Southern Virginia Development Corporation Inc
- Assets
- $1.0m
- Revenue
- $280.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Emporia, VA
- Founding
- 09/1995
- Data as of
- 06/2021
- EIN
- 54-1678996
Organization Overview
Southern Virginia Development Corporation Inc is located in Emporia, VA. The organization was established in 1995. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, 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. Southern Virginia Development Corporation 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 06/2021, Southern Virginia Development Corporation Inc generated $280.9k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $196.8k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE THE QUALITY OF LIFE FOR LOW AND MIDDLE INCOME CITIZENS IN GREENSVILLE COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CREATING DWELLING UNITS FOR LOW AND MIDDLE INCOME CITIZENS AND IMPROVING THE QUALITY OF EXISTING RESIDENTIAL UNITS OCCUPIED BY LOW AND MIDDLE INCOME CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert E Cain Vice-Chairma | OfficerTrustee | 1 | $0 |
Robert Smith Chairman | OfficerTrustee | 1 | $0 |
Gary Cifers Treasurer | OfficerTrustee | 1 | $0 |
Juanita Jefferson Secretary | OfficerTrustee | 1 | $0 |
Belinda Astrop Director | Trustee | 1 | $0 |
Felecia Lawson-Waller Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $250,371 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,450 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $260,821 |
| Total Program Service Revenue | $40,568 |
| Investment income | $21 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$20,489 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $280,921 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $138,233 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,212 |
| Fees for services: Accounting | $5,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $965 |
| Advertising and promotion | $1,196 |
| Office expenses | $469 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,779 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $196,766 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $258,181 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $448,299 |
| Inventories for sale or use | $299,554 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,006,034 |
| Accounts payable and accrued expenses | $3,608 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $210,114 |
| Other liabilities | $23,996 |
| Total liabilities | $237,718 |
| Net assets without donor restrictions | $768,316 |
| Net assets with donor restrictions | $0 |
| 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 | $1,006,034 |
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|---|---|---|
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Housing Initiative Partnership Inc Hyattsville, MD | $6,736,869 | $3,837,345 |
National Community Stabilization Trust Llc Washington, DC | $3,856,254 | $2,826,968 |
Promise Development Corporation Memphis, TN | $5,823,077 | $3,033,896 |
Habitat For Humanity International Inc Fredericksburg, VA | $1,919,221 | $2,299,173 |
Housing Oriented Ministries Established For Services Inc Whitesburg, KY | $4,625,979 | $1,907,969 |
Crossroads Corp For Affordable Housing And Community Dev Inc Charlotte, NC | $3,590,675 | $1,496,977 |
Rebuilding Together Montgomery County Inc Gaithersburg, MD | $841,323 | $1,634,994 |
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