Civic Intelligence

Virginia Industry Foundation Inc

EIN 20-5582985 • 501(c)3 • Richmond, VA

Profile

To provide scientific educational information, compose. Publish, and disseminate information and standards designed to advance industry and specific education, recognize industrial, scientific, educational, workplace and environmental achievements, support technology.

2112 West Laburnum Avenue Ste 205Richmond, VA 23227

www.vamanufacturers.com

Siviq Scores

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

Liabilities / Assets

91st percentile

0.73x

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

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

Liabilities / Revenue

95th percentile

0.95x

Higher debt load relative to revenue than 95% of similar nonprofits.

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

Net Margin

92nd percentile

61%

Higher net margin than 92% of similar nonprofits.

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

Top Officer Pay

99th percentile

$303,916

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 750.8% of source-year revenue.

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

Asset Growth

98th percentile

487%

Faster asset growth than 98% of similar nonprofits.

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

Revenue Growth

97th percentile

375%

Faster revenue growth than 97% of similar nonprofits.

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

Assets

Up

$53,037

Up $44,001 (+487%) from 2023

Liabilities

Up

$38,571

Up $29,991 (+350%) from 2023

Net Assets

Up

$14,466

Up $14,010 (+3072%) from 2023

Revenue

Up

$40,479

Up $31,963 (+375%) from 2023

Expenses

Down

$15,751

Down $3,017 (-16%) from 2023

Net Income

Up

$24,728

Up $34,980 (+341%) from 2023

Trend Graphs

Balance Sheet Trend

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

$80K$60K$40K$20K$0Assets 2010: $64,642Liabilities 2010: $22,483Net Assets 2010: $42,1592010Assets 2011: $5,146Liabilities 2011: $0Net Assets 2011: $5,1462011Assets 2012: $7,324Liabilities 2012: $0Net Assets 2012: $7,3242012Assets 2013: $15,201Liabilities 2013: $0Net Assets 2013: $15,2012013Assets 2014: $16,247Liabilities 2014: $0Net Assets 2014: $16,2472014Assets 2015: $66,193Liabilities 2015: $0Net Assets 2015: $66,1932015Assets 2016: $21,114Liabilities 2016: $0Net Assets 2016: $21,1142016Assets 2017: $59,406Liabilities 2017: $0Net Assets 2017: $59,4062017Assets 2018: $48,280Liabilities 2018: $8,580Net Assets 2018: $39,7002018Assets 2019: $52,694Liabilities 2019: $9,580Net Assets 2019: $43,1142019Assets 2020: $47,763Liabilities 2020: $9,080Net Assets 2020: $38,6832020Assets 2021: $60,340Liabilities 2021: $8,580Net Assets 2021: $51,7602021Assets 2022: $27,264Liabilities 2022: $8,580Net Assets 2022: $18,6842022Assets 2023: $9,036Liabilities 2023: $8,580Net Assets 2023: $4562023Assets 2024: $53,037Liabilities 2024: $38,571Net Assets 2024: $14,4662024

Highlighted filing

2024

Assets$53,037
Liabilities$38,571
Net Assets$14,466

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2010: $409,0012010Expenses 2011: $207,4002011Revenue 2012: $13,003Expenses 2012: $10,825Net Income 2012: $2,1782012Revenue 2013: $125,020Expenses 2013: $117,143Net Income 2013: $7,8772013Revenue 2014: $60,563Expenses 2014: $59,517Net Income 2014: $1,0462014Revenue 2015: $53,733Expenses 2015: $3,787Net Income 2015: $49,9462015Revenue 2016: $34,735Expenses 2016: $79,814Net Income 2016: -$45,0792016Revenue 2017: $119,390Expenses 2017: $81,098Net Income 2017: $38,2922017Revenue 2018: $53,029Expenses 2018: $72,735Net Income 2018: -$19,7062018Revenue 2019: $52,460Expenses 2019: $49,046Net Income 2019: $3,4142019Revenue 2020: $5,558Expenses 2020: $5,708Net Income 2020: -$1502020Revenue 2021: $110,009Expenses 2021: $60,104Net Income 2021: $49,9052021Revenue 2022: $6,281Expenses 2022: $40,548Net Income 2022: -$34,2672022Revenue 2023: $8,516Expenses 2023: $18,768Net Income 2023: -$10,2522023Revenue 2024: $40,479Expenses 2024: $15,751Net Income 2024: $24,7282024

Highlighted filing

2024

Revenue$40,479
Expenses$15,751
Net Income$24,728

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.53$0.39$0.14$0.40$0.16$0.25
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.09$0.09$0.00$0.09$0.19$0.10
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.27$0.09$0.19$0.06$0.41$0.34
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.60$0.09$0.52$1.10$0.60$0.50
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.09$0.39$0.06$0.06$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.53$0.10$0.43$0.52$0.49$0.03
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.09$0.40$0.53$0.73$0.20
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.59$0.00$0.59$1.19$0.81$0.38
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.21$0.00$0.21$0.35$0.80$0.45
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.00$0.66$0.54$0.04$0.50
2014Detailed filing. Detailed filing data is available for this year.$0.16$0.00$0.16$0.61$0.60$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$1.25$1.17$0.08
2012Summary only. Only limited summary data is available for this year.$0.07$0.00$0.07$0.13$0.11$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.00$0.05$2.07
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.22$0.42$4.09
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 20, 2025
Return Version
2024v5.0
Gross Receipts
$40,479
Mission and Program Overview

Mission

To provide scientific educational information, compose. Publish, and disseminate information and standards designed to advance industry and specific education, recognize industrial, scientific, educational, workplace and environmental achievements, support technology.

To provide scientific educational information, compose, publish, and disseminate information and standards designed to advance industry and specific education, recognize industrial, scientific, educational, workplace and environmental achievements, support technology, intensive industry research and development and serve as a central scientific, educational, and charitable resource for industry and the public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$9,036$53,037▲ $44,001
Total Assets$9,036$53,037▲ $44,001
Liabilities
Other Liabilities$8,580$38,571▲ $29,991
Total Liabilities$8,580$38,571▲ $29,991
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$456$14,466▲ $14,010
Total Net Assets Fund Balance$456$14,466▲ $14,010
Total Liabilities and Net Assets / Fund Balance$9,036$53,037▲ $44,001
Compensation and Service Providers

Board Members and Trustees

NameTitle
Brett VasseyPresident
Caryn Foster DurhamBoard Member
Russell MaitBoard Member
Tanya CookBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$40,349
Program Service Revenue
$0
Investment Income
$130
Other Revenue
$0
All Other Contributions
$40,349
Change in Net Assets
$24,728
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,751
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$9,188--$9,188
Fees for Services Accounting$1,645--$1,645
Advertising$1,500--$1,500
Office Expenses$1,169--$1,169
Insurance$681--$681
Information Technology$640--$640
Fees for Services Legal$525--$525
Travel$403--$403
Total Functional Expenses$15,751$0$0$15,751
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
Due to Affiliate$27,196
Scholarship Fund$11,375
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

A copy of form 990 is provided and reviewed by the organizations governing body before it is filed.

Form 990, Page 6, Part VI, Line 12C

The board members are required to sign a statement each year acknowledging that they understand and agree to abide by the conflicts of interest policy. In the event that a board member has a potential conflict of interest during the year, such board member shall recuse himself/herself from all discussion or votes on the matter

Form 990, Page 6, Part VI, Line 15A

The foundation has no employees. Instead all individuals performing services for the foundation are employed by virginia manufacturers association (vma), a related tax-exempt organization. Compensation of vma executives is approved by the full board in the budget approval process each year.

Form 990, Page 6, Part VI, Line 15B

The foundation has no employees. Instead all individuals performing services for the foundation are employed by virginia manufacturers association (vma), a related tax-exempt organization. Compensation of vma executives is approved by the full board in the budget approval process each year.

Form 990, Page 6, Part VI, Line 19

The organizations governing documents, conflicts of interest policy and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Virginia Industry Foundation Inc
EIN
20-5582985
Phone
8046437489
Address
2112 WEST LABURNUM AVENUE STE 205, RICHMOND, VA 23227

Signing Officer

Name
Brett Vassey
Title
President
Phone
8047091321
Signed
2025-08-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brett Vassey
Formed
2007
Legal Domicile
Va
Voting Board Members
4
Independent Board Members
0
Employees
0

Preparer

Firm
Littlewood & Associates Cpas Pllc
Address
4600 ECOFF AVENUE SUITE 102, CHESTER, VA 23831-1712
Preparer
Stephen W Littlewood
Phone
8044540563
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To provide scientific educational information, compose, publish, and disseminate information and standards designed to advance industry and specific education, recognize industrial, scientific, educational, workplace and environmental achievements, support technology, intensive industry research and development and serve as a central scientific, educational, and charitable resource for industry and the public.

Form 990, Part XI, Line 9

Change in restricted funds -10,718

Raw XML Appendix351 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.

Path#Value
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IRS990/ForeignFinancialAccountInd0false
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt023000
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
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IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
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IRS990/FormationYr02007
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt04
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE SCIENTIFIC EDUCATIONAL INFORMATION, COMPOSE, PUBLISH, AND DISSEMINATE INFORMATION AND STANDARDS DESIGNED TO ADVANCE INDUSTRY AND SPECIFIC EDUCATION, RECOGNIZE INDUSTRIAL, SCIENTIFIC, EDUCATIONAL, WORKPLACE AND ENVIRONMENTAL ACHIEVEMENTS, SUPPORT TECHNOLOGY, INTENSIVE INDUSTRY RESEARCH AND DEVELOPMENT AND SERVE AS A CENTRAL SCIENTIFIC, EDUCATIONAL, AND CHARITABLE RESOURCE FOR INDUSTRY AND THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF FORM 990 IS PROVIDED AND REVIEWED BY THE ORGANIZATIONS GOVERNING BODY BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEMBERS ARE REQUIRED TO SIGN A STATEMENT EACH YEAR ACKNOWLEDGING THAT THEY UNDERSTAND AND AGREE TO ABIDE BY THE CONFLICTS OF INTEREST POLICY. IN THE EVENT THAT A BOARD MEMBER HAS A POTENTIAL CONFLICT OF INTEREST DURING THE YEAR, SUCH BOARD MEMBER SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSION OR VOTES ON THE MATTER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION HAS NO EMPLOYEES. INSTEAD ALL INDIVIDUALS PERFORMING SERVICES FOR THE FOUNDATION ARE EMPLOYED BY VIRGINIA MANUFACTURERS ASSOCIATION (VMA), A RELATED TAX-EXEMPT ORGANIZATION. COMPENSATION OF VMA EXECUTIVES IS APPROVED BY THE FULL BOARD IN THE BUDGET APPROVAL PROCESS EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION HAS NO EMPLOYEES. INSTEAD ALL INDIVIDUALS PERFORMING SERVICES FOR THE FOUNDATION ARE EMPLOYED BY VIRGINIA MANUFACTURERS ASSOCIATION (VMA), A RELATED TAX-EXEMPT ORGANIZATION. COMPENSATION OF VMA EXECUTIVES IS APPROVED BY THE FULL BOARD IN THE BUDGET APPROVAL PROCESS EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATIONS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CHANGE IN RESTRICTED FUNDS -10,718
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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IRS990/WebsiteAddressTxt0WWW.VAMANUFACTURERS.COM
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0BRETT VASSEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08047091321
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-08-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VIRGINIA INDUSTRY FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0VIRG
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LITTLEWOOD & ASSOCIATES CPAS PLLC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0238311712
ReturnHeader/PreparerPersonGrp/PhoneNum08044540563
ReturnHeader/PreparerPersonGrp/PreparationDt02025-08-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHEN W LITTLEWOOD
ReturnHeader/ReturnTs02025-09-24T11:36:25-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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