ELDERHOMES CORPORATION

EIN: 541595851 501(c)(3) Housing & Shelter

RICHMOND, VA

Total Revenue
$27,082,665
Total Expenses
$26,474,469
Total Assets
$19,225,332
Net Assets
$16,791,117
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Financial Trends

Organization Details

Formation Year
1992
Legal Domicile
VA
Principal Officer
LEE HOUSEHOLDER
Phone
8042332827
Tax Period
2024-07-01 to 2025-06-30

ELDERHOMES CORPORATION, founded in 1992, is a mid-sized nonprofit in the Housing & Shelter sector that reported $12.1M in total revenue in fiscal year 2018. Revenue grew 11% year-over-year, indicating healthy expansion. Expenses of $11.6M left a modest 4% surplus.

Mission

OUR MISSION IS TO IMPROVE THE HOUSING AND LIVING CONDITIONS OF ELDERLY, DISABLED, AND LOW-INCOME PERSONS IN RICHMOND AND SURROUNDING LOCALITIES.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $22,736,289
Program Service Revenue $4,161,680
Investment Income $135,305
Other Revenue $49,391
TOTAL REVENUE $27,082,665

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,946,382
Fundraising Expenses $231,430
Program Expenses $24,785,008
Other Expenses $21,528,087
TOTAL EXPENSES $26,474,469

Year-over-Year Comparison

2024 2023 Change
Revenue $27,082,665 $25,889,049 +0.0%
Expenses $26,474,469 $25,037,384 +0.1%
Net Income $608,196 $851,665 -0.3%
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
13
Independent Members
13
Employees
68
Volunteers
1000

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
5
$425,896
Total Directors
13
$0
Key Employees
1
$169,352
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DANA BALLENGER BOARD MEMBER 1.00
Director
$0 $0 $0
ART BOWEN BOARD MEMBER 1.00
Director
$0 $0 $0
JONATHAN FRANK BOARD MEMBER 1.00
Director
$0 $0 $0
ANNE GARRETT BOARD MEMBER 1.00
Director
$0 $0 $0
ARETHA HARRIS BOARD MEMBER 1.00
Director
$0 $0 $0
REBECCA MCNAMARA BOARD MEMBER 1.00
Director
$0 $0 $0
HUNTER SNELLINGS BOARD MEMBER 1.00
Director
$0 $0 $0
PATRICIA TROTTA BOARD MEMBER 1.00
Director
$0 $0 $0
BARBARA VAUGHAN BOARD MEMBER 1.00
Director
$0 $0 $0
STEVEN A BENHAM SR BOARD MEMBER 1.00
Director
$0 $0 $0
JOHN TULL CHAIRMAN 1.00
Officer Director
$0 $0 $0
JOHN THANIEL VICE CHAIRMAN 1.00
Officer Director
$0 $0 $0
BILLY TRIGG SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
LEE HOUSEHOLDER EXECUTIVE DIRECTOR 40.00
Officer
$225,695 $19,721 $245,416
SHELIA WALTERS CHIEF FINANCIAL OFFICER - ENDED 5/25 40.00
Officer
$163,226 $17,254 $180,480
MARION CAKE VP AFFORDABLE HOUSING 40.00
Key Emp
$152,576 $16,776 $169,352
BRYAN BURRIS VP ENERGY CONSERVATION 40.00
Highest
$138,306 $16,163 $154,469
MATT HINKLE VP OPERATIONS 40.00
Highest
$119,811 $21,081 $140,892
MATT MORGAN DIRECTOR OF AFFORDABLE HOU 40.00
Highest
$114,994 $15,383 $130,377
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
2025 $27,082,665 $26,474,469 $19,225,332 $608,196
2024 $25,889,049 $25,037,384 $19,513,548 $851,665
2023 $23,573,654 $22,674,031 $17,850,876 $899,623
2022 $21,894,456 $18,770,592 $14,660,799 $3,123,864
2021 $15,193,147 $13,714,549 $10,487,252 $1,478,598
2020 $15,243,546 $14,367,193 $10,626,700 $876,353
2019 $12,146,960 $11,617,103 $8,693,589 $529,857
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