Better Business Bureau Report for
Better Housing Coalition

Better Business Bureau Report issued October 2010
Better Business Bureau Report expires October 2012


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Better Housing Coalition
Address: 23 W. Broad Street
Suite 100
  Richmond, VA 23219
Phone: 804-644-0546
Web Address: www.betterhousingcoalition.org
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Better Business Bureau Comments

Year, State Incorporated: 1988, Virginia
Affiliates: None
Stated Purpose: Better Housing Coalition changes lives and transforms communities through high quality, affordable housing.

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Evaluation Conclusions

               

Better Housing Coalition meets the 20 Standards for Charity Accountability.
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Programs

               

The Better Housing Coalition builds, renovates and restores affordable well-located rental properties, senior apartments and single family houses. What makes the Coalition unique among its peers is the provision of services to ensure the success of our residents.

For the fiscal year ended December 31, 2009, Better Housing Coalition's program expenses were:

  
Rental properties 6,284,466
Property development activities 2,049,705
Community social work 652,524
Total Program Expenses: $8,986,695
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Governance

               

Chief Executive : T. K. Somanath, President & CEO
Compensation*:
 $195,223

Chair of the Board: Lisa-Margaret S. Bryan
Chair's Profession / Business Affiliation: Community Volunteer

Board Size: 22

Paid Staff Size: 72

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

direct mail, invitations to fund raising events, print advertisements, radio, grant proposals, internet
Fund raising costs were 15% of related contributions. (Related contributions, which totaled $2,530,716, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on Better Housing Coalition's audited financial statements - consolidated for the fiscal year ended December 31, 2009.

Source of Funds  
Revenue-Rental Properties 6,958,895
Revenue and Other Support 2,530,716
Revenue-Property Sales -360,118
Total Income $9,129,493


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Uses of Funds as a % of Total Expenses

Programs: 71%  Fund Raising: 3%  Administrative: 4%  Other Expenses: 22%

Total income   $9,129,493
  Program expenses $8,986,695
  Fund raising expenses 379,767
  Administrative expenses 548,467
  Other Expenses 2,751,796
Total expenses   $12,666,725
Expenses in Excess of Income   (3,537,232)
Beginning net assets   52,041,281
Other Changes in Net Assets 5,341,826
Ending net assets   53,845,875
Total liabilities   35,275,103
Total assets   $89,120,978


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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