Civic Intelligence

Virginia Beach Library Foundation

990 • Fiscal year 2020 • EIN 27-3077402

Jul 01, 2019 to Jun 30, 2020 • Filed on Jul 30, 2020

Organization ProfileWWW.VBLIBRARYFOUNDATION.ORG

Refreshing map…

2416 Courthouse Drive Bldg 19Virginia Beach, VA 23456

(757) 385-8128

Siviq Scores

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

Liabilities / Assets

55th percentile

0.13x

Higher debt load relative to assets than 55% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

88th percentile

1.45x

Higher debt load relative to revenue than 88% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

70th percentile

17%

Higher net margin than 70% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

33rd percentile

0.2%

Faster asset growth than 33% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

7th percentile

-52%

Faster revenue growth than 7% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$1,651,499

Up $2,865 (+0.2%) from 2019

Net Assets

Down

$1,433,883

Down $6,002 (-0.4%) from 2019

Liabilities

Up

$217,616

Up $8,867 (+4.2%) from 2019

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin70th percentile

Revenue

Down

$149,649

Down $159,453 (-52%) from 2019

Expenses

Down

$123,928

Down $176,998 (-59%) from 2019

Net Income

Up

$25,721

Up $17,545 (+215%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2020

Assets$1,651,499
Liabilities$217,616
Net Assets$1,433,883
Open 2020 Filing

Operations Trend

Revenue Growth7th 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

2020

Revenue$149,649
Expenses$123,928
Net Income$25,721
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jul 30, 2020
Return Version
2019v5.0
Gross Receipts
$828,103
Mission and Program Overview

Mission

To support the virginia beach public libraries

The virginia beach libary foundation's mission is to secure, manage, and invest publicly raised funds, gifts, and bequests in support of virginia beach libraries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,534,198$1,540,496▲ $6,298
Cash and Non-Interest-Bearing Accounts$110,434$107,003▼ $3,431
Total Assets$1,648,634$1,651,499▲ $2,865
Other Assets Total$4,002$4,000▼ $2
Liabilities
Escrow Account Liability$205,425$215,903▲ $10,478
Accounts Payable and Accrued Expenses$3,324$1,713▼ $1,611
Total Liabilities$208,749$217,616▲ $8,867
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,398,590$1,374,828▼ $23,762
Net Assets Without Donor Restrictions$41,295$59,055▲ $17,760
Total Net Assets Fund Balance$1,439,885$1,433,883▼ $6,002
Total Liabilities and Net Assets / Fund Balance$1,648,634$1,651,499▲ $2,865

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$1,439,885$37,915▲ $80,009$91,349$1,433,881
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$1,450,897$76,245▲ $58,748$82,519$1,446,859
2015$1,450,948$23,000▲ $87,338$57,322$1,450,987
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Robert G Krebs JrPresident
Chelle DavisDirector
Guy TowerDirector
Lee D EntsmingerDirector
Marcy SimsDirector
Morris H Fine EsqDirector
Nancy K ParkerDirector
Nancy OliverDirector
Wanda CooperDirector
Eva PooleExecutive Di
Karen BischoffSecretary
Eric FoxTreasurer
Margaret CampbellVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$37,915
Program Service Revenue
$0
Investment Income
$111,734
Other Revenue
$0
All Other Contributions
$37,915
Change in Net Assets
$25,721
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$123,928
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$10,870-$10,870
Fees for Services Accounting-$6,000-$6,000
All Other Expenses-$523-$523
Advertising-$370-$370
Other Expenses$91,349$369-$369
Travel-$264-$264
Office Expenses-$125-$125
Total Functional Expenses$91,349$32,579$0$123,928
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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, Page 6, Part VI, Line 11B

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

Form 990, Page 6, Part VI, Line 12C

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

Form 990, Page 6, Part VI, Line 19

“The foundation makes it's 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
Phone
7573858128
Address
2416 COURTHOUSE DRIVE BLDG 19, VIRGINIA BEACH, VA 23456

Signing Officer

Name
Eva Poole
Title
Executive Director
Phone
7573858128
Signed
2020-07-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert G Krebs Jr
Formed
2009
Legal Domicile
Va
Voting Board Members
13
Independent Board Members
13
Employees
0

Preparer

Firm
Stewart & Company
Address
2940 N LYNNHAVEN RD, VIRGINIA BEACH, VA 23452
Preparer
William R Stewart
Phone
7574860114
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

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

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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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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt01442889
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0209370
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IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0true
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HOLDS FUNDS AS INTERMEDIARY FOR A SEPARATE ORGANIZATION - THE FRIENDS OF THE LIBRARY, AS PART OF ITS ENDOWMENT INVESTMENTS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION BY-LAWS REQUIRE DIRECTORS TO COMPLY WITH ALL VIRGINIA AND LOCAL LAW CONCERNING CONFLICT OF INTEREST TRANSACTIONS AS DEFINED IN VA CODE SECTION 13.1-871. DIRECTORS MUST DISCLOSE ACTUAL OR POTENTIAL CONFLICTS TO THE BOARD OF DIRECTORS.
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Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,651,499
Liabilities
$217,616
Net assets
$1,433,883
Revenue
$149,649
Expenses
$123,928
Net income
$25,721
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