2023-10-27T08:36:15-05:00 2022-12-31 BDO USA 300 E Main Street Suite 1300 Norfolk VA 23510 990 2022-01-01 541860225 RICHMOND AFFORDABLE HOUSING INC % THE ORGANIZATION RICH 8046440546 PO BOX 12117 RICHMOND VA 23241 JULIE HOVERMALE VICE PRESIDENT/CFO 8046440546 2023-10-25 true JULIE HOVERMALE 999009999 Marc Berger P01871563 7576407190 2023-10-05 2 2022 2023-04-26 12:10:37Z JULIE HOVERMALE PO BOX 12117 RICHMOND VA 23241 4410301 false X N/A X 1997 VA TO PROVIDE AFFORDABLE HOUSING 5 5 0 5 0 0 149653 93725 883326 622558 178544 18468 47604 49999 1259127 784750 4200 238000 0 0 475099 570732 0 0 0 643878 398153 1123177 1206885 135950 -422135 16660809 17217718 10963815 11942859 5696994 5274859 TO PROVIDE AFFORDABLE HOUSING false false 1206885 238000 622558 THE ORGANIZATION PROVIDED HOUSING TO LOW-INCOME HOMEOWNERS. 1206885 true true false false false false false false false false true false false true true true false true false false false false false false false false false true true true false false false false false false false false false false false false true true true false false false true 30 0 true 0 false false false false false false false false false false false false false false false X 5 5 false false false false false false false true true false false true true true true true true false false false X THE ORGANIZATION 8046440546 PO BOX 12117 RICHMOND VA 23241 X GRETA HARRIS PRESIDENT & CEO 0.0 40.0 X 0 311491 43558 JULIE HOVERMALE VICE PRESIDENT & CFO 0.0 40.0 X 0 187481 18188 MATT SCAPARRO VP OF PROPERTY MANAGEMENT 0.0 40.0 X 0 126916 20547 LEE ALFORD DIR. OF MULTI-FAMILY DEVELOP. 0.0 40.0 X 0 105937 20868 JOYCE JACKSON VICE PRESIDENT OF SERVICES 0.0 40.0 X 0 101447 21984 STACIE BIRCHETT VP OF RESOURCE DEVELOPMENT 0.0 40.0 X 0 107313 7198 ATMA IYER CHAIR & DIRECTOR 0.0 0.0 X X 0 0 0 CAROLYN REWANE SECRETARY-TREASURER 0.0 0.0 X X 0 0 0 TREVOR BUCKLEY DIRECTOR 0.0 0.0 X 0 0 0 FREDA GREEN BOLLING DIRECTOR 0.0 0.0 X 0 0 0 W MARTIN WILLIAMS DIRECTOR 0.0 0.0 X 0 0 0 0 940585 132343 0 false true false EAGLE CONSTRUCTION OF VA LLC 10618 PATTERSON AVENUE HENRICO VA 23238 GENERAL CONTRACTOR 519648 TIMMONS GROUP INC 1001 BOULDERS PKWY SUITE 300 RICHMOND VA 23225 ENGINEER 501396 RMT CONSTRUCTION DEVELOP GROUP 1040 OLD BON AIR ROAD RICHMOND VA 23235 GENERAL CONTRACTOR 184489 EDWARD HWINKS-JAMES DSNOWA ARCHIT 2119 EAST FRANKLIN STREET RICHMOND VA 23223 ARCHITECT 181471 BASKERVILL PO BOX 400 RICHMOND VA 23218 ARCHITECT 169753 5 93725 93725 DEVELOPMENT FEES 531110 363400 363400 RENTAL INCOME 531110 254693 254693 OTHER EARNED FEES 531110 4465 4465 622558 55534 55534 0 0 0 0 0 3588485 3625551 -37066 -37066 -37066 0 0 0 0 0 0 0 0 0 MISC TENANT INCOME 531110 38708 38708 LAND LEASE FROM RELATED PARTY 531110 10824 10824 OTHER REVENUE 531110 467 467 49999 784750 622558 68467 173000 173000 65000 65000 0 0 0 0 479641 479641 13350 13350 42772 42772 34969 34969 0 16757 16757 16450 16450 0 0 0 16890 16890 3199 3199 10172 10172 12026 12026 0 0 8797 8797 0 8601 8601 100308 100308 0 73219 73219 10638 10638 BUILDING MAINTENANCE 81190 81190 REAL ESTATE TAXES 31249 31249 UTILITIES 8657 8657 0 0 1206885 1206885 0 0 2683699 4585995 0 0 0 0 57304 103880 0 0 0 0 0 0 0 0 0 0 3391757 1241684 2425106 2150073 0 0 0 0 0 0 0 0 11494700 10377770 16660809 17217718 32301 37652 0 0 582180 715107 0 0 0 0 0 0 373006 297633 0 0 9976328 10892467 10963815 11942859 X 5696994 5274859 0 0 5696994 5274859 16660809 17217718 -422135 X X false true X true false X 561246 427551 535785 149653 93725 1767960 0 0 561246 427551 535785 149653 93725 1767960 0 1767960 39092 62719 64246 57007 55534 278598 0 178116 45733 45363 47604 49999 366815 2413373 3551732 0.73257 0.77743 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 971777 971777 2412450 1234154 1178296 7530 7530 0 2150073 LAND & BLDNGS UNDER DEVELOP. 5454089 NOTES PAYABLE RELATED PARTIES 4786753 ACCTS RECEIVE RELATED PARTIES 127731 ESCROWS AND RESERVES 9197 10377770 0 NOTES PAYABLE RELATED PARTIES 9769185 ACCOUNTS PAYABLE RELATED PARTIES 1082367 SECURITY DEPOSITS - HOMEOWNERS 22915 WARRANTY LIABILITY 18000 10892467 X SCHEDULE D, PART X, LINE 2: RICHMOND AFFORDABLE HOUSING, INC. IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(c)(3) AND THE TAX STATUTES OF THE COMMONWEALTH OF VIRGINIA; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. true BETTER HOUSING COALITION 22 WEST BROAD STREET RICHMOND VA 23220 541479059 501 (c)(3) 98000 See Part IV ELDER HOMES CORPORATION DBA PROJECT HOMES 88 CARNATION STREET RICHMOND VA 23225 541595851 501 (c)(3) 75000 See Part IV 2 0 GRANT TO HOMEBUYERS 4 65000 SCHEDULE I, PART I, LINE 2: THE ORGANIZATION PROVIDES A MONITORING PACKAGE TO THE CITY OF RICHMOND ON EACH HOME THAT RECEIVES ASSISTANCE. THE COMPLIANCE FILES INCLUDE INCOME VERIFICATIONS, HOUSEHOLDSIZE VERIFICATIONS, PROJECT BUDGETS, LOAN APPROVALS PURCHASE CONTRACTS, SETTLEMENT STATEMENTS, DEEDS OF TRUST, HOMEBUYER SEMINAR CERTIFICATES AND PROJECT CLOSE OUT FORMS. THE FILES ARE AUDITED EACH YEAR BY THE CITY OF RICHMOND FOR PROGRAM COMPLIANCE. RICHMOND AFFORDABLE HOUSING ALSO AWARDED ASSISTANCE TO BETTER HOUSING COALITION WHICH IS A RELATED PARTY WHO HAS THE SAME MISSION TO PROVIDE AFFORDABLE HOUSING. SCHEDULE I, PART II, LINE 1, COLUMN H: BHC made a contribution for the development cost of the first 3-D house build in Richmond that went to an affordable buyer. false true false false false false false false false GRETA HARRIS PRESIDENT & CEO 0 288367 0 23124 0 0 0 34147 0 9411 0 355049 0 0 JULIE HOVERMALE VICE PRESIDENT & CFO 0 168705 0 18776 0 0 0 10584 0 7604 0 205669 0 0 SCHEDULE J, PART I, LINE 4B: THE PRESIDENT & CEO PARTICIPATE IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. DURING 2022 THERE WERE $12,358 IN CONTRIBUTIONS. SCHEDULE J, PART I, LINE 3: COMPENSATION IS ESTABLISHED FOR THE CEO/ EXECUTIVE DIRECTOR BY A RELATED ORGANIZATION, BETTER HOUSING COALITION. TO ESTABLISH COMPENSATION, BETTER HOUSING COALITION UTILIZES A COMPENSATION COMMITTEE AND GETS APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, PART I, LINE 5 & PART V, LINE 2A: TOTAL NUMBER OF EMPLOYEES: THE ORGANIZATION DOES NOT DIRECTLY COMPENSATE ANY EMPLOYEES. PAYROLL EXPENSE SHOWN ON THE STATEMENT OF FUNCTIONAL EXPENSES CONSISTS OF REIMBURSED SALARY, PAYROLL TAX AND HEALTH INSURANCE PAID TO BETTER HOUSING COALITION (EIN: 54- 1479059), A RELATED PARTY DISCLOSED ON SCHEDULE R. FORMS W-3 AND OTHER PAYROLL RELATED TAX INFORMATION FILINGS ARE ISSUED BY BETTER HOUSING COALITION. FORM 990, PART VI, SECTION B, LINE 11B: THE FORM 990 WILL BE PROVIDED TO THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C: ANNUALLY, INDIVIDUALS ARE REQUIRED TO MAINTAIN THAT THEY ARE ABIDING BY THE CONFLICT OF INTEREST POLICY WHICH IS MONITORED BY THE VP OF PLANNING. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT REVIEW PROCESS REGARDING THE AUDIT AND SELECTION OF ITS INDEPENDENT ACCOUNTANTS. WINCHESTER COMMONS I LLC PO BOX 12117 RICHMOND VA 232410117 201157186 AFF HOUSING VA RAH INC WINCHESTER COMMONS II LLC PO BOX 12117 RICHMOND VA 232410117 201157260 AFF HOUSING VA RAH INC BETTER HOUSING COALITION PO BOX 12117 RICHMOND VA 23241 541479059 SEE PART VII VA 501(c)(3) LINE 7 NA false AFFORDABLE RESIDENCES IN CHESTERFIELD PO BOX 12117 RICHMOND VA 23241 541864802 SEE PART VII VA 501(c)(3) LINE 10 BHC false AFFORDABLE RESIDENCES IN CHESTERFIELD II PO BOX 12117 RICHMOND VA 23241 541842960 SEE PART VII VA 501(c)(3) LINE 10 BHC false BHC MANAGEMENT COMPANY PO BOX 12117 RICHMOND VA 23241 541904250 SEE PART VII VA 501(c)(4) N/A BHC false RICHMOND URBAN SENIOR HOUSING INC PO BOX 12117 RICHMOND VA 23241 541983838 SEE PART VII VA 501(c)(3) LINE 10 BHC false 1617-1621 GROVE AVENUE LTD PO BOX RICHMOND VA 23241 SEE PART VII VA RAH INC false 0.99000 MARKET SQ ELDERLY HOUSING LP PO BOX RICHMOND VA 23241 541886910 SEE PART VII VA RAH INC false 0.99900 MRKT SQ ELDERLY HOUSING PH II PO BOX RICHMOND VA 23241 542060052 SEE PART VII VA NA false 0.99900 MRKT SQ ELDERLY HOUSING III PO BOX RICHMOND VA 23241 200765968 SEE PART VII VA NA false 0.99900 NINE MILE ROAD LLC PO BOX RICHMOND VA 23241 383674789 SEE PART VII VA NA false 0.99900 NINE MILE ROAD LLC II PO BOX RICHMOND VA 23241 SEE PART VII VA NA false 0.99900 300 RANDOLPH PLACE LLC PO BOX RICHMOND VA 23241 SEE PART VII VA NA false 0.99900 4101 NORTH AVENUE LLC PO BOX RICHMOND VA 23241 SEE PART VII VA NA false 4101 NORTH AVENUE II LLC PO BOX RICHMOND VA 23241 RENTAL REALES VA NA false CLAIBORNE SQUARE LLC PO BOX RICHMOND VA 23241 SEE PART VII VA NA false BECKSTOFFER LOFTS LLC PO BOX RICHMOND VA 23241 SEE PART VII VA NA false 0.99900 NORTH OAK LLC PO BOX RICHMOND VA 23241 800747272 SEE PART VII VA NA false 1208 NORTH 28TH ST LLC PO BOX RICHMOND VA 23241 SEE PART VII VA NA false RICHMOND SCATTERED SITES EAST PO BOX RICHMOND VA 23241 454733064 SEE PART VII VA NA false RICHMOND SCATTERED SITES WEST PO BOX RICHMOND VA 23241 454732978 SEE PART VII VA NA false 2230 VENABLE STREET LLC PO BOX RICHMOND VA 23241 SEE PART VII VA NA false MARKET SQUARE V LLC PO BOX RICHMOND VA 23241 832287158 SEE PART VII VA NA false MARKET SQ IV LLC PO BOX RICHMOND VA 23241 832189375 SEE PART VII VA NA false CAMEO STREET LLC PO BOX RICHMOND VA 23241 853162928 SEE PART VII VA NA false WINCHESTER FOREST I LLC PO BOX RICHMOND VA 23241 SEE PART VII VA NA false WINCHESTER FOREST II LLC PO BOX RICHMOND VA 23241 SEE PART VII VA NA false false true true false true false true false false true false true true true true true false false false WINCHESTER FOREST II LLC G 750000 AMOUNT PAID SCHEDULE R, PART II, COLUMN (B), LINES 1 - 5: PRIMARY ACTIVITY FOR ALL RELATED ORGANIZATIONS: PROVIDE AFFORDABLE HOUSING SCHEDULE R, PART III, COLUMN (B), LINES 1 - 22: PRIMARY ACTIVITY FOR ALL RELATED ORGANIZATIONS: LOW INCOME HOUSING TAX CREDIT RENTAL REAL ESTATE.