Financial Statement For the Year Ended December 31, 2023
FCHC: A Virginia Community Development Corporation is audited in accordance with accounting principles generally accepted in the United State of America (GAAP). The audit for the year ending December 31, 2023 was performed by Dixon Hughes Goodman LLP. The financial statements were found to present fairly, in all material respected, the financial position of Falls Church Housing Corporation and its subsidiaries as of December 31, 2023, and the results of operations and its cash flows for the year then ended.
REVENUES & GAINS
ASSETS
Winter Hill Rental Income
$1,534,669
Cash & Cash Equivalents
$1,750,374
Interest Income Other Revenue
171,259 174,603
Account Receivable Grant Receivable
7,926
130,000 1,982,237 3,407,115 320,065
Note Receivable
Total Revenues & Gains
$1,880,531
Fixed Assets Other Assets
EXPENSES & LOSSES
Total Assets
$7,597,717
Winter Hill Operations
$1,225,996
HQ
309,383 131,156 101,257
LIABILITIES
Depreciation & Amortization
Accounts Payable Short Term Liabilities Long Term Liabilities Tenant Security Deposits
$40,228 276,868 6,611,582
Program Expenses
Total Expenses & Losses
$1,767,792
58,214
Excess (Deficiency) of Revenues Over Expenses
Total Liabilities
$6,986,892
$112,739
EQUITY
Net Assets / Restricted Net Assets / Unrestricted
$130,000 480,825
Total Equity
$610,825
Total Liabilities & Equity
$7,597,717
EXPENSES
INCOME
Winter Hill Rental Income 82% Interest Income 9% Other Revenue 9%
Winter Hill Operations
69%
HQ 18% Depreciation & Amortization 7% Program Expenses 6%
330-B.S. Virginia Avenue, Suite 2 Falls Church, VA 22046 703.241.5402 • fchccdc.org
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