2024-11-14T11:56:01-08:00 2023-12-31 541950231 DOOLEY & VICARS 21 S SHEPPARD ST RICHMOND VA 23221 990 2023-01-01 541914519 Virginia Community Development Fund Inc VIRG 8043431200 115 South 15th Street Richmond VA 23219 Robert Newman TREASURER 8043431200 2024-11-14 true true Thomas E Turner CPA P01275584 8043552808 2024-11-14 2023 2024-10-15 13:58:12Z Robert Newman 115 South 15th Street Richmond VA 23219 5575731 false X N/A X 1996 VA To Promote the development of affordable housing for Virginia and West Virginias poorest and most underserved residents. 7 7 0 0 0 0 375000 4994605 870724 430256 74462 150870 0 1320186 5575731 0 0 177501 242570 0 0 736802 864057 914303 1106627 405883 4469104 9002328 13782493 880311 1191372 8122017 12591121 To Promote the development of affordable housing for Virginia and West Virginias poorest and most underserved residents. false false 1019791 0 5401665 VCDF is a subsidiary of VCDC, which invests equity into community development project with a focus on affordable housing. VCDF is a certified Community Development Financial Institution (CDFI) and applies its focus to other tools to assist in the development of these projects, primarily through affordable loans to housing projects, especially those with an allocation of Low Income Housing Tax Credits. VCDF is also a Certified Development Entity (CDE) and thereby, can apply to the US Treasurys New Market Tax Credit program (NMTC) for allocation of credits for investment in economic development projects. In 2009, VCDF received its first allocation of NMTCs for $35,000,000 and invested this resource into four projects located in underserved communities in Virginia: two museums (Roanoke and Bristol) and two theaters (Waynesboro and Clifton Forge). VCDF has since received a second allocation of NMTCs in the 2018 round for $35,000,000 which have been invested in another four projects in Virginia and West Virginia: three community facilities and one commercial/mixed use project. Another two projects were added in 2022 one is a The Tygart boutique hotel in WV, the other is one Small Loan Fund temporary lodging facility to support Dept State training facility in Blackstone, VA. VCDF is applying for another round of NMTCs through the 2020 round for another $50,000,000 and intends to continue investing in community facilities, hospitality projects as well as mixed-use projects (both commercial and residential). VCDF is applying for another round of NMTCs for 2023. 1019791 true false false false false true false false false false false false false true false false true true false false false false false false false false false false false true false false false false false false false false false false false false true true true false false false true 0 0 true 0 false false false false false false false false false false false false false X 7 7 false false false false false true false true true false false true true true true true true true true true true VA X X Robert Newman 8044825387 15 South 15th Street Suite 501 Richmond VA 23219 John PSalop President 1.00 X X 0 0 0 Robert Newman Treasurer 2.00 X 0 232781 52191 Neil Amin Board Member 1.00 X 0 0 0 Karen Wilds Vice President 1.00 X X 0 0 0 Laura Dupuy Secretary 38.00 X 0 109000 20854 Andy Kegley Board Member 1.00 X 0 0 0 Philip Stetson Board Member 1.00 X 0 0 0 Karen Jacobson Board Member 1.00 X 0 0 0 Philip Brooks Board Member 1.00 X 0 0 0 0 341781 73045 false true false 4994605 4994605 Asset Management Fees 531390 357576 0 0 Other Income 531390 23196 0 0 Syndication Fes 531390 49484 0 0 430256 150870 0 0 5575731 581126 0 0 242570 218313 24257 0 14890 0 14890 0 Professional Fees 405077 405077 0 0 Debt Forgivness 75000 75000 0 0 Bad Debt 203523 203523 0 0 Other 158817 111128 47689 0 6750 6750 0 0 1106627 1019791 86836 0 4660872 7156058 21438 55182 4309450 6556889 3071 3236 7497 11128 9002328 13782493 76311 87785 804000 1103587 880311 1191372 X 2940983 2840227 5181034 9750894 8122017 12591121 9002328 13782493 4469104 X false true X true true true X 0 475000 450000 4375000 375000 4994605 10669605 0 0 475000 450000 4375000 375000 4994605 10669605 0 10669605 8629 9381 30377 74462 150870 273719 0 386357 724444 322939 870724 2304464 13247788 0.80540 0.68350 X 0 0 0 Pt II Ln 10 Other Income Part II, Line 10 Description: Program Service 2019: 386357. 2020: 724444. 2021: 322939. 2022: 870724. true true Accrued Interest 11128 11128 5575731 5575731 5575731 1106627 1106627 1106627 false false false false false false false false false Robert Newman 0 232781 0 0 0 0 0 24000 0 28191 0 284972 0 0 Pt VI, Line 11b The President and Treasurer approve the 990 before it Pt VI, Line 11b is submitted. Pt VI, Line 12c The parent corporation (VCDC) has a conflict of interest and whistle-blower policy, which also applies to VCDF. Pt VI, Line 15a The Secretary and Treasurer of VCDF were full-time staff of an affiliate, Virginia Community Development Corporation (VCDC). VCDC commissioned a comprehensive compensation (salary and benefits) survey in 2021 to assess the market for comparable compensation for all staff. In addition, VCDC obtains salary and broad benefit comparables through its membership in the National Association of State and Local Equity Funds. The VCDC CEO determines compensation for these positions using this information as reference. Pt VI, Line 15b The Secretary and Treasurer of VCDF were full-time staff of VCDC that were shared with VCDF and other affiliates. The compensation reported in this return is for the full-time salary and benefits, not for the portion of compensation allocated to VCDF. Pt VI, Line 7a VCDC appoints the Board Members. VCDF Manager Inc 1840 W Broad Street RICHMOND VA 23220 271408838 Support Related Organizations Virginia Community Development Corp 1840 W Broad Street Richmond VA 23220 541533426 Affordable Housing VA 501 (c)3 NA VCDF Community Development 4 LLC 1840 West Broad St Richmond VA 23220 271409202 Community Development VA NA REL 0.00000 VCDF Community Development 5 LLC 1840 West Broad St Richmond VA 23220 271409246 Community Development VA NA REL 0.00000 VCDF Community Development 6 LLC 1840 West Broad St Richmond VA 23220 271409297 Community Development VA NA REL 0.00000 VCDF Community Development 7 LLC 1840 West Broad St Richmond VA 23220 271409427 Community Development VA NA REL 0.00000 VCDF Community Development 8 LLC 1840 West Broad St Richmond VA 23220 271409387 Community Development VA NA REL 0.00000 VCDF Community Development 9 LLC 1840 West Broad St Richmond VA 23220 271409484 Community Development VA NA REL 0.00000 VCDF Community Development 10 LLC 1840 West Broad St Richmond VA 23220 171409529 Community Development VA NA REL 0.00000 false false false false false false false false false false false true true true true true false false false Virginia Community Development Corp n 5041843 Actual Virginia Community Development Corp m,n,l Actual VCDF Community Development 4 LLC n Actual VCDF Community Development 5 LLC n Actual VCDF Community Development 6 LLC n Actual VCDF Community Development 7 LLC n Actual VCDF Community Development 8 LLC n Actual VCDF Community Development 9 LLC n Actual VCDF Community Development 10 LLC n Actual