Rockbridge Area Housing Corporation
- Assets
- $387.3k
- Revenue
- $301.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Lexington, VA
- Founding
- 01/1972
- Data as of
- 04/2022
- EIN
- 23-7148225
Organization Overview
Rockbridge Area Housing Corporation is located in Lexington, VA. The organization was established in 1972. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 04/2022, Rockbridge Area Housing Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rockbridge Area Housing Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 04/2022, Rockbridge Area Housing Corporation generated $301.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $360.4k during the year ending 04/2022. While expenses have increased by 4.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW INCOME HOUSING AND MAINTAIN A SAFE, AFFORDABLE, AND FAMILY-ORIENTED ENVIRONMENT. THE ULTIMATE GOAL IS TO ALWAYS INSTILL PRIDE, RESPECT, AN A SENSE OF "HOME OWNERSHIP" IN THE HEARTS AND MINDS OF EACH FAMILY RESIDING AT MOUNTAINVIEW TERRACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCKBRIDGE AREA HOUSING CORPORATION OWNS AND OPERATES A 40 UNIT APARTMENT COMPLEX THAT PROVIDES SUBSIDIZED HOUSING UNDER SECTION 8 OF THE NHA.TO RESPOND TO THE HOUSING NEEDS OF THE LEXINGTON/ROCKBRIDGE COMMUNITY AND BE AN ASSET TO OUR NEIGHBORS.WE STRIVE TO MAINTAIN A SAFE, AFFORDABLE AND FAMILY ORIENTED ENVIRONMENT FOR THOSE WHO CHOOSE TO LIVE HERE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marylin Alexander Property Manage | Officer | 40 | $44,873 |
Mary Beth Harris Secretary-Treas | OfficerTrustee | 0.3 | $0 |
Allan Griffith Vice President | OfficerTrustee | 0.5 | $0 |
Wakeel Idewu President | OfficerTrustee | 1 | $0 |
Herman Dickerson Director | Trustee | 0.5 | $0 |
Lori Turner Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $294,331 |
| Investment income | $34 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $301,511 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $44,873 |
| Compensation of current officers, directors, key employees. | $22,436 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,018 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,541 |
| Payroll taxes | $8,524 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $63 |
| Fees for services: Accounting | $9,372 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $124 |
| Office expenses | $16,861 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $33,439 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,925 |
| Insurance | $25,142 |
| All other expenses | $18,913 |
| Total functional expenses | $360,394 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,426 |
| Savings and temporary cash investments | $119,268 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,302 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $155,361 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $4,292 |
| Other assets | $88,650 |
| Total assets | $387,299 |
| Accounts payable and accrued expenses | $2,335 |
| Grants payable | $0 |
| Deferred revenue | $3,946 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $585,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,521 |
| Total liabilities | $600,802 |
| Net assets without donor restrictions | -$215,268 |
| Net assets with donor restrictions | $1,765 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $387,299 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Partners Corporation Christiansburg, VA | $210,530,324 | $87,907,515 |
Enterprise Community Development Inc Columbia, MD | $150,433,261 | $43,987,858 |
Skill Creations Inc Goldsboro, NC | $13,834,048 | $44,435,808 |
Renewal Housing Inc North Bethesda, MD | $14,557,789 | $3,551,240 |
Habitat For Humanity International Inc Raleigh, NC | $48,704,094 | $32,190,331 |
Montage Living Charlotte, NC | $133,680,991 | $23,940,845 |
Washington Housing Conservancy Inc Washington, DC | $420,260,184 | $21,973,797 |
Ahc Inc Arlington, VA | $252,147,992 | $33,394,070 |
Habitat For Humanity International Inc Charlotte, NC | $71,967,554 | $27,686,341 |
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
Enterprise Community Loan Fund Inc Columbia, MD | $332,804,742 | $25,996,753 |