To develop affordable Housing communities in the richmond, virginia metropolitan area.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$941K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $4.2M a year · 40% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$941K
to officers and key staff · 26% of spending
Worth a look: pay to officers and key staff is 26% of spending; over 20%.
Pt VII · Sec A
23 mo
of spending, in cash
Looks good: 22.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
24
named funders · $3.9M
Looks good: 24 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$7.8M
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.4M
-16% vs prior year
Spent
$3.7M
To programs
78%
Net assets
$27.9M
By yearFY2020–FY2025
Revenue
$7.4M
FY2022▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.0M
FY2021$8.8M
FY2022$7.4M
FY2023$7.4M
FY2024$12.0M
FY2025$20.1M
Expenses
$3.7M
FY2022▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.2M
FY2021$3.9M
FY2022$3.7M
FY2023$5.2M
FY2024$9.0M
FY2025$12.7M
Net assets
$27.9M
FY2022▲ +19%
Tap a bar for its year
Net assets by fiscal year
FY2020$18.6M
FY2021$23.5M
FY2022$27.9M
FY2023$31.1M
FY2024$34.2M
FY2025$42.7M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1988.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $2.9M Management & general 17% · $632K Fundraising 4% · $158K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

20 people listed on the 990; $941K paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$311,491Pt VII · Sec A
Vice President & CFO
$187,481Pt VII · Sec A
VP of Property Management
$126,916Pt VII · Sec A
VP of Resource Develop.
$107,313Pt VII · Sec A
Director of Multi-Family Devel
$105,937Pt VII · Sec A
Vice President of Services
$101,447Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Greta Harris’s $374K as President & CEO is at the 88th percentile of top reported officer pay among 676 $10–100M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Greta Harris$374,232$355,493$339,050$311,491$272,356$260,490
Alana Gonzalez$236,233$217,382————
Julie Hovermale$231,560$211,748$199,285$187,481$167,740$157,060
Lee Alford$144,135$132,613$98,911$105,937——
Matt Scaparro—$132,547$137,539$126,916$121,816$120,374
Monique Johnson————$126,576$87,837
John Bolton—————$116,897
Kathie Fors$113,348—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops and renovates affordable housing communities and supports local housing organizations in the Richmond, Virginia metropolitan area.

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Provided by the organization

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1 program · $2.9M · in their own filed words · FY2022
01

Development AND/OR renovation for affordable housing and assistance of community housing organization.

$2.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 24 funders →
Grants paid · 8 grants · $9.4M · 2020–2025
Richmond Affordable HousingVA · FY2025$8,692,400
Richmond Affordable HousingVA · FY2022$237,133
Unitemized GrantFY2022$211,300
Unitemized GrantFY2022$24,485
Unitemized GrantFY2022$5,047
Richmond Affordable HousingVA · FY2021$68,891
Unitemized GrantFY2021$5,928
Richmond Affordable HousingVA · FY2020$128,885

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$7.4M
Ln 12
Gifts and grantsLn 1h$7.1M
Fees for servicesLn 2g$228K
Other incomeLn 4–11$49K
Money outPt IX
$3.7M
Ln 25
Programscol B$2.9M
Managementcol C$632K
Fundraisingcol D$158K
Owns and owesPt X
$27.9M
net assets · Ln 32
Cash and savingsLn 1–2$7.0M
Total assetsLn 16$35.7M
LiabilitiesLn 26$7.8M
PeoplePt VI, VII
20
listed · VII A
PaidVII A6
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.1M
Government grantsLn 1e$1.8M
Noncash giftsLn 1g$25K
Fundraising eventsLn 1c$119K
Fees for servicesLn 2g$228K
Investment incomeLn 3$7K
Other incomeLn 4–11$49K
Gains on assetsLn 7$0
Total revenueLn 12$7.4M
Assets in detailPt X, end of year
CashLn 1$6.0M
SavingsLn 2$984K
Cash and savings togetherLn 1–2$7.0M
InvestmentsLn 11–13$970K
Land, buildings, equipmentLn 10c$1.5M
Other assetsLn 15$26.0M
Total assetsLn 16$35.7M
LiabilitiesLn 26$7.8M
Net assetsLn 32$27.9M
OperationsPt I, VI
EmployeesI 5101
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$25K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$5.9M$7.0M
InvestmentsLn 11–13$943K$970K
Land, buildings, equipmentLn 10c$731K$1.5M
Total assetsLn 16$28.8M$35.7M
LiabilitiesLn 26$5.3M$7.8M
Net assetsLn 32$23.5M$27.9M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$242K$242K
Grants to domestic individualsLn 2$241K$241K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$1.2M$928K$247K$62K
Pay of disqualified personsLn 6$499K$374K$100K$25K
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$86K$65K$17K$4K
Other employee benefitsLn 9$380K$285K$76K$19K
Payroll taxesLn 10$115K$86K$23K$6K
Management feesLn 11a$0
Legal feesLn 11b$6K$4K$1K$293
Accounting feesLn 11c$23K$17K$5K$1K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$427K$320K$85K$21K
Advertising and promotionLn 12$39K$29K$8K$2K
Office expensesLn 13$35K$26K$7K$2K
Information technologyLn 14$19K$14K$4K$945
RoyaltiesLn 15$0
OccupancyLn 16$196K$147K$39K$10K
TravelLn 17$8K$6K$2K$385
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$18K$13K$4K$894
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$28K$21K$6K$1K
InsuranceLn 23$26K$20K$5K$1K
Other expenses (24a–d)Ln 24$38K$33K$4K$946
Total functional expensesLn 25$3.7M$2.9M$632K$158K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $20.1M$12.7M$7.4M$42.7M 990 PDF
FY2024Filed with the IRS May 20, 2025 $12.0M$9.0M$2.9M$34.2M 990 PDF
FY2023Filed with the IRS May 28, 2024 $7.4M$5.2M$2.2M$31.1M 990 PDF
FY2022 ViewingFiled with the IRS May 24, 2023 $7.4M$3.7M$3.7M$27.9M 990 PDF
FY2021Filed with the IRS May 18, 2022 $8.8M$3.9M$4.9M$23.5M 990 PDF
FY2020Filed with the IRS May 25, 2021 $7.0M$3.2M$3.8M$18.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $7,381,131 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,208,447$7,097,058
I-9 Program service revenuePrior year $232,911$228,000
I-10 Investment incomePrior year $43,271$7,218
I-11 Other revenuePrior year $266,269$48,855
I-12 Total revenuePrior year $8,750,898$7,381,131
I-13 Grants and similar amounts paidPrior year $805,619$482,721
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,325,440$2,317,231
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $756,726$861,664
I-18 Total expensesPrior year $3,887,785$3,661,616
I-19 Revenue less expensesPrior year $4,863,113$3,719,515
Part VI · Governance 14 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $7,381,131 across 14 lines filed
VIII-1c Fundraising events$118,889
VIII-1d Related organizations$862,311
VIII-1e Government grants$1,827,393
VIII-1f All other contributions, gifts and grants$4,288,465
VIII-1g Noncash contributions (included above)$25,332
VIII-1h Total contributions, gifts and grants$7,097,058
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $228,000$228,000
VIII-3 Investment incomeExcluded from tax $7,218$7,218
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising eventsExcluded from tax −$16,894−$16,894
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $65,749$65,749
VIII-12 Total revenueRelated to mission $293,749 · Excluded from tax −$9,676$7,381,131
Part IX · Statement of functional expenses $3,661,616 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $241,889$241,889
IX-2 Grants to domestic individualsPrograms $240,832$240,832
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $928,095 · Management $247,492 · Fundraising $61,874$1,237,461
IX-6 Pay of disqualified personsPrograms $374,087 · Management $99,757 · Fundraising $24,939$498,783
IX-7 Other salaries and wages$0
IX-8 Pension plan contributionsPrograms $64,719 · Management $17,258 · Fundraising $4,315$86,292
IX-9 Other employee benefitsPrograms $284,639 · Management $75,904 · Fundraising $18,975$379,518
IX-10 Payroll taxesPrograms $86,382 · Management $23,035 · Fundraising $5,760$115,177
IX-11a Management fees$0
IX-11b Legal feesPrograms $4,403 · Management $1,174 · Fundraising $293$5,870
IX-11c Accounting feesPrograms $17,033 · Management $4,542 · Fundraising $1,135$22,710
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $320,128 · Management $85,367 · Fundraising $21,341$426,836
IX-12 Advertising and promotionPrograms $29,169 · Management $7,778 · Fundraising $1,944$38,891
IX-13 Office expensesPrograms $25,999 · Management $6,933 · Fundraising $1,733$34,665
IX-14 Information technologyPrograms $14,182 · Management $3,782 · Fundraising $945$18,909
IX-15 Royalties$0
IX-16 OccupancyPrograms $147,311 · Management $39,283 · Fundraising $9,821$196,415
IX-17 TravelPrograms $5,783 · Management $1,542 · Fundraising $385$7,710
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $13,400 · Management $3,573 · Fundraising $894$17,867
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $20,770 · Management $5,539 · Fundraising $1,384$27,693
IX-23 InsurancePrograms $19,513 · Management $5,204 · Fundraising $1,301$26,018
IX-24 Other expenses (24a–d)Programs $33,352 · Management $3,782 · Fundraising $946$38,080
IX-25 Total functional expensesPrograms $2,871,686 · Management $631,945 · Fundraising $157,985$3,661,616
Part X · Balance sheet $35,711,491 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $4,957,212$5,975,189
X-2 Savings and temporary cash investmentsStart of year $981,333$984,059
X-3 Pledges and grants receivableStart of year $59,123$25,000
X-4 Accounts receivableStart of year $147,739$225,358
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $19,135$48,379
X-10c Land, buildings and equipment, netStart of year $730,980$1,467,323
X-11 Publicly traded securitiesStart of year $206,227$234,275
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $737,157$735,694
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $20,962,906$26,016,214
X-16 Total assetsStart of year $28,801,812$35,711,491
X-17 Accounts payable and accrued expensesStart of year $38,275$98,370
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $73,278$62,280
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $5,226,334$7,453,333
X-25 Other liabilitiesStart of year $0$188,368
X-26 Total liabilitiesStart of year $5,337,887$7,802,351
X-27 Net assets without donor restrictionsStart of year $19,213,571$25,270,642
X-28 Net assets with donor restrictionsStart of year $4,250,354$2,638,498
X-32 Total net assets or fund balancesStart of year $23,463,925$27,909,140
X-33 Total liabilities and net assetsStart of year $28,801,812$35,711,491
Part XI · Reconciliation of net assets $27,909,140 net assets at year end
XI-1 Total revenue$7,381,131
XI-2 Total expenses$3,661,616
XI-3 Revenue less expenses$3,719,515
XI-4 Net assets at start of year$23,463,925
XI-6 Donated services and use of facilities$725,700
XI-10 Net assets at end of year$27,909,140

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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