Community Improvement, Capacity Building

Virginia Housing and Community Development Corporation

  • SUFFOLK, VA
  • http://www.vhcdc.org

Mission Statement

VHCDC is focused on initiatives that advance the success and growth of disadvantaged micro and small business enterprises, stimulate job creation, and advance housing design and construction.

Main Programs

  1. The MBE Empowerment Fund™
  2. Investment Clubs
Service Areas

Self-reported

Virginia

Primary: VirginiaSecondary: United States

ruling year

2004

President since 2004

Self-reported

Mr. James R Taylor III

Keywords

Self-reported

business development,community development,economic development,small business,education and training,business counseling,business training,management intervention,technical assistance,equity grant,equity-match grant,capital,access to capital,venture capital,low-income housing,housing development,housing renovation,business incubator,small business incubation,business coaching,rental counseling,rental assistance

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EIN

20-0779486

 Number

1341063740

Also Known As

VHCDC

Contact

Cause Area (NTEE Code)

Economic Development (S30)

Community, Neighborhood Development, Improvement (S20)

Community Improvement, Capacity Building N.E.C. (S99)

IRS Filing Requirement

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

Programs + Results

How does this organization make a difference?

Programs

Self-reported by organization

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

Program 1

The MBE Empowerment Fund™

The MBE Empowerment Fund™ (The Fund) is a community development venture capital fund created to provide long-term equity, near equity, and debt investments in Virginia-based minority business enterprises (MBEs). The Fund seeks to close the funding gap experienced by minority business enterprises in Virginia, while strengthening their growth potential and helping disadvantaged small business owners and aspiring entrepreneurs receive the education, training, and resources they need to succeed.

Category

Minorities

Population(s) Served

Ethnic/Racial Minorities -- General

Military/Veterans

Other Minorities

Budget

Program 2

Investment Clubs

VHCDC seeks to facilitate the creation of hybrid investment partnerships that may invest in stocks, bonds, and real estate, with emphasis on providing venture capital for small, disadvantaged businesses in their community.

Category

Financial Counseling

Population(s) Served

Ethnic/Racial Minorities -- General

Females, all ages or age unspecified

Poor/Economically Disadvantaged, Indigent, General

Budget

Service Areas

Self-reported

Virginia

Primary: VirginiaSecondary: United States

Social Media

Funding Needs

VHCDC seeks funding to seed its MBE Empowerment Fund, a community development venture capital fund.  Individual, corporate, and other contributions (financial) are sought to create a pool of $5 million (or more) to make equity, near-equity, and debt investments in small disadvantaged businesses in our region.

Accreditations

Community Development Financial Institutions Fund of the U.S. Department of the Treasury - Community Development Entity Certification (Annual)

External Reviews

Source: greatnonprofits.org

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

Virginia Housing and Community Development Corporation
Fiscal year: Jan 01-Dec 31

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Operations

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

Virginia Housing and Community Development Corporation

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2014 and 2013
  • Board Chair, Board Co-Chair and Board Members
  • Access to the GuideStar Community
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President

Mr. James R Taylor III

BIO

James R. Taylor, III is Founder and President of Virginia Housing and Community Development Corporation (VHCDC), a Virginia non-profit 501(c)3] corporation organized to promote economic and community development in the Commonwealth of Virginia. Mr. Taylor is a social entrepreneur, promoting entrepreneurial education and investment in small, disabled-veteran, women, and minority-owned businesses.

Governance

BOARD CHAIR

Mrs. Katrina S Taylor

BOARD LEADERSHIP PRACTICES

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices. Self-reported by organization

Yes

BOARD ORIENTATION & 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?

No

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?

No

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?

No

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?

No

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?