Civic Intelligence

Beckley Area Foundation Inc.

990 • Fiscal year 2022 • EIN 31-1125328

Apr 01, 2021 to Mar 31, 2022 • Filed on Jul 29, 2022

1210 S Kanawha StreetBeckley, WV 25801

(304) 253-3806

Siviq Scores

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

Liabilities / Assets

9th percentile

0.01x

Higher debt load relative to assets than 9% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

7th percentile

0.02x

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

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

97th percentile

87%

Higher net margin than 97% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

8th percentile

$97,409

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

87th percentile

26%

Faster asset growth than 87% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

99th percentile

546%

Faster revenue growth than 99% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Assets

Up

$64,066,072

Up $13,213,382 (+26%) from 2021

Net Assets

Up

$63,711,262

Up $13,126,945 (+26%) from 2021

Liabilities

Up

$354,810

Up $86,437 (+32%) from 2021

Revenue

Up

$16,558,087

Up $13,994,486 (+546%) from 2021

Expenses

Up

$2,145,495

Up $38,055 (+1.8%) from 2021

Net Income

Up

$14,412,592

Up $13,956,431 (+3060%) from 2021

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

2022

Assets$64,066,072
Liabilities$354,810
Net Assets$63,711,262

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

2022

Revenue$16,558,087
Expenses$2,145,495
Net Income$14,412,592
Jump To
Filing Snapshot
Filing Period
Apr 1, 2021 to Mar 31, 2022
Signed
Jul 29, 2022
Return Version
2021v4.2
Gross Receipts
$25,263,418
Mission and Program Overview

Mission

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

To inspire and facilitate generous charitable giving that advances our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$49,295,379$60,991,726▲ $11,696,347
Savings and Temporary Cash Investments$1,057,619$2,105,153▲ $1,047,534
Land, Buildings, and Equipment, Net$53,056$554,969▲ $501,913
Cash and Non-Interest-Bearing Accounts$309,412$277,310▼ $32,102
Prepaid Expenses and Deferred Charges$18,508$16,264▼ $2,244
Total Assets$50,852,690$64,066,072▲ $13,213,382
Other Assets Total$118,716$120,650▲ $1,934
Liabilities
Mortgage Notes Payable Secured by Investment Property-$196,034-
Grants Payable$53,254$71,600▲ $18,346
Deferred Revenue$200,000$67,547▼ $132,453
Accounts Payable and Accrued Expenses$15,119$19,629▲ $4,510
Total Liabilities$268,373$354,810▲ $86,437
Net Assets / Fund Balance
Net Assets With Donor Restrictions$41,111,790$53,459,875▲ $12,348,085
Net Assets Without Donor Restrictions$9,472,527$10,251,387▲ $778,860
Total Net Assets Fund Balance$50,584,317$63,711,262▲ $13,126,945
Total Liabilities and Net Assets / Fund Balance$50,852,690$64,066,072▲ $13,213,382

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$462,344$3,074$465,418
Equipment$46,812$35,981$82,793
Land$45,813-$45,813

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$50,399,354$12,420,163▲ $2,392,170-$63,121,208
2020$38,704,369$797,188▲ $12,861,898-$50,399,354
2019$42,085,473$918,620▼ $2,419,375-$38,704,369
2018$41,255,744$827,166▲ $1,857,551-$42,085,473
2017$39,045,542$598,142▲ $3,223,907-$41,255,744
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dena CushmanExecutive DirectorFT$97,409$97,409
Rebecca WilliamsCFOFT$74,058$74,058

Board Members and Trustees

NameTitle
Christopher VaughtPresident
Tom LemkeVice President
Amanda SauchuckDirector
Deena SalonDirector
Dr Kevin H BaileyDirector
Gavin WardDirector
Jereme EvansDirector
John BeasleyDirector
Julie KominskyDirector
Lee MilamDirector
Raymond MortonDirector
Sabrina TriplettDirector
Steven BallardDirector
Ann WorleySecretary
Douglas RamsdenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$12,880,298
Program Service Revenue
$0
Investment Income
$3,677,789
Other Revenue
$0
All Other Contributions
$12,880,298
Change in Net Assets
$14,412,592

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 Traded14$6,867,837Publicly Traded Stock
Total Noncash Contributions14$6,867,837-

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,410,462
Revenue Not Reported on Financial Statements
$147,625
Revenue Not Reported on Form 990
$-1,285,647
Total Revenue per Audited Statements
$15,124,815
Total Revenue per Form 990
$16,558,087
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,604,771
Salaries, Compensation, and Employee Benefits$292,667
Other Expenses$248,057
Total Fundraising Expense$8,264
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,604,771--$1,604,771
Current Officers, Directors, Trustees, and Key Employees-$169,575$4,652$174,227
Fees for Service Investment Mgmnt Fees-$147,625-$147,625
Other Salaries and Wages-$95,044$2,598$97,642
Payroll Taxes-$20,244$554$20,798
All Other Expenses$4,267$14,320-$18,587
Office Expenses-$16,780$460$17,240
Fees for Services Accounting-$10,000-$10,000
Information Technology-$9,730-$9,730
Occupancy-$8,454-$8,454
Depreciation Depletion-$8,435-$8,435
Advertising-$8,112-$8,112
Insurance-$7,208-$7,208
Other Expenses-$2,760-$2,760
Conferences and Meetings-$1,857-$1,857
Interest-$706-$706
Fees for Services Legal-$377-$377
Total Functional Expenses$1,609,038$528,193$8,264$2,145,495

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,145,495
Expenses per Audited Statements$1,997,870
Total Expenses per Audited Statements$1,997,870
Expenses Not Reported on Financial Statements$147,625
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Humane Society of Raleigh CountyBeckley, WV501(c)(3)Annual Distribution and Spay / Neuter Program$64,412
Just for KidsBeckley, WV501(c)(3)Annual Distribution and Program Support$62,364
Beckley Presbyterian ChurchBeckley, WVChurchAnnual Distribution$57,892
Hospice of Southern West Virginia IncBeckley, WV501(c)(3)Annual Distribution and Capital Projects$41,522
WOMEN'S RESOURCE CENTERBeckley, WV501(c)(3)Annual Distribution$29,789
Helping Hands Resource CenterBeckley, WV501(c)(3)Food Pantry$22,000
University of Charleston - BeckleyBeckley, WV501(c)(3)Annual Distribution$21,342
Trap Hill High School Alumni AssociationHarper, WV501(c)(3)Annual Distribution$20,064
MAC'S TOY FUNDBeckley, WV501(c)(3)Annual Distribution$20,000
Ymca of Southern West VirginiaBeckley, WV501(c)(3)Annual Distribution$17,606
City of BeckleyBeckley, WVGovAnnual Distribution and Program Support$16,812
Salvation ArmyBeckley, WV501(c)(3)Annual Distribution, Program Support$15,758
West Virginia Public Broadcasting FoundationCharleston, WV501(c)(3)Annual Distribution$14,859
Greenbrier Valley TheatreLewisburg, WV501(c)(3)Annual Distribution$13,997
BRIAN'S SAFEHOUSEBeckley, WV501(c)(3)Program Support$13,546
THE CARPENTER'S CORNERBeckley, WV501(c)(3)Food Pantry$12,647
Piney Creek Watershed AssociationBeckley, WV501(c)(3)Program Support$12,305
United Methodist TempleBeckley, WV501(c)(3)Annual Distribution$11,288
Raleigh County Board of EducationBeckley, WVGovSchool Programs$11,193
Beckley Concert AssociationBeckley, WV501(c)(3)Annual Distribution$10,059
Raleigh County Animal RescueCoal City, WV501(c)(3)Program Support$8,933
Trap Hill-liberty Citizens Scholarship FoundationBolt, WV501(c)(3)Annual Distribution$8,806
Beckley-stratton Middle SchoolBeckley, WVGovSchool Programs$7,956
Raleigh County Public LibraryBeckley, WVGovLiteracy Program and Bookmobile$7,577
Bread of Life Outreach CenterNaoma, WV501(c)(3)Food Pantry$7,540
United Way of Southern West VirginiaBeckley, WV501(c)(3)Annual Distribution$7,144
Ghent Volunteer Fire DepartmentGhent, WV501(c)(3)Safety Equipment$7,121
Raleigh County 4-hBeckley, WV501(c)(3)Program Support$7,011
Beckley Health Right IncBeckley, WV501(c)(3)Dental Program$7,000
Brccc Foundation IncBeckley, WV501(c)(3)Program Support$7,000
Appalachian Bible CollegeMt Hope, WV501(c)(3)Annual Distribution$6,958
Fayette County Public LibraryOak Hill, WVGovAnnual Distribution$6,760
St Stephens Episcopal ChurchBeckley, WVChurchAnnual Distribution$6,675
First Christian ChurchBeckley, WVChurchAnnual Distribution$6,585
Raleigh County Community Action AssociationBeckley, WV501(c)(3)Program Support$6,569
St Francis Desales Catholic SchoolBeckley, WV501(c)(3)Annual Distribution$6,312
Raleigh County Historical SocietyBeckley, WV501(c)(3)Program Support$6,269
Beckley Art Group IncBeckley, WV501(c)(3)Program Support$6,035
Raleigh County All StarsBeckley, WV501(c)(3)Program Support$6,000
Southern Appalachian Labor School FoundationKincaid, WV501(c)(3)Program Support$6,000
Wvu Foundation IncMorgantown, WV501(c)(3)Portable Computer Lab for K-12 Schools$5,620
Wv Hive NetworkBeckley, WV501(c)(3)Program Support$5,500
Sophia Christian AcademySophia, WV501(c)(3)Program Support$5,488
BECKLEY CHILDREN'S THEATREBeckley, WV501(c)(3)Program Support$5,099
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
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
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, 1300 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
1210 S KANAWHA STREET, BECKLEY, WV 25801

Signing Officer

Name
Dena Cushman
Title
Executive Director
Phone
3042533806
Signed
2022-07-29
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
7
Volunteers
200

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 1,538.

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

Raw XML AppendixShowing 400 of 995 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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