Civic Intelligence

Better Housing Coalition

990 • Fiscal year 2023 • EIN 54-1479059

Jan 01, 2023 to Dec 31, 2023 • Filed on May 28, 2024

PO Box 12117Richmond, VA 23241

(804) 644-0546

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

63rd percentile

0.36x

Higher debt load relative to assets than 63% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

87th percentile

2.31x

Higher debt load relative to revenue than 87% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

83rd percentile

30%

Higher net margin than 83% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

72nd percentile

$374,252

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

87th percentile

35%

Faster asset growth than 87% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

40th percentile

0.8%

Faster revenue growth than 40% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Assets

Up

$48,245,699

Up $12,534,208 (+35%) from 2022

Net Assets

Up

$31,089,578

Up $3,180,438 (+11%) from 2022

Liabilities

Up

$17,156,121

Up $9,353,770 (+120%) from 2022

Revenue

Up

$7,436,643

Up $55,512 (+0.8%) from 2022

Expenses

Up

$5,232,044

Up $1,570,428 (+43%) from 2022

Net Income

Down

$2,204,599

Down $1,514,916 (-41%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2010: $9,231,402Liabilities 2010: $2,513,999Net Assets 2010: $6,717,4032010Assets 2011: $10,106,279Liabilities 2011: $2,518,029Net Assets 2011: $7,588,2502011Assets 2012: $10,136,973Liabilities 2012: $1,980,425Net Assets 2012: $8,156,5482012Assets 2013: $9,174,706Liabilities 2013: $2,434,545Net Assets 2013: $6,740,1612013Assets 2014: $10,350,859Liabilities 2014: $581,643Net Assets 2014: $9,769,2162014Assets 2015: $10,427,089Liabilities 2015: $668,582Net Assets 2015: $9,758,5072015Assets 2016: $10,463,638Liabilities 2016: $745,128Net Assets 2016: $9,718,5102016Assets 2017: $11,327,360Liabilities 2017: $230,652Net Assets 2017: $11,096,7082017Assets 2018: $12,946,943Liabilities 2018: $225,967Net Assets 2018: $12,720,9762018Assets 2019: $16,090,545Liabilities 2019: $1,284,490Net Assets 2019: $14,806,0552019Assets 2020: $20,797,496Liabilities 2020: $2,196,684Net Assets 2020: $18,600,8122020Assets 2021: $28,801,812Liabilities 2021: $5,337,887Net Assets 2021: $23,463,9252021Assets 2022: $35,711,491Liabilities 2022: $7,802,351Net Assets 2022: $27,909,1402022Assets 2023: $48,245,699Liabilities 2023: $17,156,121Net Assets 2023: $31,089,5782023Assets 2024: $53,411,800Liabilities 2024: $19,253,431Net Assets 2024: $34,158,3692024

Highlighted filing

2023

Assets$48,245,699
Liabilities$17,156,121
Net Assets$31,089,578

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $2,873,1702010Expenses 2011: $3,102,2002011Expenses 2012: $3,252,5992012Revenue 2013: $3,665,297Expenses 2013: $5,055,872Net Income 2013: -$1,390,5752013Revenue 2014: $6,008,493Expenses 2014: $2,979,438Net Income 2014: $3,029,0552014Revenue 2015: $3,519,196Expenses 2015: $3,529,905Net Income 2015: -$10,7092015Revenue 2016: $3,105,708Expenses 2016: $3,145,705Net Income 2016: -$39,9972016Revenue 2017: $4,181,517Expenses 2017: $2,803,319Net Income 2017: $1,378,1982017Revenue 2018: $4,850,569Expenses 2018: $3,226,301Net Income 2018: $1,624,2682018Revenue 2019: $4,941,478Expenses 2019: $2,856,399Net Income 2019: $2,085,0792019Revenue 2020: $7,002,341Expenses 2020: $3,207,584Net Income 2020: $3,794,7572020Revenue 2021: $8,750,898Expenses 2021: $3,887,785Net Income 2021: $4,863,1132021Revenue 2022: $7,381,131Expenses 2022: $3,661,616Net Income 2022: $3,719,5152022Revenue 2023: $7,436,643Expenses 2023: $5,232,044Net Income 2023: $2,204,5992023Revenue 2024: $11,987,066Expenses 2024: $9,038,275Net Income 2024: $2,948,7912024

Highlighted filing

2023

Revenue$7,436,643
Expenses$5,232,044
Net Income$2,204,599
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 28, 2024
Return Version
2023v5.0
Gross Receipts
$13,142,457
Mission and Program Overview

Mission

The better housing coalition changes lives and transforms communities through quality affordable housing.

To develop affordable housing communities in the richmond, virginia metropolitan area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$5,975,189$5,774,641▼ $200,548
Investments Program Related$735,694$3,636,919▲ $2,901,225
Savings and Temporary Cash Investments$984,059$2,449,258▲ $1,465,199
Land, Buildings, and Equipment, Net$1,467,323$715,607▼ $751,716
Accounts Receivable$225,358$323,738▲ $98,380
Investments in Publicly Traded Securities$234,275$248,705▲ $14,430
Prepaid Expenses and Deferred Charges$48,379$66,940▲ $18,561
Pledges and Grants Receivable$25,000$15,750▼ $9,250
Total Assets$35,711,491$48,245,699▲ $12,534,208
Other Assets Total$26,016,214$35,014,141▲ $8,997,927
Liabilities
Unsecured Notes Loans Payable$7,453,333$16,700,393▲ $9,247,060
Deferred Revenue$62,280$263,215▲ $200,935
Other Liabilities$188,368$152,234▼ $36,134
Accounts Payable and Accrued Expenses$98,370$40,279▼ $58,091
Total Liabilities$7,802,351$17,156,121▲ $9,353,770
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$25,270,642$27,687,138▲ $2,416,496
Net Assets With Donor Restrictions$2,638,498$3,402,440▲ $763,942
Total Net Assets Fund Balance$27,909,140$31,089,578▲ $3,180,438
Total Liabilities and Net Assets / Fund Balance$35,711,491$48,245,699▲ $12,534,208

Asset Categories

AssetBook ValueDepreciationBasis
Land$640,000-$640,000
Equipment$75,607$307,871$383,478
Leasehold Improvements$0$9,875$9,875
Investment Program Related Org$627,134--
Other Assets Org$5,518,400--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Greta HarrisPresident & CEOFT$339,050$35,202$374,252
Greta Harris--$309,050$65,202$374,252
Julie HovermaleVice President & CFOFT$199,285$18,420$217,705
Julie Hovermale--$181,785$35,919$217,704
Matt Scaparro--$125,039$33,814$158,853
Matt ScaparroVP of Property ManagementFT$137,539$21,313$158,852
Lee AlfordDirector of Multi-family DevelFT$98,911$22,358$121,269
Stacie BirchettVP of Resource Develop.FT$112,144$6,394$118,538

Board Members and Trustees

NameTitle
Todd WaldoChair
Atma IyerImmediate Past Chair
Lissy S BryanPast Chair
Kristin SwanlundVice Chair
Beverly WalkerDirector
Carolyn RewaneDirector
Cheryl Groce-wrightDirector
David RingDirector
Dr Lori DwyerDirector
Duke DodsonDirector
Linda T HinesDirector
Patricia Bradby MooreDirector
Paul SheehyDirector
Rev Dr Robert DiggsDirector
Sarah BrooksDirector
Vida WilliamsDirector
Zanas TalleyDirector
Carter McdowellCo-founder
Veronica FlemingSecretary
Richard DickinsonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
HD Supply Facilities Maintenance LTDBuilding SuppliesP O Box 509058, San Diego, CA 92150$427,289
Boothe EnterprisesGeneral Contractor3303 GAULDING LANE, Richmond, VA 23223$349,658
Bdo USA LLPAudit & Tax ServicesPO BOX 642743, Pittsburgh, PA 15264$150,968
Johnson Debris Removal & HaulingTrash Hauling712 E Gladstone Avenue, Richmond, VA 23222$118,110
Senex Law PCLegal ServicesPO BOX 3472, Hampton, VA 23663$116,170
Revenue and Support

Revenue Composition

Contributions and Grants
$7,782,314
Program Service Revenue
$160,688
Investment Income
$-639,231
Other Revenue
$132,872
All Other Contributions
$3,750,995
Change in Net Assets
$2,204,599

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,237,612
Grants and Similar Amounts Paid$1,983,338
Other Expenses$1,011,094
Total Fundraising Expense$162,096
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,974,182--$1,974,182
Other Salaries and Wages$1,389,848$370,626$92,657$1,853,131
Occupancy$146,611$39,096$9,774$195,481
Other Employee Benefits$136,269$36,338$9,085$181,692
Fees for Services Other$104,368$27,832$6,958$139,158
Advertising$100,743$26,865$6,716$134,324
Payroll Taxes$91,511$24,403$6,101$122,015
Other Expenses$88,400$23,573$5,893$117,866
All Other Expenses$76,028$20,274$5,069$101,371
Pension Plan Contributions$60,580$16,155$4,039$80,774
Office Expenses$38,319$10,218$2,555$51,092
Depreciation Depletion$31,833$8,489$2,122$42,444
Insurance$26,676$7,114$1,778$35,568
Conferences and Meetings$24,093$6,425$1,606$32,124
Fees for Services Accounting$20,423$5,446$1,362$27,231
Information Technology$18,579$4,954$1,239$24,772
Travel$14,405$3,841$960$19,206
Grants to Domestic Individuals$9,156--$9,156
Fees for Services Legal$945$252$63$1,260
Total Functional Expenses$4,421,570$648,378$162,096$5,232,044
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Richmond Affordable HousingRichmond, VA501(c)(3)See Part Iv-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$167,456
Fundraising Direct Expenses$47,859
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
35th Anniversary$39,965$39,965$47,859$-7,894
Other Misc$15,078$15,078$7,184$7,894
Total Events$55,043$55,043$55,043$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$142,635
Deposits Held in Trust$5,000
Accrued Interest$4,599
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Better Housing Coalition
EIN
54-1479059
Phone
8046440546
Address
PO BOX 12117, RICHMOND, VA 23241

Signing Officer

Name
Julie Hovermale
Title
Vice President/CFO
Phone
8046440546
Signed
2024-05-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julie Hovermale
Formed
1988
Legal Domicile
Va
Voting Board Members
20
Independent Board Members
20
Employees
89
Volunteers
25

Preparer

Firm
Dooley & Vicars
Address
21 S SHEPPARD ST, RICHMOND, VA 23221
Preparer
Thomas E Turner CPA
Phone
8043552808
Supplemental Narrative

Additional Explanations

Pt X

The return will be provided to the board prior to filing with the irs.

Pt VI, Line 12C

Annually, individuals are required to maintain that they are abiding by the conflict of interest policy which is monitored by the vp of planning.

Pt VI, Line 15A

The compensation committee used a compensation survey to determine the ceo's salary which was approved by the board's compensation committee.

Pt VI, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are available upon request.

Pt XII, Line 2C

The organization has not changed their oversight review process regarding the audit and selection of their independent accountants.

Pt XI

Other changes to net position totaling $975,839 consist of land investment of $1,200,000 to winchester forest 2; land donation of $1,075,000 to horner apartments; equity reclassification of -$1,499,161 related to new market tax credits; and a distribution of $200,000 related to the sale of a property located on grove ave.

Pt VI, Line 11B

The return will be provided to the board prior to filing with the irs.

Financial Statement Notes

Pt X, Line 2

Better housing coalition and its affiliates, affordable residences in chesterfield, affordable residences in chesterfield ii, richmond affordable housing and richmond urban senior housing, are nonprofit charitable organizations other than private foundations, as defined by internal revenue code section 501(c)(3) and are not subject to federal or virginia income taxes. Bhc management company has been granted tax exempt status under internal revenue code section 501(c)(4). The coalition's controlled limited liability partnerships and limited liability companies are subject to federal and state income taxes at the partner and member level. Better housing coalition and its non-profit subsidiaries noted above, have a partner or member interest in each of these taxable entities, accordingly, the accompanying consolidated financial statements do not reflect provision of federal or state income taxes.

Pt V, Line 4

Better housing coalition has an endowment held at the community foundation. Bhc receives interest yearly that is to be used towards real estate development activities.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm1JULIE HOVERMALE
IRS990/Form990PartVIISectionAGrp/PersonNm2MATT SCAPARRO
IRS990/Form990PartVIISectionAGrp/PersonNm3LEE ALFORD
IRS990/Form990PartVIISectionAGrp/PersonNm4STACIE BIRCHETT
IRS990/Form990PartVIISectionAGrp/PersonNm5TODD WALDO
IRS990/Form990PartVIISectionAGrp/PersonNm6KRISTIN SWANLUND
IRS990/Form990PartVIISectionAGrp/PersonNm7VERONICA FLEMING
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IRS990/Form990PartVIISectionAGrp/PersonNm15LINDA T HINES
IRS990/Form990PartVIISectionAGrp/PersonNm16PATRICIA BRADBY MOORE
IRS990/Form990PartVIISectionAGrp/PersonNm17CAROLYN REWANE
IRS990/Form990PartVIISectionAGrp/PersonNm18DAVID RING
IRS990/Form990PartVIISectionAGrp/PersonNm19PAUL SHEEHY
IRS990/Form990PartVIISectionAGrp/PersonNm20ZANAS TALLEY
IRS990/Form990PartVIISectionAGrp/PersonNm21BEVERLY WALKER
IRS990/Form990PartVIISectionAGrp/PersonNm22VIDA WILLIAMS
IRS990/Form990PartVIISectionAGrp/PersonNm23LISSY S BRYAN
IRS990/Form990PartVIISectionAGrp/PersonNm24CARTER MCDOWELL
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt240
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt240
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT & CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt2VP OF PROPERTY MANAGEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR OF MULTI-FAMILY DEVEL
IRS990/Form990PartVIISectionAGrp/TitleTxt4VP OF RESOURCE DEVELOP.
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt7SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt8TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt9IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt24CO-FOUNDER
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IRS990/FormationYr01988
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IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0true
IRS990/FundraisingDirectExpensesAmt047859
IRS990/FundraisingGrossIncomeAmt0167456
IRS990/GainOrLossGrp/OtherAmt0-776507
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IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InfoInScheduleOPartXInd0X
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IRS990/InformationTechnologyGrp/ProgramServicesAmt018579
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IRS990/InsuranceGrp/ManagementAndGeneralAmt07114
IRS990/InsuranceGrp/ProgramServicesAmt026676
IRS990/InsuranceGrp/TotalAmt035568
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IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO DEVELOP AFFORDABLE HOUSING COMMUNITIES IN THE RICHMOND, VIRGINIA METROPOLITAN AREA.
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IRS990/OfficeExpensesGrp/FundraisingAmt02555
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IRS990/OperateHospitalInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$53.4$19.3$34.2$12.0$9.04$2.95
2023Detailed filing. Detailed filing data is available for this year.$48.2$17.2$31.1$7.44$5.23$2.20
2022Detailed filing. Detailed filing data is available for this year.$35.7$7.80$27.9$7.38$3.66$3.72
2021Detailed filing. Detailed filing data is available for this year.$28.8$5.34$23.5$8.75$3.89$4.86
2020Detailed filing. Detailed filing data is available for this year.$20.8$2.20$18.6$7.00$3.21$3.79
2019Detailed filing. Detailed filing data is available for this year.$16.1$1.28$14.8$4.94$2.86$2.09
2018Detailed filing. Detailed filing data is available for this year.$12.9$0.23$12.7$4.85$3.23$1.62
2017Detailed filing. Detailed filing data is available for this year.$11.3$0.23$11.1$4.18$2.80$1.38
2016Detailed filing. Detailed filing data is available for this year.$10.5$0.75$9.72$3.11$3.15$0.04
2015Detailed filing. Detailed filing data is available for this year.$10.4$0.67$9.76$3.52$3.53$0.01
2014Detailed filing. Detailed filing data is available for this year.$10.4$0.58$9.77$6.01$2.98$3.03
2013Detailed filing. Detailed filing data is available for this year.$9.17$2.43$6.74$3.67$5.06$1.39
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.1$1.98$8.16$3.25
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.1$2.52$7.59$3.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.23$2.51$6.72$2.87