Civic Intelligence

Beckley Area Foundation Inc.

990 • Fiscal year 2019 • EIN 31-1125328

Apr 01, 2018 to Mar 31, 2019 • Filed on Jul 01, 2019

129 Main Street No 301Beckley, WV 25801

(304) 253-3806

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

10th percentile

0.03x

Higher debt load relative to revenue than 10% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Net Margin

92nd percentile

50%

Higher net margin than 92% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

11th percentile

$89,354

Higher top officer pay than 11% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2019

Asset Growth

41st percentile

2.1%

Faster asset growth than 41% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

85th percentile

27%

Faster revenue growth than 85% of similar nonprofits.

2019 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Assets

Up

$42,371,477

Up $884,602 (+2.1%) from 2018

Net Assets

Up

$42,253,449

Up $853,741 (+2.1%) from 2018

Liabilities

Up

$118,028

Up $30,861 (+35%) from 2018

Revenue

Up

$3,752,185

Up $789,241 (+27%) from 2018

Expenses

Up

$1,865,410

Up $219,486 (+13%) from 2018

Net Income

Up

$1,886,775

Up $569,755 (+43%) from 2018

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2015: $37,446,904Liabilities 2015: $35,079Net Assets 2015: $37,411,8252015Assets 2016: $36,524,784Liabilities 2016: $79,468Net Assets 2016: $36,445,3162016Assets 2017: $39,282,916Liabilities 2017: $61,011Net Assets 2017: $39,221,9052017Assets 2018: $41,486,875Liabilities 2018: $87,167Net Assets 2018: $41,399,7082018Assets 2019: $42,371,477Liabilities 2019: $118,028Net Assets 2019: $42,253,4492019Assets 2020: $39,045,727Liabilities 2020: $187,504Net Assets 2020: $38,858,2232020Assets 2021: $50,852,690Liabilities 2021: $268,373Net Assets 2021: $50,584,3172021Assets 2022: $64,066,072Liabilities 2022: $354,810Net Assets 2022: $63,711,2622022Assets 2023: $60,688,007Liabilities 2023: $48,714Net Assets 2023: $60,639,2932023Assets 2024: $74,023,113Liabilities 2024: $18,053Net Assets 2024: $74,005,0602024Assets 2025: $79,172,107Liabilities 2025: $52,574Net Assets 2025: $79,119,5332025

Highlighted filing

2019

Assets$42,371,477
Liabilities$118,028
Net Assets$42,253,449

Operations Trend

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

$20M$15M$10M$5.0M$0Revenue 2015: $3,051,491Expenses 2015: $1,439,912Net Income 2015: $1,611,5792015Revenue 2016: $2,195,567Expenses 2016: $1,405,814Net Income 2016: $789,7532016Revenue 2017: $2,085,566Expenses 2017: $1,648,128Net Income 2017: $437,4382017Revenue 2018: $2,962,944Expenses 2018: $1,645,924Net Income 2018: $1,317,0202018Revenue 2019: $3,752,185Expenses 2019: $1,865,410Net Income 2019: $1,886,7752019Revenue 2020: $2,527,673Expenses 2020: $1,897,179Net Income 2020: $630,4942020Revenue 2021: $2,563,601Expenses 2021: $2,107,440Net Income 2021: $456,1612021Revenue 2022: $16,558,087Expenses 2022: $2,145,495Net Income 2022: $14,412,5922022Revenue 2023: $4,467,832Expenses 2023: $2,341,381Net Income 2023: $2,126,4512023Revenue 2024: $9,766,173Expenses 2024: $2,300,697Net Income 2024: $7,465,4762024Revenue 2025: $9,354,960Expenses 2025: $3,952,546Net Income 2025: $5,402,4142025

Highlighted filing

2019

Revenue$3,752,185
Expenses$1,865,410
Net Income$1,886,775
Jump To
Filing Snapshot
Filing Period
Apr 1, 2018 to Mar 31, 2019
Signed
Jul 1, 2019
Return Version
2018v3.1
Gross Receipts
$12,345,307
Mission and Program Overview

Mission

To build a better area in which all of its citizens can enjoy life, work, play and retirement.

To build a better area in which all of its citizens can enjoy life - work, play and retirement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$40,496,070$37,563,156▼ $2,932,914
Savings and Temporary Cash Investments$686,513$4,429,188▲ $3,742,675
Cash and Non-Interest-Bearing Accounts$115,581$167,549▲ $51,968
Land, Buildings, and Equipment, Net$64,372$60,155▼ $4,217
Prepaid Expenses and Deferred Charges$9,694$20,519▲ $10,825
Total Assets$41,486,875$42,371,477▲ $884,602
Other Assets Total$114,645$130,910▲ $16,265
Liabilities
Deferred Revenue$30,121$78,715▲ $48,594
Grants Payable$50,499$38,801▼ $11,698
Accounts Payable and Accrued Expenses$6,547$512▼ $6,035
Total Liabilities$87,167$118,028▲ $30,861
Net Assets / Fund Balance
Permanently Rstr Net Assets$26,425,031$26,971,879▲ $546,848
Temporarily Rstr Net Assets$8,331,056$8,457,725▲ $126,669
Unrestricted Net Assets$6,643,621$6,823,845▲ $180,224
Total Net Assets Fund Balance$41,399,708$42,253,449▲ $853,741
Total Liabilities and Net Assets / Fund Balance$41,486,875$42,371,477▲ $884,602

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,503$38,033$49,536
Land$45,813-$45,813
Leasehold Improvements$2,839$3,437$6,276

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$41,255,744$827,166▲ $1,857,551-$42,085,473
2017$39,045,542$598,142▲ $3,223,907-$41,255,744
2016$36,265,110$911,080▲ $3,484,422-$39,045,542
2015$37,249,025$668,571▼ $266,743-$36,265,110
2014$34,932,676$1,583,861▲ $2,082,743-$37,249,025
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dena CushmanExecutive DirectorFT$89,354$89,354
Rebecca WilliamsCFOFT$63,938$63,938

Board Members and Trustees

NameTitle
Cynthia TurnerPresident
Christopher VaughtVice President
Amanda SauchuckDirector
Beth JarrellDirector
Deena SalonDirector
Dr Kevin H BaileyDirector
Forest H LynchDirector
Gavin WardDirector
Lee MilamDirector
Margaret NjokuDirector
Patty JohnstonDirector
Raymond MortonDirector
Steven BallardDirector
Tom LemkeSecretary
Robert N FileTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$838,255
Program Service Revenue
$0
Investment Income
$2,913,930
Other Revenue
$0
All Other Contributions
$838,255
Change in Net Assets
$1,886,775

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded4$26,599Publicly Traded Stock
Total Noncash Contributions4$26,599-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,627,700
Revenue Not Reported on Financial Statements
$124,485
Revenue Not Reported on Form 990
$-1,033,034
Total Revenue per Audited Statements
$2,594,666
Total Revenue per Form 990
$3,752,185
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,396,446
Salaries, Compensation, and Employee Benefits$259,043
Other Expenses$209,921
Total Fundraising Expense$2,761
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,396,446--$1,396,446
Current Officers, Directors, Trustees, and Key Employees-$148,864$1,504$150,368
Fees for Service Investment Mgmnt Fees-$124,485-$124,485
Other Salaries and Wages-$89,364$903$90,267
Payroll Taxes-$18,224$184$18,408
Office Expenses-$16,793$170$16,963
Information Technology-$12,625-$12,625
Fees for Services Accounting-$10,000-$10,000
All Other Expenses-$9,547-$9,547
Advertising-$7,216-$7,216
Occupancy-$6,243-$6,243
Conferences and Meetings-$6,057-$6,057
Insurance-$4,983-$4,983
Depreciation Depletion-$4,217-$4,217
Other Expenses-$3,168-$3,168
Travel-$562-$562
Total Functional Expenses$1,396,446$466,203$2,761$1,865,410

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,865,410
Expenses per Audited Statements$1,740,925
Total Expenses per Audited Statements$1,740,925
Expenses Not Reported on Financial Statements$124,485
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ymca of Southern West VirginiaBeckley, WV501(c)(3)Annual Distribution and Soccer Complex$69,408
Beckley Presbyterian ChurchBeckley, WVChurchAnnual Distribution$54,055
Humane Society of Raleigh CountyBeckley, WV501(c)(3)Annual Distribution and Spay / Neuter Program$40,768
Hospice of Southern West Virginia IncBeckley, WV501(c)(3)Annual Distribution and Handicap Parking$32,779
Helping Hands Resource CenterBeckley, WV501(c)(3)Food Pantry$28,885
University of Charleston - BeckleyBeckley, WV501(c)(3)Annual Distribution$27,372
WOMEN'S RESOURCE CENTERBeckley, WV501(c)(3)Annual Distribution$25,712
Just for KidsBeckley, WV501(c)(3)Annual Distribution and Program Support$20,578
Salvation ArmyBeckley, WV501(c)(3)Annual Distribution, Program Support$14,542
United Way of Southern West VirginiaBeckley, WV501(c)(3)Annual Distribution and Parking Lot$14,452
Beckley Concert AssociationBeckley, WV501(c)(3)Annual Distribution, Educational Outreach and Program Support$14,314
Greenbrier Valley TheatreLewisburg, WV501(c)(3)Annual Distribution$12,678
Raleigh County Board of EducationBeckley, WVGovSchool Programs$11,122
City of BeckleyBeckley, WVGovAnnual Distribution and Recreation Program Support$10,706
Shady Spring High SchoolShady Spring, WVGovSchool Programs$10,425
Theatre West VirginiaBeckley, WV501(c)(3)Annual Distribution and Program Support$10,291
THE CARPENTER'S CORNERBeckley, WV501(c)(3)Food Pantry$9,800
United Methodist TempleBeckley, WVChurchAnnual Distribution and F.o.l.k. Program for Children$9,707
Mabscott ElementaryMabscott, WVGovSchool Programs$9,138
Bread of Life Outreach CenterNaoma, WV501(c)(3)Food Pantry and Emergency Shelter$9,000
West Virginia Public BroadcastingCharleston, WVGovAnnual Distribution$8,905
Woodrow Wilson High SchoolBeckley, WVGovSchool Programs$8,824
Three Rivers Avian CenterHinton, WV501(c)(3)Annual Distribution and Migration Celebration$8,496
BRIAN'S SAFEHOUSEBeckley, WV501(c)(3)Program Support$8,349
Beckley Elementary SchoolBeckley, WVGovSchool Programs$8,238
Hinton Area FoundationHinton, WV501(c)(3)4-h Camp and Grant Program$8,100
Beckley Art Group IncBeckley, WV501(c)(3)Annual Distribution and Gallery Gift Shop$8,099
Trap Hill-liberty Citizens Scholarship FoundationBolt, WV501(c)(3)Annual Distribution$8,000
ROYAL FAMILY KIDS' CAMPSBeckley, WV501(c)(3)Support for Summer Camp for Foster Children$7,250
First Christian ChurchBeckley, WVChurchAnnual Distribution$7,120
SHEPHERD'S TABLEShady Spring, WV501(c)(3)Food Pantry$7,002
Beckley Health Right IncBeckley, WV501(c)(3)Dental Program$7,000
New River Gorge Regional Development AuthorityBeckley, WVGovProgram Support$7,000
Trap Hill Little LeagueBolt, WV501(c)(3)Sanitary Facility$7,000
Bucksin Council Boy Scouts of AmericaCharleston, WV501(c)(3)Program Support$6,609
Beaver Lions ClubBeaver, WV501(c)(3)Handicap Access$6,500
St Francis Desales Catholic SchoolBeckley, WV501(c)(3)Annual Distribution$6,379
Beckley Dream CenterBeckley, WV501(c)(3)Meals for Those in Need$6,208
Fayette County Public LibraryOak Hill, WVGovAnnual Distribution$6,185
Raleigh County Public LibraryBeckley, WVGovLiteracy Program and Bookmobile$6,184
Ghent Elementary SchoolGhent, WVGovSchool Programs$6,154
St Stephens Episcopal ChurchBeckley, WVChurchAnnual Distribution$6,064
Mountain State Bar AssociationHuntington, WV501(c)(3)Annual Distribution$5,819
Raleigh County Commission on AgingBeckley, WVGovProgram Support$5,662
Appalachian Bible CollegeMt Hope, WV501(c)(3)Annual Distribution$5,607
Fairdale Elementary SchoolFairdale, WVGovSchool Programs$5,582
One Voice IncBeckley, WV501(c)(3)Food Pantry$5,500
Wvu Foundation IncMorgantown, WV501(c)(3)Laptops$5,400
Marsh Fork High School Alumni Association IncArnett, WV501(c)(3)Roadside Park$5,200
First Baptist ChurchBeckley, WVChurchAnnual Distribution$5,192
Lillian James Learning CenterCrab Orchard, WV501(c)(3)Vehicle Expenses and Maintenance$5,006
New River Gorge Trail AllianceFayetteville, WV501(c)(3)Buses and Bikes$5,000
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
No
Annual disclosure for covered persons
Yes
Audit committee
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
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

The completed form 990 was presented to the foundation's executive director, cfo and executive committee for review prior to filing.

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

Each employee and director is given a copy of the conflict of interest policy and returns a disclosure of compliance or non-compliance.

Form 990, Part VI, Section B, Line 15A

Executive director's compensation is reviewed annually by the board of directors. Main factors are job performance and compensation of similar positions at comparably sized foundations.

Form 990, Part VI, Section C, Line 19

Beckley area foundation's governing documents, conficts of interest policy, and financial statements are made available to the public upon request. In addition, our financial statement are made available to the public through their publication in our annual report, 4100 copies of which are distributed annually, as well as when we file annually as a charitable organization with the west virginia secretary of state's office.

Filing and Contact Details

Filer

Filer Name
Beckley Area Foundation Inc
EIN
31-1125328
Phone
3042533806
Address
129 MAIN STREET NO 301, BECKLEY, WV 25801

Signing Officer

Name
Dena Cushman
Title
Executive Director
Phone
3042533806
Signed
2019-07-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dena Cushman
Formed
1985
Legal Domicile
Wv
Voting Board Members
15
Independent Board Members
15
Employees
5
Volunteers
130

Preparer

Firm
RICHMOND & COMPANY CPA'S AC
Address
PO BOX 1204, BECKLEY, WV 25802-1204
Preparer
Rolfe a Richmond
Phone
3042527353
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in cash value of life insurance 2,496.

Financial Statement Notes

PART V, LINE 4:

Income generated by endowment fund investments is used to meet the community's charitable needs by providing grants in the fields of education, health and human services, the arts, public recreation and beautification.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in cash value of life insurance

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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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