Nonprofit · EIN 54-1378797
VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION
Tax-exempt · VIRGINIA BCH, VA 23454
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $8,022,320 | $9,018,222 | -$995,902 | $32,884,869 | $19,899,851 | $12,985,018 |
| June 30, 2024 | 990 | $7,136,805 | $8,268,321 | -$1,131,516 | $33,954,192 | $19,973,272 | $13,980,920 |
| June 30, 2023 | 990 | $7,936,723 | $7,809,624 | $127,099 | $35,715,518 | $20,471,664 | $15,243,854 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $2,434,586
- of which government grants
- $2,306,466
- Program service revenue
- $5,524,748
- Investment income
- $62,986
- Net gain from sales of assets
- -$32,683
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $323,820
- Other salaries and wages
- $1,816,404
- Salaries, compensation and benefits (total)
- $2,492,306
- Professional fundraising fees
- $0
- Legal fees
- $87,635
- Accounting fees
- $211,847
- Occupancy
- $144,587
- Travel
- $39,650
- Depreciation
- $1,214,879
- Program services (functional)
- $8,076,363
- Management and general (functional)
- $941,859
Balance sheet and other
- Total assets, start of year
- $33,954,192
- Total assets, end of year
- $32,884,869
- Total liabilities, end of year
- $19,899,851
- Net assets, end of year
- $12,985,018
- Land, buildings and equipment
- $23,884,600
- Publicly traded securities
- $172,106
- Net assets without donor restrictions
- $12,985,018
- Gross receipts
- $8,055,003
- Employees
- 58
- Volunteers
- 11
- Year formed
- 1985
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Jessica Guglielmo | CEO through December Officer | 40 | $165,891 | $10,627 |
| Andrew Friedman | CEO January-May Officer | 40 | $72,499 | $0 |
| Mary Leigh Brewer | CFO Officer | 40 | $60,500 | $0 |
| David Crain | President/Chair Trustee or director, Officer | 1 | $0 | $0 |
| Dr Audry Douglas-Cook | Vice President Trustee or director, Officer | 1 | $0 | $0 |
| Gary Sharpe | Secretary/Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Frank McKinney | Director Trustee or director | 1 | $0 | $0 |
| Christopher Brown | Director Trustee or director | 1 | $0 | $0 |
| Jeremy Johnson | Director Trustee or director | 1 | $0 | $0 |
| Rob Ewell | Director Trustee or director | 1 | $0 | $0 |
| Kay Ashby | Director Trustee or director | 1 | $0 | $0 |
| Matthew Hamaker | Director as of September Trustee or director | 1 | $0 | $0 |
| Douglas Wilbourne | Director as of June Trustee or director | 1 | $0 | $0 |
| Marshall Brice | Director until December Trustee or director | 1 | $0 | $0 |
| Tim McCarthy | Director until November Trustee or director | 1 | $0 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Courtney LaLonde | Director until December Trustee or director | 1 | $0 |
| Quincy White | President/CEO as of May Officer | 40 | $0 |
990 for the year ended June 30, 2024: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JESSICA GUGLIELMO | CHIEF EXECUTIVE OFFICER Officer | 40 | $148,140 | $17,393 |
| KRISTAL H DAVIS | EMPLOYEE Highest-paid employee | 40 | $122,294 | $52 |
| FRANK MCKINNEY | PRESIDENT/CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| CHRISTOPHER L BROWN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR AUDREY B DOUGLAS-COOKE | VICE PRESIDENT Trustee or director, Officer | 1 | $0 | $0 |
| J DAVID CRAIN JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT EWELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANDREW FRIEDMAN | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| MARSHALL BRICE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JEREMY C JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TIM MCCARTHY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KAY ASHBY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GARY SHARPE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KINTE SMITH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| COURTNEY LALONDE | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JESSICA GUGLIELMO | CHIEF EXECUTIVE OFFICER Officer | 40 | $145,898 |
| FRANK MCKINNEY | PRESIDENT/CHAIR Trustee or director, Officer | 1 | $0 |
| CHRISTOPHER L BROWN | DIRECTOR Trustee or director | 1 | $0 |
| DR AUDREY B DOUGLAS-COOKE | VICE PRESIDENT Trustee or director, Officer | 1 | $0 |
| J DAVID CRAIN JR | DIRECTOR Trustee or director | 1 | $0 |
| ROBERT EWELL | DIRECTOR Trustee or director | 1 | $0 |
| ANDREW FRIEDMAN | SECRETARY/TREASURER Trustee or director, Officer | 1 | $0 |
| MARSHALL BRICE | DIRECTOR Trustee or director | 1 | $0 |
| JEREMY C JOHNNSON | DIRECTOR Trustee or director | 1 | $0 |
| TIM MCCARTHY | PROJECT DEVELOPMENT COMMIT Trustee or director | 1 | $0 |
| BRANDON HUTCHINS | DIRECTOR Trustee or director | 1 | $0 |
| COURTNEY LALONDE | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 2400 POTTERS RD, VIRGINIA BCH, VA 23454-4322
- Principal officer (990 for 2024)
- Quincy White, 2400 Potters Rd, Virginia Beach, VA 23454
- Signed the 990
- Jessica Guglielmo, President/CEO
- Phone
- (757) 463-9516
- Website
- www.VBCDC.org
- Return prepared by
- Eide Bailly LLP
Mission
To assist the city of Virginia Beach by partnering with the public and private sectors to provide quality affordable housing opportunities to low and moderate income people.
Program accomplishments
- Permanent rental housing funds include income and expenses directly associated with the rental of affordable low-income housing under Noah, Home, Housing First, Biznet, Atlantis Manor, Cape Henry, Ocean Trace, Beach Park and Beach Park West Apartment Projects. In addition, Veterans First Housing Assistance, support services for veterans families (SSVF) grant activity, project development fee income and investment activity are recorded under permanent rental housing funds.Expenses $8,076,363 · revenue $5,524,748
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 54-1378797
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1987
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20Z)
- Assets (IRS master file)
- $32,884,869
- Income (IRS master file)
- $8,055,003
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $8,022,320 | $9,018,222 | $32,884,869 | IRS |
| 990 | June 2024 | $7,136,805 | $8,268,321 | $33,954,192 | XML |
| 990 | June 2023 | $7,936,723 | $7,809,624 | $35,715,518 | XML |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 54-1378797).
Questions about VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION
- What is the EIN of VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION is 54-1378797.
- Is VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1987.
- Are donations to VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 names Quincy White.
- Who are the officers and directors of VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION?
- The 990 for the year ended June 30, 2025 lists 17 people; 3 received compensation from the organization, the highest $165,891 (Jessica Guglielmo, CEO through December).
- How much revenue does VIRGINIA BEACH COMMUNITY DEVELOPMENT CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $8,022,320, expenses of $9,018,222 and total assets of $32,884,869 at year end.
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