Virginia Community Capital Inc
- Assets
- $56.4m
- Revenue
- $9.5m
- Investments
- $2.6m
- Employees
- 109
- Location
- Christiansburg, VA
- Founding
- 12/1999
- Data as of
- 12/2021
- EIN
- 54-1754009
Organization Overview
Virginia Community Capital Inc is located in Christiansburg, VA. The organization was established in 1999. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Virginia Community Capital Inc employed 109 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Community Capital 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 12/2021, Virginia Community Capital Inc generated $9.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $5.9m during the year ending 12/2021. While expenses have increased by 6.4% 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.
Since 2020, Virginia Community Capital Inc has awarded 17 individual grants totaling $1,643,803. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO OFFER INNOVATIVE, FLEXIBLE FINANCIAL PRODUCTS DESIGNED TO SUPPORT HOUSING AND COMMUNITY DEVELOPMENT VENTURES, INCREASE JOBS AND BUILD SUSTAINABLE COMMUNITIES. VCC OFFERS LOAN CAPITAL THAT IS BROADER THAN BANK LENDING TO PROJECTS THAT HAVE A POSITIVE IMPACT IN LOW TO MODERATE INCOME COMMUNITIES IN UNDERSERVED GEOGRAPHIES AND MARKETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AID COMMUNITY DEVELOPMENT PY PROVIDING LOANS, LOAN GUARANTEES AND OTHER FORMS OF DEBT OR EQUITY FINANCING FOR COMMUNITY AND BUSINESS ORGANIZATIONS, AS WELL AS TO PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO BUSINESS OWNERS AND MANAGERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Waldrop President - Vcc Lending | Officer | 24 | $116,386 |
Jane Henderson President & CEO | OfficerTrustee | 24 | $113,232 |
Clyde Cornett Jr Evp & CFO | Officer | 24 | $98,572 |
Tammy Jackson Chief Human Capital Officer | Officer | 24 | $87,548 |
Peter Taylor Chief Information Officer | 20 | $83,496 | |
William Groves Senior Vice President - Vcc | Officer | 24 | $68,146 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Imperial Real Estate Holding Dba Carouse Rental Services | 12/30/18 | $175,495 |
Elliott Davis Accounting Services | 12/30/18 | $116,622 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,151,687 |
| 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 | $6,151,687 |
| Total Program Service Revenue | $1,960,228 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$20,588 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,502,783 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,581,408 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,440,580 |
| Pension plan accruals and contributions | $69,477 |
| Other employee benefits | $223,568 |
| Payroll taxes | $163,095 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,703 |
| Fees for services: Accounting | $67,496 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $392,335 |
| Advertising and promotion | $95,442 |
| Office expenses | $304,089 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $167,142 |
| Travel | $48,109 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $644,399 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $134,438 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,939,072 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,868,801 |
| Pledges and grants receivable | $563,334 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $45,903,643 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $539,867 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,557,500 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $988,549 |
| Total assets | $56,421,694 |
| Accounts payable and accrued expenses | $629,136 |
| Grants payable | $0 |
| Deferred revenue | $7,844,375 |
| 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 | $1,847,134 |
| Unsecured mortgages and notes payable | $30,566,032 |
| Other liabilities | $420,186 |
| Total liabilities | $41,306,863 |
| Net assets without donor restrictions | $6,482,764 |
| Net assets with donor restrictions | $8,632,067 |
| 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 | $56,421,694 |
Grants Awarded
Over the last fiscal year, Virginia Community Capital Inc has awarded $1,225,001 in support to 13 organizations.
| Grant Recipient | Amount |
|---|---|
CAMEO STREET LLC PURPOSE: CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING | $500,000 |
VCC BANK PURPOSE: SMALL BUSINESS DEBT RELIEF PROGRAM - COVID 19 | $354,635 |
COMMONS AT WHITEFIELD LLC PURPOSE: CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING | $100,000 |
PINECREST PRESERVATION LLC PURPOSE: CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING | $50,000 |
BRADDOCK FOUR LP PURPOSE: CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING | $50,000 |
Norfolk, VA PURPOSE: CAPITAL MAGNET GRANT TO SUPPORT AFFORDABLE HOUSING | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Virginia Community Capital Inc has recieved totaling $425,000.
| Awarding Organization | Amount |
|---|---|
Tides Foundation San Francisco, CA PURPOSE: EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT | $250,000 |
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $175,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ltc Reinsurance Pcc Washington, DC | $361,855,078 | $23,669,640 |
Urac Washington, DC | $81,439,201 | $26,248,621 |
Virginia Equine Alliance Warrenton, VA | $24,647,483 | $20,710,903 |
North American Meat Institute Washington, DC | $15,669,601 | $11,771,364 |
Yaplus Arlington, VA | $14,080,198 | $11,268,285 |
Structured Finance Industry Group Inc Washington, DC | $15,991,884 | $10,124,152 |
Virginia Utility Protection Service Inc Roanoke, VA | $16,444,690 | $8,907,059 |
The Esop Association Of America Washington, DC | $3,829,140 | $6,835,411 |
Ccdc Common Area Association Washington, DC | $638,394 | $6,311,818 |
Virginia Community Capital Inc Christiansburg, VA | $56,421,694 | $9,502,783 |
Trustworthy Accountability Group Inc Washington, DC | $9,890,254 | $6,100,176 |
Us-Asean Business Council Inc Washington, DC | $3,403,596 | $5,619,066 |