Liabilities / Assets
34th percentile
Higher debt load relative to assets than 34% of similar nonprofits.
EIN 27-1647574 • 501(c)3 • Virginia Beach, VA
Profile
To support education programs and for providing financial assistance to impoverished people including, but not limited to, providing community services, education, housing assistance and job training in conjunction with chesapeake bay academy.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
34th percentile
Higher debt load relative to assets than 34% of similar nonprofits.
Liabilities / Revenue
35th percentile
Higher debt load relative to revenue than 35% of similar nonprofits.
Net Margin
89th percentile
Higher net margin than 89% of similar nonprofits.
Top Officer Pay
55th percentile
Higher top officer pay than 55% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
91st percentile
Faster asset growth than 91% of similar nonprofits.
Revenue Growth
86th percentile
Faster revenue growth than 86% of similar nonprofits.
Assets
Up$430,433
Up $119,583 (+38%) from 2022
Liabilities
Up$36
Up $36 from 2022
Net Assets
Up$430,397
Up $119,547 (+38%) from 2022
Revenue
Up$697,291
Up $225,083 (+48%) from 2022
Expenses
Down$362,295
Down $362,254 (-50%) from 2022
Net Income
Up$334,996
Up $587,337 (+233%) from 2022
Most recent year
2025 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
The virginia foundation for ld students was established to serve students with financial need whose lives would be transformed by an individualized education. Students supported by this foundation come from a wide range of socioeconomic backgrounds; over 20% of families currently receiving tuition assistance live at or below the federal poverty level. Supporters of this educational foundation secure our ability to offer students critical scholarship funds, while at the same time realizing significant tax savings for donors. The impact of your gift to vflds is truly life changing.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $246,672 | $430,433 | ▲ $183,761 |
| Total Assets | $246,672 | $430,433 | ▲ $183,761 |
| Liabilities | |||
| Other Liabilities | $151,235 | $0 | ▼ $151,235 |
| Accounts Payable and Accrued Expenses | $36 | $36 | → $0 |
| Total Liabilities | $151,271 | $36 | ▼ $151,235 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $95,401 | $430,397 | ▲ $334,996 |
| Total Net Assets Fund Balance | $95,401 | $430,397 | ▲ $334,996 |
| Total Liabilities and Net Assets / Fund Balance | $246,672 | $430,433 | ▲ $183,761 |
| Period | Beginning | Contrib. | Gain/Loss | Other Uses | End |
|---|---|---|---|---|---|
| 2024 | $0 | - | → $0 | $0 | - |
| 2021 | $109,669 | - | - | $109,669 | - |
| 2020 | $109,669 | - | ▲ $60 | $60 | $109,669 |
| Name | Title |
|---|---|
| Joanne L Webster | President |
| Darlene Pierro | Vice President |
| Davis Rennolds | Trustee |
| Josh Myers | Secretary |
| Matt Benedetti | Treasurer |
| Contribution Type | Contribution Count | Reported Amount | Valuation Method |
|---|---|---|---|
| Securities Publicly Traded | 21 | $360,116 | Fair Market Value (FMV) |
| Total Noncash Contributions | 21 | $360,116 | - |
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $333,888 |
| Other Expenses | $28,407 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $333,888 | - | - | $333,888 |
| Fees for Services Accounting | - | $7,650 | - | $7,650 |
| Occupancy | $3,000 | $3,000 | - | $6,000 |
| Insurance | $656 | $656 | - | $1,312 |
| Other Expenses | $6,177 | $396 | - | $396 |
| Fees for Services Legal | - | $250 | - | $250 |
| Total Functional Expenses | $343,721 | $18,574 | $0 | $362,295 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $362,295 |
| Total Expenses per Audited Statements | $362,295 |
| Total Expenses per Form 990 | $362,295 |
| Expenses Not Reported on Financial Statements | $0 |
| Expenses Not Reported on Form 990 | $0 |
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Chesapeake Bay Academy | Virginia Beach, VA | 501(c)(3) | Financial Aid to Students of Chesapeake Bay Academy and Related Support. | $162,710 |
| Northstar Academy Inc | Glen Allen, VA | 501(c)(3) | Financial Aid to Students of Partner Schools. | $55,900 |
| New Vistas School of Central Virginia Inc | Lynchburg, VA | 501(c)(3) | Financial Aid to Students of Partner Schools. | $7,094 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
“A draft of form 990 is given to all board memebers for review before filing.”
“All board members are required to sign a conflict of interest statement each year.”
“The foundation does not have any arrangements to make its governing documents, conflict of interest policy or financial statements available to the general public. However, these documents are made available to the parties who request them.”
“The foundation has a committee that assumes responsibility for oversight of the review of its financial statements and selection of an independent accountant.”
“The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code, except on net income derived from unrelated business activities. Internal revenue code section 513(a) defines an unrelated trade or business of an exempt organization as any trade or business which is not substantially related to the exercise or performance of its exempt purpose. Currently, the foundation has no obligation for any unrelated business income tax. The foundation believes it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.”
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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| IRS990/ActivityOrMissionDesc | 0 | THE VIRGINIA FOUNDATION FOR LD STUDENTS WAS ESTABLISHED TO SERVE STUDENTS WITH FINANCIAL NEED WHOSE LIVES WOULD BE TRANSFORMED BY AN INDIVIDUALIZED EDUCATION. STUDENTS SUPPORTED BY THIS FOUNDATION COME FROM A WIDE RANGE OF SOCIOECONOMIC BACKGROUNDS; OVER 20% OF FAMILIES CURRENTLY RECEIVING TUITION ASSISTANCE LIVE AT OR BELOW THE FEDERAL POVERTY LEVEL. SUPPORTERS OF THIS EDUCATIONAL FOUNDATION SECURE OUR ABILITY TO OFFER STUDENTS CRITICAL SCHOLARSHIP FUNDS, WHILE AT THE SAME TIME REALIZING SIGNIFICANT TAX SAVINGS FOR DONORS. THE IMPACT OF YOUR GIFT TO VFLDS IS TRULY LIFE CHANGING. |
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| IRS990/Desc | 0 | THE VIRGINIA FOUNDATION FOR LD STUDENTS WAS ESTABLISHED TO SERVE STUDENTS WITH FINANCIAL NEED WHOSE LIVES WOULD BE TRANSFORMED BY AN INDIVIDUALIZED EDUCATION. STUDENTS SUPPORTED BY THIS FOUNDATION COME FROM A WIDE RANGE OF SOCIOECONOMIC BACKGROUNDS; OVER 20% OF FAMILIES CURRENTLY RECEIVING TUITION ASSISTANCE LIVE AT OR BELOW THE FEDERAL POVERTY LEVEL. SUPPORTERS OF THIS EDUCATIONAL FOUNDATION SECURE OUR ABILITY TO OFFER STUDENTS CRITICAL SCHOLARSHIP FUNDS, WHILE AT THE SAME TIME REALIZING SIGNIFICANT TAX SAVINGS FOR DONORS. THE IMPACT OF YOUR GIFT TO VFLDS IS TRULY LIFE CHANGING. |
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| IRS990/MissionDesc | 0 | THE VIRGINIA FOUNDATION FOR LD STUDENTS WAS ESTABLISHED TO SERVE STUDENTS WITH FINANCIAL NEED WHOSE LIVES WOULD BE TRANSFORMED BY AN INDIVIDUALIZED EDUCATION. STUDENTS SUPPORTED BY THIS FOUNDATION COME FROM A WIDE RANGE OF SOCIOECONOMIC BACKGROUNDS; OVER 20% OF FAMILIES CURRENTLY RECEIVING TUITION ASSISTANCE LIVE AT OR BELOW THE FEDERAL POVERTY LEVEL. SUPPORTERS OF THIS EDUCATIONAL FOUNDATION SECURE OUR ABILITY TO OFFER STUDENTS CRITICAL SCHOLARSHIP FUNDS, WHILE AT THE SAME TIME REALIZING SIGNIFICANT TAX SAVINGS FOR DONORS. THE IMPACT OF YOUR GIFT TO VFLDS IS TRULY LIFE CHANGING. |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. INTERNAL REVENUE CODE SECTION 513(A) DEFINES AN UNRELATED TRADE OR BUSINESS OF AN EXEMPT ORGANIZATION AS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. CURRENTLY, THE FOUNDATION HAS NO OBLIGATION FOR ANY UNRELATED BUSINESS INCOME TAX. THE FOUNDATION BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. |
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| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 1 | FINANCIAL AID TO STUDENTS OF PARTNER SCHOOLS. |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 2 | FINANCIAL AID TO STUDENTS OF PARTNER SCHOOLS. |
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| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 2 | NORTHSTAR ACADEMY INC |
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| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 2 | GLEN ALLEN |
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| IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS NOT THE NUMBER OF ITEMS RECEIVED |
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| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | A DRAFT OF FORM 990 IS GIVEN TO ALL BOARD MEMEBERS FOR REVIEW BEFORE FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | ALL BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT EACH YEAR. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE FOUNDATION DOES NOT HAVE ANY ARRANGEMENTS TO MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY OR FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC. HOWEVER, THESE DOCUMENTS ARE MADE AVAILABLE TO THE PARTIES WHO REQUEST THEM. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | THE FOUNDATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE REVIEW OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. |
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| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PART XII, LINE 2C: |
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| IRS990/USAddress/CityNm | 0 | VIRGINIA BEACH |
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| IRS990/WebsiteAddressTxt | 0 | HTTPS://WWW.VFLDS.ORG/HOME |
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| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
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| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | JOANNE WEBSTER |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | PRESIDENT |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 7577471674 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2026-01-30 |
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| ReturnHeader/Filer/USAddress/CityNm | 0 | VIRGINIA BEACH |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | VA |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 23462 |
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| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | EIDE BAILLY LLP |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 150 W MAIN ST STE 1200 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | NORFOLK |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | VA |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 235101620 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 7576254700 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2026-01-30 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | DARIA G PAYNE CPA |
| ReturnHeader/ReturnTs | 0 | 2026-01-30T09:00:06-06:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2024-07-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2025-06-30 |
| ReturnHeader/TaxYr | 0 | 2024 |
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