PLATINUM2024

Better Housing Coalition

Better Homes. Better Communities. Better Lives.

aka Better Housing Coalition   |   Richmond, VA   |  www.betterhousingcoalition.org

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GuideStar Charity Check

Better Housing Coalition

EIN: 54-1479059


Mission

The Better Housing Coalition changes lives and transforms communities through high-quality, affordable housing.

Ruling year info

1988

Principal Officer

Greta J. Harris

Main address

PO Box 12117 Richmond, VA 23241

Richmond, VA 23241 USA

Show more contact info

Formerly known as

Richmond Better Housing Coalition

EIN

54-1479059

Subject area info

Housing development

Youth organizing

Senior assisted living

Housing services

Population served info

Children and youth

Economically disadvantaged people

Adults

Families

NTEE code info

Other Housing Support Services (L80)

Senior Continuing Care Communities (P75)

Youth Development Programs (O50)

What we aim to solve

SOURCE: Self-reported by organization

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

SOURCE: Self-reported by organization

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.

Population(s) Served
Adolescents
Children and youth

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.

Population(s) Served
Seniors
Economically disadvantaged people

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.

Population(s) Served
Adults
Economically disadvantaged people

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.

Population(s) Served
Adults

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.

Population(s) Served
Families
Adults

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

Our results

SOURCE: Self-reported by organization

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

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

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.

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.

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.

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.

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.

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2023 info

SOURCE: IRS Form 990

0.51

Average of 4.06 over 10 years

Months of cash in 2023 info

SOURCE: IRS Form 990

19

Average of 13.6 over 10 years

Fringe rate in 2023 info

SOURCE: IRS Form 990

21%

Average of 24% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Better Housing Coalition

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Better Housing Coalition

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

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 ending: cloud_download Download Data

Better Housing Coalition

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

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
Form 1023/1024 is not available for this organization

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 employees

SOURCE: IRS Form 990

Compensation
Other
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Compensation data
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Better Housing Coalition

Highest paid employees

SOURCE: IRS Form 990

Compensation
Other
Related
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Compensation data
Download up to 5 most recent years of highest paid employee data for this organization

Better Housing Coalition

Board of directors
as of 06/05/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

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

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? Yes

Organizational demographics

SOURCE: Self-reported; last updated 5/24/2024

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
Black/African American
Gender identity
Female, Not transgender
Sexual orientation
Gay, Lesbian, Bisexual, or other sexual orientations in the LGBTQIA+ community
Disability status
Person without a disability

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

No data

Disability

Contractors

Fiscal year ending
There are no fundraisers recorded for this organization.