Virginia Housing and Community Development Corporation

Nonprofit profile at a glance

EIN
200779486
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2022, Form 990-PF 2017
Location
Suffolk, VA, USA
Phone
8669315760
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Alliance/Advocacy Organizations

Official website

Reported finances

Revenue
$375,069
Expenses
$168,924
Assets
$459,183
Liabilities
$112,609

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

Leadership & pay

8 people listed

Executive titles in this filing

  • JAMES R TAYLOR III (President)
  • Katrina S Taylor (Vice President)

People named in this filing

  • JAMES R TAYLOR III (President)
  • Katrina S Taylor (Vice President)
  • Glenda Whyte (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The community development mission of Virginia housing and community development corporation vchdc is to educate and empower individuals, families and minority business owners to build wealth, access capital and credit, and achieve home ownership. Vhcdc achieves this mission through a steady stream of wealth building initiatives, home ownership education and assistance, small business financings and acquiring and rehabilitating distressed housing in targeted communities

What it reported doing in 2024

The community development mission of Virginia housing and community development corporation vhcdc is to educate and empower individuals families and minority business owners to build wealth access capital and credit and achieve home ownership

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 92
  • Accountability: 50
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 84.9%; rating input score 85
  • Fundraising efficiency: $9.36 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 55%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 2.72; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 15.8% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 48.5% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 13.3% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 84.9% of spending went to programs
  • Governance: 6 of 8 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $143K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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: Governance controls: 6 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.