Nonprofit · EIN 54-1549785
HAMPTON ROADS DEVELOPMENT CORPORATION
Tax-exempt · CHESAPEAKE, VA 23322
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $189,965 | $291,784 | -$101,819 | $1,459,581 | $445,729 | $1,013,852 |
| December 31, 2023 | 990 | $134,261 | $264,649 | -$130,388 | $1,664,703 | $446,347 | $1,218,356 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $68,069
- Investment income
- $99,312
- Net rental income
- $10,020
- Net gain from sales of assets
- $60,884
- Other revenue
- $22,584
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $108,000
- Salaries, compensation and benefits (total)
- $116,262
- Professional fundraising fees
- $0
- Accounting fees
- $1,650
- Travel
- $875
- Depreciation
- $39,868
- Program services (functional)
- $196,734
- Management and general (functional)
- $95,050
Balance sheet and other
- Total assets, start of year
- $1,664,703
- Total assets, end of year
- $1,459,581
- Total liabilities, end of year
- $445,729
- Net assets, end of year
- $1,013,852
- Land, buildings and equipment
- $817,441
- Publicly traded securities
- $624,849
- Net assets without donor restrictions
- $1,013,852
- Gross receipts
- $369,952
- Employees
- 1
- Volunteers
- 0
- Year formed
- 1988
- 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 |
|---|---|---|---|
| H Scott Hardison | Managing Director Trustee or director, Key employee | 40 | $108,000 |
| Matthew Hardison | President Trustee or director | 2 | $0 |
| Scott Graves | Sec/Treas. Trustee or director | 2 | $0 |
| James Resolute | Vice President Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| H Scott Hardison | Managing Director Trustee or director, Key employee | 40 | $108,004 |
| Matthew Hardison | President Trustee or director | 2 | $0 |
| Scott Graves | Sec/Treas. Trustee or director | 2 | $0 |
| James Resolute | Vice President Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1304 LAUREL RIDGE LN, CHESAPEAKE, VA 23322-9558
- Principal officer (990 for 2024)
- Matthew Hardison, 1304 Laurel Ridge Lane, Chesapeake, VA 23322
- Signed the 990
- H Scott Hardison, Managing Director
- Phone
- (757) 549-2000
- Return prepared by
- Yeager & Company CPAs PLLC
Mission
To provide affordable low income housing to residents of the Hampton Roads area.
Program accomplishments
- Provide affordable low income housingExpenses $196,734 · revenue $68,069
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
- 54-1549785
- 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
- 1990
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,459,581
- Income (IRS master file)
- $369,952
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $189,965 | $291,784 | $1,459,581 | IRS |
| 990 | December 2023 | $134,261 | $264,649 | $1,664,703 | XML |
| 990 | December 2022 | $110,120 | $314,279 | $1,688,970 | 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 54-1549785).
Questions about HAMPTON ROADS DEVELOPMENT CORPORATION
- What is the EIN of HAMPTON ROADS DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of HAMPTON ROADS DEVELOPMENT CORPORATION is 54-1549785.
- Is HAMPTON ROADS DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1990.
- Are donations to HAMPTON ROADS DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does HAMPTON ROADS 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 HAMPTON ROADS DEVELOPMENT CORPORATION 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 HAMPTON ROADS DEVELOPMENT CORPORATION 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 HAMPTON ROADS DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 names Matthew Hardison.
- Who are the officers and directors of HAMPTON ROADS DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2024 lists 4 people; 1 received compensation from the organization, the highest $108,000 (H Scott Hardison, Managing Director).
- How much revenue does HAMPTON ROADS DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $189,965, expenses of $291,784 and total assets of $1,459,581 at year end.
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