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← FCHC VIRGINIA COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by FCHC VIRGINIA COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$1,593,003
Total expenses
$1,793,181
Contributions and grants received
$982,455
Grants paid
$10,000
Program service revenue
$610,146
Investment income
$402
Other revenue
$0
Total assets, end of year
$7,630,224
Total liabilities, end of year
$7,132,138
Net assets or fund balances, end of year
$498,086
Program services expenses (Part IX)
$1,619,953
Management and general expenses
$173,228
Fundraising expenses
$0
Program service expenses (Part III)
$1,619,953

Program services were 90.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $982,455

  • 2a · Program service revenue: RENTAL INCOME

    total $535,264 · related or exempt $535,264

  • 2b · Program service revenue: LOAN INTEREST INCOME

    total $67,990 · related or exempt $67,990

  • 2c · Program service revenue: OTHER INCOME

    total $3,757 · related or exempt $3,757

  • 2d · Program service revenue: LAUNDRY & VENDING

    total $1,960 · related or exempt $1,960

  • 2e · Program service revenue: TENANT CHARGES

    total $1,175 · related or exempt $1,175

  • 3 · Investment income

    total $402 · excluded $402

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000 · program services $10,000

  • 5 · Compensation of officers, directors and key employees

    total $241,060 · program services $241,060

  • 6 · Compensation of disqualified persons

    total $254,182 · program services $254,182

  • 7 · Other salaries and wages

    total $70,962 · program services $70,962

  • 10 · Payroll taxes

    total $32,129 · program services $32,129

  • 11a · Fees: management

    total $52,341 · management and general $52,341

  • 11b · Fees: legal

    total $945 · management and general $945

  • 11c · Fees: accounting

    total $23,587 · management and general $23,587

  • 12 · Advertising and promotion

    total $750 · management and general $750

  • 13 · Office expenses

    total $28,545 · management and general $28,545

  • 16 · Occupancy

    total $141,065 · program services $141,065

  • 17 · Travel

    total $1,681 · management and general $1,681

  • 20 · Interest

    total $335,696 · program services $335,696

  • 21 · Payments to affiliates

    total $75,000 · program services $10,000 · management and general $65,000

  • 22 · Depreciation, depletion and amortization

    total $130,095 · program services $130,095

  • 23 · Insurance

    total $59,157 · program services $59,157

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $274,126 · program services $274,126

  • 24b · Other expenses: GROUNDS EXPENSE

    total $45,406 · program services $45,406

  • 24c · Other expenses: RESIDENT PROMOTIONS

    total $12,132 · program services $12,132

  • 24d · Other expenses: TAXES & LICENSES

    total $3,882 · program services $3,562 · management and general $320

  • 24e · All other expenses

    total $440 · program services $381 · management and general $59

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,951,672 · end of year $1,857,591

  • 2 · Savings and temporary cash investments

    beginning of year $299,198 · end of year $334,302

  • 4 · Accounts receivable

    beginning of year $7,373 · end of year $5,709

  • 7 · Other notes and loans receivable

    beginning of year $39,839 · end of year $1,887,846

  • 9 · Prepaid expenses and deferred charges

    beginning of year $19,230 · end of year $25,605

  • 10a · Land, buildings and equipment: cost or other basis

    $6,689,354

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,170,183

  • 10c · Land, buildings and equipment, net

    beginning of year $3,649,266 · end of year $3,519,171

  • 17 · Accounts payable and accrued expenses

    beginning of year $109,326 · end of year $143,533

  • 21 · Escrow or custodial account liability

    beginning of year $50,564 · end of year $53,805

  • 23 · Secured mortgages and notes payable

    beginning of year $7,002,464 · end of year $6,883,735

  • 25 · Other liabilities

    beginning of year $106,035 · end of year $51,065

  • 27 · Net assets without donor restrictions

    beginning of year $698,189 · end of year $498,086

Mission and programs · 2022

Mission

TO EXPAND AND IMPROVE HOUSING OPPORTUNITIES FOR LOW- AND MODERATE-INCOME HOUSEHOLDS IN WASHINGTON METRO AREA, INCLUDING PROVIDING LOANS FOR THE PREDEVELOPMENT AND ACQUISITION OF AFFORDABLE HOUSING PROPERTIES.

Activities or mission (Part I)

TO PRESERVE AND CREATE MORE AFFORDABLE RENTAL HOUSING AND PROVIDE PREDEVELOPMENT FUNDING.

  • 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.

    Expenses $1,217,939 · Revenue $503,156

  • THE CORPORATION PROVIDES PRE-DEVELOPMENT/ACQUISITION/BRIDGE LOANS TO FOSTER THE DEVELOPMENT OF AFFORDABLE HOUSING PROPERTIES IN THE WASHINGTON METRO AREA.

    Expenses $402,014 · Grants $10,000 · Revenue $106,990

As filed on the 2022 return.

Listed in Part VII

  • Richard F Burns

    PRESIDENT

    Total calculated
    $715,142
    From this org
    $0
    From related orgs
    $698,152
    Other
    $16,990
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $473,152 related
    Bonus
    $0 + $225,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $16,990 related
    Filer's total
    $0 + $715,142 related

  • Thomas G Vaccaro

    COO AND SECRETARY

    Total calculated
    $277,039
    From this org
    $241,060
    From related orgs
    $0
    Other
    $35,979
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $141,079
    Bonus
    $75,000
    Other
    $24,981
    Deferred
    $2,000
    Nontaxable benefits
    $33,979
    Filer's total
    $277,039

  • Dong Bui

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Joseph P Wiedorfer

    VICE PRESIDENT

    Total calculated
    $297,449
    From this org
    $0
    From related orgs
    $277,541
    Other
    $19,908
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $160,541 related
    Bonus
    $0 + $90,000 related
    Other
    $0 + $27,000 related
    Deferred
    $0 + $2,000 related
    Nontaxable benefits
    $0 + $17,908 related
    Filer's total
    $0 + $297,449 related

  • Stephen M Green

    VICE PRESIDENT

    Total calculated
    $511,926
    From this org
    $0
    From related orgs
    $479,781
    Other
    $32,145
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $292,781 related
    Bonus
    $0 + $160,000 related
    Other
    $0 + $27,000 related
    Deferred
    $0 + $2,000 related
    Nontaxable benefits
    $0 + $30,145 related
    Filer's total
    $0 + $511,926 related

  • Alla Eleon

    TREASURER AND CAO

    Total calculated
    $327,983
    From this org
    $0
    From related orgs
    $301,039
    Other
    $26,944
    Hours/week
    3 + 37 related

    Schedule J breakdown matched by us

    Base
    $0 + $224,039 related
    Bonus
    $0 + $50,000 related
    Other
    $0 + $27,000 related
    Deferred
    $0 + $2,000 related
    Nontaxable benefits
    $0 + $24,944 related
    Filer's total
    $0 + $327,983 related

  • Carlos Gonzales

    SENIOR VICE PRESIDENT

    Total calculated
    $277,838
    From this org
    $0
    From related orgs
    $261,998
    Other
    $15,840
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,615 related
    Bonus
    $0 + $75,000 related
    Other
    $0 + $2,383 related
    Deferred
    $0 + $476 related
    Nontaxable benefits
    $0 + $15,364 related
    Filer's total
    $0 + $277,838 related

  • Eric Price

    VICE PRESIDENT

    Total calculated
    $396,590
    From this org
    $0
    From related orgs
    $396,590
    Other
    $0
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $296,590 related
    Bonus
    $0 + $100,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $396,590 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • CITY OF FALLS CHURCH

    $10,000

    HOUSING INTERN TO SUPPORT OVERALL HOUSING ACTIVITIES IN THE CITY OF FALLS CHURCH.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FALLS CHURCH WINTER HILL LLC

    OWNS AND OPERATES AN 83-UNIT RENTAL HOUSING PROJECT · VA · income $130,846 · assets $4,156,776

    Directly controlled by FCHC VIRGINIA COMMUNITY DEVELOPMENT COMPANY

  • WINTER HILL MEMBER LLC

    AFFORDABLE HOUSING · VA

    Directly controlled by FCHC VIRGINIA COMMUNITY DEVELOPMENT COMPANY

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 250 LP PEPPER TREE MANOR LP

    AFFORDABLE HOUSING · TX

  • ALABAMA AVE AFFORDABLE HOUSING LP

    AFFORDABLE HOUSING · DC

  • BAYVIEW PRESERVATION PARTNERS LIMITED PARTNERSHIP

    AFFORDABLE HOUSING · CT

  • BENNING HEIGHTS INVESTOR LLC

    AFFORDABLE HOUSING · DC

  • BOLTON NORTH LP

    AFFORDABLE HOUSING · MD

  • FOXWOOD PRESERVATION PARTNERS LP

    AFFORDABLE HOUSING · PA

  • HOLLYBUSH PRESERVATION PARTNERS LP

    AFFORDABLE HOUSING · NJ

  • ORANGE PRESERVATION PARTNERS LP

    AFFORDABLE HOUSING · NJ

  • PLAZA BORINQUEN 88 OWNER LP

    AFFORDABLE HOUSING · NY

  • PLAZA BORINQUEN 88 OWNER II LP

    AFFORDABLE HOUSING · NY

  • PRESERVATION HOUSING II LLC

    AFFORDABLE HOUSING · LA

  • PRESERVATION HOUSING IV LLC

    AFFORDABLE HOUSING · LA

  • ST LUKE'S MASTER TENANT LLC

    AFFORDABLE HOUSING · MO

  • ST LUKE'S PRESERVATION PARTNERS LP

    AFFORDABLE HOUSING · MO

  • HARVEST HOMES APARTMENTS LP

    AFFORDABLE HOUSING · IL

  • CLEME MANOR HOLDINGS LLC

    AFFORDABLE HOUSING · TX

  • COLUMBIA APARTMENTS LP

    AFFORDABLE HOUSING · DE

  • COLUMBIA HEIGHTS VILLAGE APARTMENTS LP

    AFFORDABLE HOUSING · DC

  • MARK TWAIN NHPF LLC

    AFFORDABLE HOUSING · IL

  • NANNIE HELEN OWNER LLC

    AFFORDABLE HOUSING · DC

  • SHIP'S COVE PRESERVATION PARTNERS LIMITED PARTNERSHIP

    AFFORDABLE HOUSING · MA

  • TAKOMA PLACE SM LLC

    AFFORDABLE HOUSING · DC

  • WADE ROAD INVESTOR LLC

    AFFORDABLE HOUSING · DC

  • WOODMONT CROSSING INVESTOR LLC

    AFFORDABLE HOUSING · DC

  • 1255 NPO OWNER LLC

    AFFORDABLE HOUSING · DC

  • 1300 NPO OWNER LLC

    AFFORDABLE HOUSING · TX

  • BERRY MANOR OWNER LP

    AFFORDABLE HOUSING · IL

  • CENTER CITY MANAGING MEMBER LLC

    AFFORDABLE HOUSING · NJ

  • CHA JV LLC

    AFFORDABLE HOUSING · MD

  • CHA LLC

    AFFORDABLE HOUSING · MD

  • HOLLANDER RIDGE INVESTOR LLC

    AFFORDABLE HOUSING · MD

  • LOT 13 OWNER LLC (STRAND NEW CHINA CAFE)

    AFFORDABLE HOUSING · DC

  • NANNIE HELEN MANAGER LLC

    AFFORDABLE HOUSING · DC

  • WORKFORCE AFFORDABLE HOUSING FUND I LLC

    AFFORDABLE HOUSING · DE

  • PRINCESS ANNE OWNER LP

    AFFORDABLE HOUSING · MD

  • 17 MISSISSIPPI OWNER LLC

    AFFORDABLE HOUSING · DC

  • ANACOSTIA GARDENS OWNER LLC

    AFFORDABLE HOUSING · DC

  • BLUE MOUNTAIN OWNER LLC

    AFFORDABLE HOUSING · MA

  • NEW CENTER CITY APARTMENTS URBAN RENEWAL LLC

    AFFORDABLE HOUSING · NJ

  • NEW ALEXANDER HOUSE LLC

    AFFORDABLE HOUSING · NJ

  • NEW SUNSET BAY

    AFFORDABLE HOUSING · MD

  • 17 MISSISSIPPI MANAGING MEMBER LLC

    AFFORDABLE HOUSING · DC

  • HERITAGE NOLAND ASSOCIATES LP (CARDINAL RIDGE)

    AFFORDABLE HOUSING · MO

  • CARDINAL RIDGE INVESTORS LLC

    AFFORDABLE HOUSING · MO

  • CARDINAL RIDGE GP LLP

    AFFORDABLE HOUSING · MO

  • CHCDC AFFORDABLE ELDERLY LLC

    AFFORDABLE HOUSING · TX

  • TEMENOS PERMANENT AFFORDABLE LLC

    AFFORDABLE HOUSING · TX

  • EXCHANGE PLACE PRESERVATION PARTNERS LLC

    AFFORDABLE HOUSING · CT

  • IRVINE TURNER MANAGING MEMBER LLC

    AFFORDABLE HOUSING · NJ

  • NEW OVERLOOK OWNER LP

    AFFORDABLE HOUSING · MD

  • BERRY MANOR APARTMENTS LP

    AFFORDABLE HOUSING · IL

  • COVENT APARTMENTS LLC

    AFFORDABLE HOUSING · IL

  • NEW IRVINE TURNER APARTMENTS URBAN RENEWAL LLC

    AFFORDABLE HOUSING · NJ

  • RIDGECREST PHASE 1 OWNER

    AFFORDABLE HOUSING · DC

  • MAGNIFICAT PERMANENT AFFORDABLE LLC

    AFFORDABLE HOUSING · TX

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • BAYVIEW GP INC

    C · AFFORDABLE HOUSING · CT

  • FOXWOOD GP INC

    C · AFFORDABLE HOUSING · PA

  • HOLLYBUSH GP INC

    C · AFFORDABLE HOUSING · DC

  • ORANGE GP INC

    C · AFFORDABLE HOUSING · NY

  • PLAZA BORINQUEN 88 GP CORPORATION

    C · AFFORDABLE HOUSING · NY

  • PRESERVATION HOUSING PARTNERS LLC

    C · AFFORDABLE HOUSING · LA

  • ST LUKE'S GP INC

    C · AFFORDABLE HOUSING · MO

  • VOV- NHPF I LLC

    C · AFFORDABLE HOUSING · DC

  • WALNUT 209 LLC

    C · AFFORDABLE HOUSING · LA

  • NDFD LLC

    C · AFFORDABLE HOUSING · NY

  • HARVEST HOMES GP INC

    C · AFFORDABLE HOUSING · IL

  • BENNING HEIGHTS GP LLC

    C · AFFORDABLE HOUSING · NY

  • WADE ROAD GP LLC (PARKCHESTER)

    C · AFFORDABLE HOUSING · NY

  • CLEME 284 LLC

    C · AFFORDABLE HOUSING · TX

  • MARK TWAIN NHPF MANAGER LLC

    C · AFFORDABLE HOUSING · NY

  • NANNIE HELEN NHPF LLC

    C · AFFORDABLE HOUSING · DC

  • NDFD II LLC (GP OF BOLTON)

    C · AFFORDABLE HOUSING · MD

  • SHIP'S COVE GP INC

    C · AFFORDABLE HOUSING · MA

  • TAKOMA PLACE GP LLC

    C · AFFORDABLE HOUSING · DC

  • WOODMONT CROSSING MANAGER

    C · AFFORDABLE HOUSING · NY

  • CHA MM LLC

    C · AFFORDABLE HOUSING · NY

  • ANACOSTIA GARDENS GP LLC

    C · AFFORDABLE HOUSING · DC

  • CENTER CITY MM LLC

    C · AFFORDABLE HOUSING · NJ

  • EXCHANGE PLACE MM LLC

    C · AFFORDABLE HOUSING · CT

  • IRVINE TURNER MM LLC

    C · AFFORDABLE HOUSING · NJ

  • HOLLANDER RIDGE MANAGER LLC

    C · AFFORDABLE HOUSING · MD

  • PRINCESS ANN GP LLC

    C · AFFORDABLE HOUSING · MD

  • TEMENOS AFFORDABLE MANAGER LLC

    C · AFFORDABLE HOUSING · TX

  • BLUE MOUNTAIN MANAGER LLC

    C · AFFORDABLE HOUSING · MA

  • NEW SUNSET BAY MANAGER LLC

    C · AFFORDABLE HOUSING · FL

  • ALEXANDER HOUSE MANAGING MEMBER LLC

    C · AFFORDABLE HOUSING · MD

  • CH AFFORDABLE MANAGER LLC

    C · AFFORDABLE HOUSING · TX

  • NHPF MISSISSIPPI MANAGER LLC

    C · AFFORDABLE HOUSING · DC

  • BERRY MANOR NHPF LLC

    C · AFFORDABLE HOUSING · IL

  • COVENT NHPF MANAGER LLC

    C · AFFORDABLE HOUSING · IL

  • OVERLOOK GP LLC

    C · AFFORDABLE HOUSING · MD

  • RIDGECREST PHASE 1 MANAGER LLC

    C · AFFORDABLE HOUSING · DC

  • NHPF CAROLINE MM LLC

    C · AFFORDABLE HOUSING · IL

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202303189349315550

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