2025-08-21T12:52:56-05:00 2024-12-31 540504608 BROWN EDWARDS & COMPANY LLP 3906 ELECTRIC ROAD ROANOKE VA 24018 990 2024-01-01 471045682 RESTORATION HOUSING INC REST 9178879840 1116 MAIN STREET STEB ROANOKE VA 24015 ISABEL THORNTON EXECUTIVE DIRECTOR 9178879840 2025-08-18 1 1 RICHARD HEDLEY P00936170 5403450936 2025-07-24 2024 2025-03-06 01:10:19Z ISABEL THORNTON 1116 MAIN STREET STE B ROANOKE VA 24015 1240303 0 X RESTORATIONHOUSING.ORG X 2014 VA OUR MISSION IS TO CREATE AND ASSIST IN DEVELOPMENT PROJECTS WITH A FOCUS ON HISTORIC PRESERVATION OF ARCHITECTURAL RESOURCES. OUR PROJECTS ARE INTENDED TO BOTH ADDRESS THE NEEDS OF LIMITED INCOME FAMILIES AND TO STRENGTHEN THE COMMUNITY BY REDUCING BLIGHT AND VACANCY 9 9 4 31 0 0 568089 1021609 36600 170142 177 245 20314 -10743 625180 1181253 0 0 0 0 96327 151305 0 0 54176 52983 117362 149310 268667 475870 912586 2417472 3685787 115991 472148 2301481 3213639 X OUR MISSION IS TO CREATE AND ASSIST IN DEVELOPMENT PROJECTS WITH A FOCUS ON HISTORIC PRESERVATION OF ARCHITECTURAL RESOURCES. OUR PROJECTS ARE INTENDED TO BOTH ADDRESS THE NEEDS OF LIMITED INCOME FAMILIES AND TO STRENGTHEN THE COMMUNITY BY REDUCING BLIGHT AND VACANCY 0 0 106027 215307 OUR ORGANIZATION BEGAN 2024 BY PURCHASING OUR EIGHTH HISTORIC PROPERTY AFTER RECEIVING A SUBSTANTIAL GRANT FROM AETNA BETTER HEALTH OF VIRGINIA. IT IS LOCATED IN THE MOUNTAIN VIEW NEIGHBORHOOD OF OLD SOUTHWEST ROANOKE AND IS OUR FIRST RESIDENTIAL TREATMENT PROJECT. WE SIMULTANEOUSLY BEGAN APPLYING FOR GRANTS TO COVER THE CONSTRUCTION COSTS TO REHAB IT (AND RECEIVED FUNDING FROM THE VIRGINIA OPIOID ABATEMENT AUTHORITY TO COVER MOST OF THE COSTS, IN ADDITION TO OTHER FOUNDATION AND GRANT SUPPORT). WORK COMMENCED IN JULY AND WAS ONGOING THROUGH SPRING OF 2025. WE ALSO PURCHASED OUR NINTH AND TENTH PROPERTIES THE SAME YEAR. WE USED TAP'S LAND BANK FUNDING TO PURCHASE 305 MOUNTAIN AVENUE (TRINITY COMMONS) IN MARCH OF 2024, WHICH WILL BE FIFTEEN UNITS OF ELDERLY AFFORDABLE HOUSING ONCE COMPLETE IN SPRING OF 2026. AND WE USED THE LAND BANK AGAIN TO PURCHASE 319 DALE AVENUE, WHICH CLOSED IN NOVEMBER OF 2024 AND WILL BE TWO UNITS OF PERMANENT SUPPORTIVE HOUSING ONCE COMPLETE IN MID 2026. 930 STEWART AVENUE, OUR SEVENTH REHAB PROJECT, FINISHED CONSTRUCTION IN JUNE OF 2024 AND WAS PROMPTLY LEASED TO A FAMILY MAKING 50% OF THE AREA MEDIAN INCOME. WE ACCOMPLISHED OUR TWO MAIN EVENTS FOR THE YEAR- OUR ANNUAL FUNDRAISER, WHICH WAS AN IN-PERSON LUNCHEON IN SEPTEMBER AND OUR ANNUAL COMMUNITY PARTNERSHIP DAY, WHICH WE HELD AT OUR MOST RECENT REHAB PROJECT- 930 STEWART. THIS YEAR, WE ALSO CELEBRATED OUR TENTH ANNIVERSARY AS AN ORGANIZATION SO WE HOSTED A CELEBRATORY PARTY AT THE FUTURE CONSTRUCTION SITE OF TRINITY COMMONS IN JULY. THROUGHOUT THE YEAR, WE ALSO ACCOMPLISHED OUR ON-GOING WORK TO BE GOOD STEWARDS OF OUR PROPERTIES AND TO BE RELIABLE LANDLORDS TO OUR AFFORDABLE HOUSING UNITS. WE SPENT A LOT OF THE THIRD AND FOURTH QUARTER OF THE YEAR PREPARING FOR OUR UPCOMING PROJECTS, WHICH INCLUDE THE REHAB 319 DALE AVENUE, AND APPLYING FOR CONSTRUCTION GRANTS AND PREPARING FOR TAX CREDITS. 106027 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 4 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 1 1 1 0 1 1 X ISABEL THORNTON 9178879840 1116 MAIN STREET STE B ROANOKE VA 24015 CAROL TUNING PRESIDENT 1.00 X X 0 0 0 JOHN CORNTHWAIT VICE PRESIDENT 1.00 X X 0 0 0 RICHARD HEDLEY TREASURER 1.00 X X 0 0 0 MOLLY ROBERTS SECRETARY 1.00 X X 0 0 0 JONATHAN RICHARDSON BOARD MEMBER 1.00 X 0 0 0 CYNTHIA LAWRENCE BOARD MEMBER 1.00 X 0 0 0 ALISON JORGENSEN BOARD MEMBER 1.00 X 0 0 0 ERIN ASHWELL BOARD MEMBER 1.00 X 0 0 0 KELLY JONES BOARD MEMBER 1.00 X 0 0 0 ISABEL THORNTON EXECUTIVE DIRECTOR 40.00 X 62230 0 0 62230 0 0 0 0 0 0 0 99671 921938 27237 1021609 REAL ESTATE MANAGEMENT 900099 170142 170142 170142 245 245 45165 0 45165 45165 45165 3992 99671 59050 -55058 -55058 PARTNERSHIP INCOME 900099 -850 -850 -850 1181253 215307 0 -55663 62030 31015 12406 18609 78522 39261 15705 23556 10753 4516 2581 3656 12000 12000 215 215 17714 17714 480 480 6057 6057 6219 2073 2073 2073 2244 2244 18844 6281 6281 6282 718 718 250 250 12159 12159 20715 20715 12365 9274 3091 OTHER EXPENSES 6404 6404 BANK FEES 978 978 268667 106027 108464 54176 240398 289462 130116 160267 1099188 1425250 900 0 1273806 23039 435666 1250767 15113 484503 528217 26701 16711 2417472 3685787 9661 100710 60000 266180 46330 105258 115991 472148 X 2301481 3213639 2301481 3213639 2417472 3685787 912586 -428 0 X X 0 1 X 1 0 X 381445 416275 333838 568089 1021609 2721256 49570 21550 42514 36600 170142 320376 431015 437825 376352 604689 1191751 3041632 0 0 0 3041632 14 4 54 177 45410 45659 14 4 54 177 45410 45659 431029 437829 376406 604866 1237161 3087291 0.98520 0.99980 0.01480 0.00020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2779 2779 1250159 18763 1231396 8875 1924 6951 11993 2352 9641 1250767 INVESTMENT IN DALE AVE PSH, LLC 95298 F INVESTMENT IN VILLA HEIGHTS REC CENTER LLC 307441 F INVESTMENT IN VILLA HEIGHTS SCP -1142 F INVESTMENT IN 820 DALE AVE LLC 39029 F INVESTMENT IN 920 STEWART AVE LLC 79417 F INVESTMENT IN 920 STEWART SCP -837 F INVESTMENT IN 930 STEWART AVENUE 9011 F 528217 OPERATING LEASE LIABILITY 16717 DEVELOPER FEE PAYABLE 88541 105258 PRESERVE LUNCHEON 81374 77382 3992 6537 19965 ANNIVERSARY RECEPTION 10797 10797 3141 999 2 11492 11492 28408 103663 99671 3992 9678 49372 59050 -55058 X FURNISHINGS 1 11645 X SUPPLIES FOR FUNDRAISERS 20 10112 X VIDEO WORK 1 5480 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 ISABEL THORNTON, EXECUTIVE DIRECTOR & SECRETARY, IS THE SPOUSE OF LUCAS THORNTON WHO HAS AN OWNERSHIP PERCENTAGE IN SEVERAL PROPERTIES. LUCAS THORNTON IS THE 98% OWNER OF THREE PROPERTIES THAT THE ORGANIZATION DEVELOPED AND NOW OVERSEES (DALE AVENUE PSH - 326 DALE AVENUE, 820 DALE AVENUE AND 920 STEWART AVENUE). FORM 990, PART VI, SECTION B, LINE 11B AT THE END OF THE FISCAL YEAR, AN OUTSIDE CPA WILL PREPARE THE ANNUAL RETURN FOR ORGANIZATION EXEMPT FROM INCOME TAX (IRS FORM 990). THE RETURN WILL BE PRESENTED TO THE EXECUTIVE DIRECTOR, THE BOARD FINANCE COMMITTEE, AND THE BOARD CHAIR FOR THEIR REVIEW AND APPROVAL. THE FINANCE COORDINATOR WILL THEN FILE THE RETURN WITH THE INTERNAL REVENUE SERVICE BY THE ANNUAL DEADLINE. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS REVIEWS THE EXECUTIVE DIRECTOR'S PERFORMANCE ANNUALLY AND ESTABLISHES THE SALARY. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 1729 PATTERSON AVENUE LLC 1116 MAIN STREET STE B ROANOKE VA 24015 LOW INCOME HOUSING VA TRINITY COMMONS LLC 1116 MAIN STREET STE B ROANOKE VA 24015 LOW INCOME HOUSING VA 530 DAY LLC 1116 MAIN STREET STE B ROANOKE VA 24015 LOW INCOME HOUSING VA 1018 PATTERSON LLC 1116 MAIN STREET STE B ROANOKE VA 24015 LOW INCOME HOUSING VA VILLA HEIGHTS REC CENTER LLC 1116 MAIN STREET STE B ROANOKE VA 24015 LOW INCOME HOUSING VA 820 DALE AVENUE LLC 1116 MAIN STREET STE B ROANOKE VA 24015 844336836 LOW INCOME HOUSING VA N/A RENTAL -112 3478 0 1 0.01000 920 STEWART AVENUE LLC 1116 MAIN STREET STE B ROANOKE VA 24015 853475238 LOW INCOME HOUSING VA N/A RENTAL -145 6553 0 1 0.01000 930 STEWART AVENUE LLC 1116 MAIN STREET STE B ROANOKE VA 24015 883384593 LOW INCOME HOUSING VA N/A RENTAL -108 3832 0 1 0.01000 DALE AVENUE PSH LLC 1116 MAIN STREET STE B ROANOKE VA 24015 833069662 LOW INCOME HOUSING VA N/A RENTAL -235 9835 0 1 0.02000 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 VILLA HEIGHTS REC CENTER LLC D 280350 CASH DALE AVENUE PSH D 336000 CASH DALE AVENUE PSH D 275080 CASH 920 STEWART AVENUE LLC D 262758 CASH 930 STEWART AVENUE LLC D 271062 CASH