Civic Intelligence

Virginiafirst

990 • Fiscal year 2022 • EIN 20-8081778

Jul 01, 2021 to Jun 30, 2022 • Filed on Mar 15, 2023

2101 Maywill StreetRichmond, VA 23230

(804) 572-8454

Siviq Scores

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

Liabilities / Assets

91st percentile

0.78x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

75th percentile

0.36x

Higher debt load relative to revenue than 75% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

39th percentile

1.6%

Higher net margin than 39% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

82nd percentile

$139,500

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 13.8% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

7th percentile

-21%

Faster asset growth than 7% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

55th percentile

9.0%

Faster revenue growth than 55% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$467,652

Down $122,818 (-21%) from 2021

Net Assets

Up

$103,292

Up $15,830 (+18%) from 2021

Liabilities

Down

$364,360

Down $138,648 (-28%) from 2021

Revenue

Up

$1,013,796

Up $83,658 (+9.0%) from 2021

Expenses

Up

$997,966

Up $156,900 (+19%) from 2021

Net Income

Down

$15,830

Down $73,242 (-82%) from 2021

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2011: $418,896Liabilities 2011: $0Net Assets 2011: $418,8962011Assets 2012: $487,852Liabilities 2012: $6,217Net Assets 2012: $481,6352012Assets 2013: $547,290Liabilities 2013: $35,937Net Assets 2013: $511,3532013Assets 2014: $534,755Liabilities 2014: $2,573Net Assets 2014: $532,1822014Assets 2015: $338,864Liabilities 2015: $36,784Net Assets 2015: $302,0802015Assets 2016: $125,887Liabilities 2016: $47,612Net Assets 2016: $78,2752016Assets 2017: $204,381Liabilities 2017: $488,492Net Assets 2017: -$284,1112017Assets 2018: $68,713Liabilities 2018: $302,634Net Assets 2018: -$233,9212018Assets 2019: $98,616Liabilities 2019: $283,301Net Assets 2019: -$184,6852019Assets 2020: $364,641Liabilities 2020: $366,251Net Assets 2020: -$1,6102020Assets 2021: $590,470Liabilities 2021: $503,008Net Assets 2021: $87,4622021Assets 2022: $467,652Liabilities 2022: $364,360Net Assets 2022: $103,2922022Assets 2023: $585,010Liabilities 2023: $380,640Net Assets 2023: $204,3702023Assets 2024: $1,064,648Liabilities 2024: $574,782Net Assets 2024: $489,8662024

Highlighted filing

2022

Assets$467,652
Liabilities$364,360
Net Assets$103,292

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $578,695Expenses 2011: $445,863Net Income 2011: $132,8322011Revenue 2012: $543,762Expenses 2012: $481,023Net Income 2012: $62,7392012Revenue 2013: $656,336Expenses 2013: $626,618Net Income 2013: $29,7182013Revenue 2014: $716,021Expenses 2014: $694,192Net Income 2014: $21,8292014Revenue 2015: $712,154Expenses 2015: $942,256Net Income 2015: -$230,1022015Revenue 2016: $1,245,177Expenses 2016: $1,468,982Net Income 2016: -$223,8052016Revenue 2017: $1,070,069Expenses 2017: $1,432,455Net Income 2017: -$362,3862017Revenue 2018: $964,357Expenses 2018: $914,168Net Income 2018: $50,1892018Revenue 2019: $1,025,106Expenses 2019: $975,870Net Income 2019: $49,2362019Revenue 2020: $1,102,847Expenses 2020: $919,772Net Income 2020: $183,0752020Revenue 2021: $930,138Expenses 2021: $841,066Net Income 2021: $89,0722021Revenue 2022: $1,013,796Expenses 2022: $997,966Net Income 2022: $15,8302022Revenue 2023: $1,120,050Expenses 2023: $1,018,972Net Income 2023: $101,0782023Revenue 2024: $1,094,225Expenses 2024: $808,728Net Income 2024: $285,4972024

Highlighted filing

2022

Revenue$1,013,796
Expenses$997,966
Net Income$15,830
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Mar 15, 2023
Return Version
2021v4.2
Gross Receipts
$1,013,796
Mission and Program Overview

Mission

The VirginiaFIRST mission is to inspire young people to be science and technology leaders and innovators, by engaging them in exciting mentor-based programs that build science, engineering, and technology skills, that inspire innovation, and that foster well-rounded life capabilities including self-confidence, communication, and leadership.

To inspire youth to be science and technology leaders and innovators, by engaging them in mentor-based programs that build science, engineering, and technology skills.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$100,158$204,035▲ $103,877
Savings and Temporary Cash Investments$397,571$186,582▼ $210,989
Accounts Receivable-$61,275-
Prepaid Expenses and Deferred Charges$85,718$10,000▼ $75,718
Land, Buildings, and Equipment, Net$5,648$4,385▼ $1,263
Total Assets$590,470$467,652▼ $122,818
Other Assets Total$1,375$1,375→ $0
Liabilities
Other Liabilities$428,027$341,255▼ $86,772
Accounts Payable and Accrued Expenses$37,481$13,105▼ $24,376
Deferred Revenue$37,500$10,000▼ $27,500
Total Liabilities$503,008$364,360▼ $138,648
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$87,462$103,292▲ $15,830
Total Net Assets Fund Balance$87,462$103,292▲ $15,830
Total Liabilities and Net Assets / Fund Balance$590,470$467,652▼ $122,818

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,385$4,875$9,260
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Leighann BolandExecutive DirectorFT$139,500$139,500

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$715,688
Program Service Revenue
$298,100
Investment Income
$8
Other Revenue
$0
All Other Contributions
$666,828
Change in Net Assets
$15,830

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,013,796
Total Revenue per Audited Statements
$1,013,796
Total Revenue per Form 990
$1,013,796
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$562,484
Other Expenses$435,482
Total Fundraising Expense$69,071
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$428,574$53,572$53,572$535,718
Other Expenses$115,864--$115,864
Office Expenses$25,504$3,218$3,188$31,910
Fees for Services Management$11,734$13,635$2,819$28,188
Occupancy$17,056$2,132$2,132$21,320
Payroll Taxes$15,905$1,988$1,988$19,881
Fees for Services Accounting$3,600$12,600$1,800$18,000
Insurance$8,730$4,574-$13,304
All Other Expenses$8,126$1,016$1,015$10,157
Pension Plan Contributions$5,508$688$689$6,885
Travel-$1,616$1,617$3,233
Depreciation Depletion$1,010$126$126$1,262
Fees for Services Legal$250$876$125$1,251
Total Functional Expenses$832,854$96,041$69,071$997,966

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$997,966
Total Expenses per Audited Statements$997,966
Total Expenses per Form 990$997,966
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
Federal income taxes$183,333
FIRST Note Payable$157,922
Sba Ppp 1-
Sba Eidl-
Sba Ppp 2-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Accounting, bookkeeping and financial and tax duties are handled by an independent accounting firm.

Form 990, Part VI, Section A, Line 8

The Organization Secretary notates and then circulates the Minutes of the Board Meetings.

Form 990, Part VI, Section B, Line 11

Each Director reviewed and signed-off on the financial statements and Form 990 before filing.

Form 990, Part VI, Section B, Line 12

At least annually each Director is asked about potential conflicts of interest.

Form 990, Part VI, Section B, Line 15

Compensation for employees and independent contractors is set by the Board of Directors with validation by third-party Human Resource and Staffing professionals.

Form 990, Part VI, Section C, Line 19

Governing documents, policy and financial statements are made available upon request.

Filing and Contact Details

Filer

Filer Name
VirginiaFIRST
EIN
20-8081778
Phone
8045728454
Address
2101 Maywill Street, Richmond, VA 23230
Doing Business As
FIRST Chesapeake

Signing Officer

Name
Bettina G Welsh
Title
Treasurer
Phone
8045728454
Signed
2023-03-15
Discuss with paid preparer
Yes

Organization Details

Formed
2006
Legal Domicile
Va
Voting Board Members
16
Independent Board Members
16
Employees
3
Volunteers
100

Preparer

Firm
ProSport CPA PLLC
Address
7524 Cumberland STN RD STE 200, Quinton, VA 23141
Preparer
John Karaffa
Phone
8045572648
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2

The Board of Directors reviews the financial statements on a periodic basis and oversees, selects, and retains the independent accounting firm.

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IRS990/Desc0VirginiaFIRST offers programs for youths in grades K to 12. Over the years with assistance from sponsors, coaches, mentors and friends, the organization has established dozens of qualifying, state and regional events and competitions to challenge and inspire thousands of students. In the 2015-16 fiscal year, the organization expanded its reach to a district model to include the District of Columbia and Maryland covering 7 district events and one championship event for the FIRST Robotics Competition FRC. This expansion is also known as FIRST Chesapeake. The FRC championship event is the premier engineering challenge for high school students and is the highlight event of the organization. VirginiaFIRST also sponsors the FIRST Tech Challenge and the FIRST LEGO League competitions, as well as various exhibitions within the operations of the organization.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.06$0.57$0.49$1.09$0.81$0.29
2023Detailed filing. Detailed filing data is available for this year.$0.59$0.38$0.20$1.12$1.02$0.10
2022Detailed filing. Detailed filing data is available for this year.$0.47$0.36$0.10$1.01$1.00$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.59$0.50$0.09$0.93$0.84$0.09
2020Detailed filing. Detailed filing data is available for this year.$0.36$0.37$0.00$1.10$0.92$0.18
2019Summary only. Only limited summary data is available for this year.$0.10$0.28$0.18$1.03$0.98$0.05
2018Summary only. Only limited summary data is available for this year.$0.07$0.30$0.23$0.96$0.91$0.05
2017Summary only. Only limited summary data is available for this year.$0.20$0.49$0.28$1.07$1.43$0.36
2016Summary only. Only limited summary data is available for this year.$0.13$0.05$0.08$1.25$1.47$0.22
2015Summary only. Only limited summary data is available for this year.$0.34$0.04$0.30$0.71$0.94$0.23
2014Summary only. Only limited summary data is available for this year.$0.53$0.00$0.53$0.72$0.69$0.02
2013Summary only. Only limited summary data is available for this year.$0.55$0.04$0.51$0.66$0.63$0.03
2012Summary only. Only limited summary data is available for this year.$0.49$0.01$0.48$0.54$0.48$0.06
2011Summary only. Only limited summary data is available for this year.$0.42$0.00$0.42$0.58$0.45$0.13