Virginia United Methodist Housing Development Corporation

Nonprofit profile at a glance

EIN
521258679
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Alexandria, VA, USA
Phone
5403446861
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Christianity

Reported finances

Revenue
$4,945,778
Expenses
$1,259,161
Assets
$30,139,967
Liabilities
$10,898,195

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

Leadership & pay

11 people listed

Executive titles in this filing

  • Dr James G O'Quinn (Vice President)
  • Larry Dickenson (President)

Highest reported compensation

  • Larry Dickenson (President): $60,000 total reported compensation
  • Rev Ernest Herndon Jr (Secretary): $7,200 total reported compensation
  • Dr James G O'Quinn (Vice President): $3,600 total reported compensation

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

Overview

Mission

The mission of the virginia united methodist housing development corporation ("vumhdc") is to serve low to moderate income persons in virginia by developing, owning, operating and sustaining quality affordable housing communities and to partner with and assist others seeking to engage in that mission.

What it reported doing in 2024

Vumhdc owns and operates sixteen affordable properties and partners in eighteen other affordable properties in partnership with other private market developers. These properties offer approximately 1,962 housing units that are classified as "affordable" through various programs sponsored by HUD and VHDA. these properties are open to any and all people who qualify under the applicable affordable housing programs.

Operating model

Revenue model
Other-operating. 86% of the money available for current operations came from other operating revenue.
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

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

Rating breakdown

  • Financial Efficiency: 40
  • Transparency & Controls: 100
  • Accountability: 80
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33.8%; rating input score 34
  • Program expense ratio: 64%; rating input score 64
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 72.7%; rating input score 73; 12th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 74.5%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 23.94; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 20.3% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 21.5% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 17.1% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 33.8% of revenue deployed · 64% of spending went to programs
  • Governance: 8 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $805K in reported program spending
  • Leadership: top reported pay $60K · 11 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 18 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 34/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.