Better Housing Coalition
Better Homes. Better Communities. Better Lives.
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Better Housing Coalition
EIN: 54-1479059
as of September 2024
as of September 09, 2024
Programs and results
Reports and documents
Download annual reports Download other documentsWhat we aim to solve
The Better Housing Coalition (BHC) is fighting poverty, brick by brick. Through high-quality, affordable housing and free and voluntary resident support services offered to residents of all ages living in a BHC rental community, the Better Housing Coalition provides a foundation for family housing and financial stability, upward financial, educational, health and occupational mobility, and an opportunity to live their best lives in a neighborhood of choice.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Positive Youth Development
While services are available to all of our BHC residents, the majority of the children and youth we reach are residents of Winchester Greens in Chesterfield County and Lincoln Mews in the City of Richmond, where we have community centers. We serve nearly 200 children in the two centers year-round in an active youth development program. The program provides homework assistance, character and leadership skill development, mediation education, career exploration opportunities and resume building skills. All age groups are able to learn valuable life skills and receive exposure to a wide range of professions through pre-vocational programs. These programs help youth learn about handling conflict, meeting supervisor expectations, financial literacy, and working toward long-term goals. Each November, a college field trip to nearby colleges and universities is arranged on a weekday when public schools are not in session, but college campuses are alive with students so they have the chance to observe college-student life. BHC collaborates with Boys to Men Mentoring Partnership, a character-building non-profit organization for young men aged 12 - 17 who live in our rental communities. The program pairs adult male volunteers with the boys to provide guidance and serve as positive role models. Through team-building exercises, activities and community service projects throughout the year, the boys learn leadership and conflict resolution skills and qualities such as integrity, accountability, respect and compassion. The adult mentors help each teen discover his own potential, and reinforce the concept of personal responsibility to self, family, and community along the way.
Senior Health and Wellness Program
Lower income older adults need consistent and committed health and wellness opportunities and services in order to successfully age in place in their own homes in the community with a high quality of life, dignity, and less cost to society. BHC has 700 seniors living in eight communities. Their average age is 75, and 25 percent are between 85 and 103 years old. Their average income is $11,546, and 56 percent have incomes of less than $10,000. BHC provides a comprehensive health and wellness program to seniors. Our goal is to help our seniors stay healthy and active so that they can successfully age in place. We assist seniors to target and maintain chronic conditions such as hypertension and diabetes through education, exercise and nutrition. We also offer entitlements assistance as well as programs and activities such as reminiscence groups, painting and writers workshops that stimulate the mind and memory. Our planning services assist residents with end-of-life affairs and hospice support for those who want to remain in their home during life-limiting illness. The cost to provide these needed services to each senior is low -- $7,300 a year or $21/day including their rent. This is about one tenth of the cost to taxpayers if a senior had to move to a nursing home with public assistance. The funds are raised from the private philanthropic community, and for every dollar raised, another four are leveraged from community partners which make these comprehensive services to seniors possible. The majority of our senior residents remain with BHC for the rest of their lives.
BHC Adult Services
BHC provides a myriad of services and supports for our adult residents. Higher education scholarships, vocational training and support services are an integral part of a total self-sufficiency plan. Targeted services are provided by our on-site social work staff who also leverage a wide array of community partners and resources. These services are available to residents in any of our communities, but our concentration has been at Winchester Greens and Lincoln Mews. The services help eliminate the obstacles that keep residents from successfully gaining and maintaining employment that can move families toward greater security and begin to build family wealth.
Home Ownership Program
The affordable high-quality homes BHC constructs and rehabilitates provide first-time homeowners with low to moderate income access to equity and wealth building. Home ownership helps stabilize neighborhoods and is an important component of healthy communities. By embracing green building practices by building to EarthCraft standards, a certification program which serves as a blueprint for comfortable, energy efficient homes, homeowners have lower maintenance and utility bills. While BHC single-family homes incorporate modern green features, such as solar hot water heating systems, they are designed with classic architectural details which blend seamlessly with the surrounding neighborhood. To date, BHC has built and rehabilitated more than 180 single-family homes throughout the metro Richmond region in neighborhoods including Church Hill, Carver and Blackwell. Through various municipal and private organizations, down payments and closing cost grants are available to qualified buyers. These grants can reduce down payments to as little as $2,000. Our homeowners have 30 year fixed mortgages with monthly payments between $800 and $1000. We also ensure that all of our home owners have pre- and post-purchase counseling. In more than 17 years and 180 homes we have had only two foreclosures.
Multi-Family Communities
BHC currently serves more than 3,500 residents in 16 affordable multi-family communities, including the eight communities for seniors. BHC operates its own property management company, BHC Management, to oversee leasing, property management and maintenance. Like BHC's single-family homes, the multi-family communities are equipped with modern energy efficient features which reduce utility costs for residents, enabling them to retain more of their income. BHC stays in each community it enters. BHC Management works closely with BHC's Community Social Work Department to ensure both the satisfaction and success of residents. Having a nice place to live in conjunction with support services truly changes lives and brings lasting transformation to the community.
Where we work
Awards
Achievement Award 1997
Governor's Conference on Housing
HUD's Secretary Award for Excellence - Gold Award - Best in American Living 1998
HUD
Mary Wingfield Scott Award for Preservation 1998
Historic Richmond Foundation
Achievement Award 1999
Governor's Housing Conference
Achievement Award - Best Housing Related Organization 2001
Virginia Housing Conference
Community Excellence Award 2001
Richmond United Way Services
Maxwell Award for Excellence 2002
Fannie Mae Foundation
Leadership Award 2002
Virginia Housing Coalition
Golden Hammer Award - Best Residential Renovation 2005
Alliance to Conserve Old Richmond Neighborhoods
MetLife Award - Property and Asset Management 2005
MetLife
Leadership Award 2006
U.S. Green Building Council - James River Chapter
Blue Ribbon Model Community Award 2006
National Public Health Association
Award for Excellence for Affordable Housing Built Responsibly - Honorable Mention 2007
Home Depot Foundation
Richmond History Maker Award - Promoting Stronger Communities 2008
Valentine Richmond History Museum
Virginia Housing Award - Best Housing Organization 2008
Governor's Housing Conference
Golden Hammer Award - Best Residential Renovation 2009
Alliance to Conserve Old Richmond Neighborhoods
Builder Award - Affordable Single-Family Builder of the Year 2010
EarthCraft Virginia
Investing for Good Award 2010
Capital One Services, Inc.
Neighborhood Excellence Initiative – Neighborhood Builder Award 2010
Bank of America
Builder Award – Multifamily Renovation Project of the Year – Lincoln Mews 2011
EarthCraft Virginia
Humanitarian Award – T.K. Somanath 2011
Virginia Center for Inclusive Communities
Virginia Housing Award – Best Affordable 2011
Governor’s Housing Conference
2011 Vision Awards – Sustainable Development 2011
Urban Land Institute Richmond
2011 Vision Awards – Best Overall Project 2011
Urban Land Institute Richmond
Excellence in Virginia Government Award - Community Enhancement - Lincoln Mews 2011
VCU L. Douglas Wilder School of Government and Public Affairs
Jack Kemp Excellence in Workforce Housing Award - Finalist 2012
Urban Land Institure
J. Timothy Anderson Award for Excellence in Historic Rehabilitiation 2012
National Housing & Rehabilitation Association
Virginia Housing Awards - Best Housing Preservation/Revitalization Category 2013
Virginia Department of Housing & Community Development
Best Practice in Affordable Housing Nationwide 2013
U.S. Department of Housing & Urban Development
Sustainable Leadership Award: Multi-family New Construction Project of the Year 2014
Earthcraft Virginia
Best Environmental Development 2014
Greater Richmond Awards for Commercial Real Estate (GRACRE)
Best Affordable Housing Energy Conservation Effort 2014
Virginia Housing Awards
Best Residential Project 2014
Greater Virginia Green Building Council Leadership Award
Charles L Edson Tax Credit Excellence Award - Green Housing 2015
Affordable Housing Tax Credit Coalition
Photos
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Number of low-income families housed in affordable, well-maintained units as a result of the nonprofit's efforts
This metric is no longer tracked.Totals By Year
Population(s) Served
Extremely poor people, Low-income people, Working poor, Age groups, Ethnic and racial groups
Related Program
Multi-Family Communities
Type of Metric
Outcome - describing the effects on people or issues
Direction of Success
Decreasing
Context Notes
The number reflects total residents (individuals) vs. families as that metric was not available. We house low-to-moderate income families, individuals and senior residents in our rental communities.
Number of older adults being supported to live at home through home care, assistive technology, and/or personal support plans
This metric is no longer tracked.Totals By Year
Population(s) Served
Older adults, Seniors
Related Program
Senior Health and Wellness Program
Type of Metric
Outcome - describing the effects on people or issues
Direction of Success
Holding steady
Context Notes
We provide health, nutrition and wellness services free of charge to seniors to help them age in place longer and more healthfully.
Number of housing units built
This metric is no longer tracked.Totals By Year
Population(s) Served
Age groups
Related Program
Multi-Family Communities
Type of Metric
Outcome - describing the effects on people or issues
Direction of Success
Increasing
Context Notes
While our goal is to increase the number of units, it can take years from planning to opening, thus the number of units may not increase every year, but our real estate pipeline is robust.
Number of students who receive scholarship funds and/or tuition assistance
This metric is no longer tracked.Totals By Year
Population(s) Served
Adults
Related Program
BHC Adult Services
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
We raise funds for higher education scholarships for eligible residents of any age who seek a certificate, 2-year or 4-year education. Currently we distribute $10k in scholarships each year.
Number of clients passing job skill competency exams or assessments after completing course
This metric is no longer tracked.Totals By Year
Population(s) Served
Adults
Related Program
BHC Adult Services
Type of Metric
Output - describing our activities and reach
Direction of Success
Decreasing
Context Notes
The number of residents seeking jobs training and skills assessments in 2020 increased greatly due to job losses and wage reductions related to COVID-19.
Our Sustainable Development Goals
Learn more about Sustainable Development Goals.
Goals & Strategy
Reports and documents
Download strategic planLearn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
Better Housing Coalition aims to ensure that every citizen in our region, regardless of their economic status, has good choices in where they live and how they reach their fullest potential.
What are the organization's key strategies for making this happen?
The Better Housing Coalition's (BHC) mission is to change lives and transform communities through high-quality, affordable housing. Revitalized neighborhoods have a tremendous impact on long-term health of communities.
Since 1988 we've enabled thousands of people of diverse backgrounds and incomes to rent or buy energy-efficient homes, to gain self sufficiency, and to take pride and ownership of their communities. The programs we offer help residents become more self-reliant and successful, thus reducing the public burdens often associated with poverty.
Our five-year strategic plan involves four major strategic outcomes by 2024:
1. Deepen the Richmond, Virginia region's vision and commitment to increasing affordable housing opportunities;
2. Build more affordable housing communities;
3. Encourage our residents to thrive by strengthening our resident services delivery model; and
4. Increase our organizational resiliency to position us for greater financial, human capital and production growth.
What are the organization's capabilities for doing this?
To ensure long-lasting change in the communities we've developed, BHC maintains an ongoing, active presence. Our on-site resident support services address the varied needs of our residents and provide a wide array of free and voluntary services. We help residents realize big dreams -- such as attaining higher education and home ownership -- and we address big concerns -- such as access to quality child care and coordinating healthcare for seniors.
Our unique not-for-profit model encompasses several entities under the BHC umbrella. Our wholly owned construction company ensures high-quality, eco-certified construction and commits to hiring local and minority sub-contractors. Our mission-focused property management company serves residents and maintains physical assets. We partner with public agencies, businesses, and community and neighborhood organizations to develop and support vibrant, award-winning communities.
Our redevelopment efforts have a catalytic effect and often attract developers to continue improving and stabilizing communities.
National organizations that have recognized BHC's leadership in developing sustainable communities include Neighborworks, the Fannie Mae Foundation, the U.S. Dept. of Housing and Urban Development, and Partners for Livable Communities.
What have they accomplished so far and what's next?
We have invested in our human capital with strong hires and a focus on company culture; improved our financial capacity; developed a robust real estate development pipeline; raised our profile through rebranding and website redesign; expanded donor engagement; and provided additional resident services including career navigation, eviction prevention and expanded partnership programming.
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2023 info
0.51
Months of cash in 2023 info
19
Fringe rate in 2023 info
21%
Funding sources info
Assets & liabilities info
Financial data
Better Housing Coalition
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jan 01 - Dec 31
This snapshot of Better Housing Coalition’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
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Business model indicators
Profitability info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Unrestricted surplus (deficit) before depreciation | $1,993,720 | $1,372,228 | $3,832,317 | $6,084,764 | $2,458,940 |
As % of expenses | 69.9% | 42.8% | 98.7% | 167.4% | 47.4% |
Unrestricted surplus (deficit) after depreciation | $1,988,455 | $1,368,427 | $3,826,692 | $6,057,071 | $2,416,496 |
As % of expenses | 69.6% | 42.7% | 98.4% | 165.4% | 46.2% |
Revenue composition info | |||||
---|---|---|---|---|---|
Total revenue (unrestricted & restricted) | $4,941,478 | $7,002,341 | $8,750,898 | $7,381,131 | $7,436,643 |
Total revenue, % change over prior year | 1.9% | 41.7% | 25.0% | -15.7% | 0.8% |
Program services revenue | 7.0% | 5.8% | 2.7% | 3.1% | 2.2% |
Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Investment income | 1.0% | 0.4% | 0.5% | 0.1% | 1.8% |
Government grants | 21.2% | 23.2% | 10.2% | 24.8% | 47.6% |
All other grants and contributions | 70.7% | 69.7% | 83.6% | 71.2% | 58.6% |
Other revenue | 0.1% | 1.0% | 3.0% | 0.9% | -10.3% |
Expense composition info | |||||
---|---|---|---|---|---|
Total expenses before depreciation | $2,851,134 | $3,203,783 | $3,882,160 | $3,633,923 | $5,189,600 |
Total expenses, % change over prior year | -11.5% | 12.4% | 21.2% | -6.4% | 42.8% |
Personnel | 65.5% | 67.8% | 59.9% | 63.8% | 43.1% |
Professional fees | 7.6% | 8.0% | 10.6% | 12.5% | 3.2% |
Occupancy | 5.1% | 4.9% | 4.6% | 5.4% | 3.8% |
Interest | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Pass-through | 14.3% | 12.8% | 20.8% | 13.3% | 38.2% |
All other expenses | 7.5% | 6.6% | 4.1% | 5.0% | 11.7% |
Full cost components (estimated) info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Total expenses (after depreciation) | $2,856,399 | $3,207,584 | $3,887,785 | $3,661,616 | $5,232,044 |
One month of savings | $237,595 | $266,982 | $323,513 | $302,827 | $432,467 |
Debt principal payment | $0 | $0 | $0 | $0 | $0 |
Fixed asset additions | $0 | $0 | $91,372 | $764,036 | $0 |
Total full costs (estimated) | $3,093,994 | $3,474,566 | $4,302,670 | $4,728,479 | $5,664,511 |
Capital structure indicators
Liquidity info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Months of cash | 15.0 | 18.1 | 18.4 | 23.0 | 19.0 |
Months of cash and investments | 18.3 | 21.2 | 21.3 | 26.2 | 28.0 |
Months of estimated liquid unrestricted net assets | 56.3 | 55.2 | 57.1 | 78.6 | 62.4 |
Balance sheet composition info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Cash | $3,554,288 | $4,839,608 | $5,938,545 | $6,959,248 | $8,223,899 |
Investments | $805,075 | $830,920 | $943,384 | $969,969 | $3,885,624 |
Receivables | $291,911 | $208,324 | $206,862 | $250,358 | $339,488 |
Gross land, buildings, equipment (LBE) | $903,643 | $903,643 | $995,015 | $1,759,051 | $1,033,353 |
Accumulated depreciation (as a % of LBE) | 28.2% | 28.6% | 26.5% | 16.6% | 30.7% |
Liabilities (as a % of assets) | 8.0% | 10.6% | 18.5% | 21.8% | 35.6% |
Unrestricted net assets | $14,018,452 | $15,386,879 | $19,213,571 | $25,270,642 | $27,687,138 |
Temporarily restricted net assets | N/A | N/A | N/A | N/A | N/A |
Permanently restricted net assets | N/A | N/A | N/A | N/A | N/A |
Total restricted net assets | $787,603 | $3,213,933 | $4,250,354 | $2,638,498 | $3,402,440 |
Total net assets | $14,806,055 | $18,600,812 | $23,463,925 | $27,909,140 | $31,089,578 |
Key data checks
Key data checks info | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Material data errors | No | No | No | No | No |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
Principal Officer
Greta J. Harris
Greta Harris oversees BHC's strategic growth and mission. Before joining BHC, she was vice president for the Local Initiatives Support Corporation (LISC), providing strategic and managerial support to 10 of LISC's local offices in southern and mid-western regions. Prior to that, she was the senior program director for Virginia LISC. Ms. Harris was appointed to the Virginia Tech Board of Visitors in 2016 and also serves on the boards of ChamberRVA and the Richmond Jazz Society. She has served on the boards of the City of Richmond’s Economic Development Authority, the Federal Reserve Bank’s Board of Governors’ Consumer Advisory Council, & the Virginia Housing Coalition. Greta was named the Virginia Tech Black Alumni Association’s 2016 Philanthropist of the Year; and was recognized as a 2014 Outstanding Virginian by Equality Virginia. Greta earned her bachelor of architecture degree from Virginia Tech and holds a MS in architecture & urban design from Columbia University.
Number of employees
Source: IRS Form 990
Better Housing Coalition
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
Better Housing Coalition
Highest paid employeesSOURCE: IRS Form 990
Compensation data
Better Housing Coalition
Board of directorsas of 06/05/2024
Board of directors data
Mr. Todd Waldo
Hugh Helen LLC
Term: 2024 - 2026
Greta Harris
Better Housing Coalition
Richard Dickinson
TowneBank
Veronica Fleming
Consultant
Carolyn Rewane
Wells Fargo
Paul Sheehy
GrayCo
Patricia Bradby Moore
Boomi
Rev. Dr. Robert Diggs
Tabernacle Baptist Church
Cheryl Groce-Wright
Kaleidoscope Collaborative RVA
Sarah Brooks
Community Volunteer
Lori Dwyer, Ph.D.
Reynolds Community College
Linda T. Hines, RN, MS, MBA
Humana
David Ring
Atlantic Union Bank
Kristin Swanlund
Capital One
Zanas D. Talley
Whiteford, Taylor & Preston LLP
Vida Williams
Virginia ABC
Atma Iyer
Community Volunteer
Duke Dodson
Dodson Companies
Beverly Walker
Virginia Commonwealth University
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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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? Yes
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Transgender Identity
Sexual orientation
No data