Virginia Community Capital, Inc.
7814 Carousel Lane
Suite 100
Richmond VA 23294
Mission Statement

The mission of Virginia Community Capital is to support housing and community development ventures, increase jobs, and build sustainable communities by offering flexible financial products and advisory services.

CEO/Executive Director Jane N. Henderson
Board Chair Dixon Hannah
Board Chair Company Affiliation Retired Associate Provost, Virginia Tech
Contact Information
Address 7814 Carousel Lane
Suite 100
Richmond, VA 23294
Telephone 804 344-5484
Fax 804 344-5451
History and Background
Year of Incorporation 1999
Financial Summary
Revenue vs Expense Bar Graph - All Years
Expense Breakdown Bar Chart - All Years
Projected Revenue $0.00
Projected Expenses $0.00
Additional Documents


The mission of Virginia Community Capital is to support housing and community development ventures, increase jobs, and build sustainable communities by offering flexible financial products and advisory services.

Virginia Community Capital is a Community Development Financial Institution (CDFI) with a mission to create jobs, energize places, and promote an enhanced quality of life for Virginians. With offices in Christiansburg, Norfolk, and Richmond, we offer innovative and flexible financing tools throughout the state. In addition, we provide professional advisory services to individuals and organizations in low-to-moderate income and underserved communities.

VCC was established in 2006 as a community development financial institution (CDFI) with an initial $15 million investment under Governor Mark R. Warner. The goal was to leverage that initial investment for an economic return to underserved areas. More than $2.4 million was originated across our first seven real estate development loans.

Through the power of partnerships and leverage, we have turned that $15 million seed investment into over $900 million of impact in Virginia. Over the years, VCC has become known for its ability to combine the resources of national, state, and local social investors into successfully funded projects. We are, many times, the “first in” on projects designed to positively impact their community.

We bring a knowledgeable management team with the experience and ability to lead. We have support of local governments that are proud to call us partners. And we have banks and companies in the private sector that trust us to guide their investment dollars to the right projects, at the right time, in the areas of greatest need.

Since our founding, VCC-financed projects have created or retained more than 5,500 jobs, financed over 5,000 affordable housing units, and funded nine much-needed healthcare facilities. VCC’s staff has provided more than 14,000 hours of free advising. All told, more than 7 million square feet of business and housing spaces have been created or rehabilitated with VCC’s leadership.

And we’re just getting started. Let’s do more, together.
Needs Virginia Community Capital is always on the look out for new partnerships. If you are a developer or local government, can we help you realize your vision for a new multi-family affordable housing development or a downtown mixed use revitalization project? If you are a private or institutional investor, how would you like to earn a financial return on your investments with added benefit of knowing your funds are serving the local community? Are you local government, non-profit, or small business owner? Can we help you understand project feasibility, operational efficiencies, or financial performance of your organization? If you are a funder, VCC offers a unique opportunity to see your dollars create wide and lasting impact. VCC secures approximately 80% of its operating budget from the earned revenues of banking activities. This means that while every dollar we raise through grants and donations are critical to maintaining and growing our programs, these dollars can be used with significant efficiency relative to many other non-profit organizations.
VCC is a state chartered CDFI and banking entity with assets of over $150 million providing innovative loan and investment solutions for affordable housing and economic development projects in Virginia. Our mission is to offer innovative, flexible financial products designed to support housing and community development ventures, increase jobs and build sustainable communities. VCC has offices in Christiansburg, Richmond, Abingdon, and Norfolk, Virginia. We lend $60-65 million per year and offer loan capital that is broader than bank lending to projects that have a positive community impact for low- to moderate-income communities in underserved geographies and markets. Starting with $15 million in 2006, VCC has originated $320 million in loans, leveraged an additional $446 million for total community impact of over $766 million, and created over 5,000 jobs. Additionally, over 75% of our lending and advisory services have been to projects that benefit a low income targeted population in Virginia. A comprehensive, third-party assessment of CDFIs provided by Aeris gives VCC strong ratings in both financial strength and social impact.
Areas of Service
Areas Served
Board Chair
Board Chair Dixon Hannah
Company Affiliation Retired Associate Provost, Virginia Tech
Term Jan 2017 to Dec 2018
Board of Directors
Board Members
Cathy Dolan Retired COO, Opportunity Finance Network
Robert H. Gilliam Jr.Retired Bank President and CEO
Dixon B. Hanna Retired Associate Provost, Virginia Tech
James W. Harkness Jr.Retired Bank President and CEO
Jane N. Henderson President and CEO, Virginia Community Capital
Florence G. Kingston Director for Department of Development, City of Newport News
Charlie H. Mills IIICEO, Salera Employee Benefits Solutions
Mary Dwyer Pembroke Director and Senior Counsel – Government Relations, Discover
William C. Shelton Director, Department of Housing and Community Development
Alvin W. Smuzynski Retired Executive Director, Wesley Housing Development Corp
Board Demographics - Ethnicity
African American/Black 2
Asian American/Pacific Islander 0
Caucasian 8
Hispanic/Latino 0
Native American/American Indian 0
Other 0 0
Board Demographics - Gender
Male 6
Female 4
Unspecified 0
Board Term Lengths 1
Written Board Selection Criteria? Yes
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100
Number of Full Board Meetings Annually 12
Other Boards
The tables below contain information about other groups that advise this nonprofit on operations and projects.
Executive Director
Executive Director Jane N. Henderson
Experience Since 2006, Jane has led VCC and our leverage of a $15 million state-backed investment to nearly $800 million in public and private investment in Virginia. Along the way, she has overseen the creation of jobs, vibrant communities, and an improvement in Virginians’ quality of life.

Early in Jane’s banking career, she was tasked with undertaking compliance with the Community Reinvestment Act for her employer. “I begrudgingly said yes,” she recalls. “Yet that decision began a journey that led me to community development banking, mission-related finance, and the ability to use my skills to positively impact communities. That ‘yes’ has created a fulfilling career.”

Jane is the former community development executive for Wachovia, where for 10 years she managed all aspects of community development operations, lending, and compliance for the corporation.

She lives in Goochland County, and splits her time between VCC’s offices in Richmond and Christiansburg. She enjoys hiking and riding horses.

Education, Licenses, and Honors

B.A., Business Administration, Gettysburg College
M.B.A, St. Joseph’s University
Board of Directors, Community Development Bankers Association
Board of Directors, Center for Rural Entrepreneurship
Appointed member, Commonwealth Council on Bridging the Nutritional Divide
VCU’s Real Estate Circle of Excellence
Appalachian Regional Commission’s Capital Advisory Group
Senior Staff
Costa Canavos VP Real Estate Lending
Clyde Cornett Chief Financial Officer
Pat Kietzman VP Administration
Teri Lovelace Esq.VP Corporate Development
Tim Mattox Data Manager
Robb Strader Chief Risk Officer
Wayne Waldrop Small Business Manager
Teresa Walker VP Savings Manager
Full Time Staff 54
Part Time Staff 3
Contractors 4
Organization has a Strategic Plan? Yes
Years Strategic Plan Considers 3
Date Strategic Plan Adopted Jan 2017
Organization Policy and Procedures Yes
Nondiscrimination Policy Yes
Whistleblower Policy Yes
Document Destruction Policy Yes
Description Over the past ten years, Virginia Community Capital has originated $320 million in loans to community development projects and programs throughout the Commonwealth. VCC possesses a full-scale community bank lending department with decades of experience in banking and finance. VCC specializes in complex transactions involving local, state, federal, and private incentives including Low-Income Housing Tax Credits, Historic Tax Credits, Virginia Small Business Financing Authority, USDA programs, New Market Tax Credit allocations.
Population Served Poor,Economically Disadvantaged,Indigent
Budget $3,500,000.00
Description VCC offers a variety of savings options and access to financial tools and resources.

VCC offers Advisory services to help small businesses, non-profits and government entities operate more effectively.  We focus on organizations that create jobs, develop affordable housing, provide access to critical services such as health care, promote asset building and support economic revitalization.

We also work to build the capacity of the industry by facilitating collaboration and promoting professional development.  Simply contact us to talk about what you are trying to accomplish – with your business, in your community, or for your neighborhood.

Fiscal Year
Projected Revenue $0.00
Projected Expenses $0.00
Form 990s
IRS Letter of Exemption
Detailed Financials
Revenue SourcesHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201520142013
Foundation and
Corporation Contributions
Government Contributions$2,282,189$1,234,007$880,692
Individual Contributions$187,841$944,430$704,582
Investment Income, Net of Losses--$31,081$30,881
Membership Dues------
Special Events------
Revenue In-Kind------
Expense Allocation
Fiscal Year201520142013
Program Expense$2,781,832$2,576,977$2,137,723
Administration Expense$1,072,729$805,010$751,269
Fundraising Expense$0----
Payments to Affiliates------
Total Revenue/Total Expenses1.151.211.34
Program Expense/Total Expenses72%76%74%
Fundraising Expense/Contributed Revenue0%0%0%
Assets and Liabilities
Fiscal Year201520142013
Total Assets$55,125,581$53,478,027$44,452,524
Current Assets$40,857,905$39,266,731$31,492,263
Long-Term Liabilities$28,291,818$27,361,198$20,184,998
Current Liabilities$2,673,935$2,732,554$741,837
Total Net Assets$24,159,828$23,384,275$22,273,939
Short Term Solvency
Fiscal Year201520142013
Current Ratio: Current Assets/Current Liabilities15.2814.3742.45
Long Term Solvency
Fiscal Year201520142013
Long-Term Liabilities/Total Assets51%51%45%
Capital Campaign
Currently in a Capital Campaign? No
State Charitable Solicitaions Permit
Solicitations Permit
Solicitations Permit Application Confirmation 12/2015View
Foundation Comments
  • IRS Form 990s represent solely the financial position of Virginia Community Capital, Inc.
  • Audited financial statements represent the combined financial position of Virginia Community Capital, Inc. and its subsidiary, Community Capital Bank of Virginia.
  • Equity in non-controlling interest recorded under "Current Liabilities" for financial charts.