Civic Intelligence

Virginia Community Development Fund Inc.

990 • Fiscal year 2021 • EIN 54-1914519

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization ProfileN/A
1840 West Broad StRichmond, VA 23220

(804) 343-1200

Siviq Scores

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

Liabilities / Assets

40th percentile

0.07x

Higher debt load relative to assets than 40% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

44th percentile

0.12x

Higher debt load relative to revenue than 44% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

96th percentile

83%

Higher net margin than 96% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

81st percentile

$218,509

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

95th percentile

97%

Faster asset growth than 95% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

96th percentile

299%

Faster revenue growth than 96% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$8,280,823

Up $4,072,079 (+97%) from 2020

Net Assets

Up

$7,716,134

Up $3,926,421 (+104%) from 2020

Liabilities

Up

$564,689

Up $145,658 (+35%) from 2020

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin96th percentile

Revenue

Up

$4,728,316

Up $3,544,491 (+299%) from 2020

Expenses

Up

$801,895

Up $191,995 (+31%) from 2020

Net Income

Up

$3,926,421

Up $3,352,496 (+584%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$20M$15M$10M$5.0M$0Assets 2011: $1,449,584Liabilities 2011: $310,000Net Assets 2011: $1,139,5842011Assets 2012: $1,982,255Liabilities 2012: $461,295Net Assets 2012: $1,520,9602012Assets 2013: $2,416,314Liabilities 2013: $252,865Net Assets 2013: $2,163,4492013Assets 2014: $2,302,855Liabilities 2014: $213,122Net Assets 2014: $2,089,7332014Assets 2015: $2,329,064Liabilities 2015: $390,142Net Assets 2015: $1,938,9222015Assets 2016: $2,972,915Liabilities 2016: $384,818Net Assets 2016: $2,588,0972016Assets 2017: $3,074,856Liabilities 2017: $225,051Net Assets 2017: $2,849,8052017Assets 2018: $3,179,662Liabilities 2018: $393,942Net Assets 2018: $2,785,7202018Assets 2019: $3,517,521Liabilities 2019: $301,733Net Assets 2019: $3,215,7882019Assets 2020: $4,208,744Liabilities 2020: $419,031Net Assets 2020: $3,789,7132020Assets 2021: $8,280,823Liabilities 2021: $564,689Net Assets 2021: $7,716,1342021Assets 2022: $9,002,328Liabilities 2022: $880,311Net Assets 2022: $8,122,0172022Assets 2023: $13,782,493Liabilities 2023: $1,191,372Net Assets 2023: $12,591,1212023Assets 2024: $15,822,893Liabilities 2024: $2,329,763Net Assets 2024: $13,493,1302024

Highlighted filing

2021

Assets$8,280,823
Liabilities$564,689
Net Assets$7,716,134
Open 2021 Filing

Operations Trend

Revenue Growth96th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $421,084Expenses 2011: $416,409Net Income 2011: $4,6752011Revenue 2012: $410,176Expenses 2012: $328,800Net Income 2012: $81,3762012Revenue 2013: $814,977Expenses 2013: $172,388Net Income 2013: $642,5892013Revenue 2014: $420,103Expenses 2014: $493,819Net Income 2014: -$73,7162014Revenue 2015: $307,457Expenses 2015: $458,268Net Income 2015: -$150,8112015Revenue 2016: $898,645Expenses 2016: $249,367Net Income 2016: $649,2782016Revenue 2017: $551,520Expenses 2017: $289,812Net Income 2017: $261,7082017Revenue 2018: $365,173Expenses 2018: $429,621Net Income 2018: -$64,4482018Revenue 2019: $808,015Expenses 2019: $377,947Net Income 2019: $430,0682019Revenue 2020: $1,183,825Expenses 2020: $609,900Net Income 2020: $573,9252020Revenue 2021: $4,728,316Expenses 2021: $801,895Net Income 2021: $3,926,4212021Revenue 2022: $1,320,186Expenses 2022: $914,303Net Income 2022: $405,8832022Revenue 2023: $5,575,731Expenses 2023: $1,106,627Net Income 2023: $4,469,1042023Revenue 2024: $2,374,234Expenses 2024: $1,472,214Net Income 2024: $902,0202024

Highlighted filing

2021

Revenue$4,728,316
Expenses$801,895
Net Income$3,926,421
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.1
Gross Receipts
$4,728,316
Mission and Program Overview

Mission

To Promote the development of affordable housing for Virginia's poorest and most underserved residents

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,740,738$5,533,474▲ $2,792,736
Other Notes and Loans Receivable, Net$1,410,037$2,569,315▲ $1,159,278
Accounts Receivable$55,529$175,038▲ $119,509
Investments Program Related$2,440$2,996▲ $556
Total Assets$4,208,744$8,280,823▲ $4,072,079
Liabilities
Unsecured Notes Loans Payable$151,879$500,000▲ $348,121
Other Liabilities$62,917$37,517▼ $25,400
Accounts Payable and Accrued Expenses$204,235$27,172▼ $177,063
Total Liabilities$419,031$564,689▲ $145,658
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,711,034$5,506,034▲ $3,795,000
Net Assets Without Donor Restrictions$2,078,679$2,210,100▲ $131,421
Total Net Assets Fund Balance$3,789,713$7,716,134▲ $3,926,421
Total Liabilities and Net Assets / Fund Balance$4,208,744$8,280,823▲ $4,072,079
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeOtherTotal
Robert NewmanTreasurer-$218,509$218,509
Laura DupuySecretaryFT$113,659$113,659

Board Members and Trustees

NameTitle
John PSalopPresident
Karen WildsVice President
Andy KegleyBoard Member
Karen JacobsonBoard Member
Neil AminBoard Member
Philip BrooksBoard Member
Philip StetsonBoard Member
Robert Newman-

Highest Paid Contractors

ContractorServicesLocationCompensation
Ariel VenturesIndepenent Contractor1163 East 40th Street Ste 201, Cleveland, OH 44114$113,330
Revenue and Support

Revenue Composition

Contributions and Grants
$4,375,000
Program Service Revenue
$322,939
Investment Income
$30,377
Other Revenue
$0
All Other Contributions
$375,000
Change in Net Assets
$3,926,421

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,728,316
Total Revenue per Audited Statements
$4,728,316
Total Revenue per Form 990
$4,728,316
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$423,923
Salaries, Compensation, and Employee Benefits$202,972
Grants and Similar Amounts Paid$175,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$182,675$20,297$0$202,972
Grants to Domestic Orgs$175,000--$175,000
Other Expenses$37,519$16,066$0$53,585
Interest$0$5,625$0$5,625
Office Expenses$0$65$0$65
Total Functional Expenses$759,842$42,053$0$801,895

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$801,895
Total Expenses per Audited Statements$801,895
Total Expenses per Form 990$801,895
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$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
Deferred Operating Reimbursement Fee$20,833
Deferred Asset Management Fee$16,684
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
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
Virginia Community Development Fund Inc
EIN
54-1914519
Phone
8043431200
Address
1840 West Broad St, Richmond, VA 23220

Signing Officer

Name
Robert Newman
Title
Treasurer
Phone
8043431200
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Newman
Formed
1996
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

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

Additional Explanations

Pt VI, Line 11B

“The President and Treasurer approve the 990 before it”

Pt VI, Line 11B

“is submitted.”

Pt VI, Line 12C

“The parent corporation (VCDC) has a conflict of interest and whistle-blower policy, which also applies to VCDF.”

Pt VI, Line 15A

“The Secretary and Treasurer of VCDF were full-time staff of an affiliate, Virginia Community Development Corporation (VCDC). VCDC commissioned a comprehensive compensation (salary and benefits) survey in 2021 to assess the market for comparable compensation for all staff. In addition, VCDC obtains salary and broad benefit comparables through its membership in the National Association of State and Local Equity Funds. The VCDC CEO determines compensation for these positions using this information as reference.”

Pt VI, Line 15B

“The Secretary and Treasurer of VCDF were full-time staff of VCDC that were shared with VCDF and other affiliates. The compensation reported in this return is for the full-time salary and benefits, not for the portion of compensation allocated to VCDF.”

Pt VI, Line 7A

“VCDC appoints the Board Members.”

Raw XML AppendixShowing 400 of 617 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.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0204235
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt027172
IRS990/AccountsReceivableGrp/BOYAmt055529
IRS990/AccountsReceivableGrp/EOYAmt0175038
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0To Promote the development of affordable housing for Virginia's poorest and most underserved residents
IRS990/AllOtherContributionsAmt0375000
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0Robert Newman
IRS990/BooksInCareOfDetail/PhoneNum08044825387
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt01840 West Broad Street Suite 200
IRS990/BooksInCareOfDetail/USAddress/CityNm0Richmond
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0VA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd023220
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt02740738
IRS990/CashNonInterestBearingGrp/EOYAmt05533474
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd0false
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0true
IRS990/ContractorCompensationGrp/CompensationAmt0113330
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt01163 East 40th Street Ste 201
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0Cleveland
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0OH
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd044114
IRS990/ContractorCompensationGrp/ContractorName/PersonNm0Ariel Ventures
IRS990/ContractorCompensationGrp/ServicesDesc0Indepenent Contractor
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt04375000
IRS990/CYGrantsAndSimilarPaidAmt0175000
IRS990/CYInvestmentIncomeAmt030377
IRS990/CYOtherExpensesAmt0423923
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0322939
IRS990/CYRevenuesLessExpensesAmt03926421
IRS990/CYSalariesCompEmpBnftPaidAmt0202972
IRS990/CYTotalExpensesAmt0801895
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt04728316
IRS990/DAFExcessBusinessHoldingsInd0false
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/Desc0VCDF is a subsidiary of VCDC, which invests equity into community development project with a focus on affordable housing. VCDF is a certified Community Development Financial Institution (CDFI) and applies its focus to other tools to assist in the development of these projects, primarily through affordable loans to housing projects, especially those with an allocation of Low Income Housing Tax Credits. VCDF is also a Certified Development Entity (CDE) and thereby, can apply to the US Treasury's New Market Tax Credit program (NMTC) for allocation of credits for investment in economic development projects. In 2009, VCDF received its first allocation of NMTCs for $35,000,000 and invested this resource into four projects located in underserved communities in Virginia: two museums (Roanoke and Bristol) and two theaters (Waynesboro and Clifton Forge). VCDF has since received a second allocation of NMTCs in the 2018 round for $35,000,000 which have been invested in another four projects in Virginia and West Virginia: three community facilities and one commercial/mixed use project. Another two projects have been approved for investment: one is a boutique hotel in WV, the other is a small business loan fund for NMTC-eligible projects in VA and WV. VCDF is applying for another round of NMTCs through the 2020 round for another $50,000,000 and intends to continue investing in community facilities, hospitality projects as well as mixed-use projects (both commercial and residential). In 2017 VCDF expanded its service area to include communities in Virginia and West Virginia.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0true
IRS990/DistributionToDonorInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0true
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt01711034
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt05506034
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt0759842
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignOfficeInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt438.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt133336
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt417649
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/PersonNm0John PSalop
IRS990/Form990PartVIISectionAGrp/PersonNm1Robert Newman
IRS990/Form990PartVIISectionAGrp/PersonNm2Neil Amin
IRS990/Form990PartVIISectionAGrp/PersonNm3Karen Wilds
IRS990/Form990PartVIISectionAGrp/PersonNm4Laura Dupuy
IRS990/Form990PartVIISectionAGrp/PersonNm5Andy Kegley
IRS990/Form990PartVIISectionAGrp/PersonNm6Philip Stetson
IRS990/Form990PartVIISectionAGrp/PersonNm7Karen Jacobson
IRS990/Form990PartVIISectionAGrp/PersonNm8Philip Brooks
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt1185173
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt496010
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt2Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt3Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt4Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board Member
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr01996
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt07
IRS990/GovernmentGrantsAmt04000000
IRS990/GrantAmt0175000
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0175000
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0175000
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt04728316
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt07
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InterestGrp/FundraisingAmt00
IRS990/InterestGrp/ManagementAndGeneralAmt05625
IRS990/InterestGrp/ProgramServicesAmt00
IRS990/InterestGrp/TotalAmt05625
IRS990/InvestmentIncomeGrp/ExclusionAmt00
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt030377
IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt00
IRS990/InvestmentInJointVentureInd0true
IRS990/InvestmentsProgramRelatedGrp/BOYAmt02440
IRS990/InvestmentsProgramRelatedGrp/EOYAmt02996
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0To Promote the development of affordable housing for Virginia's poorest and most underserved residents
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt03789713
IRS990/NetAssetsOrFundBalancesEOYAmt07716134
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt02078679
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02210100
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt065
IRS990/OfficeExpensesGrp/ProgramServicesAmt00
IRS990/OfficeExpensesGrp/TotalAmt065
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0Professional Fees
IRS990/OtherExpensesGrp/Desc1Debt Forgivness
IRS990/OtherExpensesGrp/Desc2Bad Debt
IRS990/OtherExpensesGrp/Desc3Other
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/FundraisingAmt10
IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/FundraisingAmt30
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt10
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt316066
IRS990/OtherExpensesGrp/ProgramServicesAmt0145839
IRS990/OtherExpensesGrp/ProgramServicesAmt175000
IRS990/OtherExpensesGrp/ProgramServicesAmt2143809
IRS990/OtherExpensesGrp/ProgramServicesAmt337519
IRS990/OtherExpensesGrp/TotalAmt0145839
IRS990/OtherExpensesGrp/TotalAmt175000
IRS990/OtherExpensesGrp/TotalAmt2143809
IRS990/OtherExpensesGrp/TotalAmt353585
IRS990/OtherLiabilitiesGrp/BOYAmt062917
IRS990/OtherLiabilitiesGrp/EOYAmt037517
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt020297
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0182675
IRS990/OtherSalariesAndWagesGrp/TotalAmt0202972
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt01410037
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt02569315
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Robert Newman
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/BusinessCd3531390
IRS990/ProgramServiceRevenueGrp/Desc0Asset Management Fees
IRS990/ProgramServiceRevenueGrp/Desc1Other Income
IRS990/ProgramServiceRevenueGrp/Desc2Exit Fees
IRS990/ProgramServiceRevenueGrp/Desc3Loan Fees
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/ExclusionAmt20
IRS990/ProgramServiceRevenueGrp/ExclusionAmt30
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0102900
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt121539
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2192000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt36500
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt30
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0450000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt038729
IRS990/PYOtherExpensesAmt0609900
IRS990/PYProgramServiceRevenueAmt0695096
IRS990/PYRevenuesLessExpensesAmt0573925
IRS990/PYTotalExpensesAmt0609900
IRS990/PYTotalRevenueAmt01183825
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt03926421
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt04697939
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Other Income Part II, Line 10 Description: Program Service 2017: 219433. 2018: 355288. 2019: 386357. 2020: 724444. 2021: 322939.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Pt II Ln 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt04375000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0450000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0475000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0355288
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0319571
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt05974859
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt030377
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt09381
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt08629
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt09886
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt012516
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt070789
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0322939
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0724444
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0386357
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0355288
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0219433
IRS990ScheduleA/OtherIncome170Grp/TotalAmt02008461
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.74180
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportPY170Pct00.54440
IRS990ScheduleA/PublicSupportTotal170Amt05974859
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt04375000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0450000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0475000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0355288
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0319571
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt05974859
IRS990ScheduleA/TotalSupportAmt08054109
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DisclosedForCharitablePrpsInd0true
IRS990ScheduleD/DisclosedOrgLegCtrlInd0true
IRS990ScheduleD/ExpensesSubtotalAmt0801895
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt016684
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120833
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Deferred Asset Management Fee
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Deferred Operating Reimbursement Fee
IRS990ScheduleD/RevenueSubtotalAmt04728316
IRS990ScheduleD/TotalExpensesPerForm990Amt0801895
IRS990ScheduleD/TotalLiabilityAmt037517
IRS990ScheduleD/TotalRevenuePerForm990Amt04728316
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04728316
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0801895
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0185173
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt018668
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt014668
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Robert Newman
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0218509
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The President and Treasurer approve the 990 before it
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1is submitted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The parent corporation (VCDC) has a conflict of interest and whistle-blower policy, which also applies to VCDF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Secretary and Treasurer of VCDF were full-time staff of an affiliate, Virginia Community Development Corporation (VCDC). VCDC commissioned a comprehensive compensation (salary and benefits) survey in 2021 to assess the market for comparable compensation for all staff. In addition, VCDC obtains salary and broad benefit comparables through its membership in the National Association of State and Local Equity Funds. The VCDC CEO determines compensation for these positions using this information as reference.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Secretary and Treasurer of VCDF were full-time staff of VCDC that were shared with VCDF and other affiliates. The compensation reported in this return is for the full-time salary and benefits, not for the portion of compensation allocated to VCDF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5VCDC appoints the Board Members.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 7a
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0VCDF Manager Inc
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0271408838
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0Support Related Organizations
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt01840 W Broad Street
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0RICHMOND
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0VA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd023220
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt1NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt2NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt3NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt4NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt5NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt6NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt7NA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0271409145
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN1271409202
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN2271409246

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,280,823
Liabilities
$564,689
Net assets
$7,716,134
Revenue
$4,728,316
Expenses
$801,895
Net income
$3,926,421
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.8$2.33$13.5$2.37$1.47$0.90
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$1.19$12.6$5.58$1.11$4.47
2022Detailed filing. Detailed filing data is available for this year.$9.00$0.88$8.12$1.32$0.91$0.41
2021Detailed filing. Detailed filing data is available for this year.$8.28$0.56$7.72$4.73$0.80$3.93
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.21$0.42$3.79$1.18$0.61$0.57
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.52$0.30$3.22$0.81$0.38$0.43
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.18$0.39$2.79$0.37$0.43$0.06
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.07$0.23$2.85$0.55$0.29$0.26
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.97$0.38$2.59$0.90$0.25$0.65
2015Detailed filing. Detailed filing data is available for this year.$2.33$0.39$1.94$0.31$0.46$0.15
2014Detailed filing. Detailed filing data is available for this year.$2.30$0.21$2.09$0.42$0.49$0.07
2013Detailed filing. Detailed filing data is available for this year.$2.42$0.25$2.16$0.81$0.17$0.64
2012Summary only. Only limited summary data is available for this year.$1.98$0.46$1.52$0.41$0.33$0.08
2011Summary only. Only limited summary data is available for this year.$1.45$0.31$1.14$0.42$0.42$0.00
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • $5M-$10M nonprofits