Housing Capital Corporation of Virginia

Analysis

Housing Capital Corporation of Virginia is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in November 1992, 34 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Housing Capital Corporation of Virginia reported income of $1.3m and spending of $1.7m, spending 136% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.3m (+19%), an average of +4.4% a year. Over the whole period it spent 118% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Housing Capital Corporation of Virginia sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within VA. Charities of a similar size with the same main cause include Martin de Porres Foundation ($1.3m), Lvtrise ($1.3m) and Habitat for Humanity International Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 98% of the total. Other salaries and wages came to $474k. At year end it held assets of $1.3m against liabilities of $80k, net assets of $1.3m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.