Nonprofit · EIN 54-1533426
VIRGINIA COMMUNITY DEVELOPMENT CORP
Tax-exempt · RICHMOND, VA 23220
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,520,531 | $2,798,582 | -$278,051 | $7,911,037 | $580,414 | $7,330,623 |
| December 31, 2023 | 990 | $2,904,468 | $2,717,950 | $186,518 | $7,756,782 | $148,108 | $7,608,674 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $108,845
- Program service revenue
- $2,325,393
- Investment income
- $86,293
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $1,596,919
- Salaries, compensation and benefits (total)
- $1,931,232
- Professional fundraising fees
- $0
- Occupancy
- $84,756
- Travel
- $48,286
- Depreciation
- $22,066
- Program services (functional)
- $2,013,003
- Management and general (functional)
- $785,579
Balance sheet and other
- Total assets, start of year
- $7,756,782
- Total assets, end of year
- $7,911,037
- Total liabilities, end of year
- $580,414
- Net assets, end of year
- $7,330,623
- Land, buildings and equipment
- $132,717
- Net assets without donor restrictions
- $7,250,283
- Net assets with donor restrictions
- $80,340
- Gross receipts
- $2,520,531
- Employees
- 26
- Volunteers
- 0
- Year formed
- 1990
- 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 December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Robert L Newman | President & CEO Officer | 30 | $221,913 | $41,179 |
| Chris Sterling | Vice President and COO Officer | 34 | $170,900 | $43,227 |
| Bernard Rogers | Director of Equity Funds & Investor Relations Highest-paid employee | 40 | $134,924 | $42,201 |
| Russ Parrish | Treasurer/Chief Financial Officer Officer | 32 | $142,164 | $31,564 |
| Steve Bleile | Director of Project Development Highest-paid employee | 40 | $131,714 | $27,839 |
| Jeff Meyer | Director of Project Development Highest-paid employee | 40 | $142,500 | $14,681 |
| Philip Brooks | Board Chair Trustee or director, Officer | 1 | $0 | $0 |
| Monica Jefferson | Board Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Karen R Wilds | Board Member Trustee or director | 1 | $0 | $0 |
| Robert J Adams | Board Member Trustee or director | 1 | $0 | $0 |
| Neil Amin | Board Member Trustee or director | 1 | $0 | $0 |
| Mike Chiappa | Board Member Trustee or director | 1 | $0 | $0 |
| Susan Dewey | Board Member Trustee or director | 1 | $0 | $0 |
| Karen Klick | Board Member Trustee or director | 1 | $0 | $0 |
| Tyrone E Sessoms | Board Member Trustee or director | 1 | $0 | $0 |
4 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Earlene Powell | Board Member Trustee or director | 1 | $0 |
| Manju Ganeriwala | Board Member Trustee or director | 1 | $0 |
| Jonathan Knopf | Board Member Trustee or director | 1 | $0 |
| Jason Long | Board Member Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 19 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Robert L Newman | President & CEO Officer | 30 | $232,781 | $52,191 |
| Chris Sterling | Vice President and COO Officer | 34 | $163,555 | $40,612 |
| Russ Parrish | Treasurer/Chief Financial Officer Officer | 32 | $139,170 | $45,537 |
| Bernard Rogers | Director of Equity Funds & Investor Relations Highest-paid employee | 40 | $131,356 | $39,491 |
| Steve Bleile | Director of Project Development Highest-paid employee | 40 | $130,811 | $27,140 |
| Jeff Meyer | Director of Project Development Highest-paid employee | 40 | $133,500 | $13,803 |
| Philip Brooks | Board Chair Trustee or director, Officer | 1 | $0 | $0 |
| Monica Jefferson | Board Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Karen R Wilds | Board Member Trustee or director | 1 | $0 | $0 |
| Robert J Adams | Board Member Trustee or director | 1 | $0 | $0 |
| Neil Amin | Board Member Trustee or director | 1 | $0 | $0 |
| Mike Chiappa | Board Member Trustee or director | 1 | $0 | $0 |
| Susan Dewey | Board Member Trustee or director | 1 | $0 | $0 |
| Karen Klick | Board Member Trustee or director | 1 | $0 | $0 |
| Tyrone E Sessoms | Board Member Trustee or director | 1 | $0 | $0 |
| Earlene Powell | Board Member Trustee or director | 1 | $0 | $0 |
| Manju Ganeriwala | Board Member Trustee or director | 1 | $0 | $0 |
| Jonathan Knopf | Board Member Trustee or director | 1 | $0 | $0 |
| Jason Long | Board Member Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1840 W BROAD ST STE 200, RICHMOND, VA 23220-2151
- Principal officer (990 for 2024)
- Chris Sterling, 115 S 15th St 501, Richmond, VA 23219
- Signed the 990
- Russ Parrish, CFO
- Phone
- (804) 343-1200
- Website
- www.vibrantcommunities.us
- Return prepared by
- DOOLEY & VICARS CERTIFIED PUBLIC
Mission
VCDC delivers vital financial resources and support while collaborating with local organizations dedicated to social impact, ensuring the creation of affordable homes in vibrant neighborhoods where everyone can thrive.
Program accomplishments
- VCDC serves communities by adding value through the development, funding and management of affordable housing and community revitalization projects. VCDC has worked with Low Income Housing Tax Credit projects since that programs inception and was the first manager of tax credit equity funds in Virginia. We connect developers, investors, and communities with the mission to build affordable housing and revitalize historic properties in order to create thriving neighborhoods that benefit all residents. We envision a future where everyone succeeds in communities anchored by affordable homes, healthy neighborhoods, and economic security.Expenses $2,013,003 · revenue $2,325,393
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 54-1533426
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1990
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L80Z)
- Assets (IRS master file)
- $7,911,037
- Income (IRS master file)
- $2,520,531
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,520,531 | $2,798,582 | $7,911,037 | IRS |
| 990 | December 2023 | $2,904,468 | $2,717,950 | $7,756,782 | XML |
| 990 | December 2022 | $2,908,414 | $2,424,200 | $7,623,657 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 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 54-1533426).
Questions about VIRGINIA COMMUNITY DEVELOPMENT CORP
- What is the EIN of VIRGINIA COMMUNITY DEVELOPMENT CORP?
- The employer identification number (EIN) of VIRGINIA COMMUNITY DEVELOPMENT CORP is 54-1533426.
- Is VIRGINIA COMMUNITY DEVELOPMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1990.
- Are donations to VIRGINIA COMMUNITY DEVELOPMENT CORP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does VIRGINIA COMMUNITY DEVELOPMENT CORP 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 COMMUNITY DEVELOPMENT CORP due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VIRGINIA COMMUNITY DEVELOPMENT CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of VIRGINIA COMMUNITY DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 names Chris Sterling.
- Who are the officers and directors of VIRGINIA COMMUNITY DEVELOPMENT CORP?
- The 990 for the year ended December 31, 2024 lists 19 people; 6 received compensation from the organization, the highest $221,913 (Robert L Newman, President & CEO).
- How much revenue does VIRGINIA COMMUNITY DEVELOPMENT CORP have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,520,531, expenses of $2,798,582 and total assets of $7,911,037 at year end.
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