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← AFFORDABLE RESIDENCES IN CHESTERFIELD II

Form 990 for tax year 2024

Filed by AFFORDABLE RESIDENCES IN CHESTERFIELD II.

Totals

Total revenue
$3,051,466
Total expenses
$2,900,310
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$3,188,830
Investment income
-$137,364
Other revenue
$0
Total assets, end of year
$17,895,954
Total liabilities, end of year
$8,128,087
Net assets or fund balances, end of year
$9,767,867
Program services expenses (Part IX)
$2,900,310
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$2,900,310

Program services were 100.0% 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: RENTAL INCOME

    total $3,188,830 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $187,559 · unrelated business $0 · excluded $0

  • 7b · Less cost or other basis and sales expenses

    securities $324,923

  • 7c · Gain or loss

    securities -$324,923

  • 7d · Net gain or loss

    total -$324,923 · related or exempt -$324,923 · unrelated business $0 · excluded $0

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $135,007 · program services $135,007 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $12,098 · program services $12,098 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $79,002 · program services $79,002 · management and general $0 · fundraising $0

  • 17 · Travel

    total $1,608 · program services $1,608 · management and general $0 · fundraising $0

  • 20 · Interest

    total $576,234 · program services $576,234 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $733,964 · program services $733,964 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $43,226 · program services $43,226 · management and general $0 · fundraising $0

  • 24a · Other expenses: MAINTENANCE

    total $441,298 · program services $441,298 · management and general $0 · fundraising $0

  • 24b · Other expenses: OPERATING UTILITIES

    total $196,885 · program services $196,885 · management and general $0 · fundraising $0

  • 24c · Other expenses: OPERATING TAXES

    total $234,374 · program services $234,374 · management and general $0 · fundraising $0

  • 24d · Other expenses: MANAGEMENT FEE

    total $236,839 · program services $236,839 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $209,775 · program services $209,775 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,560,187 · end of year $2,093,674

  • 4 · Accounts receivable

    beginning of year $29,740 · end of year $22,517

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

    $28,954,164

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

    $15,020,682

  • 10c · Land, buildings and equipment, net

    beginning of year $14,401,475 · end of year $13,933,482

  • 15 · Other assets

    beginning of year $1,662,352 · end of year $1,846,281

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,237 · end of year $61,228

  • 19 · Deferred revenue

    beginning of year $23,394 · end of year $22,197

  • 23 · Secured mortgages and notes payable

    beginning of year $7,582,867 · end of year $7,815,231

  • 25 · Other liabilities

    beginning of year $219,545 · end of year $229,431

  • 27 · Net assets without donor restrictions

    beginning of year $7,892,430 · end of year $7,843,586

  • 28 · Net assets with donor restrictions

    beginning of year $1,924,281 · end of year $1,924,281

Mission and programs · 2024

Mission

TO PROVIDE AFFORDABLE HOUSING.

  • THE ORGANIZATION PROVIDED MULTI-FAMILY AFFORDABLE HOUSING FOR BOTH INDIVIDUALS AND FAMILIES

    Expenses $2,900,310 · Revenue $3,188,830

As filed on the 2024 return.

Listed in Part VII

  • Philip A Brooks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Freda G Bolling

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Regina Chaney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Todd Waldo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Richard Dickinson

    SECRETARY & TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Michael Schewel

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • R Wheatley McDowell

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0

  • Greta Harris

    PRESIDENT & CEO

    Total calculated
    $416,862
    From this org
    $0
    From related orgs
    $355,493
    Other
    $61,369

    Schedule J breakdown matched by us

    Base
    $0 + $323,993 related
    Bonus
    $0 + $31,500 related
    Other
    $0
    Deferred
    $0 + $53,902 related
    Nontaxable benefits
    $0 + $7,467 related
    Filer's total
    $0 + $416,862 related

  • Julie Hovermale

    VICE PRESIDENT & CFO

    Total calculated
    $227,612
    From this org
    $0
    From related orgs
    $211,748
    Other
    $15,864

    Schedule J breakdown matched by us

    Base
    $0 + $194,248 related
    Bonus
    $0 + $17,500 related
    Other
    $0
    Deferred
    $0 + $13,337 related
    Nontaxable benefits
    $0 + $2,526 related
    Filer's total
    $0 + $227,611 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.

Related partnerships

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

  • CARY 2000 PHASE III LP

    N/A · RENTAL REAL ESTATE · VA · 0% owned

    Directly controlled by RAH INC

  • 1617-1621 GROVE AVENUE LP

    N/A · RENTAL REAL ESTATE · VA · 0% owned

    Directly controlled by RAH INC

  • AFFORDABLE HISTORIC RESIDENCES

    N/A · RENTAL REAL ESTATE · VA · 0% owned

    Directly controlled by RAH INC

  • MARKET SQUARE ELDERLY HOUSING I

    N/A · RENTAL REAL ESTATE · VA · 0% owned

    Directly controlled by RAH INC

  • MARKET SQUARE ELDERLY HOUSING II

    N/A · RENTAL REAL ESTATE · VA · 0% owned

    Directly controlled by NA

  • MARKET SQUARE ELDERLY HOUSING III

    N/A · RENTAL REAL ESTATE · VA · 0% owned

    Directly controlled by NA

  • NINE MILE ROAD LLC

    N/A · RENTAL REAL ESTATE · VA · 0% owned

    Directly controlled by NA

  • NINE MILE ROAD II LLC

    N/A · RENTAL REAL ESTATE · VA · 0% owned

    Directly controlled by NA

  • 300 RANDOLPH STREET LLC

    N/A · RENTAL REAL ESTATE · VA · 0% owned

    Directly controlled by NA

  • 4101 NORTH AVENUE LLC

    N/A · RENTAL REAL ESTATE · VA · 0% owned

    Directly controlled by NA

  • 4101 NORTH AVENUE LLC II

    N/A · RENTAL REAL ESTATE · 0% owned

    Directly controlled by NA

  • CLAIBORNE SQUARE LLC

    N/A · RENTAL REAL ESTATE · 0% owned

    Directly controlled by NA

  • BECKSTOFFER LOFTS LLC

    N/A · RENTAL REAL ESTATE · 0% owned

    Directly controlled by NA

  • NORTH OAK LLC 80-0747272

    N/A · RENTAL REAL ESTATE · 0% owned

    Directly controlled by NA

  • 1208 NORTH 28TH ST LLC

    N/A · RENTAL REAL ESTATE · 0% owned

    Directly controlled by NA

  • RICHMOND SCATTERED SITES WEST

    N/A · RENTAL REAL ESTATE · 0% owned

    Directly controlled by NA

  • RICHMOND SCATTERED SITES EAST

    N/A · RENTAL REAL ESTATE · 0% owned

    Directly controlled by NA

  • 2230 VENABLE STREET LLC

    N/A · RENTAL REAL ESTATE · 0% owned

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
6 August 2025
IRS schema version
2024v5.2
Source object
202502189349300825

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