL RESIDENTS.
Program expenses$266,542.00$68,530.00   
Program revenue$312,260.00$680,598.00   
Program descriptionDURING 2017, HEO AND ITS PARTNERS COMPLETED THE REHABILITATION OF A DISTRESSED PUBLIC HOUSING PROPERTY USING LIHTC AND PROVIDED 77 LOW INCOME FAMILIES WITH SAFE AND AFFORDABLE HOUSING. HEO ALSO MANAGED A 8 UNIT SUPPORTIVE HOUSING PROPERTY THAT ALLOWS PERSONS WITH DISABILITIES TO LIVE INDEPENDENTLY. HEO ALSO BEGAN CONSTRUCTION ON ANOTHER 8 UNIT SUPPORTIVE HOUSING DEVELOPMENT FOR DISABLED INDIVIDUALS. THIS PROJECT WAS FUNDED THROUGH THE NORTH CAROLINA HOUSING FINANCE AGENCY'S SUPPORTIVE HOUSING DEVELOPMENT PROGRAM AND CDBG FUNDING FROM THE CITY OF WILMINGTON. RESIDENTS WHO WOULD OTHERWISE BE LIVING IN ASSISTED LIVING OR WITH FAMILY ARE OFFERED THE OPPORTUNITY TO LIVE INDEPENDENTLY BECAUSE OF THE PARTNERSHIP BETWEEN HEO AND ELDERHAUS TO PROVIDE SUPPORTIVE SERVICES FOR ALL RESIDENTS.DURING 2016, HEO AND ITS PARTNERS COMPLETED THE REHABILITATION OF A DISTRESSED PUBLIC HOUSING PROPERTY USING LIHTC AND PROVIDED 77 LOW INCOME FAMILIES WITH SAFE AND AFFORDABLE HOUSING. HEO ALSO MANAGED A 8 UNIT SUPPORTIVE HOUSING PROPERTY THAT ALLOWS PERSONS WITH DISABILITIES TO LIVE INDEPENDENTLY. HEO ALSO BEGAN CONSTRUCTION ON ANOTHER 8 UNIT SUPPORTIVE HOUSING DEVELOPMENT FOR DISABLED INDIVIDUALS. THIS PROJECT WAS FUNDED THROUGH THE NORTH CAROLINA HOUSING FINANCE AGENCY'S SUPPORTIVE HOUSING DEVELOPMENT PROGRAM AND CDBG FUNDING FROM THE CITY OF WILMINGTON. RESIDENTS WHO WOULD OTHERWISE BE LIVING IN ASSISTED LIVING OR WITH FAMILY ARE OFFERED THE OPPORTUNITY TO LIVE INDEPENDENTLY BECAUSE OF THE PARTNERSHIP BETWEEN HEO AND ELDERHAUS TO PROVIDE SUPPORTIVE SERVICES FOR ALL RESIDENTS.   
TO PROVIDE DECENT, SAFE, AFFORDABLE HOUSING IN THE COMMUNITY AND ELIMINATE VACANT, UNINHABITABLE HOUSING.
Program expenses  $65,218.00$420,638.00$1,646,672.00
Program revenue  $328,056.00$147,764.00$225,856.00
Program description  TO PROVIDE DECENT, SAFE, AFFORDABLE HOUSING IN THE COMMUNITY AND ELIMINATE VACANT, UNINHABITABLE HOUSING.TO PROVIDE DECENT, SAFE, AFFORDABLE HOUSING IN THE COMMUNITY AND ELIMINATE VACANT, UNINHABITABLE HOUSING.TO PROVIDE DECENT, SAFE, AFFORDABLE HOUSING IN THE COMMUNITY AND ELIMINATE VACANT, UNINHABITABLE HOUSING.
Financial data
Revenue
Total revenue$312,387.00$680,959.00$663,238.00$148,376.00$527,582.00
Revenue from contributions (total)  $335,000.00$0.00$300,000.00
Revenue from noncash contributions  $335,000.00  
Investment income, current yr$127.00$361.00$182.00$612.00$1,726.00
Total revenue from grants, etc., current yr$0.00$0.00$335,000.00$0.00$300,000.00
Total unrelated business revenue$0.00$0.00$0.00$0.00$0.00
Other revenue, current yr$0.00$0.00$0.00$0.00$2,678.00
Net unrelated business taxable revenue$0.00$0.00$0.00$0.00$0.00
Program service revenue (total)$312,260.00$680,598.00$328,056.00$147,764.00$223,178.00
Gross receipts$312,387.00$680,959.00$663,238.00$148,376.00$527,582.00
Sources of contributions
Revenue from gov't grants    $300,000.00
Revenue from all other contributions  $335,000.00  
Other types of revenue
Miscellaneous revenue (total)    $2,678.00
Income from dividends, interest, and similar investments$127.00$361.00$182.00$612.00$1,726.00
Net rental income  $0.00$0.00$0.00
Expense categories (totals)
Total functional expenses: sum of all$442,638.00$224,199.00$262,083.00$500,450.00$1,829,299.00
Total functional expenses: program service $266,542.00$68,530.00$65,218.00$420,638.00$1,646,672.00
Total functional expenses: management and general$176,096.00$155,669.00$196,865.00$79,812.00$182,627.00
Total functional expenses: fundraising$0.00$0.00$0.00$0.00$0.00
Fees for services
Legal fees (total)$16,848.00$7,256.00$3,675.00$1,112.00$9,104.00
Fundraising service fees (total)$0.00$0.00$0.00$0.00$0.00
General management fees (total)$43,648.00$42,648.00$35,648.00 $131,127.00
Assets and liabilities
Total assets$3,159,207.00$2,880,384.00$2,691,151.00$2,224,852.00$2,275,128.00
Total assets, beginning of year$2,880,383.00$2,691,151.00$2,224,852.00$2,275,127.00$2,648,418.00
Total liabilities$945,414.00$536,338.00$801,359.00$736,214.00$1,009,953.00
Total liabilities, beginning of year$536,337.00$801,359.00$736,214.00$1,009,952.00$53,238.00
Unrestricted net assets, end of yr$2,185,228.00$2,344,046.00$1,889,792.00$1,488,638.00 
Temporarily restricted net assets$28,565.00    
Net assets$2,213,793.00$2,344,046.00$1,889,792.00$1,488,638.00$1,265,175.00
Net assets, beginning of year$2,344,046.00$1,889,792.00$1,488,638.00$1,265,175.00$2,595,180.00
Other liabilities$15,424.00$11,339.00$87,373.00$72,153.00 
Other assets$14,327.00$158,985.00$101,211.00$97,408.00$38,658.00
Cash: non-interest bearing$40,183.00    
Cash: non-interest bearing, beginning of year$48,257.00    
Inventories for sale or use$668.00 $0.00$236.00 
Other financial variables
Revenue less expenses-$130,251.00$456,760.00$401,155.00-$352,074.00-$1,301,717.00
Advertising (total)$36.00    
Savings & temp cash investment$16,834.00$540,204.00$803,034.00$475,835.00$700,525.00
Accounts receivable, net$927,078.00$1,093,196.00$675,172.00$847,386.00$596,557.00
Prepaid expenses & deferred charges$5,607.00$6,360.00$1,979.00$1,147.00$1,126.00
Accounts payable & accrued expenses$15,010.00$32,349.00$206,564.00$140,157.00$108,154.00
Deferred revenue$1,170.00$37,764.00$35,580.00$35,106.00$36,969.00
Unsecured notes & loans to unrelated parties$913,810.00$454,886.00$471,842.00$488,798.00$864,830.00
Total net assets or fund balances$2,213,793.00$2,344,046.00$1,889,792.00$1,488,638.00$1,265,175.00
Depreciation, depletion, amortization$28,116.00$28,116.00$28,118.00$30,458.00$35,146.00
Governance and accountability
Number of voting members78999
Number of independent voting members78999
Financial sheets auditedTrueTrueTrueTrueTrue
Audit on consolidated basis TrueTrueTrue 
Audited on both consolidated and separate basisTrue   True
Accrual accountingTrueTrueTrueTrueTrue
Tax year start date2016-04-012015-04-012014-04-012013-04-012012-04-01
Tax year end date2017-03-012016-03-012015-03-012014-03-012013-03-01
Indicators for schedules (selected)
Org has controlled entityTrue    
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990990990990990
Date e-filing submitted2018-03-122017-07-312016-07-152015-02-232014-04-10
IRS schema version2016v3.02015v3.02014v6.02013v4.02012v2.1
Filing identifier201810449349301336201710459349301511201630469349300528201520419349301317201440389349301324
Use these data in your project Benchmark this organization against its peers