Civic Intelligence

Virginia Foundation for LD Students

990 • Fiscal year 2024 • EIN 27-1647574

Jul 01, 2023 to Jun 30, 2024 • Filed on Jan 15, 2025

Organization ProfileWWW.VFLDS.ORG/HOME
821 Baker RoadVirginia Beach, VA 23462

(757) 747-1674

Siviq Scores

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

Liabilities / Assets

91st percentile

0.61x

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

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

Liabilities / Revenue

90th percentile

0.36x

Higher debt load relative to revenue than 90% of similar nonprofits.

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

Net Margin

6th percentile

-101%

Higher net margin than 6% of similar nonprofits.

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

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

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

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

Asset Growth

10th percentile

-53%

Faster asset growth than 10% of similar nonprofits.

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

Revenue Growth

8th percentile

-59%

Faster revenue growth than 8% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$246,672

Down $64,178 (-21%) from 2022

Net Assets

Down

$95,401

Down $215,449 (-69%) from 2022

Liabilities

Up

$151,271

Up $151,271 from 2022

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin6th percentile

Revenue

Down

$424,134

Down $48,074 (-10%) from 2022

Expenses

Up

$854,439

Up $129,890 (+18%) from 2022

Net Income

Down

-$430,305

Down $177,964 (-71%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$800K$600K$400K$200K$0Assets 2011: $144,778Liabilities 2011: $2,500Net Assets 2011: $142,2782011Assets 2013: $449,607Liabilities 2013: $800Net Assets 2013: $448,8072013Assets 2014: $263,288Liabilities 2014: $0Net Assets 2014: $263,2882014Assets 2015: $142,763Liabilities 2015: $0Net Assets 2015: $142,7632015Assets 2016: $357,863Liabilities 2016: $0Net Assets 2016: $357,8632016Assets 2017: $343,212Liabilities 2017: $0Net Assets 2017: $343,2122017Assets 2018: $374,368Liabilities 2018: $0Net Assets 2018: $374,3682018Assets 2019: $790,325Liabilities 2019: $0Net Assets 2019: $790,3252019Assets 2021: $564,917Liabilities 2021: $1,726Net Assets 2021: $563,1912021Assets 2022: $310,850Liabilities 2022: $0Net Assets 2022: $310,8502022Assets 2024: $246,672Liabilities 2024: $151,271Net Assets 2024: $95,4012024Assets 2025: $430,433Liabilities 2025: $36Net Assets 2025: $430,3972025

Highlighted filing

2024

Assets$246,672
Liabilities$151,271
Net Assets$95,401
Open 2024 Filing

Operations Trend

Revenue Growth8th percentile

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

$1.0M$500K$0-$500KExpenses 2011: $397,7252011Expenses 2013: $654,6892013Revenue 2014: $570,492Expenses 2014: $756,011Net Income 2014: -$185,5192014Revenue 2015: $784,251Expenses 2015: $904,776Net Income 2015: -$120,5252015Revenue 2016: $652,108Expenses 2016: $437,008Net Income 2016: $215,1002016Revenue 2017: $755,643Expenses 2017: $770,294Net Income 2017: -$14,6512017Revenue 2018: $674,656Expenses 2018: $643,500Net Income 2018: $31,1562018Revenue 2019: $571,239Expenses 2019: $683,337Net Income 2019: -$112,0982019Revenue 2021: $761,555Expenses 2021: $651,656Net Income 2021: $109,8992021Revenue 2022: $472,208Expenses 2022: $724,549Net Income 2022: -$252,3412022Revenue 2024: $424,134Expenses 2024: $854,439Net Income 2024: -$430,3052024Revenue 2025: $697,291Expenses 2025: $362,295Net Income 2025: $334,9962025

Highlighted filing

2024

Revenue$424,134
Expenses$854,439
Net Income-$430,305
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 15, 2025
Return Version
2023v6.0
Gross Receipts
$424,134
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$524,606$246,672▼ $277,934
Accounts Receivable$1,100$0▼ $1,100
Total Assets$525,706$246,672▼ $279,034
Liabilities
Other Liabilities$0$151,235▲ $151,235
Accounts Payable and Accrued Expenses-$36-
Total Liabilities$0$151,271▲ $151,271
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$525,706$95,401▼ $430,305
Total Net Assets Fund Balance$525,706$95,401▼ $430,305
Total Liabilities and Net Assets / Fund Balance$525,706$246,672▼ $279,034

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$0-→ $0$0-
2021$109,669--$109,669-
2020$109,669-▲ $60$60$109,669
2019$109,669-▲ $49$49$109,669
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
Joanne L WebsterPresident
Darlene PierroVice President
David ReynoldsTrustee
Josh MeyersSecretary
Matt BenedettiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$424,134
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$424,134
Change in Net Assets
$-430,305

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 AmountValuation Method
Securities Publicly Traded13$159,995Fair Market Value (FMV)
Total Noncash Contributions13$159,995-

Audited Revenue Reconciliation

Revenue per Audited Statements
$424,134
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$424,134
Total Revenue per Form 990
$424,134
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$824,943
Other Expenses$29,496
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$824,943--$824,943
Fees for Services Accounting-$7,500-$7,500
Occupancy$3,000$3,000-$6,000
Insurance$628$629-$1,257
Other Expenses$6,175$367-$367
Fees for Services Legal-$250-$250
Total Functional Expenses$834,746$19,693$0$854,439

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Expenses per Audited Statements$0
Total Expenses per Audited Statements$0
Total Expenses per Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Chesapeake Bay AcademyVirginia Beach, VA501(c)(3)Financial Aid to Students of Chesapeake Bay Academy and Related Support.$642,970
Northstar Academy IncGlen Allen, VA501(c)(3)Financial Aid to Students of Partner Schools.$40,656
New Vistas School of Central Virginia IncLynchburg, VA501(c)(3)Financial Aid to Students of Partner Schools.$14,710
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 Related Party$151,235
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
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, Section B, Line 11B

“A draft of form 990 is given to all board memebers for review before filing.”

Form 990, Part VI, Section B, Line 12C

“All board members are required to sign a conflict of interest statement each year.”

Form 990, Part VI, Section C, Line 19

“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.”

Filing and Contact Details

Filer

Filer Name
Virginia Foundation for Ld Students
EIN
27-1647574
Phone
7577471674
Address
821 BAKER ROAD, VIRGINIA BEACH, VA 23462

Signing Officer

Name
Joanne Webster
Title
President
Phone
7577471674
Signed
2025-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joanne Webster
Formed
2009
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Wall Einhorn & Chernitzer Pc
Address
150 W MAIN ST SUITE 1200, NORFOLK, VA 23510
Preparer
Richard E Groover
Phone
7576254700
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The foundation has a committee that assumes responsibility for oversight of the review of its financial statements and selection of an independent accountant.”

Financial Statement Notes

PART X, LINE 2:

“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.”

Raw XML AppendixShowing 400 of 401 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
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt036
IRS990/AccountsReceivableGrp/BOYAmt01100
IRS990/AccountsReceivableGrp/EOYAmt00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE 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.
IRS990/AllOtherContributionsAmt0424134
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THE ORGANIZATION
IRS990/BooksInCareOfDetail/PhoneNum07577471674
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0821 BAKER ROAD
IRS990/BooksInCareOfDetail/USAddress/CityNm0VIRGINIA BEACH
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0VA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd023462
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0424134
IRS990/CYGrantsAndSimilarPaidAmt0824943
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt029496
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0-430305
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt0854439
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0424134
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd01
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0THE 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.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0834746
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt07500
IRS990/FeesForServicesAccountingGrp/TotalAmt07500
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt0250
IRS990/FeesForServicesLegalGrp/TotalAmt0250
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt40.50
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/PersonNm0JOANNE L WEBSTER
IRS990/Form990PartVIISectionAGrp/PersonNm1MATT BENEDETTI
IRS990/Form990PartVIISectionAGrp/PersonNm2JOSH MEYERS
IRS990/Form990PartVIISectionAGrp/PersonNm3DARLENE PIERRO
IRS990/Form990PartVIISectionAGrp/PersonNm4DAVID REYNOLDS
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02009
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GrantAmt0824943
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0824943
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0824943
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0424134
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt05
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt0629
IRS990/InsuranceGrp/ProgramServicesAmt0628
IRS990/InsuranceGrp/TotalAmt01257
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0VA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0525706
IRS990/NetAssetsOrFundBalancesEOYAmt095401
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0525706
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt095401
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt0159995
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt03000
IRS990/OccupancyGrp/ProgramServicesAmt03000
IRS990/OccupancyGrp/TotalAmt06000
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0ADMINISTRATIVE
IRS990/OtherExpensesGrp/Desc1BANK FEES
IRS990/OtherExpensesGrp/Desc2DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06175
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11772
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2367
IRS990/OtherExpensesGrp/ProgramServicesAmt06175
IRS990/OtherExpensesGrp/TotalAmt012350
IRS990/OtherExpensesGrp/TotalAmt11772
IRS990/OtherExpensesGrp/TotalAmt2367
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt0151235
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0JOANNE WEBSTER
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01034595
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0791654
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt028085
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0214856
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0819739
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01034595
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-430305
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0524606
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0246672
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0424134
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01034595
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0472168
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0761495
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0424110
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03116502
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt040
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt060
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt083
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0183
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.64000
IRS990ScheduleA/PublicSupportPY170Pct00.68020
IRS990ScheduleA/PublicSupportTotal170Amt01994784
IRS990ScheduleA/SubstantialContributorsTotAmt01121718
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0424134
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01034595
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0472168
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0761495
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0424110
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03116502
IRS990ScheduleA/TotalSupportAmt03116685
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt00
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0109669
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0109669
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0109669
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0109669
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt060
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt060
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0109669
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0109669
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt049
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt049
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0151235
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0424134
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE 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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt00
IRS990ScheduleD/TotalLiabilityAmt0151235
IRS990ScheduleD/TotalRevenuePerForm990Amt0424134
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0424134
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0642970
IRS990ScheduleI/RecipientTable/CashGrantAmt114710
IRS990ScheduleI/RecipientTable/CashGrantAmt240656
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FINANCIAL AID TO STUDENTS OF CHESAPEAKE BAY ACADEMY AND RELATED SUPPORT.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1FINANCIAL AID TO STUDENTS OF PARTNER SCHOOLS.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2FINANCIAL AID TO STUDENTS OF PARTNER SCHOOLS.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CHESAPEAKE BAY ACADEMY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1NEW VISTAS SCHOOL OF CENTRAL VIRGINIA INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2NORTHSTAR ACADEMY INC
IRS990ScheduleI/RecipientTable/RecipientEIN0541522266
IRS990ScheduleI/RecipientTable/RecipientEIN1541273630
IRS990ScheduleI/RecipientTable/RecipientEIN2541816370
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0821 BAKER ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1520 ELDON STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt211501 NUCKOLS ROAD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0VIRGINIA BEACH
IRS990ScheduleI/RecipientTable/USAddress/CityNm1LYNCHBURG
IRS990ScheduleI/RecipientTable/USAddress/CityNm2GLEN ALLEN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1VA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2VA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd023462
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd124501
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd223059
IRS990ScheduleI/Total501c3OrgCnt03
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt013
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0FMV
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt0159995
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS NOT THE NUMBER OF ITEMS RECEIVED
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF FORM 990 IS GIVEN TO ALL BOARD MEMEBERS FOR REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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/ExplanationTxt3THE FOUNDATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE REVIEW OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0525706
IRS990/TotalAssetsEOYAmt0246672
IRS990/TotalAssetsGrp/BOYAmt0525706
IRS990/TotalAssetsGrp/EOYAmt0246672
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0424134
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt019693
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0834746
IRS990/TotalFunctionalExpensesGrp/TotalAmt0854439
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt0151271
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0151271
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0525706
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt095401
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0834746
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0424134
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0525706
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0246672
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0821 BAKER ROAD
IRS990/USAddress/CityNm0VIRGINIA BEACH
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023462
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HTTPS://WWW.VFLDS.ORG/HOME
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOANNE WEBSTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07577471674
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-01-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VIRGINIA FOUNDATION FOR LD STUDENTS
ReturnHeader/Filer/BusinessNameControlTxt0VIRG
ReturnHeader/Filer/EIN0271647574
ReturnHeader/Filer/PhoneNum07577471674
ReturnHeader/Filer/USAddress/AddressLine1Txt0821 BAKER ROAD
ReturnHeader/Filer/USAddress/CityNm0VIRGINIA BEACH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023462
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541517420
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WALL EINHORN & CHERNITZER PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0150 W MAIN ST SUITE 1200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023510
ReturnHeader/PreparerPersonGrp/PhoneNum07576254700
ReturnHeader/PreparerPersonGrp/PreparationDt02025-01-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RICHARD E GROOVER
ReturnHeader/ReturnTs02025-01-15T12:20:33-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$246,672
Liabilities
$151,271
Net assets
$95,401
Revenue
$424,134
Expenses
$854,439
Net income
-$430,305
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.30$0.00$4.30$6.97$3.62$3.35
2024Detailed filing. Detailed filing data is available for this year.$2.47$1.51$0.95$4.24$8.54$4.30
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.11$0.00$3.11$4.72$7.25$2.52
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.65$0.02$5.63$7.62$6.52$1.10
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.90$0.00$7.90$5.71$6.83$1.12
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.74$0.00$3.74$6.75$6.44$0.31
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.43$0.00$3.43$7.56$7.70$0.15
2016Detailed filing. Detailed filing data is available for this year.$3.58$0.00$3.58$6.52$4.37$2.15
2015Detailed filing. Detailed filing data is available for this year.$1.43$0.00$1.43$7.84$9.05$1.21
2014Detailed filing. Detailed filing data is available for this year.$2.63$0.00$2.63$5.70$7.56$1.86
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.50$0.01$4.49$6.55
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$0.03$1.42$3.98
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2024 filings • 501(c)3 • <$500k nonprofits