Richmond Affordable Housing
- Assets
- $22.5m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 12/1997
- Data as of
- 12/2023
- EIN
- 54-1860225
Organization Overview
Richmond Affordable Housing is located in Richmond, VA. The organization was established in 1997. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is the central organization for a national or regional group of organizations. Richmond Affordable Housing 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, Richmond Affordable Housing generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 9.7% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED HOUSING TO LOW-INCOME HOMEOWNERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greta Harris President & CEO | Officer | 0 | $0 |
Julie Hovermale Vice President & CFO | Officer | 0 | $0 |
Matt Scaparro VP Of Property Management | Officer | 0 | $0 |
Lee Alford Dir. Of Multi-Family Develop. | Officer | 0 | $0 |
Stacie Birchett VP Of Resource Development | Officer | 0 | $0 |
Todd Waldo Chair & Director | OfficerTrustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fg Pruitt Inc General Contractor | 12/30/23 | $630,640 |
Eunju Jim Starbuck General Contractor | 12/30/23 | $527,496 |
Square 1 Roofing Llc General Contractor | 12/30/23 | $497,826 |
Timmons Group Inc Engineer | 12/30/23 | $344,215 |
Edward Hwinks-james Dsnowa Architect | 12/30/23 | $260,055 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $645,569 |
| 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 | $645,569 |
| Total Program Service Revenue | $1,848,308 |
| Investment income | $140,097 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $164,145 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,883,336 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $98,000 |
| Grants and other assistance to domestic individuals. | $30,000 |
| 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 | $621,737 |
| Pension plan accruals and contributions | $17,947 |
| Other employee benefits | $76,877 |
| Payroll taxes | $51,342 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,887 |
| Fees for services: Accounting | $19,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,158 |
| Office expenses | $103,686 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,043 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,564 |
| Interest | $154,261 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $100,146 |
| Insurance | $46,767 |
| All other expenses | $121,141 |
| Total functional expenses | $2,400,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,207,315 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $65,753 |
| 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 | $2,918 |
| Net Land, buildings, and equipment | $4,764,903 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,457,524 |
| Total assets | $22,498,413 |
| Accounts payable and accrued expenses | $21,355 |
| Grants payable | $0 |
| Deferred revenue | $1,628,853 |
| 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 | $219,892 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,456,421 |
| Total liabilities | $14,326,521 |
| Net assets without donor restrictions | $8,171,892 |
| 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 | $22,498,413 |
Grants Awarded
Over the last fiscal year, Richmond Affordable Housing has awarded $173,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BETTER HOUSING COALITION PURPOSE: See Part IV | $98,000 |
ELDER HOMES CORPORATION DBA PROJECT HOMES PURPOSE: See Part IV | $75,000 |