SECOND ACT COMMUNITIES

Virginia Beach, VA   |  www.secondactcommunities.org

Mission

Our mission is to create housing and supportive services that profoundly change the lives of our neighborsacross the United States.

Our vision is to create quality homes for everyone and to be champions for supportive communities where people can not only survive but are empowered to live
their best lives.

Ruling year info

1993

Principal Officer

Addie Thomason

Main address

2400 Potters Road

Virginia Beach, VA 23454 USA

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EIN

54-1655399

NTEE code info

Housing Development, Construction, Management (L20)

Community, Neighborhood Development, Improvement (S20)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Housing Development

Second Act Communities creates housing for neighbors in need, including but not limited to: veterans, seniors, workforce, employer-sponsored, and affordable permanent rental housing.

Population(s) Served

The Beloved Community Collaborative is a new comprehensive community revitalization model that Second Act Communities will share with communities across the country. It is structured as a ten year initiative to empower our neighbors in economically struggling communities to transform their own communities into the best places to live in their city. Our approach to building a great community is to attack poverty and its ramifications where no amount of money or new buildings can reach: in the hearts, minds and spirits of our low-resourced neighbors.

Population(s) Served

Where we work

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Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Second Act Communities is committed to serving more neighbors in new ways and in new geographic areas by creating additional housing with programs and services that profoundly change the lives of those we serve. We are equally committed to our employee partners who are the foundation of our organization. SAC strives to retain the best and brightest talent and strengthen our organizational infrastructure to better support our employee partners and operations through advancements in technology and knowledge management. Through the efficient use of resources, we will reduce paper consumption, increase recycling, and be good stewards of the environment. We are excited about the new strategic direction of our organization.
Through its strategies and initiatives, this plan is the key that unlocks the door to financial sustainability.

In order to serve more neighbors in new ways and in new geographic areas, SAC will:
- Develop 450 new multi-family rental housing units owned by SAC or VBCDC by 2020.
-Develop profitable initiatives to increase unrestricted income by 10% year over year starting in 2016.
-Increase public awareness and support for quality housing for all in geographic service area beginning July 2015.

In order to attract and retain the best and brightest talent for its staff and board, SAC will:
- Employee engagement survey distributed spring 2020 will reflect above average partner satisfaction ratings for 90% of partners surveyed.
- Develop a Board Recruitment and Retention Plan by July 2017.
- Develop information technology, knowledge management and efficiency functions by July 2017 to reduce the organization's environmental footprint.

In order to become financially sustainable by 2020, SAC will:
- Implement a joint funds development plan with VBCDC to increase philanthropic and individual donations by 15% year over year beginning 2015 to fund an endowment.
- Develop sound business models for new projects by December 2015.
- Develop creative financing options for SAC to support development and operating activities.

Our strengths include our ability to develop and operate award winning housing and supportive services programs that profoundly change the lives of our neighbors. We
employ highly qualified and fully committed professionals who are dedicated to our mission. Our Board of Directors are leaders in the community and are committed to the organization. Finally, Second Act Communities has a proven track record of stewardship and fiscal responsibility.

In early 2015, after completing an analysis of our business and organizational
sustainability, we further expanded the geographic service area to the United States of America and rebranded our organization as Second Act Communites. Our new name, Second Act Communities, emphasizes our focus on innovation in our commitment to revitalizing communities.

We have developed over 100 units of affordable rental housing for low and moderate income individuals and families, homeless and disabled veterans, and homeless families using federal, state and local grant funding leveraged with below market rate financing.

Community misperception and opposition remain a threat to our continued development of quality housing that is affordable. When land or a suitable development project is identified, Second Act Communities lacks the
development capital to compete with for-profit developers. We are unable to quickly assemble the funding needed to be competitive when bidding against other for-profit entities for the purchase of existing multifamily portfolios on the market.

Financials

SECOND ACT COMMUNITIES
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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SECOND ACT COMMUNITIES

Board of directors
as of 6/28/2016
SOURCE: Self-reported by organization
Board chair

James Banks

Retired Mortgage Broker

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No