Civic Intelligence

Virginia'S Gateway Region Corp T/A Virginia'S Gateway Region

990 • Fiscal year 2014 • EIN 20-0434079

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 06, 2015

256 East Ellerslie Avenue No D23834

(804) 732-8971

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$2,544,722

Down $172,695 (-6.4%) from 2013

Net Assets

Down

$2,414,096

Down $105,860 (-4.2%) from 2013

Liabilities

Down

$130,626

Down $66,835 (-34%) from 2013

Revenue And Expenses

Revenue

$584,670

No earlier filing loaded for comparison.

Expenses

Down

$690,531

Down $56,525 (-7.6%) from 2013

Net Income

-$105,861

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $2,468,887Liabilities 2011: $122,863Net Assets 2011: $2,346,0242011Assets 2012: $2,786,281Liabilities 2012: $145,058Net Assets 2012: $2,641,2232012Assets 2013: $2,717,417Liabilities 2013: $197,461Net Assets 2013: $2,519,9562013Assets 2014: $2,544,722Liabilities 2014: $130,626Net Assets 2014: $2,414,0962014Assets 2015: $2,525,770Liabilities 2015: $142,087Net Assets 2015: $2,383,6832015Assets 2016: $2,697,679Liabilities 2016: $156,875Net Assets 2016: $2,540,8042016Assets 2017: $3,394,211Liabilities 2017: $164,671Net Assets 2017: $3,229,5402017Assets 2018: $3,157,393Liabilities 2018: $50,297Net Assets 2018: $3,107,0962018Assets 2019: $3,159,392Liabilities 2019: $106,836Net Assets 2019: $3,052,5562019Assets 2020: $2,952,675Liabilities 2020: $215,423Net Assets 2020: $2,737,2522020Assets 2021: $2,668,915Liabilities 2021: $179,730Net Assets 2021: $2,489,1852021Assets 2022: $3,270,811Liabilities 2022: $359,793Net Assets 2022: $2,911,0182022Assets 2023: $2,798,411Liabilities 2023: $238,386Net Assets 2023: $2,560,0252023Assets 2024: $2,442,830Liabilities 2024: $137,922Net Assets 2024: $2,304,9082024Assets 2025: $2,188,928Liabilities 2025: $167,111Net Assets 2025: $2,021,8172025

Highlighted filing

2014

Assets$2,544,722
Liabilities$130,626
Net Assets$2,414,096

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2011: $1,227,860Expenses 2011: $888,206Net Income 2011: $339,6542011Expenses 2012: $661,6132012Expenses 2013: $747,0562013Revenue 2014: $584,670Expenses 2014: $690,531Net Income 2014: -$105,8612014Revenue 2015: $645,268Expenses 2015: $675,185Net Income 2015: -$29,9172015Revenue 2016: $1,000,172Expenses 2016: $837,651Net Income 2016: $162,5212016Revenue 2017: $1,458,263Expenses 2017: $769,527Net Income 2017: $688,7362017Revenue 2018: $538,106Expenses 2018: $660,550Net Income 2018: -$122,4442018Revenue 2019: $771,682Expenses 2019: $826,222Net Income 2019: -$54,5402019Revenue 2020: $853,936Expenses 2020: $1,169,240Net Income 2020: -$315,3042020Revenue 2021: $786,648Expenses 2021: $1,034,715Net Income 2021: -$248,0672021Revenue 2022: $1,733,920Expenses 2022: $1,262,587Net Income 2022: $471,3332022Revenue 2023: $1,585,034Expenses 2023: $1,936,027Net Income 2023: -$350,9932023Revenue 2024: $1,218,935Expenses 2024: $1,458,977Net Income 2024: -$240,0422024Revenue 2025: $918,090Expenses 2025: $1,162,594Net Income 2025: -$244,5042025

Highlighted filing

2014

Revenue$584,670
Expenses$690,531
Net Income-$105,861
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 6, 2015
Return Version
2013v4.0
Gross Receipts
$584,670
Mission and Program Overview

Mission

The organization exists to enhance the economic development opportunities for the cities of colonial heights, hopewell and petersburg, and the counties of chesterfield, dinwiddie, prince george, surry and sussex.

To enhance the economic development opportunities for the gateway region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,973,107$2,056,228▲ $83,121
Pledges and Grants Receivable$704,655$443,548▼ $261,107
Prepaid Expenses and Deferred Charges$9,383$24,613▲ $15,230
Land, Buildings, and Equipment, Net$26,921$18,087▼ $8,834
Accounts Receivable$1,164$58▼ $1,106
Total Assets$2,717,418$2,544,722▼ $172,696
Other Assets Total$2,188$2,188→ $0
Liabilities
Accounts Payable and Accrued Expenses$124,209$68,646▼ $55,563
Other Liabilities$73,252$61,980▼ $11,272
Total Liabilities$197,461$130,626▼ $66,835
Net Assets / Fund Balance
Unrestricted Net Assets$2,511,392$2,353,531▼ $157,861
Temporarily Rstr Net Assets$8,565$60,565▲ $52,000
Total Net Assets Fund Balance$2,519,957$2,414,096▼ $105,861
Total Liabilities and Net Assets / Fund Balance$2,717,418$2,544,722▼ $172,696

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,225$94,310$99,535
Other Land Buildings$12,862$9,187$22,049
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Renee Wyatt-chaplineExecutive DirectorFT$154,459$154,459

Highest Paid Contractors

ContractorServicesLocationCompensation
Crater Planning District CommissionCooperative Agreement For Staff Services-$447,531
Revenue and Support

Revenue Composition

Contributions and Grants
$581,767
Program Service Revenue
$0
Investment Income
$2,903
Other Revenue
$0
All Other Contributions
$277,741
Change in Net Assets
$-105,861

Audited Revenue Reconciliation

Revenue per Audited Statements
$584,670
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$584,670
Total Revenue per Form 990
$584,670
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$690,531
Total Fundraising Expense$39,641
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$48,363--$48,363
Fees for Services Accounting$26,605$3,054$2,316$31,975
All Other Expenses$23,643$2,011$1,525$27,179
Occupancy$17,480$2,007$1,521$21,008
Travel$13,950--$13,950
Depreciation Depletion$9,845$1,130$856$11,831
Other Expenses$7,705$884$671$9,260
Conferences and Meetings$5,652--$5,652
Insurance$3,949$453$344$4,746
Total Functional Expenses$598,606$52,284$39,641$690,531

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$690,531
Total Expenses per Audited Statements$690,531
Total Expenses per Form 990$690,531
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$61,980
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
Yes
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization, under contractual agreement, is provided personnel necessary to carry out its exempt purpose by the crater planning district commission which is a local governmental subdivision in the commonwealth of virginia.

Form 990, Part VI, Section A, Line 4

Change to articles of incorporation: the number of directors constituting the board of directors shall be two times the number of participating political subdivisions in the area, plus nine additional directors from the vgr business council in the area. The directors will come from the governing bodies which choose to participate in the activities, operations and support of the corporation in accordance with the requirements for such participation as may from time to time be determined by the board of directors ("participating jurisdictions"). Prior to january 31st of each year, each such governing body shall appoint two persons to serve on the board of directors, one of whom shall be a member of the governing body of that political subdivision other of whom shall be actively affiliated with a business located in said political subdivision. Changes to by laws: the board of directors of vgr may, at any time, by majority vote of all of the board of directors, elect to add advisory participants from fort lee and/or the defense supply center richmond. The officers of vgr shall consist of a chairman, a vice chairman, a secretary, a treasurer, and an immediate past chairman, all of whom shall be directors. (officer name change from president and vice president)

Form 990, Part VI, Section B, Line 11

Form 990 is submitted to the organization and reviewed by the executive committee of the board.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

EIN
20-0434079
Phone
8047328971

Signing Officer

Name
C Renee Wyatt-chapline
Title
Executive-director
Phone
8047328971
Signed
2015-02-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
C Renee Wyatt-chapline
Formed
2003
Legal Domicile
Va
Voting Board Members
25
Independent Board Members
25
Employees
0
Volunteers
25

Preparer

Preparer
Thomas a Puryear Jr CPA
Phone
8047335566
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 2C

The process has not changed from the prior year

Form 990, Part I, Line 6

The members of the governing board are all volunteers, and comprise the only volunteers to the organization.

Financial Statement Notes

PART X, LINE 2:

The organization is exempt from income taxes under section 501(c)(3) of the internal revenue code, thereby making all contributions deductible under the internal revenue code section 170(b)(1)(a)(vi). The organization follows generally accepted accounting principles regarding accounting for uncertain tax positions. This accounting standard provides detailed guidance for financial statement recognition, measurement, and disclosure of uncertain tax positions recognized in the organizations financial statements. It requires an entity to recognize the financial statement impact of a tax position when it is more likely than not that the position will not be sustained upon examination. The tax years of 2011 to 2013 remain subject to examination by taxing authorities. The organization includes penalties and interest assessed by income taxing authorities in operating expenses. No penalties or interest were incurred for the years ended june 30, 2014 and 2013.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt220
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt230
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt240
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt250
IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02003
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt025
IRS990/GovernmentGrantsAmt0304026
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0584670
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt025
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/FundraisingAmt0344
IRS990/InsuranceGrp/ManagementAndGeneralAmt0453
IRS990/InsuranceGrp/ProgramServicesAmt03949
IRS990/InsuranceGrp/TotalAmt04746
IRS990/InvestmentIncomeGrp/ExclusionAmt02903
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02903
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0103497
IRS990/LandBldgEquipBasisNetGrp/BOYAmt026921
IRS990/LandBldgEquipBasisNetGrp/EOYAmt018087
IRS990/LandBldgEquipCostOrOtherBssAmt0121584
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE ORGANIZATION EXISTS TO ENHANCE THE ECONOMIC DEVELOPMENT OPPORTUNITIES FOR THE CITIES OF COLONIAL HEIGHTS, HOPEWELL AND PETERSBURG, AND THE COUNTIES OF CHESTERFIELD, DINWIDDIE, PRINCE GEORGE, SURRY AND SUSSEX.
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IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt02519957
IRS990/NetAssetsOrFundBalancesEOYAmt02414096
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
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IRS990/OccupancyGrp/ManagementAndGeneralAmt02007
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0COOPERATIVE AGREEMENT
IRS990/OtherExpensesGrp/Desc1BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/Desc2PRINTING AND REPRODUCTI
IRS990/OtherExpensesGrp/Desc3SUPPLIES
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IRS990/OtherExpensesGrp/FundraisingAmt1671
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt042745
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1884
IRS990/OtherExpensesGrp/ProgramServicesAmt0372378
IRS990/OtherExpensesGrp/ProgramServicesAmt158000
IRS990/OtherExpensesGrp/ProgramServicesAmt211036
IRS990/OtherExpensesGrp/ProgramServicesAmt37705
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IRS990/OtherExpensesGrp/TotalAmt158000
IRS990/OtherExpensesGrp/TotalAmt211036
IRS990/OtherExpensesGrp/TotalAmt39260
IRS990/OtherLiabilitiesGrp/BOYAmt073252
IRS990/OtherLiabilitiesGrp/EOYAmt061980
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IRS990/PoliticalCampaignActyInd00
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0625789
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0951998
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01218311
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0776571
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02903
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt03468
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt05456
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt09549
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt08813
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt030189
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.78880
IRS990ScheduleA/PublicSupportPY170Pct00.68940
IRS990ScheduleA/PublicSupportTotal170Amt03286437
IRS990ScheduleA/SubstantialContributorsTotAmt0849531

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.19$0.17$2.02$0.92$1.16$0.24
2024Detailed filing. Detailed filing data is available for this year.$2.44$0.14$2.30$1.22$1.46$0.24
2023Detailed filing. Detailed filing data is available for this year.$2.80$0.24$2.56$1.59$1.94$0.35
2022Detailed filing. Detailed filing data is available for this year.$3.27$0.36$2.91$1.73$1.26$0.47
2021Detailed filing. Detailed filing data is available for this year.$2.67$0.18$2.49$0.79$1.03$0.25
2020Detailed filing. Detailed filing data is available for this year.$2.95$0.22$2.74$0.85$1.17$0.32
2019Detailed filing. Detailed filing data is available for this year.$3.16$0.11$3.05$0.77$0.83$0.05
2018Detailed filing. Detailed filing data is available for this year.$3.16$0.05$3.11$0.54$0.66$0.12
2017Detailed filing. Detailed filing data is available for this year.$3.39$0.16$3.23$1.46$0.77$0.69
2016Detailed filing. Detailed filing data is available for this year.$2.70$0.16$2.54$1.00$0.84$0.16
2015Detailed filing. Detailed filing data is available for this year.$2.53$0.14$2.38$0.65$0.68$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.54$0.13$2.41$0.58$0.69$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.72$0.20$2.52$0.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.79$0.15$2.64$0.66
2011Summary only. Only limited summary data is available for this year.$2.47$0.12$2.35$1.23$0.89$0.34