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← HOUSING CAPITAL CORPORATION OF VIRGINIA

Form 990 for tax year 2024

Filed by HOUSING CAPITAL CORPORATION OF VIRGINIA.

Totals

Total revenue
$1,300,896
Total expenses
$1,482,671
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,271,890
Investment income
$29,006
Other revenue
$0
Total assets, end of year
$1,673,558
Total liabilities, end of year
$589,188
Net assets or fund balances, end of year
$1,084,370
Program services expenses (Part IX)
$1,395,749
Management and general expenses
$86,922
Fundraising expenses
$0
Program service expenses (Part III)
$1,395,749

Program services were 94.1% 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: Asset Management

    total $1,271,890 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $29,006 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $472,490 · program services $472,490 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $121,743 · program services $121,743 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $18,659 · program services $0 · management and general $18,659 · fundraising $0

  • 16 · Occupancy

    total $47,155 · program services $0 · management and general $47,155 · fundraising $0

  • 17 · Travel

    total $46,251 · program services $46,251 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $10,651 · program services $10,651 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $14,014 · program services $0 · management and general $14,014 · fundraising $0

  • 24a · Other expenses: Project Expense

    total $283,083 · program services $283,083 · management and general $0 · fundraising $0

  • 24b · Other expenses: Professional Fees

    total $460,191 · program services $456,691 · management and general $3,500 · fundraising $0

  • 24c · Other expenses: Bad Debt

    total $4,751 · program services $4,751 · management and general $0 · fundraising $0

  • 24d · Other expenses: Utilities

    total $3,050 · program services $0 · management and general $3,050 · fundraising $0

  • 24e · All other expenses

    total $633 · program services $89 · management and general $544 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $131,036 · end of year $156,247

  • 2 · Savings and temporary cash investments

    beginning of year $981,024 · end of year $1,047,667

  • 3 · Pledges and grants receivable

    beginning of year $226,675 · end of year $272,466

  • 15 · Other assets

    beginning of year $7,369 · end of year $197,178

  • 17 · Accounts payable and accrued expenses

    beginning of year $72,505 · end of year $377,322

  • 25 · Other liabilities

    beginning of year $7,454 · end of year $211,866

  • 27 · Net assets without donor restrictions

    beginning of year $1,266,145 · end of year $1,084,370

Mission and programs · 2024

Mission

Provide Affordable Housing for low income persons.

  • Housing Capital Corporation of Virginia manages affordable housing projects throughout the Commonwealth of Virginia and parts of Kentucky and West Virginia. HCCVs mission is to make affordable housing available for persons in need.

    Expenses $1,395,749 · Revenue $1,271,890

As filed on the 2024 return.

Listed in Part VII

  • Robert L Newman

    President

    Total calculated
    $263,092
    From this org
    $0
    From related orgs
    $221,913
    Other
    $41,179
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $0 + $221,913 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $22,400 related
    Nontaxable benefits
    $0 + $18,779 related
    Filer's total
    $0 + $263,092 related

  • Chris Sterling

    Vice-President

    Total calculated
    $214,127
    From this org
    $0
    From related orgs
    $170,900
    Other
    $43,227
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $0 + $170,900 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $18,000 related
    Nontaxable benefits
    $0 + $25,227 related
    Filer's total
    $0 + $214,127 related

  • Bernard Rogers

    Secretary

    Total calculated
    $177,125
    From this org
    $0
    From related orgs
    $134,924
    Other
    $42,201
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $0 + $134,924 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $14,250 related
    Nontaxable benefits
    $0 + $27,951 related
    Filer's total
    $0 + $177,125 related

  • Russell V Parrish

    Treasurer

    Total calculated
    $188,928
    From this org
    $0
    From related orgs
    $142,164
    Other
    $46,764
    Hours/week
    4

    Schedule J breakdown matched by us

    Base
    $0 + $142,164 related
    Bonus
    $0 + $142,164 related
    Other
    $0
    Deferred
    $0 + $15,200 related
    Nontaxable benefits
    $0 + $31,564 related
    Filer's total
    $0 + $331,092 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

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.

Disregarded entities

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

  • VAHM LLC

    Real Estate · income -$112,065 · assets -$114,288

    Directly controlled by NA

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
2024v5.2
Source object
202533189349312033

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