VIRGINIA COMMUNITY DEVELOPMENT FUND INC: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- VIRGINIA COMMUNITY DEVELOPMENT FUND INC (EIN 54-1914519)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-17
- IRS object ID
- 202533219349319058
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-17T13:39:46-08:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 541950231 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DOOLEY & VICARS CERTIFIED PUBLIC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1100 BOULDERS PARKWAY | AddressLine1Txt |
| City | NORTH CHESTERFIELD | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23225 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 541914519 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Virginia Community Development Fund Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | VIRG | BusinessNameControlTxt |
| Phone | 8043431200 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 115 South 15th Street | AddressLine1Txt |
| City | Richmond | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23219 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Russ Parrish | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 8043431200 | PhoneNum |
| Signature | 2025-11-17 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Thomas E Turner CPA | PreparerPersonNm |
| PTIN | P01275584 | PTIN |
| Phone | 8043552808 | PhoneNum |
| Preparation | 2025-11-17 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Chris Sterling | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 115 South 15th Street | AddressLine1Txt |
| City | Richmond | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23219 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $2,374,234 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1996 | FormationYr |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Activity Or Mission | VCDF provides alternative financing and technical assistance to real estate developers engaged in the creation or preservation of affordable housing, community development, and economic development projects throughout our service areas of Virginia and West Virginia. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 7 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $4,994,605 | PYContributionsGrantsAmt |
| CY Contributions Grants | $1,131,675 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $430,256 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $826,957 | CYProgramServiceRevenueAmt |
| PY Investment Income | $150,870 | PYInvestmentIncomeAmt |
| CY Investment Income | $415,602 | CYInvestmentIncomeAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $5,575,731 | PYTotalRevenueAmt |
| CY Total Revenue | $2,374,234 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $242,570 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $261,367 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $864,057 | PYOtherExpensesAmt |
| CY Other Expenses | $1,210,847 | CYOtherExpensesAmt |
| PY Total Expenses | $1,106,627 | PYTotalExpensesAmt |
| CY Total Expenses | $1,472,214 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $4,469,104 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $902,020 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $13,782,493 | TotalAssetsBOYAmt |
| Total Assets EOY | $15,822,893 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $1,191,372 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,329,763 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $12,591,121 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $13,493,130 | NetAssetsOrFundBalancesEOYAmt |
| Mission | VCDF provides alternative financing and technical assistance to real estate developers engaged in the creation or preservation of affordable housing, community development, and economic development projects throughout our service areas of Virginia and West Virginia. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $1,319,095 | ExpenseAmt |
| Grant | $0 | GrantAmt |
| Revenue | $826,957 | RevenueAmt |
| Desc | VCDF is a subsidiary of VCDC, which invests equity into community development project with a focus on affordable housing. VCDF is a certified Community Development Financial Institution (CDFI) and applies its focus to other tools to assist in the development of these projects, primarily through affordable loans to Low Income Housing Tax Credit projects and through economic development loans in low income communities. In addition, VCDF offers a technical assistance program to its partners and borrowers. VCDF is also a Certified Development Entity (CDE) and thereby can apply to the US Treasurys New Market Tax Credit program (NMTC) for allocation of credits for investment in economic development projects. VCDF received its second allocation of NMTCs in the 2018 2018 round for $35,000,000 , and those NMTCs have been fully deployed. VCDF will continue to apply for new rounds of NMTCs and intends to continue to invest in community facilities as well as mixed-use projects. | Desc |
| Total Program Service Expenses | $1,319,095 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | Yes (true) | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | false | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | false | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (true) | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | Yes (true) | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (true) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | false | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 9 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| DAF Excess Business Holdings | false | DAFExcessBusinessHoldingsInd |
| Taxable Distributions | false | TaxableDistributionsInd |
| Distribution To Donor | false | DistributionToDonorInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 7 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | false | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (true) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (true) | WrittenPolicyOrProcedureInd |
| States Where Copy Of Return Is Fld | VA | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Russ Parrish | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 8044825387 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 15 South 15th Street Suite 501 | AddressLine1Txt |
| City | Richmond | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23219 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| John PSalop | ||||||
| President | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Robert Newman | ||||||
| Treasurer | 2.00 | Yes (X) | $0 | $221,913 | $41,179 | |
| Neil Amin | ||||||
| Board Member | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Karen Wilds | ||||||
| Vice President | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Laura Dupuy | ||||||
| Secretary | 38.00 | Yes (X) | $0 | $115,000 | $19,224 | |
| Andy Kegley | ||||||
| Board Member | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Philip Stetson | ||||||
| Board Member | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Karen Jacobson | ||||||
| Board Member | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Philip Brooks | ||||||
| Board Member | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Junior Burr | ||||||
| Board Member | 1.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $336,913 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $60,403 | TotalOtherCompensationAmt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Ariel Ventures LLC | PersonNm |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1163 East 40th Street 201 | AddressLine1Txt |
| City | Cleveland | CityNm |
| State Abbreviation | OH | StateAbbreviationCd |
| ZIP | 44114 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | Professional Fees | ServicesDesc |
| Compensation | $151,600 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $1,131,675 | AllOtherContributionsAmt |
| Total Contributions | $1,131,675 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|
| Asset Management Fees | 531390 | $372,424 | $0 | $0 |
| Other Income | 531390 | $338,959 | $0 | $0 |
| NMTC Fee Revenue | 531390 | $75,774 | $0 | $0 |
| Loan Fees | 531390 | $39,800 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $826,957 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $415,602 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,374,234 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,242,559 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $261,367 | TotalAmt |
| Program Services | $235,230 | ProgramServicesAmt |
| Management And General | $26,137 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $217 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $217 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,295 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $33,295 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $185,948 | TotalAmt |
| Program Services | $185,948 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| Professional Fees | $738,200 | $738,200 | $0 | $0 |
| Debt Forgivness | $75,000 | $75,000 | $0 | $0 |
| Bad Debt | $84,717 | $84,717 | $0 | $0 |
| Other | $93,470 | $0 | $93,470 | $0 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,472,214 | TotalAmt |
| Program Services | $1,319,095 | ProgramServicesAmt |
| Management And General | $153,119 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,156,058 | BOYAmt |
| EOY | $4,350,772 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $55,182 | BOYAmt |
| EOY | $810,479 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,556,889 | BOYAmt |
| EOY | $10,656,879 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,236 | BOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,128 | BOYAmt |
| EOY | $4,763 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,782,493 | BOYAmt |
| EOY | $15,822,893 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $87,785 | BOYAmt |
| EOY | $76,176 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,103,587 | BOYAmt |
| EOY | $2,253,587 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,191,372 | BOYAmt |
| EOY | $2,329,763 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,840,227 | BOYAmt |
| EOY | $3,313,184 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,750,894 | BOYAmt |
| EOY | $10,179,946 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $12,591,121 | BOYAmt |
| EOY | $13,493,130 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,782,493 | BOYAmt |
| EOY | $15,822,893 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $902,020 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$11 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consol And Sep Basis Fincl Stmt | Yes (X) | ConsolAndSepBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (true) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (true) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
| Other Support Sum | $0 | OtherSupportSumAmt |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $450,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,375,000 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $375,000 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,994,605 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,131,675 | CurrentTaxYearAmt |
| Total | $11,326,280 | TotalAmt |
Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $450,000 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,375,000 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $375,000 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,994,605 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,131,675 | CurrentTaxYearAmt |
| Total | $11,326,280 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $0 | SubstantialContributorsTotAmt |
| Public Support Total170 | $11,326,280 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $9,381 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $30,377 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $74,462 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $150,870 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $415,602 | CurrentTaxYearAmt |
| Total | $680,692 | TotalAmt |
Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $724,444 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $322,939 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $870,724 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $430,256 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $826,957 | CurrentTaxYearAmt |
| Total | $3,175,320 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $15,182,292 | TotalSupportAmt |
| Public Support CY170 | 0.74600 | PublicSupportCY170Pct |
| Public Support PY170 | 0.80540 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
| Public Support Total509 | $0 | PublicSupportTotal509Amt |
| Public Support CY509 | 0 | PublicSupportCY509Pct |
| Investment Income CY | 0 | InvestmentIncomeCYPct |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Pt II Ln 10 | FormAndLineReferenceDesc |
| Explanation | Other Income Part II, Line 10 Description: Program Service 2020: 724444. 2021: 322939. 2022: 870724. 2023: 430256. 2024: 826957. | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Disclosed Org Leg Ctrl | Yes (true) | DisclosedOrgLegCtrlInd |
| Disclosed For Charitable Prps | Yes (true) | DisclosedForCharitablePrpsInd |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| Accrued Interest | $1,274 |
| Investment in Partnerships | $3,489 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $4,763 | TotalBookValueOtherAssetsAmt |
| Total Rev Etc Audited Fincl Stmt | $2,374,234 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Subtotal | $2,374,234 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $2,374,234 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $1,472,214 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $1,472,214 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $1,472,214 | TotalExpensesPerForm990Amt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Robert Newman | PersonNm |
| Base Compensation Filing Org | $0 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $221,913 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $22,400 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $0 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $18,779 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $0 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $263,092 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Pt VI, Line 11b | The President and Treasurer approve the 990 before it |
| Pt VI, Line 11b | is submitted. |
| Pt VI, Line 12c | The parent corporation (VCDC) has a conflict of interest and whistle-blower policy, which also applies to VCDF. |
| Pt VI, Line 15a | The Secretary and Treasurer of VCDF were full-time staff of an affiliate, Virginia Community Development Corporation (VCDC). VCDC commissioned a comprehensive compensation (salary and benefits) survey in 2021 to assess the market for comparable compensation for all staff. In addition, VCDC obtains salary and broad benefit comparables through its membership in the National Association of State and Local Equity Funds. The VCDC CEO determines compensation for these positions using this information as reference. |
| Pt VI, Line 15b | The Secretary and Treasurer of VCDF were full-time staff of VCDC that were shared with VCDF and other affiliates. The compensation reported in this return is for the full-time salary and benefits, not for the portion of compensation allocated to VCDF. |
| Pt VI, Line 7a | VCDC appoints the Board Members. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VCDF Manager Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1840 W Broad Street | AddressLine1Txt |
| City | RICHMOND | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23220 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 271408838 | EIN |
| Primary Activities | Support Related Organizations | PrimaryActivitiesTxt |
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Virginia Community Development Corp | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1840 W Broad Street | AddressLine1Txt |
| City | Richmond | CityNm |
| State Abbreviation | VA | StateAbbreviationCd |
| ZIP | 23220 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 541533426 | EIN |
| Primary Activities | Affordable Housing | PrimaryActivitiesTxt |
| Legal Domicile State | VA | LegalDomicileStateCd |
| Exempt Code Section | 501 (c)3 | ExemptCodeSectionTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NA | BusinessNameLine1Txt |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (7 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Predominant Income TypePredominantIncomeTypeTxt | OwnershipOwnershipPct |
|---|---|---|---|---|---|---|---|---|---|
| VCDF Community Development 4 LLC | |||||||||
| 1840 West Broad St | Richmond | VA | 23220 | 271409202 | Community Development | VA | NA | REL | 0.00000 |
| VCDF Community Development 5 LLC | |||||||||
| 1840 West Broad St | Richmond | VA | 23220 | 271409246 | Community Development | VA | NA | REL | 0.00000 |
| VCDF Community Development 6 LLC | |||||||||
| 1840 West Broad St | Richmond | VA | 23220 | 271409297 | Community Development | VA | NA | REL | 0.00000 |
| VCDF Community Development 7 LLC | |||||||||
| 1840 West Broad St | Richmond | VA | 23220 | 271409427 | Community Development | VA | NA | REL | 0.00000 |
| VCDF Community Development 8 LLC | |||||||||
| 1840 West Broad St | Richmond | VA | 23220 | 271409387 | Community Development | VA | NA | REL | 0.00000 |
| VCDF Community Development 9 LLC | |||||||||
| 1840 West Broad St | Richmond | VA | 23220 | 271409484 | Community Development | VA | NA | REL | 0.00000 |
| VCDF Community Development 10 LLC | |||||||||
| 1840 West Broad St | Richmond | VA | 23220 | 171409529 | Community Development | VA | NA | REL | 0.00000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (true) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (true) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (true) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (true) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (9 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| Virginia Community Development Corp | ||
| n | $5,544,247 | Actual |
| Virginia Community Development Corp | ||
| m,n,l | Actual | |
| VCDF Community Development 4 LLC | ||
| n | Actual | |
| VCDF Community Development 5 LLC | ||
| n | Actual | |
| VCDF Community Development 6 LLC | ||
| n | Actual | |
| VCDF Community Development 7 LLC | ||
| n | Actual | |
| VCDF Community Development 8 LLC | ||
| n | Actual | |
| VCDF Community Development 9 LLC | ||
| n | Actual | |
| VCDF Community Development 10 LLC | ||
| n | Actual | |