Liabilities / Assets
68th percentile
Higher debt load relative to assets than 68% of similar nonprofits.
Galax Community Apartments Corporation
EIN 54-1579956 • 501(c)3 • Christiansburg, VA
Profile
LOW INCOME HOUSING
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.01x
Liabilities / Revenue
80th percentile
Higher debt load relative to revenue than 80% of similar nonprofits.
Net Margin
24th percentile
Higher net margin than 24% of similar nonprofits.
Top Officer Pay
81st percentile
Higher top officer pay than 81% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
47th percentile
Faster asset growth than 47% of similar nonprofits.
Revenue Growth
58th percentile
Faster revenue growth than 58% of similar nonprofits.
Balance Sheet
Assets
Down$330,691
Down $13,653 (-4.0%) from 2023
Liabilities
Up$4,663
Up $596 (+15%) from 2023
Net Assets
Down$326,028
Down $14,249 (-4.2%) from 2023
Revenue
Up$75,371
Up $2,780 (+3.8%) from 2023
Expenses
Down$89,620
Down $1,404 (-1.5%) from 2023
Net Income
Up-$14,249
Up $4,184 (+23%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990EZDetailed filing. Detailed filing data is available for this year.
- Assets
- $330,691
- Liabilities
- $4,663
- Net assets
- $326,028
- Revenue
- $75,371
- Expenses
- $89,620
- Net income
- -$14,249
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2024 to Dec 31, 2024
- Signed
- Nov 14, 2025
- Return Version
- 2024v5.1
- Gross Receipts
- $75,371
Mission and Program Overview
Mission
LOW INCOME HOUSING
Program Services
| Description | Grants | Expenses |
|---|---|---|
| THE CORPORATION OWNS AND OPERATES 10 UNITS OF HOUSING FOR THE CHRONICALLY MENTALLY ILL LOCATED IN GALAX, VA. THE PROJECT IS OPERATED UNDER SECTION 811 OF THE NATIONAL ACT REGULATED BY HUD. | - | $89,620 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Racquel Reddie | Board Chair | - | $0 | - | - |
| Ana Castilla | Vice Chair | - | $0 | - | - |
| Charles Famuliner | Past Chair | - | $0 | - | - |
| Nathan Kerr | Member | - | $0 | - | - |
| Shawn McMahon | Member | - | $0 | - | - |
| Harold Nassau | Member | - | $0 | - | - |
| John Randolph | Member | - | $0 | - | - |
| Deborah Sherman Lee | Member | - | $0 | - | - |
| Susan Sisk | Member | - | $0 | - | - |
| Jeffrey Reed | CEO/President | - | $0 | - | - |
| J Andy Hall | Chief Operating Officer | - | $0 | - | - |
| Lance Sutherland | Evp/CFO | - | $0 | - | - |
Filing and Contact Details
Filer
- Filer Name
- Galax Community Apartments Corporation
- EIN
- 54-1579956
- Phone
- 5403822002
- Address
- 448 Depot Street, Christiansburg, VA 24073
Signing Officer
- Name
- Jeffrey Reed
- Title
- President
- Signed
- 2025-11-14
- Discuss with paid preparer
- Yes
Preparer
- Firm
- Forvis Mazars LLP
- Address
- 4161 Piedmont Parkway Suite 310, Greensboro, NC 27410
- Preparer
- Kevin Rayfield
- Phone
- 3368895156
Supplemental Narrative
Additional Explanations
Form 990-EZ, Part I, Line 8 Other Revenue
“Other Revenue - 1066;”
Form 990-EZ, Part I, Line 16 Other Expenses
“Administrative Expenses - 10259; Utilities - 6915; Operating and Maintenance - 11140; Depreciation - 21076; Taxes and Insurance - 3182; Financial Expenses - 223; Advertising - 83; Legal - 261; Payroll Taxes - 1531; Taxes - 235; Other Employee Benefits - 4838; Office Expenses - 6169;”
Form 990-EZ, Part II, Line 24B Other Assets
“PREPAID EXPENSES - BOY:1669,EOY:1754; RESTRICTED DEPOSITS AND FUNDED RESERVES - BOY:54318,EOY:57860; Tenant security deposit - BOY:3149,EOY:3459; Accounts Receivable (net) - BOY:325,EOY:415; Other Assets - BOY:20112,EOY:16630;”
Form 990-EZ, Part II, Line 26B Total Liabilities
“ACCOUNTS PAYABLE - BOY:1830,EOY:836; Tenant SECURITY DEPOSITS - BOY:1944,EOY:2468; Prepaid Rent - BOY:293,EOY:1359;”
Form 990-EZ, Part V, Information Regarding Personal Benefit Contracts
“The organization did not, during the year, receive any funds, directly, or indirectly, to pay premiums on a personal benefit contract. The organization, did not, during the year, pay any premiums, directly, or indirectly, on a personal benefit contract.”
Raw XML Appendix249 raw XML fields
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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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Other Revenue - 1066; |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Administrative Expenses - 10259; Utilities - 6915; Operating and Maintenance - 11140; Depreciation - 21076; Taxes and Insurance - 3182; Financial Expenses - 223; Advertising - 83; Legal - 261; Payroll Taxes - 1531; Taxes - 235; Other Employee Benefits - 4838; Office Expenses - 6169; |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | PREPAID EXPENSES - BOY:1669,EOY:1754; RESTRICTED DEPOSITS AND FUNDED RESERVES - BOY:54318,EOY:57860; Tenant security deposit - BOY:3149,EOY:3459; Accounts Receivable (net) - BOY:325,EOY:415; Other Assets - BOY:20112,EOY:16630; |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | ACCOUNTS PAYABLE - BOY:1830,EOY:836; Tenant SECURITY DEPOSITS - BOY:1944,EOY:2468; Prepaid Rent - BOY:293,EOY:1359; |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY, OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT. THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY, OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990-EZ, Part I, Line 8 Other Revenue |
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| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990-EZ, Part II, Line 24b Other Assets |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990-EZ, Part II, Line 26b Total Liabilities |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990-EZ, Part V, Information Regarding Personal Benefit Contracts |
| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
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| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | President |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2025-11-14 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | Galax Community Apartments Corporation |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | GALA |
| ReturnHeader/Filer/EIN | 0 | 541579956 |
| ReturnHeader/Filer/PhoneNum | 0 | 5403822002 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 448 Depot Street |
| ReturnHeader/Filer/USAddress/CityNm | 0 | Christiansburg |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | VA |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 24073 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 440160260 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | Forvis Mazars LLP |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 4161 Piedmont Parkway Suite 310 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | Greensboro |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | NC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 27410 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 3368895156 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2025-11-06 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | Kevin Rayfield |
| ReturnHeader/ReturnTs | 0 | 2025-11-14T11:53:56+00:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990EZ |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2024-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2024-12-31 |
| ReturnHeader/TaxYr | 0 | 2024 |
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