Rosslyn Ridge Development Corporation
- Assets
- $3.7m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 1
- Location
- Arlington, VA
- Founding
- 01/1996
- Data as of
- 12/2023
- EIN
- 54-1782087
Organization Overview
Rosslyn Ridge Development Corporation is located in Arlington, VA. The organization was established in 1996. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Rosslyn Ridge 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, Rosslyn Ridge Development Corporation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY AFFORDABLE HOUSING AND RESIDENT-CENTERED PROGRAMMING TO HELP OUR RESIDENTS MAKE THE MOST OF THEIR HOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROSSLYN RIDGE DEVELOPMENT CORPORATION PROVIDES 284 UNITS FOR LOW TO MODERATE INCOME INDIVIDUALS AND FAMILIES. ROSSLYN RIDGE DEVELOPMENT CORPORATION IS A CHDO, REGISTERED IN ARLINGTON COUNTY AND THE SOLE MEMBER OF ARNA MARBELLA GP DEVELOPMENT CORPORATION, MARBELLA DEVELOPMENT LLC AND AVV APARTMENTS LLC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carmen Romero President / Director / CEO | OfficerTrustee | 1 | $0 |
Buzz Roberts Treasurer / Director | OfficerTrustee | 1 | $0 |
Randy Anderson Secretary / Director | OfficerTrustee | 1 | $0 |
Matt Birenbaum Director | Trustee | 1 | $0 |
Keiva Dennis Community Member / Directo | Trustee | 1 | $0 |
Ted Hicks Community Member / Directo | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $695,432 |
| Investment income | $3,243 |
| 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 | $1,155,616 |
| 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. | $339,486 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,835 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,162 |
| Payroll taxes | $0 |
| Fees for services: Management | $25,132 |
| Fees for services: Legal | $7,634 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,649 |
| Advertising and promotion | $0 |
| Office expenses | $6,981 |
| Information technology | $2,015 |
| Royalties | $0 |
| Occupancy | $64,308 |
| Travel | $1,952 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $272,346 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,326,225 |
| Insurance | $23,694 |
| All other expenses | $55,504 |
| Total functional expenses | $2,615,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,994 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,747 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $16,608 |
| Net Land, buildings, and equipment | $3,186,369 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $116,558 |
| Intangible assets | $0 |
| Other assets | $236,407 |
| Total assets | $3,731,683 |
| Accounts payable and accrued expenses | $12,282 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $29,341 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,490,869 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $272,420 |
| Total liabilities | $3,804,912 |
| Net assets without donor restrictions | -$73,229 |
| 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 | $3,731,683 |