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← VI HOUSING REVITALIZATION CORP

Form 990 for tax year 2022

Filed by VI HOUSING REVITALIZATION CORP.

Totals

Total revenue
$573,100
Total expenses
$1,348,455
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$572,269
Investment income
$831
Other revenue
$0
Total assets, end of year
$83,744
Total liabilities, end of year
$24,458
Net assets or fund balances, end of year
$59,286
Program services expenses (Part IX)
$1,160,000
Management and general expenses
$188,455
Fundraising expenses
$0
Program service expenses (Part III)
$1,160,000

Program services were 86.0% 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: PROGRAM REVENUE

    total $572,269 · related or exempt $572,269

  • 3 · Investment income

    total $831 · related or exempt $831

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $115,499 · management and general $115,499

  • 9 · Other employee benefits

    total $19,440 · management and general $19,440

  • 11b · Fees: legal

    total $24,969 · management and general $24,969

  • 11c · Fees: accounting

    total $1,579 · management and general $1,579

  • 24a · Other expenses: RESIDENT EXPENSES

    total $1,160,000 · program services $1,160,000

  • 24b · Other expenses: PRE-DEVELOPMENT COSTS

    total $12,593 · management and general $12,593

  • 24c · Other expenses: CONSULTING

    total $12,071 · management and general $12,071

  • 24d · Other expenses: PROFESSIONAL FEES

    total $2,050 · management and general $2,050

  • 24e · All other expenses

    total $254 · management and general $254

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $834,641 · end of year $83,544

  • 4 · Accounts receivable

    end of year $200

  • 17 · Accounts payable and accrued expenses

    end of year $24,458

  • 27 · Net assets without donor restrictions

    beginning of year $834,641 · end of year $59,286

Mission and programs · 2022

Mission

TO PROVIDE AFFORDABLE HOUSING TO DISTRESSED AND UNDERPRIVILEGED CITIZENS.

  • RELIEF OF THE POOR AND DISTRESSED OR UNDERPRIVILEGED THROUGH THE PROVISION OF QUALITY AFFORDABLE HOUSING.

    Expenses $1,160,000 · Revenue $573,100

As filed on the 2022 return.

Listed in Part VII

  • Robert Graham

    BOARD SECRETARY

    Total calculated
    $246,084
    From this org
    $0
    From related orgs
    $246,084
    Other
    $0
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $246,084 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $246,084 related

  • Noreen Michael

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Kimberley Causey-Gomez

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Daryl Griffith

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kaye Gumbs

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Simba Abiff

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Vaughn Hewitt

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Dina Perry-Malone

    DINA PERRY-MALONE

    Total calculated
    $0
    Hours/week
    1

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 · 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
31 May 2024
IRS schema version
2022v5.0
Source object
202411529349300516

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