Civic Intelligence

Suffolk Foundation

990 • Fiscal year 2020 • EIN 20-5998525

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 17, 2021

110 W Finney AveSuffolk, VA 23434

(757) 923-9090

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

10th percentile

0.02x

Higher debt load relative to revenue than 10% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

74th percentile

17%

Higher net margin than 74% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

56th percentile

9.0%

Faster asset growth than 56% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

60th percentile

6.5%

Faster revenue growth than 60% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$11,369,863

Up $939,651 (+9.0%) from 2019

Net Assets

Up

$11,347,579

Up $919,846 (+8.8%) from 2019

Liabilities

Up

$22,284

Up $19,805 (+799%) from 2019

Revenue

Up

$1,121,897

Up $68,943 (+6.5%) from 2019

Expenses

Up

$926,393

Up $176,706 (+24%) from 2019

Net Income

Down

$195,504

Down $107,763 (-36%) from 2019

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $3,615,597Liabilities 2010: $0Net Assets 2010: $3,615,5972010Assets 2011: $3,717,286Liabilities 2011: $0Net Assets 2011: $3,717,2862011Assets 2012: $4,195,465Liabilities 2012: $0Net Assets 2012: $4,195,4652012Assets 2013: $5,509,147Liabilities 2013: $0Net Assets 2013: $5,509,1472013Assets 2014: $5,515,226Liabilities 2014: $0Net Assets 2014: $5,515,2262014Assets 2015: $5,293,852Liabilities 2015: $1,867Net Assets 2015: $5,291,9852015Assets 2016: $5,735,138Liabilities 2016: $0Net Assets 2016: $5,735,1382016Assets 2017: $6,485,723Liabilities 2017: $2,268Net Assets 2017: $6,483,4552017Assets 2018: $8,681,724Liabilities 2018: $2,105Net Assets 2018: $8,679,6192018Assets 2019: $10,430,212Liabilities 2019: $2,479Net Assets 2019: $10,427,7332019Assets 2020: $11,369,863Liabilities 2020: $22,284Net Assets 2020: $11,347,5792020Assets 2021: $12,669,857Liabilities 2021: $2,598Net Assets 2021: $12,667,2592021Assets 2022: $11,006,379Liabilities 2022: $2,527Net Assets 2022: $11,003,8522022Assets 2023: $12,251,749Liabilities 2023: $937,544Net Assets 2023: $11,314,2052023Assets 2024: $17,767,454Liabilities 2024: $967,549Net Assets 2024: $16,799,9052024

Highlighted filing

2020

Assets$11,369,863
Liabilities$22,284
Net Assets$11,347,579

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $200,0262010Expenses 2011: $266,9192011Expenses 2012: $331,5672012Revenue 2013: $2,847,476Expenses 2013: $1,533,794Net Income 2013: $1,313,6822013Revenue 2014: $790,695Expenses 2014: $784,616Net Income 2014: $6,0792014Revenue 2015: $380,120Expenses 2015: $603,361Net Income 2015: -$223,2412015Revenue 2016: $1,020,448Expenses 2016: $577,295Net Income 2016: $443,1532016Revenue 2017: $1,226,862Expenses 2017: $478,545Net Income 2017: $748,3172017Revenue 2018: $3,275,621Expenses 2018: $533,931Net Income 2018: $2,741,6902018Revenue 2019: $1,052,954Expenses 2019: $749,687Net Income 2019: $303,2672019Revenue 2020: $1,121,897Expenses 2020: $926,393Net Income 2020: $195,5042020Revenue 2021: $1,568,814Expenses 2021: $903,332Net Income 2021: $665,4822021Revenue 2022: $1,330,106Expenses 2022: $950,723Net Income 2022: $379,3832022Revenue 2023: $1,201,852Expenses 2023: $1,126,082Net Income 2023: $75,7702023Revenue 2024: $7,055,591Expenses 2024: $1,580,367Net Income 2024: $5,475,2242024

Highlighted filing

2020

Revenue$1,121,897
Expenses$926,393
Net Income$195,504
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 17, 2021
Return Version
2020v4.0
Gross Receipts
$5,058,687
Mission and Program Overview

Mission

To facilitate and develop philanthropy, to engage in chartitable grant making and to take other actions for a broad range of charitable needs for the benefit of the people of the city of suffolk, virginia and the surrounding areas where suffolk is a beneficiary.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$9,589,422$10,621,904▲ $1,032,482
Cash and Non-Interest-Bearing Accounts$518,303$534,596▲ $16,293
Pledges and Grants Receivable$264,619$154,500▼ $110,119
Land, Buildings, and Equipment, Net$57,868$58,863▲ $995
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$10,430,212$11,369,863▲ $939,651
Other Assets Total-$0-
Liabilities
Unsecured Notes Loans Payable-$20,100-
Accounts Payable and Accrued Expenses$2,479$2,184▼ $295
Total Liabilities$2,479$22,284▲ $19,805
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,427,733$11,347,579▲ $919,846
Total Net Assets Fund Balance$10,427,733$11,347,579▲ $919,846
Total Liabilities and Net Assets / Fund Balance$10,430,212$11,369,863▲ $939,651

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$27,270$13,953$41,223
Leasehold Improvements$31,593$4,399$35,992
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$833,228
Program Service Revenue
$0
Investment Income
$288,669
Other Revenue
$0
All Other Contributions
$833,228
Change in Net Assets
$195,504

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Securities Publicly Traded2$89,841
Total Noncash Contributions2$89,841
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$672,125
Other Expenses$150,305
Salaries, Compensation, and Employee Benefits$103,963
Total Fundraising Expense$48,179
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$630,325--$630,325
Other Salaries and Wages$23,397$43,327$19,930$86,654
Grants to Domestic Individuals$41,800--$41,800
All Other Expenses$3,951$6,644$3,513$14,108
Fees for Services Other$11,875$510$235$12,620
Occupancy$3,200$5,925$2,725$11,850
Depreciation Depletion$3,003$5,562$2,558$11,123
Other Employee Benefits$2,899$5,369$2,470$10,738
Advertising--$10,621$10,621
Payroll Taxes$1,774$3,286$1,511$6,571
Other Expenses$1,759$660$1,980$4,399
Fees for Services Accounting$786$1,454$670$2,910
Insurance$606$1,123$516$2,245
Total Functional Expenses$804,354$73,860$48,179$926,393
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
ForkidsNorfolk, VA--$60,500
Salvation ArmySuffolk, VA--$60,000
Morehead-cain FoundaionChapel Hill, NC--$50,000
The Mariners MuseumNewport News, VA--$37,000
Union MissionNorfolk, VA--$35,000
Global Action PlatformNashville, TN--$26,000
Rawls Museum of ArtsCourtland, VA--$20,000
ChkdNorfolk, VA--$15,000
Suffolk Ctr for Cultural ArtsSuffolk, VA--$15,000
Suffolk Meals on WheelsSuffolk, VA--$14,500
Nansemond-suffolk AcademySuffolk, VA--$13,000
Roc Solid FoundationChesapeake, VA--$13,000
Ebenezer UmcSuffolk, VA--$12,000
Foodank of Se VaNorfolk, VA--$12,000
Suffolk Christ Fellow Food PaSuffolk, VA--$12,000
Coalition Against PovertySuffolk, VA--$11,500
An Achievable DreamNewport News, VA--$10,000
EdmarcPortsmouth, VA--$10,000
St Lukes ChurchSmithfield, VA--$10,000
Western Tidewater Free ClinicSuffolk, VA--$10,000
Williamsburg Christian AcademWilliamsburg, VA--$10,000
Va Legal Aid SocietySuffolk, VA--$6,400
The Genieve ShelterSuffolk, VA--$5,500
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
No
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, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Two directors have a father-son relationship

Form 990, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

to date there has been zero non-compliance with the policy; should there be one, enforcement will be addressed by the Executive Committee

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The review is conducted by the Board President and approved by first the Executive Committee and then the full Board; compensation data for other Community Foundations in the immediate geographic area is compiled and those Executive Director compensations are presented as percentage of the organizations total assets as the means of substantiating the compensation paid to the Suffolk Foundation Executive Director.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Suffolk Foundation
EIN
20-5998525
Phone
7579239090
Address
110 W FINNEY AVE, SUFFOLK, VA 23434

Signing Officer

Name
Oliver Kermit Hobbs Jr
Title
President
Signed
2021-06-17
Discuss with paid preparer
Yes

Organization Details

Formed
2006
Voting Board Members
20
Independent Board Members
20
Employees
3
Volunteers
20

Preparer

Firm
Boyce Spady & Moore Plc
Address
1013 W Washington Street, Suffolk, VA 23434
Preparer
Robert M Moore Jr
Phone
7575392953
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IRS990/Form990PartVIISectionAGrp/PersonNm19JOHN D EURE JR
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IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
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IRS990/PYTotalExpensesAmt0749687
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$17.8$0.97$16.8$7.06$1.58$5.48
2023Detailed filing. Detailed filing data is available for this year.$12.3$0.94$11.3$1.20$1.13$0.08
2022Detailed filing. Detailed filing data is available for this year.$11.0$0.00$11.0$1.33$0.95$0.38
2021Detailed filing. Detailed filing data is available for this year.$12.7$0.00$12.7$1.57$0.90$0.67
2020Detailed filing. Detailed filing data is available for this year.$11.4$0.02$11.3$1.12$0.93$0.20
2019Detailed filing. Detailed filing data is available for this year.$10.4$0.00$10.4$1.05$0.75$0.30
2018Detailed filing. Detailed filing data is available for this year.$8.68$0.00$8.68$3.28$0.53$2.74
2017Detailed filing. Detailed filing data is available for this year.$6.49$0.00$6.48$1.23$0.48$0.75
2016Detailed filing. Detailed filing data is available for this year.$5.74$0.00$5.74$1.02$0.58$0.44
2015Detailed filing. Detailed filing data is available for this year.$5.29$0.00$5.29$0.38$0.60$0.22
2014Detailed filing. Detailed filing data is available for this year.$5.52$0.00$5.52$0.79$0.78$0.01
2013Detailed filing. Detailed filing data is available for this year.$5.51$0.00$5.51$2.85$1.53$1.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.20$0.00$4.20$0.33
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.72$0.00$3.72$0.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.62$0.00$3.62$0.20