Civic Intelligence

Norfolk Tourism Research Foundation Inc

EIN 13-4246826 • 501(c)3 • Norfolk, VA

Profile

To provide research and public awareness in support of the hospitality industry in the city of norfolk, virginia; its primary mission is to support a robust city-wide tourism industry through research, workforce development, customer service, training and education.

232 E Main StreetNorfolk, VA 23510-1711

www.visitnorfolk.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

91st percentile

0.74x

Higher debt load relative to assets than 91% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

3.07x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

19th percentile

-31%

Higher net margin than 19% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

93rd percentile

124%

Faster asset growth than 93% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

34th percentile

-19%

Faster revenue growth than 34% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$156,392

Up $86,589 (+124%) from 2023

Liabilities

Up

$115,000

Up $98,350 (+591%) from 2023

Net Assets

$41,392

No earlier filing loaded for comparison.

Revenue

Down

$37,400

Down $8,805 (-19%) from 2023

Expenses

Down

$49,161

Down $26,107 (-35%) from 2023

Net Income

Up

-$11,761

Up $17,302 (+60%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300K$200K$100K$0Assets 2010: $95,272Liabilities 2010: $24,217Net Assets 2010: $71,0552010Assets 2011: $124,434Liabilities 2011: $59,428Net Assets 2011: $65,0062011Assets 2012: $96,584Liabilities 2012: $33,423Net Assets 2012: $63,1612012Assets 2013: $113,610Liabilities 2013: $39,386Net Assets 2013: $74,2242013Assets 2014: $192,319Liabilities 2014: $12,3072014Assets 2015: $218,787Liabilities 2015: $18,3522015Assets 2016: $276,861Liabilities 2016: $10,050Net Assets 2016: $266,8112016Assets 2017: $258,475Liabilities 2017: $3,462Net Assets 2017: $255,0132017Assets 2018: $210,869Liabilities 2018: $14,9252018Assets 2019: $140,569Liabilities 2019: $11,4132019Assets 2020: $124,054Liabilities 2020: $17,158Net Assets 2020: $106,8962020Assets 2021: $138,211Liabilities 2021: $26,878Net Assets 2021: $111,3332021Assets 2022: $120,168Liabilities 2022: $37,952Net Assets 2022: $82,2162022Assets 2023: $69,803Liabilities 2023: $16,6502023Assets 2024: $156,392Liabilities 2024: $115,000Net Assets 2024: $41,3922024

Highlighted filing

2024

Assets$156,392
Liabilities$115,000
Net Assets$41,392

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$150K$100K$50K$0-$50K-$100KRevenue 2010: $62,140Expenses 2010: $39,583Net Income 2010: $22,5572010Revenue 2011: $55,569Expenses 2011: $61,618Net Income 2011: -$6,0492011Revenue 2012: $60,828Expenses 2012: $62,673Net Income 2012: -$1,8452012Revenue 2013: $62,538Expenses 2013: $51,475Net Income 2013: $11,0632013Revenue 2014: $45,724Expenses 2014: $5,771Net Income 2014: $39,9532014Revenue 2015: $58,103Expenses 2015: $37,680Net Income 2015: $20,4232015Revenue 2016: $106,885Expenses 2016: $40,509Net Income 2016: $66,3762016Revenue 2017: $59,508Expenses 2017: $71,306Net Income 2017: -$11,7982017Revenue 2018: $54,203Expenses 2018: $113,272Net Income 2018: -$59,0692018Revenue 2019: $43,888Expenses 2019: $110,676Net Income 2019: -$66,7882019Revenue 2020: $20,704Expenses 2020: $42,964Net Income 2020: -$22,2602020Revenue 2021: $30,425Expenses 2021: $25,988Net Income 2021: $4,4372021Revenue 2022: $42,308Expenses 2022: $71,425Net Income 2022: -$29,1172022Revenue 2023: $46,205Expenses 2023: $75,268Net Income 2023: -$29,0632023Revenue 2024: $37,400Expenses 2024: $49,161Net Income 2024: -$11,7612024

Highlighted filing

2024

Revenue$37,400
Expenses$49,161
Net Income-$11,761

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.56$1.15$0.41$0.37$0.49$0.12
2023Summary only. Only limited summary data is available for this year.$0.70$0.17$0.46$0.75$0.29
2022Detailed filing. Detailed filing data is available for this year.$1.20$0.38$0.82$0.42$0.71$0.29
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.38$0.27$1.11$0.30$0.26$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.24$0.17$1.07$0.21$0.43$0.22
2019Summary only. Only limited summary data is available for this year.$1.41$0.11$0.44$1.11$0.67
2018Summary only. Only limited summary data is available for this year.$2.11$0.15$0.54$1.13$0.59
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.58$0.03$2.55$0.60$0.71$0.12
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.77$0.10$2.67$1.07$0.41$0.66
2015Summary only. Only limited summary data is available for this year.$2.19$0.18$0.58$0.38$0.20
2014Summary only. Only limited summary data is available for this year.$1.92$0.12$0.46$0.06$0.40
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.39$0.74$0.63$0.51$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$0.33$0.63$0.61$0.63$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.24$0.59$0.65$0.56$0.62$0.06
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.24$0.71$0.62$0.40$0.23
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 19, 2023
Return Version
2022v5.0
Gross Receipts
$69,605
Mission and Program Overview

Mission

To provide research and public awareness in support of the hospitality industry in the city of norfolk, virginia; its primary mission is to gather and disseminate research related to tourism in norfolk, virginia and the southeast virginia region.

To provide research and public awareness in support of the hospitality industry in the city of norfolk, virginia; its primary mission is to support a robust city-wide tourism industry through research, workforce development, customer service, training and education.

Program Services

DescriptionGrantsExpenses
TO PROVIDE RESEARCH AND PUBLIC AWARENESS IN SUPPORT OF THE HOSPITALITY INDUSTRY IN THE CITY OF NORFOLK, VIRGINIA; ITS PRIMARY MISSION IS TO SUPPORT A ROBUST CITY-WIDE TOURISM INDUSTRY THROUGH RESEARCH, WORKFORCE DEVELOPMENT, CUSTOMER SERVICE, TRAINING AND EDUCATION.$19,969$50,607
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
JOLENE PRICE THOMPSONChair-$0--
ANDREA BEARVice Chair-$0--
PATRICIA RAWLSTreasurer-$0--
KURT KRAUSESecretary-$0--
JACK ANKERSONChair Emerit-$0--
JACK KAVANAUGHPast Chair-$0--
RAFAELLE ALLENMember-$0--
BARBARA BLAKE GONZALEZMember-$0--
JUDY BOONEMember-$0--
OMAR BOUKHRISSMember-$0--
JIM CARROLLMember-$0--
NICOLE CARRYMember-$0--
CHRIS CONWAYMember-$0--
PHILLIP DECKERMember-$0--
NEALY GIHANMember-$0--
MATHEAU HALLMember-$0--
ROY MARTIN IVMember-$0--
KISHA MOOREMember-$0--
KEVIN OCONNORMember-$0--
TERRI RUBYMember-$0--
KARLA SMITHMember-$0--
BRUCE WATTSMember-$0--
JAMES WOFFORDMember-$0--
Fundraising, Events, and Gaming

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$52,175$52,175$27,297$24,878
Total Events$52,175$52,175$27,297$24,878
Filing and Contact Details

Filer

Filer Name
Norfolk Tourism Foundation Inc
EIN
13-4246826
Phone
7576646620
Address
232 E MAIN STREET, NORFOLK, VA 23510-1711

Signing Officer

Name
Kurt Krause
Title
Secretary
Phone
7576646620
Signed
2023-07-19
Discuss with paid preparer
Yes

Preparer

Firm
Corbin & Company Pc
Address
501 INDEPENDENCE PARKWAY STE 275, CHESAPEAKE, VA 23320
Preparer
Kevin M Allison CPA
Phone
7574364577
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 10

Name: the crop foundation address: 759 granby street norfolk, va 23510 cash contribution: 7,600 name: norfolk fest events address: 120 west main st norfolk, va 23510 cash contribution: 10,000

Form 990-ez, Part I, Line 16

Expenses marketing and advertising 3,747 office expenses 6,317 insurance 507 bank fees 153 business meetings 2,602 contracted labor 29,437 dues and subscriptions 1,352 national tourism week 2,796 postage 27 training 2,918 total 49,856

Form 990-ez, Part II, Line 24

Accounts receivable 7,724 34 prepaid expenses and deferred charges 1,285 267 total 9,009 301

Form 990-ez, Part II, Line 26

Accounts payable and accrued expenses 22,028 37,952 deferred revenue 4,850 0

Form 990-ez, Part III

To provide research and public awareness in support of the hospitality industry in the city of norfolk, virginia; its primary mission is to support a robust city-wide tourism industry through research, workforce development, customer service, training and education.

Form 990-ez, Part III, Line 28

To provide research and public awareness in support of the hospitality industry in the city of norfolk, virginia; its primary mission is to support a robust city-wide tourism industry through research, workforce development, customer service, training and education.

Raw XML Appendix272 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/PublicSupportCY509Pct00.84340
IRS990ScheduleA/PublicSupportPY509Pct00.79630
IRS990ScheduleA/PublicSupportTotal509Amt0245890
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt03860
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt02100
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt04800
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt09035
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt021150
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt040945
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt069424
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt045128
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt037676
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt058809
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt075798
IRS990ScheduleA/Total509Grp/TotalAmt0286835
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt069605
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt045235
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt038268
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt060734
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt077691
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0291533
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt027297
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF TOURNAMENT
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt052175
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt052175
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt052175
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt052175
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt024878
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt027297
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt027297
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NAME: THE CROP FOUNDATION ADDRESS: 759 GRANBY STREET NORFOLK, VA 23510 CASH CONTRIBUTION: 7,600 NAME: NORFOLK FEST EVENTS ADDRESS: 120 WEST MAIN ST NORFOLK, VA 23510 CASH CONTRIBUTION: 10,000
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXPENSES MARKETING AND ADVERTISING 3,747 OFFICE EXPENSES 6,317 INSURANCE 507 BANK FEES 153 BUSINESS MEETINGS 2,602 CONTRACTED LABOR 29,437 DUES AND SUBSCRIPTIONS 1,352 NATIONAL TOURISM WEEK 2,796 POSTAGE 27 TRAINING 2,918 TOTAL 49,856
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ACCOUNTS RECEIVABLE 7,724 34 PREPAID EXPENSES AND DEFERRED CHARGES 1,285 267 TOTAL 9,009 301
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACCOUNTS PAYABLE AND ACCRUED EXPENSES 22,028 37,952 DEFERRED REVENUE 4,850 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TO PROVIDE RESEARCH AND PUBLIC AWARENESS IN SUPPORT OF THE HOSPITALITY INDUSTRY IN THE CITY OF NORFOLK, VIRGINIA; ITS PRIMARY MISSION IS TO SUPPORT A ROBUST CITY-WIDE TOURISM INDUSTRY THROUGH RESEARCH, WORKFORCE DEVELOPMENT, CUSTOMER SERVICE, TRAINING AND EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5TO PROVIDE RESEARCH AND PUBLIC AWARENESS IN SUPPORT OF THE HOSPITALITY INDUSTRY IN THE CITY OF NORFOLK, VIRGINIA; ITS PRIMARY MISSION IS TO SUPPORT A ROBUST CITY-WIDE TOURISM INDUSTRY THROUGH RESEARCH, WORKFORCE DEVELOPMENT, CUSTOMER SERVICE, TRAINING AND EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 10
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART II, LINE 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART II, LINE 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990-EZ, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990-EZ, PART III, LINE 28
ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0KURT KRAUSE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum07576646620
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-07-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NORFOLK TOURISM FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0NORF
ReturnHeader/Filer/EIN0134246826
ReturnHeader/Filer/PhoneNum07576646620
ReturnHeader/Filer/USAddress/AddressLine1Txt0232 E MAIN STREET
ReturnHeader/Filer/USAddress/CityNm0NORFOLK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd0235101711
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541571464
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CORBIN & COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0501 INDEPENDENCE PARKWAY STE 275
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHESAPEAKE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023320
ReturnHeader/PreparerPersonGrp/PhoneNum07574364577
ReturnHeader/PreparerPersonGrp/PreparationDt02023-07-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KEVIN M ALLISON CPA
ReturnHeader/ReturnTs02023-08-30T15:14:10-04:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KURT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KRAUSE
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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