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← HOUSING DEVELOPMENT CORPORATION OF HAMPTON ROADS

Form 990 for tax year 2023

Filed by HOUSING DEVELOPMENT CORPORATION OF HAMPTON ROADS.

Totals

Total revenue
$518,040
Total expenses
$317,122
Contributions and grants received
$105,083
Grants paid
$0
Program service revenue
$306,903
Investment income
$100,238
Other revenue
$5,816
Total assets, end of year
$1,984,645
Total liabilities, end of year
$1,025,627
Net assets or fund balances, end of year
$959,018
Program services expenses (Part IX)
$302,553
Management and general expenses
$14,569
Fundraising expenses
$0
Program service expenses (Part III)
$302,553

Program services were 95.4% 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.

  • 1e · Government grants (contributions)

    $105,083

  • 2a · Program service revenue: PROGRAM SVC RENT INCOME

    total $306,903 · related or exempt $306,903

  • 3 · Investment income

    total $10,420 · related or exempt $10,420

  • 7a · Gross sales of assets other than inventory

    other assets $89,818

  • 7c · Gain or loss

    other assets $89,818

  • 7d · Net gain or loss

    total $89,818 · related or exempt $89,818

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $5,816 · related or exempt $5,816

  • 11e · Other revenue, total

    $5,816

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $27,468 · program services $27,468

  • 11b · Fees: legal

    total $995 · program services $995

  • 11c · Fees: accounting

    total $4,860 · management and general $4,860

  • 11g · Fees: other

    total $790 · program services $790

  • 13 · Office expenses

    total $539 · management and general $539

  • 20 · Interest

    total $39,249 · program services $39,249

  • 22 · Depreciation, depletion and amortization

    total $50,430 · program services $50,430

  • 23 · Insurance

    total $26,032 · program services $24,437 · management and general $1,595

  • 24a · Other expenses: MAINTENANCE AND REPAIRS

    total $92,287 · program services $87,787 · management and general $4,500

  • 24b · Other expenses: PROPERTY TAXES

    total $34,128 · program services $34,128

  • 24c · Other expenses: UTILITIES

    total $16,833 · program services $16,833

  • 24d · Other expenses: PEST CONTROL

    total $4,782 · program services $4,782

  • 24e · All other expenses

    total $18,729 · program services $15,654 · management and general $3,075

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $58,602 · end of year $171,631

  • 2 · Savings and temporary cash investments

    beginning of year $200,000 · end of year $283,547

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

    $2,399,400

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

    $893,125

  • 10c · Land, buildings and equipment, net

    beginning of year $1,600,597 · end of year $1,506,275

  • 14 · Intangible assets

    beginning of year $21,117 · end of year $18,357

  • 15 · Other assets

    beginning of year $3,625 · end of year $4,835

  • 17 · Accounts payable and accrued expenses

    beginning of year $925 · end of year $925

  • 23 · Secured mortgages and notes payable

    beginning of year $1,124,916 · end of year $1,024,702

  • 27 · Net assets without donor restrictions

    beginning of year $749,080 · end of year $935,645

  • 28 · Net assets with donor restrictions

    beginning of year $9,020 · end of year $23,373

Mission and programs · 2023

Mission

TO PURCHASE QUALITY, AFFORDABLE, LOW INCOME HOUSING IN SAFE NEIGHBORHOODS IN ORDER TO PROVIDE HOUSING OPPORTUNITIES FOR THE CLIENTS OF AGENCIES/ORGANIZATIONS WHICH SERVE LOW INCOME AND HOMELESS INDIVIDUALS AND FAMILIES

  • PROVIDED AFFORDABLE HOUSING FOR LOW INCOME AND DISABLED PERSONS. THE ORGANIZATION HAS PLACED 15 SINGLE-FAMILY HOMES, 1 CONDO AND A THIRTEEN-UNIT APARTMENT COMPLEX IN SERVICE.

    Expenses $302,553

As filed on the 2023 return.

Listed in Part VII

  • Denise Counce

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Laney B Morewitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bob Tschirhart

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rob Coleman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jasmine Bracey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jerry Dooley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Josh David

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Sister David A Niski

    SECRETARY

    Total calculated
    $0
    Hours/week
    20

  • Fletcher Dilday

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Stephen Smark

    TREASURER

    Total calculated
    $0
    Hours/week
    2

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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
22 January 2025
IRS schema version
2023v6.0
Source object
202510369349300346

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