FAIRFAX EDUCATION ASSOCIATION RETIREMENT HOUSING CORPORATION

EIN: 541031421 501(c)(3)

VIENNA, VA

Total Revenue
$5,799,715
Total Expenses
$4,187,168
Total Assets
$29,656,261
Net Assets
$12,302,690
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1973
Legal Domicile
VA
Principal Officer
DENNIS PFENNIG
Phone
7032812080
Tax Period
2023-01-01 to 2023-12-31

FAIRFAX EDUCATION ASSOCIATION RETIREMENT HOUSING CORP T/A TYSONS TOWER, founded in 1973, is a community nonprofit that reported $3.9M in total revenue in fiscal year 2018. Revenue decreased 12% compared to the prior year.

Mission

PROVIDE AFFORDABLE HOUSING FOR RETIRED EDUCATORS, ELDERLY PERSONS, AND HANDICAPPED PERSONS IN A 274 UNIT APARTMENT BUILDING.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $5,313,522
Investment Income $465,592
Other Revenue $20,601
TOTAL REVENUE $5,799,715

Expense Breakdown

Grants Paid $0
Salaries & Benefits $730,455
Fundraising Expenses $0
Program Expenses $3,980,578
Other Expenses $3,456,713
TOTAL EXPENSES $4,187,168

Year-over-Year Comparison

2023 2022 Change
Revenue $5,799,715 $5,307,616 +0.1%
Expenses $4,187,168 $4,327,178 0.0%
Net Income $1,612,547 $980,438 +0.6%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
12
Volunteers
11

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
3
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DENNIS J PFENNIG PRESIDENT 1.50
Officer Director
$0 $0 $0
MIMI DASH VICE PRESIDENT 1.50
Officer Director
$0 $0 $0
KAREN BEASLEY SECRETARY-TREASURER 1.50
Officer Director
$0 $0 $0
ALLISON BATTY DIRECTOR 1.50
Director
$0 $0 $0
KATHRYN A DAVIS DIRECTOR 1.50
Director
$0 $0 $0
MARY GONZALEZ DIRECTOR 1.50
Director
$0 $0 $0
MICHAEL HAIRSTON DIRECTOR 1.50
Director
$0 $0 $0
JANE MCDONALD DIRECTOR 1.50
Director
$0 $0 $0
CHERYL PERRY DIRECTOR UNTIL 06/2023 1.50
Director
$0 $0 $0
KITTY REIP DIRECTOR 1.50
Director
$0 $0 $0
LARRY N ARMENTROUT DIRECTOR UNTIL 06/2023 1.50
Director
$0 $0 $0
RICHARD KITCH BUILDING ENGINEER 40.00
Highest
$106,492 $9,766 $116,258
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 $5,799,715 $4,187,168 $29,656,261 $1,612,547
2022 $5,307,616 $4,327,178 $28,330,253 $980,438
2021 $5,034,125 $4,012,377 $27,622,321 $1,021,748
2020 $4,960,827 $3,636,156 $26,840,180 $1,324,671
2019 $4,781,698 $3,986,952 $25,797,520 $794,746
2018 $3,928,917 $4,168,518 $26,801,227 $-239,601
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