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Nonprofit · EIN 54-1914519

VIRGINIA COMMUNITY DEVELOPMENT FUND INC

Tax-exempt · RICHMOND, VA 23219

Financials

$5.6M$1.1M2023$2.4M$1.5M2024
Revenue Expenses · by fiscal year end
Financials of VIRGINIA COMMUNITY DEVELOPMENT FUND INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$2,374,234$1,472,214$902,020$15,822,893$2,329,763$13,493,130
December 31, 2023990$5,575,731$1,106,627$4,469,104$13,782,493$1,191,372$12,591,121
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$1,131,675
Program service revenue
$826,957
Investment income
$415,602
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$261,367
Salaries, compensation and benefits (total)
$261,367
Professional fundraising fees
$0
Depreciation
$185,948
Program services (functional)
$1,319,095
Management and general (functional)
$153,119

Balance sheet and other

Total assets, start of year
$13,782,493
Total assets, end of year
$15,822,893
Total liabilities, end of year
$2,329,763
Net assets, end of year
$13,493,130
Net assets without donor restrictions
$3,313,184
Net assets with donor restrictions
$10,179,946
Gross receipts
$2,374,234
Employees
0
Volunteers
0
Year formed
1996
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.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
Robert NewmanTreasurer
Officer
2$0$221,913$41,179
Laura DupuySecretary
Officer
38$0$115,000$19,224
John PSalopPresident
Trustee or director, Officer
1$0$0$0
Neil AminBoard Member
Trustee or director
1$0$0$0
Karen WildsVice President
Trustee or director, Officer
1$0$0$0
Andy KegleyBoard Member
Trustee or director
1$0$0$0
Philip StetsonBoard Member
Trustee or director
1$0$0$0
Karen JacobsonBoard Member
Trustee or director
1$0$0$0
Philip BrooksBoard Member
Trustee or director
1$0$0$0
Junior BurrBoard Member
Trustee or director
1$0$0$0
990 for the year ended December 31, 2023: 9 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
Robert NewmanTreasurer
Officer
2$0$232,781$52,191
Laura DupuySecretary
Officer
38$0$109,000$20,854
John PSalopPresident
Trustee or director, Officer
1$0$0$0
Neil AminBoard Member
Trustee or director
1$0$0$0
Karen WildsVice President
Trustee or director, Officer
1$0$0$0
Andy KegleyBoard Member
Trustee or director
1$0$0$0
Philip StetsonBoard Member
Trustee or director
1$0$0$0
Karen JacobsonBoard Member
Trustee or director
1$0$0$0
Philip BrooksBoard Member
Trustee or director
1$0$0$0

Address and contacts

Address (IRS master file)
115 SOUTH 15TH STREET, RICHMOND, VA 23219-4252
In care of
% JEFFREY MICHAEL MEYER
Principal officer (990 for 2024)
Chris Sterling, 115 South 15th Street, Richmond, VA 23219
Signed the 990
Russ Parrish, CFO
Phone
(804) 343-1200
Return prepared by
DOOLEY & VICARS CERTIFIED PUBLIC

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.

990 for the year ended December 31, 2024

Program accomplishments

  • 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.
    Expenses $1,319,095 · revenue $826,957

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
54-1914519
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Supporting organization (509(a)(3))
Donations deductible (Pub 78)
Supporting organization of unknown type
Exempt since
2000
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$15,822,893
Income (IRS master file)
$2,374,234

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$2,374,234$1,472,214$15,822,893IRS
990December 2023$5,575,731$1,106,627$13,782,493XML
990December 2022$1,320,186$914,303$9,002,328IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––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 54-1914519).

Questions about VIRGINIA COMMUNITY DEVELOPMENT FUND INC

What is the EIN of VIRGINIA COMMUNITY DEVELOPMENT FUND INC?
The employer identification number (EIN) of VIRGINIA COMMUNITY DEVELOPMENT FUND INC is 54-1914519.
Is VIRGINIA COMMUNITY DEVELOPMENT FUND INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2000.
Are donations to VIRGINIA COMMUNITY DEVELOPMENT FUND INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
Which annual return does VIRGINIA COMMUNITY DEVELOPMENT FUND INC 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 FUND INC 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 FUND INC 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 FUND INC?
The 990 for the year ended December 31, 2024 names Chris Sterling.
Who are the officers and directors of VIRGINIA COMMUNITY DEVELOPMENT FUND INC?
The 990 for the year ended December 31, 2024 lists 10 people; 0 received compensation from the organization.
How much revenue does VIRGINIA COMMUNITY DEVELOPMENT FUND INC have?
On its 990 for the year ended December 31, 2024 it reported revenue of $2,374,234, expenses of $1,472,214 and total assets of $15,822,893 at year end.

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