Civic Intelligence

Virginia Education Foundation

990 • Fiscal year 2024 • EIN 36-4893011

Mar 01, 2023 to Feb 29, 2024 • Filed on Jul 10, 2024

Organization ProfileN/A
1564 West Hoover RoadMadison, VA 22727

(540) 923-4065

Siviq Scores

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

Liabilities / Assets

68th percentile

0.20x

Higher debt load relative to assets than 68% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

68th percentile

0.22x

Higher debt load relative to revenue than 68% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

80th percentile

30%

Higher net margin than 80% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

90th percentile

51%

Faster asset growth than 90% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

45th percentile

5.3%

Faster revenue growth than 45% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$3,038,330

Up $1,030,471 (+51%) from 2023

Net Assets

Up

$2,438,330

Up $930,471 (+62%) from 2023

Liabilities

Up

$600,000

Up $100,000 (+20%) from 2023

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin80th percentile

Revenue

Up

$2,677,886

Up $133,826 (+5.3%) from 2023

Expenses

Up

$1,878,910

Up $61,061 (+3.4%) from 2023

Net Income

Up

$798,976

Up $72,765 (+10%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$6.0M$4.0M$2.0M$0Assets 2019: $214,264Liabilities 2019: $0Net Assets 2019: $214,2642019Assets 2020: $8,829Liabilities 2020: $0Net Assets 2020: $8,8292020Assets 2021: $426,534Liabilities 2021: $0Net Assets 2021: $426,5342021Assets 2022: $1,181,332Liabilities 2022: $100,000Net Assets 2022: $1,081,3322022Assets 2023: $2,007,859Liabilities 2023: $500,000Net Assets 2023: $1,507,8592023Assets 2024: $3,038,330Liabilities 2024: $600,000Net Assets 2024: $2,438,3302024Assets 2025: $4,214,611Liabilities 2025: $700,000Net Assets 2025: $3,514,6112025

Highlighted filing

2024

Assets$3,038,330
Liabilities$600,000
Net Assets$2,438,330
Open 2024 Filing

Operations Trend

Revenue Growth45th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $327,287Expenses 2019: $113,023Net Income 2019: $214,2642019Revenue 2020: $723,247Expenses 2020: $928,682Net Income 2020: -$205,4352020Revenue 2021: $2,349,268Expenses 2021: $1,931,563Net Income 2021: $417,7052021Revenue 2022: $2,534,511Expenses 2022: $1,879,252Net Income 2022: $655,2592022Revenue 2023: $2,544,060Expenses 2023: $1,817,849Net Income 2023: $726,2112023Revenue 2024: $2,677,886Expenses 2024: $1,878,910Net Income 2024: $798,9762024Revenue 2025: $3,319,445Expenses 2025: $2,357,412Net Income 2025: $962,0332025

Highlighted filing

2024

Revenue$2,677,886
Expenses$1,878,910
Net Income$798,976
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Mar 1, 2023 to Feb 29, 2024
Signed
Jul 10, 2024
Return Version
2023v5.1
Gross Receipts
$2,677,886
Mission and Program Overview

Mission

Virginia Education Foundation (VEF) promotes literacy, grade level reading, and school success by providing grants to Virginia Title I public schools and organizations in Virginia that serve the educational needs of low-income children and youth and students with disabilities.

The Virginia Education Foundation promotes literacy, grade level reading, and school success by providing grants and non-cash revenues to Virginia Title I public schools and organizations in Virginia that serve the educational needs of low-income children and youth and students with disabilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,263,117$2,101,360▲ $838,243
Investments in Publicly Traded Securities$266,650$611,573▲ $344,923
Cash and Non-Interest-Bearing Accounts$459,691$314,356▼ $145,335
Land, Buildings, and Equipment, Net$18,401$11,041▼ $7,360
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,007,859$3,038,330▲ $1,030,471
Other Assets Total-$0-
Liabilities
Other Liabilities$500,000$600,000▲ $100,000
Total Liabilities$500,000$600,000▲ $100,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,507,859$2,438,330▲ $930,471
Total Net Assets Fund Balance$1,507,859$2,438,330▲ $930,471
Total Liabilities and Net Assets / Fund Balance$2,007,859$3,038,330▲ $1,030,471

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,041$11,960$23,001
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
George BekerPresident
Jeanna BekerVice President
Arnold E SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,617,583
Program Service Revenue
$0
Investment Income
$60,303
Other Revenue
$0
All Other Contributions
$2,617,583
Change in Net Assets
$798,976

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
Other Non Cash Contri Table1$956,875List Price
Other Non Cash Contri Table1$810,472List Price
Securities Publicly Traded5$227,169Fair Market Value
Total Noncash Contributions7$1,994,516-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,767,347
Salaries, Compensation, and Employee Benefits$100,000
Other Expenses$11,563
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,767,347--$1,767,347
Current Officers, Directors, Trustees, and Key Employees$95,000$5,000-$100,000
Depreciation Depletion$7,360--$7,360
Other Expenses$902$350-$350
All Other Expenses$8--$8
Total Functional Expenses$1,873,560$5,350$0$1,878,910
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Payroll$600,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Two of the board members are husband and wife.”

Form 990, Part VI, Section B, Line 11B

“A draft of the form 990 is reviewed by the President and made available to the entire Board prior to it being filed.”

Form 990, Part VI, Section C, Line 19

“The Organization's governing documents, policies, and financial statements are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Virginia Education Foundation
EIN
36-4893011
Phone
5409234065
Address
1564 West Hoover Road, Madison, VA 22727

Signing Officer

Name
George Beker
Title
President
Signed
2024-07-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Beker
Formed
2018
Legal Domicile
Va
Voting Board Members
3
Independent Board Members
1
Employees
0
Volunteers
3

Preparer

Firm
The Jones Group CPAs & Consultants
Address
400 Southridge Parkway Ste B, Culpeper, VA 22701
Preparer
David M Jones
Phone
5408258005
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The Board assumes responsibility for oversight of the review of the financial statements and for the selection of the independent accountant. There has been no change in this process.”

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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/TotalLiabilityAmt0600000
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt11
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0List Price
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt1List Price
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd1X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt0956875
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt1810472
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt05
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0Fair Market Value
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt0227169
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Two of the board members are husband and wife.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A draft of the form 990 is reviewed by the President and made available to the entire Board prior to it being filed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization's governing documents, policies, and financial statements are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Board assumes responsibility for oversight of the review of the financial statements and for the selection of the independent accountant. There has been no change in this process.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XII, Line 2c
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02007859
IRS990/TotalAssetsEOYAmt03038330
IRS990/TotalAssetsGrp/BOYAmt02007859
IRS990/TotalAssetsGrp/EOYAmt03038330
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02617583
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05350
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01873560
IRS990/TotalFunctionalExpensesGrp/TotalAmt01878910
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0500000
IRS990/TotalLiabilitiesEOYAmt0600000
IRS990/TotalLiabilitiesGrp/BOYAmt0500000
IRS990/TotalLiabilitiesGrp/EOYAmt0600000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01507859
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02438330
IRS990/TotalProgramServiceExpensesAmt01873560
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt060303
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02677886
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02007859
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03038330
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01564 West Hoover Road
IRS990/USAddress/CityNm0Madison
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd022727
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0George Beker
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Virginia Education Foundation
ReturnHeader/Filer/BusinessNameControlTxt0VIRG
ReturnHeader/Filer/EIN0364893011
ReturnHeader/Filer/PhoneNum05409234065
ReturnHeader/Filer/USAddress/AddressLine1Txt01564 West Hoover Road
ReturnHeader/Filer/USAddress/CityNm0Madison
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd022727
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0453740381
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0The Jones Group CPAs & Consultants
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0400 Southridge Parkway Ste B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Culpeper
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd022701
ReturnHeader/PreparerPersonGrp/PhoneNum05408258005
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0David M Jones
ReturnHeader/ReturnTs02024-07-10T06:17:18-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0George
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Beker
ReturnHeader/TaxPeriodBeginDt02023-03-01
ReturnHeader/TaxPeriodEndDt02024-02-29
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,038,330
Liabilities
$600,000
Net assets
$2,438,330
Revenue
$2,677,886
Expenses
$1,878,910
Net income
$798,976
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.21$0.70$3.51$3.32$2.36$0.96
2024Detailed filing. Detailed filing data is available for this year.$3.04$0.60$2.44$2.68$1.88$0.80
2023Detailed filing. Detailed filing data is available for this year.$2.01$0.50$1.51$2.54$1.82$0.73
2022Detailed filing. Detailed filing data is available for this year.$1.18$0.10$1.08$2.53$1.88$0.66
2021Detailed filing. Detailed filing data is available for this year.$0.43$0.00$0.43$2.35$1.93$0.42
2020Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.72$0.93$0.21
2019Detailed filing. Detailed filing data is available for this year.$0.21$0.00$0.21$0.33$0.11$0.21