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GENESEE VALLEY IMPROVEMENT CORPORATION
BELMONT, NY · EIN 222642706 · Form 990 · FY2024 · Small ($100K-$1M)
revenue
$268K
expenses
$322K
net assets
$41K
employees
0
program ratio
89%
mission · from form 990

GVIC'S PURPOSE IS TO OWN PROPERTY, COLLECT INCOME AND PROVIDE INCOME/ASSISTANCE TO ACCORD, IN ADDITION, PROVIDE LOW-INCOME HOUSING FOR QUALIFIED INDIVIDUALS AND FAMILIES AS WELL AS RENT PROGRAM OFFICE SPACE AT COST TO ACCORD SERVICE PROGRAMS.

profile · synthesized from sources

Genesee Valley Improvement Corporation (GVIC) is a nonprofit organization based in Belmont, NY, focused on owning property and generating income to support its mission. It provides low-income housing for qualified individuals and families and offers affordable office space to Accord Service Programs. GVIC also channels income and assistance to Accord, suggesting a close operational or financial relationship with that entity.

named programs · 2 · from sources

What they call their work

Low-Income Housing Program
Provides affordable housing to qualified low-income individuals and families in the Genesee Valley region.
Office Space Rental Program
Rents program office space at cost to Accord Service Programs, supporting their operations through subsidized accommodations.
activities · 3 groups

What they do

  • Nonprofit Real Estate Holding 1 activity
    • Owns property to generate financial support for ACCORD
      Acquires and manages real estate assets, using rental income to financially sustain ACCORD's programs and operations.
  • Affordable Housing Development and Management 1 activity
    • Provides low-income housing
      Offers affordable housing units to qualified individuals and families in need, operating as a core component of its community development mission.
  • Community Space Provision 1 activity
    • Rents program office space to ACCORD service programs
      Leases office space at cost to ACCORD service programs, supporting affiliated operations through subsidized accommodations.
financials · form 990 · fy2024
revenue
Total revenue$268K
Contributions & grants$3K1%
Program service revenue$263K98%
Investment income$290%
Other revenue$2K
expenses
Total expenses$322K
Program expenses89%
Admin / overhead11%
Fundraising0%
Salaries & benefits$0
Grants paid out$50K
Largest expense lineFacilities
balance sheet
Total assets$525K
Cash$115K
Investments$0
Liabilities$484K
Net assets$41K
Liquid reserves4.3 mo
5 years on record · 2020–2024 · YoY revenue -11.9%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 2
NameTitleHours/wkCompensation
LESLEY CHRISTMAN EXECUTIVE DIRECTOR 1 $142K
LORRAINE HARMON C.F.O. 1 $98K
board members · 4
  • JOSEPH DAMIANO — VICE CHAIRPERSON
  • KELLY DICKERSON — PRESIDENT
  • MICHAEL MILLER — SECRETARY/TREASURER
  • NICK DAVIS — DIRECTOR
relationships · 1

Who they work with

  • ACCORD Partner — Receives income/assistance and rents program office space at cost from GVIC.
strategies · 1

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Asset-Based Support Model
    methodology: asset_based_support
    By owning and managing property to generate rental income, we sustainably fund low-income housing and support service programs, because stable revenue from real estate assets enables long-term programmatic investment and reduces reliance on external funding.