Fchc Virginia Community Development Corporation

Nonprofit profile at a glance

EIN
521253695
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Falls Church, VA, USA
Phone
7032415402
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Official website

Reported finances

Revenue
$1,738,696
Expenses
$1,796,980
Assets
$7,398,725
Liabilities
$6,846,184

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • RICHARD F BURNS (PRESIDENT)
  • JOSEPH P WIEDORFER (VICE PRESIDENT)
  • STEPHEN M GREEN (VICE PRESIDENT)
  • FREDERICK MITCHELL (SENIOR VICE PRESIDENT)

Highest reported compensation

  • RICHARD F BURNS (PRESIDENT): $760,054 total reported compensation
  • STEPHEN M GREEN (VICE PRESIDENT): $517,569 total reported compensation
  • FREDERICK MITCHELL (SENIOR VICE PRESIDENT): $316,598 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To expand and improve housing opportunities for low- and moderate-income households in the Washington d.c. Metro area, including providing loans for the predevelopment and acquisition of affordable housing properties.

What it reported doing in 2024

Through its ownership in winter hill apartments (as the controlling member of falls church winter hill, llc, the owning entity of the property), the corporation provided 83 units of affordable housing for low income persons and their families. The corporation provides funding for the resident services programming to these individuals.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 79
  • Accountability: 38
  • Sustainability: 39
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93%; rating input score 93
  • Program expense ratio: 89.5%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 25%; rating input score 25; 10th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -3.4%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 4.12; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 20.7%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: -1.9% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: -0.5% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 93% of revenue deployed · 89.5% of spending went to programs
  • Governance: 1 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $760K · 7 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 119 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 25/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.