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Nonprofiteer
← BELFORD COMMONS CORPORATION

Form 990 for tax year 2024

Filed by BELFORD COMMONS CORPORATION.

Totals

Total revenue
$148,577
Total expenses
$224,296
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$148,492
Investment income
$85
Other revenue
$0
Total assets, end of year
$381,877
Total liabilities, end of year
$97,004
Net assets or fund balances, end of year
$284,873
Program services expenses (Part IX)
$200,471
Management and general expenses
$23,825
Fundraising expenses
$0
Program service expenses (Part III)
$200,471

Program services were 89.4% 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.

  • 2a · Program service revenue: Rental Income

    total $148,492 · related or exempt $148,492

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $85 · excluded $85

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $44,660 · program services $33,285 · management and general $11,375

  • 9 · Other employee benefits

    total $8,121 · program services $8,121 · management and general $0

  • 10 · Payroll taxes

    total $3,430 · program services $3,430 · management and general $0

  • 11a · Fees: management

    total $12,450 · program services $0 · management and general $12,450

  • 11c · Fees: accounting

    total $10,852 · program services $10,852 · management and general $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $202 · program services $202 · management and general $0

  • 13 · Office expenses

    total $9,516 · program services $9,516 · management and general $0

  • 17 · Travel

    total $1,644 · program services $1,644 · management and general $0

  • 20 · Interest

    total $1,370 · program services $1,370 · management and general $0

  • 22 · Depreciation, depletion and amortization

    total $56,385 · program services $56,385 · management and general $0

  • 23 · Insurance

    total $7,695 · program services $7,695 · management and general $0

  • 24a · Other expenses: Operating and Maintenance

    total $30,259 · program services $30,259 · management and general $0

  • 24b · Other expenses: Utilities

    total $27,827 · program services $27,827 · management and general $0

  • 24c · Other expenses: Taxes

    total $7,479 · program services $7,479 · management and general $0

  • 24d · Other expenses: Bad Debt

    total $866 · program services $866 · management and general $0

  • 24e · All other expenses

    total $1,540 · program services $1,540 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $60,808 · end of year $0

  • 4 · Accounts receivable

    beginning of year $14,215 · end of year $163

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,823 · end of year $4,030

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

    $1,526,709

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

    $1,196,174

  • 10c · Land, buildings and equipment, net

    beginning of year $373,204 · end of year $330,535

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $72,558 · end of year $47,149

  • 17 · Accounts payable and accrued expenses

    beginning of year $101,156 · end of year $31,381

  • 19 · Deferred revenue

    beginning of year $59 · end of year $473

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $62,801 · end of year $65,150

  • 27 · Net assets without donor restrictions

    beginning of year $360,592 · end of year $284,873

Mission and programs · 2024

Mission

LOW INCOME HOUSING

  • THE CORPORATION OWNS AND OPERATES 23 UNITS OF LOW INCOME HOUSING IN EMPORIA, VIRGINIA IN ACCORDANCE WITH HUD SECTION 202 FUNDING.

    Expenses $200,471 · Revenue $148,492

As filed on the 2024 return.

Listed in Part VII

  • Ana Castilla

    Vice Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Charles Famuliner

    Past Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Deborah Sherman Lee

    Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Harold Nassau

    Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John Randolph

    Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Nathan Kerr

    Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Racquel Reddie

    Board Chair

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Shawn McMahon

    Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susan Sisk

    Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • J Andy Hall

    COO

    Total calculated
    $383,089
    From this org
    $0
    From related orgs
    $343,506
    Other
    $39,583
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $310,923 related
    Bonus
    $0 + $31,551 related
    Other
    $0 + $1,032 related
    Deferred
    $0 + $38,323 related
    Nontaxable benefits
    $0 + $1,260 related
    Filer's total
    $0 + $383,089 related

  • Jeffrey Reed

    CEO/President

    Total calculated
    $505,081
    From this org
    $0
    From related orgs
    $445,371
    Other
    $59,710
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $403,831 related
    Bonus
    $0 + $40,508 related
    Other
    $0 + $1,032 related
    Deferred
    $0 + $40,922 related
    Nontaxable benefits
    $0 + $18,788 related
    Filer's total
    $0 + $505,081 related

  • Lance Sutherland

    EVP / CFO

    Total calculated
    $340,538
    From this org
    $0
    From related orgs
    $278,113
    Other
    $62,425
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $250,476 related
    Bonus
    $0 + $27,397 related
    Other
    $0 + $240 related
    Deferred
    $0 + $36,282 related
    Nontaxable benefits
    $0 + $26,143 related
    Filer's total
    $0 + $340,538 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

None.

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3
COMMUNITY HOUSING PARTNERS CORPORATION'S BOARD COLLECTS INDEPENDENT DATA ON COMPENSATION FROM OTHER LIKE ORGANIZATIONS AND APPROVES COMPENSATION FOR THE CEO, CFO, COO, AND VICE-PRESIDENTS.

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

No itemized grants to organizations on this return.

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.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.1
Source object
202503189349308325

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