ALEXANDRIA HOUSING DEVELOPMENT COR… - 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

2004

Legal Domicile

Principal Officer

JONATHAN FREDERICK

Phone

7037397775

Tax Period

2023-01-01 to 2023-12-31

ALEXANDRIA HOUSING DEVELOPMENT CORPORATION, founded in 2004, is a mid-sized nonprofit in the Housing & Shelter sector that reported $14.1M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $19.1M exceeded revenue, resulting in a 35% operating deficit.

Mission

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO DEVELOP AND PRESERVE AFFORDABLE HOUSING IN THE CITY OF ALEXANDRIA, VA.

Program Service Accomplishments

Program 1

Expenses: $11,923,627 Revenue: $8,314,390

THE ORGANIZATION ACQUIRED PARKSTONE ALEXANDRIA APARTMENTS ON JANUARY 28, 2020. THE ORGANIZATION OWNS AND OPERATES THIS 326-UNIT APARTMENT COMPLEX LOCATED IN ALEXANDRIA, VIRGINIA. THE ORGANIZATION IS THE SOLE MEMBER AND DEVELOPER FOR AHDC PC DR, LLC.IN 2023, A UNIT AT PARKSTONE WAS RENOVATED TO TEMPORARILY RELOCATE THE SHELTERED HOMES OF ALEXANDRIA RESIDENTS LIVING ON THE SITE OF THE FUTURE SEMINARY ROAD DEVELOPMENT.

Program 2

Expenses: $3,788,982 Revenue: $3,945,020

IN FEBRUARY 2022, THE ORGANIZATION ACQUIRED THE SQUARE AT 511 (FORMALLY PARK VUE APARTMENTS). THIS ACQUISITION PRESERVED A MARKET RATE PROPERTY FOR PERMANENT AFFORDABILITY. AS A RESULT OF THIS...

IN FEBRUARY 2022, THE ORGANIZATION ACQUIRED THE SQUARE AT 511 (FORMALLY PARK VUE APARTMENTS). THIS ACQUISITION PRESERVED A MARKET RATE PROPERTY FOR PERMANENT AFFORDABILITY. AS A RESULT OF THIS ACQUISITION BY THE ORGANIZATION, ALL 196 UNITS WILL BE PERMANENTLY RESTRICTED TO RENTS NOT TO EXCEED 60% OF AREA MEDIAN INCOME.

Program 3

Expenses: $1,324,135 Revenue: $304,900

THE SHARED EQUITY HOMEOWNERSHIP PROGRAM WAS FINALIZED IN 2023. THE PROJECT UNDER THIS PROGRAM IS UNDER CONSTRUCTION. HOUSING ALEXANDRIA SEMINARY ROAD DEVELOPMENT WILL MAKE HOMEBUYING MORE AFFORDABLE IN ALEXANDRIA BY BUILDING 36 NEW HOMES FOR FAMILIES. IN 2023, HOUSING ALEXANDRIA MADE SIGNIFICANT PROGRESS TOWARDS COMPLETING THIS PROJECT. FUNDING AWARDS INCLUDE $5.0MM FROM THE CITY OF ALEXANDRIA, $2.5MM FROM VIRGINIA HOUSING, AND $500,000 FROM THE NORTHERN VIRGINIA REGIONAL COMMISSION.

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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 $1,003,620

Program Service Revenue $12,972,988

Investment Income $153,691

Other Revenue $-19,223

TOTAL REVENUE $14,111,076

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,976,848

Fundraising Expenses $73,173

Program Expenses $17,467,099

Other Expenses $16,107,511

TOTAL EXPENSES $19,106,236

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,111,076	$12,284,689	+0.1%
Expenses	$19,106,236	$17,486,321	+0.1%
Net Income	$-4,995,160	$-5,201,632	0.0%

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

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

$277,163

Total Directors

Key Employees

$366,282

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL ABRAMSON	CHAIR	5.00	Officer Director	$0	$0	$0
CHRISTINA STACY	VICE CHAIR	2.00	Officer Director	$0	$0	$0
JOHN CORRADO	SECRETARY	2.00	Officer Director	$0	$0	$0
CATHERINE WHITE	DIRECTOR	2.00	Director	$0	$0	$0
JOE RESENDE	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL CAISON	DIRECTOR	2.00	Director	$0	$0	$0
CHARLES PITTMAN	DIRECTOR	2.00	Director	$0	$0	$0
ALYSON MINITER	TREASURER	2.00	Officer Director	$0	$0	$0
CATHERINE PHARIS	DIRECTOR UNTIL 12/23	2.00	Director	$0	$0	$0
MEGAN GLASHEEN	DIRECTOR UNTIL 12/23	2.00	Director	$0	$0	$0
ROBERT BURNS	DIRECTOR UNTIL 12/23	2.00	Director	$0	$0	$0
JON FREDERICK	PRESIDENT & CEO	40.00	Officer	$244,124	$33,039	$277,163
AARON REMOLONA	DIRECTOR OF REAL ESTATE	40.00	Key Emp	$160,961	$15,370	$176,331
ELISA MONDRAGON	CHIEF OPERATING OFFICER	40.00	Key Emp	$167,029	$22,922	$189,951
KAYLA HORNBROOK	VP OF COMMUNITY RELATION	40.00	Highest	$104,407	$24,303	$128,710
FANG BUCHANAN	CONTROLLER	40.00	Highest	$110,498	$5,415	$115,913
MATTHEW RHODES	SENIOR REAL ESTATE PROJECT MANAGER	40.00	Highest	$109,812	$5,069	$114,881

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	$14,111,076	$19,106,236	$211,634,366	$-4,995,160
2022	$12,284,689	$17,486,321	$186,839,612	$-5,201,632
2021	$8,689,601	$13,464,612	$129,711,642	$-4,775,011
2020	$10,053,234	$13,094,575	$129,845,902	$-3,041,341
2019	$3,608,241	$1,414,783	$21,970,340	$2,193,458
2018	$4,500,719	$2,841,324	$13,583,730	$1,659,395

ALEXANDRIA HOUSING DEVELOPMENT CORPORATION