Civic Intelligence

Virginia Beach Library Foundation

990 • Fiscal year 2019 • EIN 27-3077402

Jul 01, 2018 to Jun 30, 2019 • Filed on Nov 15, 2019

Organization Profilewww.vblibraryfoundation.org
2416 Courthouse Drive Bldg 19 SuitVirginia Beach, VA 23456

(757) 385-8128

Siviq Scores

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

Liabilities / Assets

57th percentile

0.13x

Higher debt load relative to assets than 57% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

82nd percentile

0.68x

Higher debt load relative to revenue than 82% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

48th percentile

2.6%

Higher net margin than 48% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

60th percentile

6.7%

Faster asset growth than 60% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2019

Revenue Growth

88th percentile

52%

Faster revenue growth than 88% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2019

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$1,648,634

Up $201,775 (+14%) from 2017

Net Assets

Down

$1,439,885

Down $6,974 (-0.5%) from 2017

Liabilities

Up

$208,749

Up $208,749 from 2017

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin48th percentile

Revenue

Up

$309,102

Up $174,880 (+130%) from 2017

Expenses

Up

$300,926

Up $162,576 (+118%) from 2017

Net Income

Up

$8,176

Up $12,304 (+298%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,305,511Liabilities 2011: $0Net Assets 2011: $1,305,5112011Assets 2012: $1,304,260Liabilities 2012: $0Net Assets 2012: $1,304,2602012Assets 2013: $1,250,207Liabilities 2013: $0Net Assets 2013: $1,250,2072013Assets 2014: $1,386,732Liabilities 2014: $10,627Net Assets 2014: $1,376,1052014Assets 2015: $1,450,948Liabilities 2015: $0Net Assets 2015: $1,450,9482015Assets 2016: $1,450,987Liabilities 2016: $0Net Assets 2016: $1,450,9872016Assets 2017: $1,446,859Liabilities 2017: $0Net Assets 2017: $1,446,8592017Assets 2019: $1,648,634Liabilities 2019: $208,749Net Assets 2019: $1,439,8852019Assets 2020: $1,651,499Liabilities 2020: $217,616Net Assets 2020: $1,433,8832020Assets 2021: $2,011,489Liabilities 2021: $271,991Net Assets 2021: $1,739,4982021Assets 2022: $1,751,612Liabilities 2022: $233,106Net Assets 2022: $1,518,5062022Assets 2023: $1,890,929Liabilities 2023: $268,443Net Assets 2023: $1,622,4862023Assets 2024: $1,957,515Liabilities 2024: $302,471Net Assets 2024: $1,655,0442024Assets 2025: $2,127,651Liabilities 2025: $336,097Net Assets 2025: $1,791,5542025

Highlighted filing

2019

Assets$1,648,634
Liabilities$208,749
Net Assets$1,439,885
Open 2019 Filing

Operations Trend

Revenue Growth88th percentile

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

$400K$300K$200K$100K$0-$100KExpenses 2011: $9,4692011Expenses 2012: $38,2962012Expenses 2013: $157,5182013Revenue 2014: $172,783Expenses 2014: $46,885Net Income 2014: $125,8982014Revenue 2015: $109,502Expenses 2015: $34,659Net Income 2015: $74,8432015Revenue 2016: $110,338Expenses 2016: $110,299Net Income 2016: $392016Revenue 2017: $134,222Expenses 2017: $138,350Net Income 2017: -$4,1282017Revenue 2019: $309,102Expenses 2019: $300,926Net Income 2019: $8,1762019Revenue 2020: $149,649Expenses 2020: $123,928Net Income 2020: $25,7212020Revenue 2021: $136,958Expenses 2021: $111,516Net Income 2021: $25,4422021Revenue 2022: $151,584Expenses 2022: $85,628Net Income 2022: $65,9562022Revenue 2023: $128,556Expenses 2023: $124,986Net Income 2023: $3,5702023Revenue 2024: $158,365Expenses 2024: $239,513Net Income 2024: -$81,1482024Revenue 2025: $146,350Expenses 2025: $112,750Net Income 2025: $33,6002025

Highlighted filing

2019

Revenue$309,102
Expenses$300,926
Net Income$8,176
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$885,780
Mission and Program Overview

Mission

To support the virginia beach public libraries

The foundation solicits, receives, and administers gifts for the va beach public library's benefit, that the library could not otherwise afford through its annual operating budget

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,520,756$1,534,198▲ $13,442
Cash and Non-Interest-Bearing Accounts$112,793$110,434▼ $2,359
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,637,549$1,648,634▲ $11,085
Other Assets Total$4,000$4,002▲ $2
Liabilities
Escrow Account Liability$194,108$205,425▲ $11,317
Accounts Payable and Accrued Expenses$552$3,324▲ $2,772
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$194,660$208,749▲ $14,089
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,380,797$1,398,590▲ $17,793
Unrestricted Net Assets$62,092$41,295▼ $20,797
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$1,442,889$1,439,885▼ $3,004
Total Liabilities and Net Assets / Fund Balance$1,637,549$1,648,634▲ $11,085

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$1,442,889$209,370▲ $88,552$59,674$1,439,885
2017$1,446,859$38,175▲ $90,584$87,644$1,442,889
2016$1,450,987$76,245▲ $58,748$82,519$1,446,859
2015$1,450,948$23,000▲ $87,338$57,322$1,450,987
2014$1,376,105$36,487▲ $73,015$14,113$1,450,948
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Morris H FinePresident
Margaret CampbellVice President
Ben DavenportBoard Member
Chelle DavisBoard Member
Eric FoxBoard Member
Guy TowerBoard Member
J Frank WaltonBoard Member
Jeffrey L MarksBoard Member
Karen BischoffBoard Member
Marcy J SimsBoard Member
Nancy K ParkerBoard Member
Nancy OliverBoard Member
Paul SpeeceBoard Member
Wanda CooperBoard Member
Eva PooleSecretary
Robert G KrebsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$209,370
Program Service Revenue
$0
Investment Income
$99,732
Other Revenue
$0
All Other Contributions
$209,370
Change in Net Assets
$8,176
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$190,449
Other Expenses$110,477
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$190,449--$190,449
Fees for Service Investment Mgmnt Fees-$11,928-$11,928
Fees for Services Accounting-$8,106-$8,106
Office Expenses-$2,060-$2,060
Advertising-$1,970-$1,970
Travel-$452-$452
Other Expenses$59,674$404-$404
All Other Expenses-$161-$161
Total Functional Expenses$250,123$50,803$0$300,926
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of Virginia BeachVirginia Beach, VA-Support Vb Library$190,449
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
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
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 Review, Part VI, Section B Policies, Item 11

“The board of directors review and approve form 990 before it is filed.”

Conflict of Interest, Part VI Section B Policies, Item 12

“The foundation by-laws require directors to comply with all virginia and local law concerning conflict of interest transactions as defined in va code 13.1-871. Directors must disclose actual or potential conflicts to the board of directors.”

Form 990 Review, Part VI, Section C, Item 18

“The foundation makes its form 990 available on guidestar.org as well as upon request.”

Filing and Contact Details

Filer

Filer Name
Virginia Beach Library Foundation
EIN
27-3077402
In Care Of
% EVA POOLE
Phone
7573858128
Address
2416 Courthouse Drive Bldg 19 Suit, Virginia Beach, VA 23456

Signing Officer

Name
Eva Poole
Title
Secretary
Phone
7573858128
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Morris H Fine
Formed
2009
Legal Domicile
Va
Voting Board Members
16
Independent Board Members
16
Employees
0

Preparer

Firm
Bdo USA Llp
Address
150 Boush Street Suite 1100, Norfolk, VA 23510
Preparer
James E Prince III
Phone
7576407190
Supplemental Narrative

Financial Statement Notes

Schedule D, Part IV

“The organization holds fund as intermediary for a separate organization - the friends of the library, as part of its endowment investments.”

Raw XML AppendixShowing 400 of 566 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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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfGoverningBodyInd0true
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IRS990/OtherExpensesGrp/Desc1DUES & SUBSCRIPTIONS
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IRS990/OtherExpensesGrp/Desc3BANK CHARGES
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IRS990/PrincipalOfficerNm0MORRIS H FINE
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgSrvcAccomActy3Grp/Desc0SUPPORT OF VIRGINIA BEACH PUBLIC LIBRARY'S EFFORTS TO PROVIDE BETTER CUSTOMER SERVICE THROUGH THE PURCHASE AND IMPLEMENTATION OF ORANGEBOY'S SAVANNAH SOFTWARE
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,648,634
Liabilities
$208,749
Net assets
$1,439,885
Revenue
$309,102
Expenses
$300,926
Net income
$8,176
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.13$0.34$1.79$0.15$0.11$0.03
2024Detailed filing. Detailed filing data is available for this year.$1.96$0.30$1.66$0.16$0.24$0.08
2023Detailed filing. Detailed filing data is available for this year.$1.89$0.27$1.62$0.13$0.12$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.75$0.23$1.52$0.15$0.09$0.07
2021Detailed filing. Detailed filing data is available for this year.$2.01$0.27$1.74$0.14$0.11$0.03
2020Detailed filing. Detailed filing data is available for this year.$1.65$0.22$1.43$0.15$0.12$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.65$0.21$1.44$0.31$0.30$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.13$0.14$0.00
2016Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.11$0.11$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$0.11$0.03$0.07
2014Detailed filing. Detailed filing data is available for this year.$1.39$0.01$1.38$0.17$0.05$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$0.00$1.25$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$0.00$1.30$0.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$0.00$1.31$0.01