Virginia Beach Community Development Corporation

Organization Overview

Virginia Beach Community Development Corporation is located in Virginia Beach, VA. The organization was established in 1987. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Virginia Beach Community Development Corporation employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Beach 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 06/2022, Virginia Beach Community Development Corporation generated $7.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $7.4m during the year ending 06/2022. While expenses have increased by 1.3% per year over the past 8 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE HOUSING FOR LOW AND MODERATE INCOME FAMILIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PERMANENT RENTAL HOUSING FUNDS INCLUDE INCOME AND EXPENSES DIRECTLY ASSOCIATED WITH THE RENTAL OF AFFORDABLE LOW-INCOME HOUSING UNDER NOAH, HOME, HOUSING FIRST, BIZNET, ATLANTIS MANOR, CAPE HENRY, OCEAN TRACE, BEACH PARK AND BEACH PARK WEST APARTMENT PROJECTS. IN ADDITION, VETERANS FIRST HOUSING ASSISTANCE, SUPPORT SERVICES FOR VETERANS FAMILIES (SSVF) GRANT ACTIVITY, PROJECT DEVELOPMENT FEE INCOME AND INVESTMENT ACTIVITY ARE RECORDED UNDER PERMANENT RENTAL HOUSING FUNDS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Applied Pressure Llc
Home Renovations/services
$127,986
For Kids Inc
Ssvf Subcontractor
$287,998
New Indoor Comfort Llc
Maintenance And Repairs
$113,515
Pr Landscaping
Maintenance And Repairs
$113,020
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$2,612,649
Investment income $25,850
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$28,610
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $7,614,457

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Virginia Beach Community Development Corporation
Virginia Beach, VA
$7,614,457

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