Better Housing Coalition
- Assets
- $48.2m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 89
- Location
- Richmond, VA
- Founding
- 12/1988
- Data as of
- 12/2023
- EIN
- 54-1479059
Organization Overview
Better Housing Coalition is located in Richmond, VA. The organization was established in 1988. 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 12/2023, Better Housing Coalition employed 89 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Better Housing Coalition 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 12/2023, Better Housing Coalition generated $7.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 4.5% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AFFORDABLE HOUSING COMMUNITIES IN THE RICHMOND, VIRGINIA METROPOLITAN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT AND/OR RENOVATION FOR AFFORDABLE HOUSING AND ASSISTANCE OF COMMUNITY HOUSING ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greta Harris President & CEO | Officer | 40 | $339,050 |
Julie Hovermale Vice President & CFO | Officer | 40 | $199,285 |
Matt Scaparro VP Of Property Management | 40 | $137,539 | |
Lee Alford Director Of Multi-Family Devel | 40 | $98,911 | |
Stacie Birchett VP Of Resource Develop. | 40 | $112,144 | |
Todd Waldo Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bdo Usa Llp Audit & Tax Services | 12/30/23 | $150,968 |
Boothe Enterprises General Contractor | 12/30/23 | $349,658 |
Hd Supply Facilities Maintenance Ltd Building Supplies | 12/30/23 | $427,289 |
Johnson Debris Removal & Hauling Trash Hauling | 12/30/23 | $118,110 |
Senex Law Pc Legal Services | 12/30/23 | $116,170 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $488,375 |
| Government grants | $3,542,944 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,750,995 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,782,314 |
| Total Program Service Revenue | $160,688 |
| Investment income | $137,276 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$776,507 |
| Net Income from Fundraising Events | $119,597 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,436,643 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,974,182 |
| Grants and other assistance to domestic individuals. | $9,156 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,853,131 |
| Pension plan accruals and contributions | $80,774 |
| Other employee benefits | $181,692 |
| Payroll taxes | $122,015 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,260 |
| Fees for services: Accounting | $27,231 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $139,158 |
| Advertising and promotion | $134,324 |
| Office expenses | $51,092 |
| Information technology | $24,772 |
| Royalties | $0 |
| Occupancy | $195,481 |
| Travel | $19,206 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $32,124 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,444 |
| Insurance | $35,568 |
| All other expenses | $101,371 |
| Total functional expenses | $5,232,044 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,774,641 |
| Savings and temporary cash investments | $2,449,258 |
| Pledges and grants receivable | $15,750 |
| Accounts receivable, net | $323,738 |
| 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 | $66,940 |
| Net Land, buildings, and equipment | $715,607 |
| Investments—publicly traded securities | $248,705 |
| Investments—other securities | $0 |
| Investments—program-related | $3,636,919 |
| Intangible assets | $0 |
| Other assets | $35,014,141 |
| Total assets | $48,245,699 |
| Accounts payable and accrued expenses | $40,279 |
| Grants payable | $0 |
| Deferred revenue | $263,215 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $16,700,393 |
| Other liabilities | $152,234 |
| Total liabilities | $17,156,121 |
| Net assets without donor restrictions | $27,687,138 |
| Net assets with donor restrictions | $3,402,440 |
| 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 | $48,245,699 |
Grants Awarded
Over the last fiscal year, Better Housing Coalition has awarded $724,276 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
PINEAPPLE ACQUISTION LLC PURPOSE: SEE PART IV | $150,000 |
RICHMOND AFFORDABLE HOUSING PURPOSE: SEE PART IV | $544,859 |
4101 NORTH AVENUE LLC PURPOSE: SEE PART IV | $14,621 |
4101 NORTH AVENUE II LLC PURPOSE: SEE PART IV | $14,796 |