Victory Housing Inc
- Assets
- $39.3m
- Revenue
- $5.4m
- Investments
- $3.8m
- Employees
- 238
- Location
- Rockville, MD
- Founding
- 10/1982
- Data as of
- 06/2021
- EIN
- 52-1261881
Organization Overview
Victory Housing Inc is located in Rockville, MD. The organization was established in 1982. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Victory Housing Inc employed 238 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Victory Housing Inc 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 06/2021, Victory Housing Inc generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 19.5% each year . All expenses for the organization totaled $3.4m during the year ending 06/2021. While expenses have increased by 9.8% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING AND RELATED SERVICES TO LOW/MODERATE-INCOME SENIORS AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSET MANAGEMENT OF AFFORDABLE HOUSING PROJECTS
AFFORDABLE HOUSING PROJECT DEVELOPMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leila A Finucane President | Officer | 34 | $336,028 |
John D Spencer Senior Vice President | Officer | 34 | $230,076 |
Jacqueline R Smedley Senior Vp, Assisted Living | 34 | $215,514 | |
Michelle M Limeres Vp, Accounting And Admin Services | Officer | 34 | $201,854 |
Jeffrey Blackwell Vp, Real Estate Developmen | Officer | 34 | $188,508 |
Daniel Lukomsky Asset Management Director | 40 | $173,529 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grimm & Parker Architects Architectural | 6/29/18 | $297,234 |
Soltesz Inc Engineering | 6/29/18 | $125,339 |
Wiencek Assoc Architects & Planners Architectural | 6/29/18 | $1,182,815 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $628,414 |
| Government grants | $23,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $162,285 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $814,199 |
| Total Program Service Revenue | $3,625,647 |
| Investment income | $323,007 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $486,414 |
| Net Gain/Loss on Asset Sales | $135,794 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,434,326 |
| 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. | $1,155,485 |
| Compensation of current officers, directors, key employees. | $200,661 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $842,333 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $185,116 |
| Payroll taxes | $107,763 |
| Fees for services: Management | $131,918 |
| Fees for services: Legal | $23,344 |
| Fees for services: Accounting | $37,142 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,134 |
| Office expenses | $99,903 |
| Information technology | $103,184 |
| Royalties | $0 |
| Occupancy | $171,606 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,468 |
| Interest | $111,141 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $110,680 |
| Insurance | $26,601 |
| All other expenses | $83,814 |
| Total functional expenses | $3,429,493 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $10,283,762 |
| Pledges and grants receivable | $96,885 |
| Accounts receivable, net | $103,881 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,039,462 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $17,486 |
| Net Land, buildings, and equipment | $3,553,262 |
| Investments—publicly traded securities | $7,505,370 |
| Investments—other securities | $3,795,947 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,937,489 |
| Total assets | $39,333,544 |
| Accounts payable and accrued expenses | $247,944 |
| Grants payable | $0 |
| Deferred revenue | $11,865 |
| 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 | $9,914,294 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $154,580 |
| Total liabilities | $10,328,683 |
| Net assets without donor restrictions | $28,711,073 |
| Net assets with donor restrictions | $293,788 |
| 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 | $39,333,544 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Victory Housing Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Moravian Village Of Bethlehem Bethlehem, PA | $74,343,954 | $19,911,429 |
The Glebe Inc Glen Allen, VA | $79,347,451 | $20,057,701 |
The Washington Center For Internships And Academic Seminars Washington, DC | $44,342,830 | $20,060,220 |
Homewood At Williamsport Md Inc Williamsport, MD | $33,819,654 | $18,842,651 |
Sarah A Reed Home Erie, PA | $16,706,184 | $19,190,049 |
Williamsport Home Williamsport, PA | $21,816,206 | $17,908,824 |
Alliance Foundation Of Florida Inc Fairfax, VA | $3,980,019 | $2,209,632 |
Holy Family Senior Living Bethlehem, PA | $8,945,725 | $16,667,938 |
G D L Farms Corporation Warrington, PA | $47,389,646 | $9,746,862 |
Lecom At Presque Isle Inc Erie, PA | $21,458,135 | $11,034,929 |
The Shook Home Chambersburg, PA | $25,432,316 | $13,913,472 |
Lifespire Of Virginia Glen Allen, VA | $66,161,909 | $8,820,978 |