Civic Intelligence

Virginia Industry Foundation Inc

990 • Fiscal year 2017 • EIN 20-5582985

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 09, 2018

Organization ProfileWWW.VAMANUFACTURERS.COM
2108 West Laburnum Avenue Ste 230Richmond, VA 23227

(804) 643-7489

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

85th percentile

32%

Higher net margin than 85% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

99th percentile

$230,214

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 192.8% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

95th percentile

181%

Faster asset growth than 95% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

97th percentile

244%

Faster revenue growth than 97% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$59,406

Up $38,292 (+181%) from 2016

Net Assets

Up

$59,406

Up $38,292 (+181%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin85th percentile

Revenue

Up

$119,390

Up $84,655 (+244%) from 2016

Expenses

Up

$81,098

Up $1,284 (+1.6%) from 2016

Net Income

Up

$38,292

Up $83,371 (+185%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$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

2017

Assets$59,406
Liabilities$0
Net Assets$59,406
Open 2017 Filing

Operations Trend

Revenue Growth97th percentile

Revenue, expenses, and net income across loaded years, with this 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

2017

Revenue$119,390
Expenses$81,098
Net Income$38,292
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 9, 2018
Return Version
2017v2.3
Gross Receipts
$119,390
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, 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$21,114$59,406▲ $38,292
Total Assets$21,114$59,406▲ $38,292
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$21,114$59,406▲ $38,292
Total Net Assets Fund Balance$21,114$59,406▲ $38,292
Total Liabilities and Net Assets / Fund Balance$21,114$59,406▲ $38,292
Compensation and Service Providers
Top Officer Pay99th percentile

Board Members and Trustees

NameTitle
Brett VasseyPresident
Caryn DurhamBoard Member
Jeff SmithBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$119,350
Program Service Revenue
$0
Investment Income
$40
Other Revenue
$0
All Other Contributions
$119,350
Change in Net Assets
$38,292
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$74,598
Professional Fundraising Fees$6,500
Total Fundraising Expense$6,500
Grants and Similar Amounts Paid$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$49,363--$49,363
Office Expenses$22,196--$22,196
Fees for Services Professional Fundraising--$6,500$6,500
Information Technology$1,629--$1,629
Fees for Services Accounting$1,155--$1,155
Fees for Services Legal$255--$255
Total Functional Expenses$74,598$0$6,500$81,098
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$6,500
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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 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
2108 WEST LABURNUM AVENUE STE 230, RICHMOND, VA 23227

Signing Officer

Name
Brett Vassey
Title
President
Phone
8046437489
Signed
2018-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brett Vassey
Formed
2007
Legal Domicile
Va
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Scott D Hevener CPA Plc
Address
4600 ECOFF AVENUE SUITE 102, CHESTER, VA 23831-1712
Preparer
Scott D Hevener
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 IX, Line 11G

“GRANTS 49,363 0 0”

Raw XML Appendix325 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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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/ExplanationTxt6GRANTS 49,363 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
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 IX, LINE 11G
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt021114
IRS990/TotalAssetsEOYAmt059406
IRS990/TotalAssetsGrp/BOYAmt021114
IRS990/TotalAssetsGrp/EOYAmt059406
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0119350
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06500
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt074598
IRS990/TotalFunctionalExpensesGrp/TotalAmt081098
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotReportableCompRltdOrgAmt0230214
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt021114
IRS990/UnrestrictedNetAssetsGrp/EOYAmt059406
IRS990/UponRequestInd0X
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IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.VAMANUFACTURERS.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRETT VASSEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08046437489
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VIRGINIA INDUSTRY FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0VIRG
ReturnHeader/Filer/EIN0205582985
ReturnHeader/Filer/PhoneNum08046437489
ReturnHeader/Filer/USAddress/AddressLine1Txt02108 WEST LABURNUM AVENUE STE 230
ReturnHeader/Filer/USAddress/CityNm0RICHMOND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02018-11-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm013:38:30
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460729438
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SCOTT D HEVENER CPA PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04600 ECOFF AVENUE SUITE 102
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0238311712
ReturnHeader/PreparerPersonGrp/PhoneNum08044540563
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SCOTT D HEVENER
ReturnHeader/ReturnTs02018-11-14T14:38:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$59,406
Liabilities
$0
Net assets
$59,406
Revenue
$119,390
Expenses
$81,098
Net income
$38,292
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
2017Detailed filing. Detailed filing data is available for this year.$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