Rosslyn Ridge Development Corporation
- Assets
- $26.0m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 1
- Location
- Arlington, VA
- Founding
- 01/1996
- Data as of
- 12/2021
- 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 12/2021, Rosslyn Ridge Development Corporation generated $3.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $3.5m during the year ending 12/2021. While expenses have increased by 1.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP, PRESERVE, AND OWN QUALITY, AFFORDABLE PLACES TO LIVE; CONTINUED ON SCHEDULE OTO PROMOTE STABILITY AND OPPORTUNITY FOR OUR RESIDENTS; AND TO ADVOCATE WITH THE PEOPLE AND COMMUNITIES WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROSSLYN RIDGE DEVELOPMENT CORPORATION PROVIDES 235 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 MARBELLA DEVELOPMENT LLC AND AVV APARTMENTS LLC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Chiappa Vice President / Vice President Of Real Estate | Officer | 35 | $116,500 |
Carmen Romero President / Director / CEO | OfficerTrustee | 1 | $0 |
Rich Jordan Treasurer / Director | OfficerTrustee | 1 | $0 |
Kevin Yam Secretary / Director | OfficerTrustee | 1 | $0 |
Kyle Mccandless Assistant Treasurer / CFO | Officer | 1 | $0 |
Kelly Eichhorn Assistant Treasurer / COO | Officer | 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 | $3,677,412 |
| Investment income | $1,047 |
| 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 | $3,678,459 |
| 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. | $116,500 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $238,851 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,599 |
| Payroll taxes | $0 |
| Fees for services: Management | $114,195 |
| Fees for services: Legal | $7,459 |
| Fees for services: Accounting | $24,805 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,310 |
| Advertising and promotion | $976 |
| Office expenses | $25,025 |
| Information technology | $3,216 |
| Royalties | $0 |
| Occupancy | $288,046 |
| Travel | $1,240 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,032,489 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $437,550 |
| Insurance | $102,577 |
| All other expenses | $0 |
| Total functional expenses | $3,470,782 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $727,183 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $220,315 |
| 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 | $52,867 |
| Net Land, buildings, and equipment | $24,147,973 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $65,977 |
| Intangible assets | $216,675 |
| Other assets | $596,625 |
| Total assets | $26,027,615 |
| Accounts payable and accrued expenses | $46,982 |
| 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 | $26,197,987 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,069,151 |
| Total liabilities | $27,314,120 |
| Net assets without donor restrictions | -$1,286,505 |
| 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 | $26,027,615 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
Enterprise Community Loan Fund Inc Columbia, MD | $332,804,742 | $25,996,753 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |
National Lutheran Inc Frederick, MD | $5,736,572 | $7,111,650 |
Transitional Housing Corporation Washington, DC | $11,247,775 | $11,673,050 |
Virginia Supportive Housing Richmond, VA | $30,778,021 | $11,444,363 |
Habitat For Humanity International Inc Memphis, TN | $13,622,959 | $12,248,424 |
Redwood Housing Inc North Bethesda, MD | $20,814,666 | $9,748,902 |
Housing Partnership Inc Louisville, KY | $43,644,315 | $10,025,390 |