2012-08-14T09:30:08-05:00 2011-12-31 MINOR ANGLIN & ASSOCIATES PA 3608 SHANNON RD SUITE 105 DURHAM NC 27707 990 2011-01-01 205724075 BUILDERS OF HOPE INC BUIL 9198306666 310 NORTH HARRINGTON STREET RALEIGH NC 27603 NANCY WELSH 9198306666 2012-08-07 true DAN E MINOR- CPA 9194932603 2012-08-14 2011 2016-02-24 21:20:13Z NANCY WELSH 310 NORTH HARRINGTON STREET RALEIGH NC 27603 10506974 false X WWW.BUILDERSOFHOPE.ORG X 2006 NC OUR MISSION IS TO INCREASE THE AVAILABILITY OF HIGH-QUALITY, SAFE, AFFORDABLE AND WORKFORCE HOUSING OPTIONS. THRU INNOVATIVE REUSE AND REHABILITATION WE INCORPORATE ECONOMIC BENEFITS, ENVIRONMENTAL STEWARDSHIP AND SOCIAL SOLUTIONS. AS SOCIAL ENTREPRENEURS, BUIDERS OF HOPE SUSTAINABLY REVITALIZES AT-RISK COMMUNITIES-ONE HOME, ONE FAMILY, ONE LIFE AT A TIME. OUR VISION IS TO BE LEADERS IN INNOVATION OF SUSTAINABLE REDEVELOPMENT. 6 5 84 45 -100686 5526622 7955753 2591382 2226034 -47843 -140152 -40768 -66786 8029393 9974849 675 0 0 1750187 1295144 0 243512 5309045 7530723 7059907 8825867 969486 1148982 10944560 16601755 6892055 11360694 4052505 5241061 X OUR MISSION IS TO INCREASE THE AVAILABILITY OF HIGH-QUALITY, SAFE, AFFORDABLE AND WORKFORCE HOUSING OPTIONS. THRU INNOVATIVE REUSE AND REHABILITATION WE INCORPORATE ECONOMIC BENEFITS, ENVIRONMENTAL STEWARDSHIP AND SOCIAL SOLUTIONS. AS SOCIAL ENTREPRENEURS, BUIDERS OF HOPE SUSTAINABLY REVITALIZES AT-RISK COMMUNITIES-ONE HOME, ONE FAMILY, ONE LIFE AT A TIME. OUR VISION IS TO BE LEADERS IN INNOVATION OF SUSTAINABLE REDEVELOPMENT. false false 7594877 2128966 OUR MISSION IS TO INCREASE THE AVAILABILITY OF HIGH-QUALITY, SAFE, AFFORDABLE AND WORKFORCE HOUSING OPTIONS. THRU INNOVATIVE REUSE AND REHABILITATION WE INCORPORATE ECONOMIC BENEFITS, ENVIRONMENTAL STEWARDSHIP AND SOCIAL SOLUTIONS. AS SOCIAL ENTREPRENEURS, BUIDERS OF HOPE SUSTAINABLY REVITALIZES AT-RISK COMMUNITIES-ONE HOME, ONE FAMILY, ONE LIFE AT A TIME. OUR VISION IS TO BE LEADERS IN INNOVATION OF SUSTAINABLE REDEVELOPMENT. 7594877 true true false false false false false false false false true false false false true true true false false false false false false false false false false false false false false false false true false false false false true false false false false false false false false false true 128 0 true 84 true false false false false false false X 6 5 true false true false false false false true true false false true true false false true true false false false NC X THE ORGANIZATION 8002776138 310 NORTH HARRINGTON STREET RALEIGH NC 27603 NANCY WELSH 40.00 X X 83716 0 0 PETER ADAMS 2.00 X 0 0 0 SANDRA M CLARK 2.00 X X 0 0 0 VICTORIA PHILLIPS 1.00 X 0 0 0 TIM GOETTEL 1.00 X 0 0 0 PHIL BRICKEL 1.00 X 0 0 0 LEW SCHULMAN 40.00 X 103078 0 0 ERIC S HOSTETLER 40.00 X 78511 0 0 265305 1 false false false TIM CLARK CONSTRUCTION LLC 4431 EUPHROSINE STREET SUITE G NEW ORLEANS LA 70125 CONSTRUCTION 1973122 PROBUILD COMPANY LLC 2512 YONKERS ROAD RALEIGH NC 27604 CONSTRUCTION 314192 AVN CONSTRUCTION 813 WOODMONT DRIVE COVINGTON LA 70433 CONSTRUCTION 305350 CASEY SERVICES HVAC INC 4900 PURNELL ROAD WAKE FOREST NC 27587 HVAC CONTRACTOR 137517 THOMPSON PLUMBING CO 381 WYNDFALL LANE CLAYTON NC 27527 PLUMBING 134009 8 5609462 2346291 1956409 7955753 HOME SALES 531390 1722712 1722712 CONTRACTED SERVICES 531390 391796 391796 DEVELOPMENT SERVICE FEE 531390 63150 63150 GREEN BUSINESS CREDITS 531390 46376 46376 CANCELLATION FEES 531390 2000 2000 2226034 692 692 290595 391281 -100686 -100686 -100686 140844 -140844 -140844 -140844 INCOME - OTHER 900099 29317 29317 BOOK SALES 900099 4583 4583 33900 9974849 2119090 -100686 692 1124814 620495 288370 215949 71515 64363 7152 98815 61856 20439 16520 15247 15247 36300 27225 9075 65378 49918 15460 175383 148200 27183 39354 29929 9425 241858 217671 24187 121728 110525 11203 10646 4132 6514 162288 162288 24297 21867 2430 221831 203204 18627 COST OF HOMES - REHAB 3233902 3233902 VA HOUSE MOVES PROGRAM EX 1694516 1694516 VA HOUSE MOVES DRY-IN PRO 751756 751756 BAD DEBT EXPENSE 231680 231680 504559 340071 159959 4529 8825867 7594877 987478 243512 8788 -33505 934251 23441 2049086 4497295 223347 104046 20150 10650 3982684 3970776 28270 5322 8122506 177488 3680184 7945018 17800 78712 10944560 16601755 1884461 1724425 51170 728113 918198 3686694 8273215 400749 132501 192038 261185 6892055 11360694 X 2055919 1756350 1996586 3484711 4052505 5241061 10944560 16601755 1148982 39574 X false true true X true true X 2334470 5121096 5526622 7955753 20937941 1939979 1432187 2622617 2226034 8220817 4274449 6553283 8149239 10181787 29158758 665446 665446 665446 665446 28493312 1612 5604 2530 692 10438 1612 5604 2530 692 10438 4276061 6558887 8151769 10182479 29169196 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false false false 2125793 2125793 5846031 135384 5710647 42856 2325 40531 86658 30958 55700 21168 8821 12347 7945018 ACCRUED INTEREST - N/P NANCY MURRAY 82374 ACCRUED PAYROLL TAXES 78974 ACCRUED INTEREST PAYABLE 39376 SECURITY DEPOSITS-TENANTS 25935 ACCRUED PAYROLL 19030 PENALTY & INTEREST PAYABLE 11330 EARNEST MONEY 4000 DIRECT DEPOSIT LIABILITIES 100 PROPERTY MGMT - PREPAID RENT 66 AMERICAN EXPRESS CONTRACTS PAYABLE 261185 9974849 8825867 1148982 39574 39574 1188556 10504695 10504695 -529846 -529846 9974849 9316139 9316139 -490272 -490272 8825867 LIABILITY UNDER FIN 48 FOOTNOTE SCHEDULE D, PAGE 3, PART X BUILDERS OF HOPE, INC. IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (THE CODE), AS AMENDED. AS SUCH, THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES TO THE EXTENT PROVIDED UNDER SECTION 501 OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS MADE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, FOR THE YEARS ENDING 2008, 2009, AND 2010 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. AS OF DECEMBER 31, 2011 THERE WERE NO UNCERTAIN TAX POSITIONS. RECONCILIATION OF CHANGES - OTHER SCHEDULE D, PAGE 4, PART XI, LINE 8 PROPERTY DONATED TO ANOTHER ORGANIZATION 140,844 RENTAL PROPERTY EXPENSES 389,002 PROPERTY DONATED TO ANOTHER ORGANIZATION -138,564 RENTAL PROPERTY EXPENSES -389,002 BOOK / TAX DEPRECIATION DIFFERENCE 37,294 REVENUE AMOUNTS INCLUDED ON RETURN - OTHER SCHEDULE D, PAGE 4, PART XII, LINE 4B PROPERTY DONATED TO ANOTHER ORGANIZATION -140,844 RENTAL PROPERTY EXPENSES -389,002 EXPENSE AMOUNTS INCLUDED ON RETURN - OTHER SCHEDULE D, PAGE 4, PART XIII, LINE 4B PROPERTY DONATED TO ANOTHER ORGANIZATION -138,564 RENTAL PROPERTY EXPENSES -389,002 BOOK / TAX DEPRECIATION DIFFERENCE 37,294 NANCY MURRAY SEED FUNDS FOR DEVELOPMENT X 691544 728113 false true true LOANS FROM PRINCIPALS OPERATING LOAN X 190085 190085 false false true 918198 X 8 466400 APPRAISAL X 1 1475000 APPRAISAL X 1 15009 FAIR VALUE false false false ORGANIZATION'S MISSION FORM 990 - ORGANIZATION'S MISSION OUR MISSION IS TO INCREASE THE AVAILABILITY OF HIGH-QUALITY, SAFE, AFFORDABLE AND WORKFORCE HOUSING OPTIONS. THRU INNOVATIVE REUSE AND REHABILITATION WE INCORPORATE ECONOMIC BENEFITS, ENVIRONMENTAL STEWARDSHIP AND SOCIAL SOLUTIONS. AS SOCIAL ENTREPRENEURS, BUIDERS OF HOPE SUSTAINABLY REVITALIZES AT-RISK COMMUNITIES-ONE HOME, ONE FAMILY, ONE LIFE AT A TIME. OUR VISION IS TO BE LEADERS IN INNOVATION OF SUSTAINABLE REDEVELOPMENT. EXPLANATION ON VOLUNTEERS AND TYPES OF SERVICES OR BENEFITS FORM 990, PAGE 1, PART I, LINE 6 THE VOLUNTEERS GAVE OVER 2,500 HOURS. THEY WERE INVOLVED IN THE BUILDING PROJECTS. RELATED PARTY INFORMATION AMONG OFFICERS FORM 990, PAGE 6, PART VI, LINE 2 NANCY WELSH DAVID WELSH CEO VICE PRES. SISTER AND BROTHER SIGNIFICANT CHANGES TO ORGANIZATIONAL DOCUMENTS FORM 990, PAGE 6, PART VI, LINE 4 THE FOLLOWING AMENDMENT TO THE RESTATEMENT OF BYLAWS OF BUILDERS OF HOPE, INC. HAS BEEN ADOPTED BY ACTION OF THE DIRECTORS OF THE CORPORATION AS STATED IN THE ADDITION OF ARTICLE XII AS STATED BELOW: ARTICLE XII ADVISORY BOARD I. CREATION. THE BOARD OF DIRECTORS MAY, BY A MAJORITY VOTE, ESTABLISH MULTIPLE ADVISORY BOARDS IN LOCATIONS WHERE THE CORPORATION CONDUCTS BUSINESS. EACH ADVISORY BOARD SHALL BE DEEMED A SEPARATE BODY FROM THE BOARD OF DIRECTORS. 1) VOTING. ADVISORY BOARD MEMBERS SHALL NOT BE ENTITLED TO VOTE ON GENERAL MATTERS, BUT WILL HAVE THE FOLLOWING VOTING RIGHTS. ADVISORY BOARD MEMBERS CAN ONLY VOTE ON ITEMS BROUGHT BY THE BOARD OF DIRECTORS FOR THE COMMENCEMENT OF HOUSING PROJECTS IN THE ADVISORY BOARD'S LOCAL MARKET. APPROVAL BY THE ADVISORY BOARD (BY A MAJORITY VOTE) SHALL BE REQUIRED FOR THE COMMENCEMENT OF SUCH PROJECTS. 2) NUMBER OF MEMBERS. EACH ADVISORY BOARD SHALL BE COMPRISED OF AT LEAST THREE (3) MEMBERS. 3) PURPOSE. EACH ADVISORY BOARD SHALL REPRESENT THE NEEDS OF THE LOW-INCOME COMMUNITY SERVED BY THE CORPORATION. THE ADVISORY BOARD SHALL ALSO SEEK TO ENHANCE THE CORPORATION'S ACCESS TO VALUABLE RESOURCES, AND SHALL ENDEAVOR TO CONNECT THE CORPORATION TO POTENTIAL DONORS, PHILANTHROPIC INSTITUTIONS AND OTHER FUNDING SOURCES. 4) ELIGIBILITY. AT LEAST ONE-THIRD (1/3) OF THE MEMBERSHIP OF EACH ADVISORY BOARD MUST MEET ONE OR MORE OF THE FOLLOWING REQUIREMENTS: (I) MEMBER LIVES IN A LOW-INCOME COMMUNITY WHERE 51% OR MORE OF THE RESIDENTS ARE LOW INCOME (THIS RESIDENT DOES NOT HAVE TO BE LOW INCOME); (II) MEMBER IS A LOW-INCOME RESIDENT OF THE COMMUNITY; OR (III) MEMBER IS ELECTED BY A LOW-INCOME NEIGHBORHOOD ORGANIZATION TO SERVE ON THE ADVISORY BOARD. 5) MEETINGS. MEMBERS OF THE LOCAL ADVISORY BOARD SHALL COLLECTIVELY MEET WITH THE CORPORATION'S LOCAL AREA DIRECTOR, AT LEAST ON A QUARTERLY BASIS. 6) RENEWAL OF TERMS. EACH MEMBER OF AN ADVISORY BOARD SHALL SERVE A ONE (1) YEAR TERM, RENEWABLE BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS. 7) REMOVAL. ANY MEMBER OF AN ADVISORY BOARD MAY BE REMOVED FOR ANY REASON BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B THE FEDERAL FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM WITH THE ASSISTANCE OF THE CFO. THE CFO REVIEWS/APPROVES THE FORM 990. THE CFO SENDS A COPY OF THE FORM 990 TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND FINAL APPROVAL. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 A COPY OF THE GOVERNING DOCUMENTS MAY BE OBTAINED BY CONTACTING THE ORGANIZATION AT THE FOLLOWING ADDRESS: BUILDERS OF HOPE, INC. 310 N. HARRINGTON STREET RALEIGH, NC 27603