FCHC VIRGINIA COMMUNITY DEVELOPMEN… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1981

Legal Domicile

Principal Officer

ALLA ELEON

Phone

7032415402

Tax Period

2023-01-01 to 2023-12-31

FCHC VIRGINIA COMMUNITY DEVELOPMENT CORPORATION, founded in 1981, is a community nonprofit in the Housing & Shelter sector that reported $1.9M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $1.8M left a modest 6% surplus.

Mission

TO EXPAND AND IMPROVE HOUSING OPPORTUNITIES FOR LOW- AND MODERATE-INCOME HOUSEHOLDS IN THE WASHINGTON D.C. METRO AREA, INCLUDING PROVIDING LOANS FOR THE PREDEVELOPMENT AND ACQUISITION OF AFFORDABLE HOUSING PROPERTIES.

Program Service Accomplishments

Program 1

Expenses: $1,243,223 Revenue: $622,466

THROUGH ITS OWNERSHIP IN WINTER HILL APARTMENTS (AS THE CONTROLLING MEMBER OF FALLS CHURCH WINTER HILL, LLC, THE OWNING ENTITY OF THE PROPERTY), THE CORPORATION PROVIDED 83 UNITS OF AFFORDABLE...

THROUGH ITS OWNERSHIP IN WINTER HILL APARTMENTS (AS THE CONTROLLING MEMBER OF FALLS CHURCH WINTER HILL, LLC, THE OWNING ENTITY OF THE PROPERTY), THE CORPORATION PROVIDED 83 UNITS OF AFFORDABLE HOUSING FOR LOW INCOME PERSONS AND THEIR FAMILIES. THE CORPORATION PROVIDES FUNDING FOR THE RESIDENT SERVICES PROGRAMMING TO THESE INDIVIDUALS.

Program 2

Expenses: $334,383 Revenue: $98,196

THE CORPORATION PROVIDES PRE-DEVELOPMENT/ACQUISITION/BRIDGE LOANS TO FOSTER THE DEVELOPMENT OF AFFORDABLE HOUSING PROPERTIES IN THE WASHINGTON D.C. METRO AREA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,083,806

Program Service Revenue $720,662

Investment Income $76,156

Other Revenue $0

TOTAL REVENUE $1,880,624

Expense Breakdown

Grants Paid $25,000

Salaries & Benefits $613,550

Fundraising Expenses $0

Program Expenses $1,577,606

Other Expenses $1,129,335

TOTAL EXPENSES $1,767,885

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,880,624	$1,593,003	+0.2%
Expenses	$1,767,885	$1,793,181	0.0%
Net Income	$112,739	$-200,178	-1.6%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,583,103

Total Directors

$1,025,202

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD F BURNS	PRESIDENT	2.00	Officer Director	$0	$17,654	$717,652
THOMAS G VACCARO	COO AND SECRETARY	40.00	Officer Director	$273,654	$33,896	$307,550
DONG BUI	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH P WIEDORFER	VICE PRESIDENT	2.00	Officer	$0	$21,122	$350,737
STEPHEN M GREEN	VICE PRESIDENT	1.00	Officer	$0	$37,708	$567,708
ALLA ELEON	TREASURER AND CAO	1.00	Officer	$0	$24,598	$349,021
FREDERICK MITCHELL	SENIOR VICE PRESIDENT	3.00	Officer	$0	$10,435	$290,435

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$1,880,624	$1,767,885	$7,597,717	$112,739
2022	$1,593,003	$1,793,181	$7,630,224	$-200,178
2021	$1,554,509	$1,749,153	$7,966,578	$-194,644
2020	$1,524,323	$1,583,300	$8,310,758	$-58,977
2019	$1,533,552	$1,783,779	$8,344,127	$-250,227
2018	$1,462,914	$1,870,789	$9,031,196	$-407,875

FCHC VIRGINIA COMMUNITY DEVELOPMENT CORPORATION