Virginia Community Development Corp

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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

1990

Legal Domicile

Principal Officer

Robert L Newman

Phone

8043431200

Tax Period

2023-01-01 to 2023-12-31

Virginia Community Development Corp, founded in 1990, is a community nonprofit in the Housing & Shelter sector that reported $2.9M in total revenue in fiscal year 2023. Expenses of $2.7M left a modest 6% surplus.

Mission

Affordable Housing

Program Service Accomplishments

Program 1

Expenses: $1,898,536 Revenue: $2,977,970

n 2023, VCDC raised $45MM in Low Income Housing Tax Credit equity and $2.5MM in historic equity and closed 10 projects in Virginia and West Virginia and had an active portfolio of 140 properties...

n 2023, VCDC raised $45MM in Low Income Housing Tax Credit equity and $2.5MM in historic equity and closed 10 projects in Virginia and West Virginia and had an active portfolio of 140 properties. VCDC is active in the underwriting of these investments and in monitoring the performance of a stabilized portfolio of 138 properties through hands-on asset management. VCDC assists developers with predevelopment planning, arranging financing, construction management, and compliance. VCDC also assists community-based nonprofits develop capacity through various technical assistance activities and organizational development programs.

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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 $106,111

Program Service Revenue $2,755,244

Investment Income $43,113

Other Revenue $0

TOTAL REVENUE $2,904,468

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,834,422

Fundraising Expenses $0

Program Expenses $1,898,536

Other Expenses $883,528

TOTAL EXPENSES $2,717,950

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,904,468	$2,908,414	0.0%
Expenses	$2,717,950	$2,424,200	+0.1%
Net Income	$186,518	$484,214	-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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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

$673,846

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Philip Brooks	Board Chair	1.00	Officer Director	$0	$0	$0
Monica Jefferson	Board Vice Chair	1.00	Officer Director	$0	$0	$0
Karen R Wilds	Board Member	1.00	Director	$0	$0	$0
Robert J Adams	Board Member	1.00	Director	$0	$0	$0
Neil Amin	Board Member	1.00	Director	$0	$0	$0
Mike Chiappa	Board Member	1.00	Director	$0	$0	$0
Susan Dewey	Board Member	1.00	Director	$0	$0	$0
Karen Klick	Board Member	1.00	Director	$0	$0	$0
N/A	Board Member	1.00	Director	$0	$0	$0
N/A	Board Member	1.00	Director	$0	$0	$0
Manju Ganeriwala	Board Member	1.00	Director	$0	$0	$0
Jonathan Knopf	Board Member	1.00	Director	$0	$0	$0
Jason Long	Board Member	1.00	Director	$0	$0	$0
Robert L Newman	President & CEO	30.00	Officer	$232,781	$52,191	$284,972
Chris Sterling	Vice President and COO	34.00	Officer	$163,555	$40,612	$204,167
Jeff Meyer	Director of Project Development	40.00	Highest	$133,500	$13,803	$147,303
Russ Parrish	Treasurer/Chief Financial Officer	32.00	Officer	$139,170	$45,537	$184,707
Bernard Rogers	Director of Equity Funds & Investor Relations	40.00	Highest	$131,356	$39,491	$170,847
Steve Bleile	Director of Project Development	40.00	Highest	$130,811	$27,140	$157,951

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	$2,904,468	$2,717,950	$7,756,782	$186,518
2022	$2,908,414	$2,424,200	$7,623,657	$484,214
2021	$2,927,830	$1,920,619	$7,085,442	$1,007,211
2020	$3,108,418	$2,093,950	$6,900,666	$1,014,468
2019	$2,968,215	$2,575,791	$5,481,484	$392,424
2018	$3,053,612	$2,693,405	$5,171,193	$360,207