Overview
What is Fchc Virginia Community Development Corporation?
Fchc Virginia Community Development Corporation is a nonprofit organization situated in Falls Church, Virginia. Their primary mission is to preserve and create affordable rental housing, as well as provide predevelopment funding. Through their ownership of Winter Hill Apartments, they offer 83 units of housing for low-income individuals and families. In addition to providing the property, they also fund resident services programming for these residents. Overall, their goal is to enhance housing opportunities for low- and moderate-income households in the Washington metro area.
Official website here: www.fchccdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 62%)
Fchc Virginia Community Development Corporation has received a rating indicating that it needs improvement, with an overall score of 62%. The organization demonstrates some strengths in its financial accountability, achieving full points for its financial statements audit and showing no material diversion of assets. Additionally, it maintains a solid program expense ratio of 89.79%, suggesting that a large portion of its budget is directed towards its programs.
However, the organization faces significant challenges regarding governance. Only 33% of its board members are independent, earning zero points in that category, and the independent board size is limited to just one member. Furthermore, it lacks essential policies such as document retention and destruction, and it has not posted its tax form on its website, which are critical for transparency and accountability.
The salaries of key personnel are notably high, which may raise questions about the allocation of funds within the organization. With a liabilities to assets ratio of 93.47%, financial stability may also be a concern. Overall, while Fchc Virginia Community Development Corporation shows potential in its programming, it must address its governance and transparency practices to enhance its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Fchc Virginia Community Development Corporation legitimate?
Fchc Virginia Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fchc Virginia Community Development Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $241,060
Professional Fundraising Fees: $0
Other Salaries and Wages: $70,962
For more financial information, click here
Official website here: www.fchccdc.org
What is the mission statement of Fchc Virginia Community Development Corporation?
The mission of Fchc Virginia Community Development Corporation is centered around preserving and creating more affordable rental housing. This organization strives to expand and enhance housing opportunities for low- and moderate-income households in the Washington metro area. One of their key activities involves providing loans for the predevelopment and acquisition of affordable housing properties. As an example, they have contributed to the provision of 83 units of affordable housing in Winter Hill Apartments, catering to low-income individuals and their families. Furthermore, they offer funding for resident services programming to support these individuals living in these affordable housing units.
Official website here: www.fchccdc.org
Who is the CEO of Fchc Virginia Community Development Corporation?
Alla Eleon is the President of Fchc Virginia Community Development Corporation.
Official website here: www.fchccdc.org
What is the revenue of Fchc Virginia Community Development Corporation?
Fchc Virginia Community Development Corporation's revenue in 2022 was $1,593,003.
Official website here: www.fchccdc.org
Who are the executives of Fchc Virginia Community Development Corporation and what are their salaries?
The average compensation at Fchc Virginia Community Development Corporation during 2022 was $312,022. There is 1 employee at Fchc Virginia Community Development Corporation.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $698,152
- Other: $16,990
- Compensation: $241,060
- Related: $0
- Other: $35,979
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $277,541
- Other: $19,908
- Compensation: $0
- Related: $479,781
- Other: $32,145
- Compensation: $0
- Related: $301,039
- Other: $26,944
- Compensation: $0
- Related: $261,998
- Other: $15,840
- Compensation: $0
- Related: $396,590
- Other: $0
Official website here: www.fchccdc.org
Where can I find the form 990 for Fchc Virginia Community Development Corporation?
Fchc Virginia Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fchccdc.org
Learn more at the official website: www.fchccdc.org
Mission Statement of Fchc Virginia Community Development Corporation
FCHC Virginia Community Development Corporation is dedicated to preserving and creating more affordable rental housing opportunities. Their mission extends beyond this, aiming to provide predevelopment funding to further enhance housing prospects for low- and moderate-income households in the Washington metro area. In pursuit of this goal, the corporation assumes control of Winter Hill Apartments, offering 83 units of affordable housing to individuals and families with low incomes. In addition to providing housing, FCHC also funds resident services programming for these inhabitants, ensuring they receive the necessary support.
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Impact
July, 2024
Fchc Virginia Community Development Corporation's impact includes the provision of 83 units of affordable housing for low-income individuals and families in Falls Church, VA. Additionally, the corporation funds resident services programming for these individuals. Their mission is to expand and improve housing opportunities for low- and moderate-income households in the Washington Metro Area by providing financial support for the predevelopment and acquisition of affordable housing properties.
This information is meant to be a general summary of Fchc Virginia Community Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $402
- Program Service Revenue: $610,146
- Gross Receipts: $1,593,003
Assets and Liabilities:
- Total Assets: $7,630,224
- Total Liabilities: $7,132,138
- Net Assets: $498,086
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$535,264
LOAN INTEREST INCOME
Revenue
$67,990
OTHER INCOME
Revenue
$3,757
LAUNDRY & VENDING
Revenue
$1,960
TENANT CHARGES
Revenue
$1,175
Organization Details
Founding Year
1981
Phone
(703) 241-5402Principal Officer
Alla Eleon
Main Address
330-B SOUTH VIRGINA AVE STE 2, FALLS CHURCH, VA, 22046
Website
www.fchccdc.orgNTEE Category
Code: L210 - Housing
If you are a representative of Fchc Virginia Community Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.