2024-11-13T10:28:09-06:00 2023-12-31 541631262 KEITER STEPHENS HURST GARY & SHREAVES 4401 DOMINION BLVD GLEN ALLEN VA 23060 990 2023-01-01 475629011 THE MAGGIE WALKER COMMUNITY LAND TRUST MAGG 8049156729 203 N ROBINSON STREET RICHMOND VA 23220 ERICA SIMS CHIEF EXECUTIVE OFFICER 8049156729 2024-11-12 1 1 JAYME MIKA P00852731 8047470000 2023 2024-10-15 13:58:12Z ERICA SIMS 203 N ROBINSON STREET RICHMOND VA 23220 5796103 0 X HTTPS//MAGGIEWALKERCLT.ORG X 2015 VA THE MWCLT SEEKS TO DEVELOP AND MAINTAIN PERMANENTLY AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES FOR LOW AND MODERATE INCOME HOUSEHOLDS. 15 15 6 15 0 0 5853900 4384759 -409409 85699 8554 1322297 1380 3348 5454425 5796103 0 0 0 0 0 556353 6300 0 76283 603821 2164516 610121 2720869 4844304 3075234 13928536 13102332 1038620 739116 12889916 12363216 THE MWCLT SEEKS TO DEVELOP AND MAINTAIN PERMANENTLY AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES FOR LOW AND MODERATE INCOME HOUSEHOLDS. 0 0 2356662 THE MWCLT ACTS AS A DEVELOPER AND STEWARD OF PERMANENTLY AFFORDABLE HOUSING IN THE RICHMOND, VIRGINIA REGION BY: (1) ACQUIRING AND HOLDING LAND PARCELS (2) BUILDING HOMES ON THE PARCELS AND (3) SELLING HOMES TO QUALIFIED LOW-TO-MODERATE INCOME HOME BUYERS WHO ENTER INTO A 99 YEAR LAND LEASE AGREEMENT WITH THE MWCLT. MWCLT ALSO ACTS AS THE LAND BANK FOR THE REGION'S THREE PRIMARY JURISDICTIONS: CITY OF RICHMOND, HENRICO COUNTY AND CHESTERFIELD COUNTY. MWCLT ALSO OCCASIONALLY BUILDS AND SELLS MARKET-RATE HOMES IN MIXED-INCOME DEVELOPMENTS WHERE THE SALES PROCEEDS GO TOWARDS SUBSIDIZING THE DEVELOPMENT COSTS OF AFFORDABLE HOMES. 2356662 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 15 0 1 6 1 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 X DOUGLAS PULLAN 8044225017 8975 THREE CHOPT RD HENRICO VA 23229 X CAROLYN CHAMPION CHAIR 3.00 X X 0 0 0 MICHELLE TAYLOR DIRECTOR 1.00 X 0 0 0 JAMIE SEAGRAVES DIRECTOR 1.00 X 0 0 0 JEISSON APOLO ARMAS VICE CHAIR 3.00 X X 0 0 0 LAURA LAFAYETTE IMMEDIATE PAST CHAIR 3.00 X X 0 0 0 DURON CHAVIS DIRECTOR 1.00 X 0 0 0 ALLISON DOMSON DIRECTOR 1.00 X 0 0 0 TIFFANY GOODMAN DIRECTOR 1.00 X 0 0 0 MICHAEL MULVILLE DIRECTOR 1.00 X 0 0 0 NELSON REVELEY TREASURER 1.00 X X 0 0 0 ASHLEIGH SHANNON DIRECTOR 1.00 X 0 0 0 WHITNEY BROWN SECRETARY 1.00 X X 0 0 0 ADRIENNE SNEAD DIRECTOR 1.00 X 0 0 0 GABRIEL BOUDALI DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 HOUSING AND DEVELOPMENT ADVISORS 203 N ROBINSON STREET RICHMOND VA 23220 PROVIDE FRACTIONAL STAFFING 209000 1 1656937 2727822 947480 4384759 DEVELOPMENT AND SALES FEES 531110 63590 63590 RENTAL INCOME 531390 22109 22109 85699 72197 72197 1250100 0 1250100 1250100 1250100 MISCELLANEOUS REVENUE 900099 3348 3348 3348 5796103 89047 0 1322297 556353 269773 244080 42500 7219 7219 10500 10500 16670 16670 4108 4108 16800 9449 6068 1283 3328 3328 4975 4975 BUILDING MATERIALS 1856590 1856590 HB GRANT EXPENSE 80143 80143 OTHER EXPENSES 60427 59038 1389 LAND BANK COST 48481 48481 55275 9082 13693 32500 2720869 2356662 287924 76283 2873044 4503314 1991339 262500 3243323 5371 189000 129962 5348107 3568684 5348107 2063146 2853078 13928536 13102332 114510 232210 892530 485000 31580 21906 1038620 739116 X 8370209 8745489 4519707 3617727 12889916 12363216 13928536 13102332 X 3075234 -3601934 0 X 0 1 X 1 0 X 1881049 838569 3692945 5853900 4384759 16651222 1881049 838569 3692945 5853900 4384759 16651222 16651222 7315 26562 28556 72197 134630 3348 3348 16789200 0.99180 0.99550 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5348107 5348107 5348107 HOUSING DEVELOPMENT COST 2139671 PROPERTIES HELD FOR RENT AND FUTURE SALE 713407 2853078 DEPOSIT LIABILITIES 21906 21906 X 5839183 43080 43080 5796103 0 5796103 2763949 43080 43080 2720869 0 2720869 PART X, LINE 2: THE ORGANIZATION IS A TAX-EXEMPT ORGANIZATION OPERATING UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE 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. MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITION AND CONCLUDED THAT THE ORGANIZATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. X LAND 1 947480 ASSESSED VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 8A THE MWCLT HOLDS BI-MONTHLY BOARD MEETINGS OF THE GOVERNING BODY AND COMMITTEE MEETINGS AS NEEDED. AT THE BOARD MEETINGS FORMAL MINUTES ARE TAKEN AND ADOPTED. AT THE COMMITTEE MEETINGS CONTEMPORANEOUS NOTES ARE TAKEN (BUT NOT FORMAL MINUTES). FORM 990, PART VI, SECTION A, LINE 8B THE MWCLT HOLDS BI-MONTHLY BOARD MEETINGS OF THE GOVERNING BODY AND COMMITTEE MEETINGS AS NEEDED. AT THE BOARD MEETINGS FORMAL MINUTES ARE TAKEN AND ADOPTED. AT THE COMMITTEE MEETINGS CONTEMPORANEOUS NOTES ARE TAKEN (BUT NOT FORMAL MINUTES). FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE 990 IS SENT TO MWCLT EXECUTIVE BOARD FOR REVIEW AND DISCUSSION. THE FINAL VERSION OF THE 990 IS SENT TO ALL BOARD MEMBERS FOR AN OPPORTUNITY TO COMMENT. FORM 990, PART VI, SECTION B, LINE 12C THE MWCLT BOARD MEMBERS SIGN A CONFLICT OF INTEREST POLICY AND AGREE TO FOLLOW THE POLICY. CONFLICT OF INTEREST POLICIES ARE KEPT ON FILE. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS FORM 1023, 990 AND 990T AVAIALBE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES AND REVIEWED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI LINE 8 DURING 2023, THE ORGANIZATION DETERMINED THAT THERE WERE ENTRIES THAT DID NOT ACCURATELY REFLECT THE BALANCES OF NET ASSETS, HOUSING INVENTORY, LAND AND CONTRIBUTIONS AND GRANTS RECEIVABLES AS OF DECEMBER 31, 2022 IN ACCORDANCE WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES. IN ADDITION THE ORGANIZATION DETERMINED THAT THERE WERE NET ASSETS WITH DONOR RESTRICTIONS THAT SHOULD HAVE BEEN INCLUDED IN NET ASSETS WITHOUT DONOR RESTRICTIONS AS OF DECEMBER 31, 2022. ACCORDINGLY, THE FINANCIAL STATEMENTS HAVE ADJUSTED THE 2022 NET ASSETS.