Fchc Virginia Community Development Corporation
- Assets
- $7.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 1
- Location
- Falls Church, VA
- Founding
- 07/1982
- Data as of
- 12/2023
- EIN
- 52-1253695
Organization Overview
Fchc Virginia Community Development Corporation is located in Falls Church, VA. The organization was established in 1982. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fchc Virginia Community Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Fchc Virginia Community Development Corporation generated $1.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. While expenses have increased by 2.1% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND CREATE MORE AFFORDABLE RENTAL HOUSING AND PROVIDE PREDEVELOPMENT FUNDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH ITS OWNERSHIP IN WINTER HILL APARTMENTS (AS THE CONTROLLING MEMBER OF FALLS CHURCH WINTER HILL, LLC, THE OWNING ENTITY OF THE PROPERTY), THE CORPORATION PROVIDED 83 UNITS OF AFFORDABLE HOUSING FOR LOW INCOME PERSONS AND THEIR FAMILIES. THE CORPORATION PROVIDES FUNDING FOR THE RESIDENT SERVICES PROGRAMMING TO THESE INDIVIDUALS.
THE CORPORATION PROVIDES PRE-DEVELOPMENT/ACQUISITION/BRIDGE LOANS TO FOSTER THE DEVELOPMENT OF AFFORDABLE HOUSING PROPERTIES IN THE WASHINGTON D.C. METRO AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard F Burns President | OfficerTrustee | 2 | $0 |
Thomas G Vaccaro COO And Secretary | OfficerTrustee | 40 | $273,654 |
Dong Bui Board Member | Trustee | 1 | $0 |
Joseph P Wiedorfer Vice President | Officer | 2 | $0 |
Stephen M Green Vice President | Officer | 1 | $0 |
Alla Eleon Treasurer And Cao | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,083,806 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,083,806 |
| Total Program Service Revenue | $720,662 |
| Investment income | $76,156 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,880,624 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $273,654 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $237,737 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $69,123 |
| Payroll taxes | $33,036 |
| Fees for services: Management | $53,510 |
| Fees for services: Legal | $246 |
| Fees for services: Accounting | $22,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,788 |
| Office expenses | $41,141 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $136,181 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $329,401 |
| Payments to affiliates | $65,000 |
| Depreciation, depletion, and amortization | $131,156 |
| Insurance | $63,543 |
| All other expenses | $0 |
| Total functional expenses | $1,767,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $462,881 |
| Savings and temporary cash investments | $1,587,293 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $137,926 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,982,237 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $20,265 |
| Net Land, buildings, and equipment | $3,407,115 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,597,717 |
| Accounts payable and accrued expenses | $117,351 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $6,758,734 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $110,807 |
| Total liabilities | $6,986,892 |
| Net assets without donor restrictions | $480,825 |
| Net assets with donor restrictions | $130,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,597,717 |
Grants Awarded
Over the last fiscal year, Fchc Virginia Community Development Corporation has awarded $25,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF FALLS CHURCH PURPOSE: HOUSING INTERNS TO SUPPORT OVERALL HOUSING ACTIVITIES IN THE CITY OF FALLS CHURCH. | $10,000 |
NHP FOUNDATION PURPOSE: AFFORDABLE HOUSING SYMPOSIUM EVENT. | $15,000 |