Victory Housing Inc
- Assets
- $43.9m
- Revenue
- $9.9m
- Investments
- $827.0k
- Employees
- 238
- Location
- Rockville, MD
- Founding
- 10/1982
- Data as of
- 06/2022
- EIN
- 52-1261881
Organization Overview
Victory Housing Inc is located in Rockville, MD. The organization was established in 1982. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Victory Housing Inc employed 238 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Victory Housing Inc 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 06/2022, Victory Housing Inc generated $9.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.9% each year . All expenses for the organization totaled $6.2m during the year ending 06/2022. While expenses have increased by 18.0% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING AND RELATED SERVICES TO LOW/MODERATE-INCOME SENIORS AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSET MANAGEMENT OF AFFORDABLE HOUSING PROJECTS & AFFORDABLE HOUSING PROJECT DEVELOPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald C Tomasso Director | Trustee | 1 | $0 |
Donna Grigsby Director | Trustee | 1 | $0 |
Jane Belford Director | Trustee | 1 | $0 |
Jay Pope Director | Trustee | 1 | $0 |
Julie Smith Chairman | OfficerTrustee | 1 | $0 |
Michael G Gill Director & Corporation Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wiencek Assoc Architects & Planners Architectural | 6/29/18 | $1,182,815 |
Grimm & Parker Architects Architectural | 6/29/18 | $297,234 |
Soltesz Inc Engineering | 6/29/18 | $125,339 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $599,305 |
| Government grants | $1,635,613 |
| All other contributions, gifts, grants, and similar amounts not included above | $143,887 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,378,805 |
| Total Program Service Revenue | $6,242,037 |
| Investment income | $617,357 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $507,582 |
| Net Gain/Loss on Asset Sales | $131,712 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,895,856 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,227,222 |
| Compensation of current officers, directors, key employees. | $231,154 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,090,649 |
| Pension plan accruals and contributions | $93,523 |
| Other employee benefits | $103,876 |
| Payroll taxes | $153,470 |
| Fees for services: Management | $78,151 |
| Fees for services: Legal | $57,876 |
| Fees for services: Accounting | $23,002 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $672 |
| Office expenses | $96,787 |
| Information technology | $96,688 |
| Royalties | $0 |
| Occupancy | $198,529 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,803 |
| Interest | $89,230 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $115,955 |
| Insurance | $39,388 |
| All other expenses | $13,986 |
| Total functional expenses | $6,241,056 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $10,831,913 |
| Pledges and grants receivable | $761,782 |
| Accounts receivable, net | $152,190 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,957,027 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $30,825 |
| Net Land, buildings, and equipment | $3,517,659 |
| Investments—publicly traded securities | $8,108,939 |
| Investments—other securities | $827,012 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,687,425 |
| Total assets | $43,875,072 |
| Accounts payable and accrued expenses | $365,476 |
| Grants payable | $0 |
| Deferred revenue | $1,930 |
| 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 | $12,254,888 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $48,323 |
| Total liabilities | $12,670,617 |
| Net assets without donor restrictions | $31,122,698 |
| Net assets with donor restrictions | $81,757 |
| 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 | $43,875,072 |