Civic Intelligence

Friends of Bermuda Community Foundation

EIN 38-3938349 • 501(c)3 • Hamilton, BD

Profile

To facilitate grants to bermuda not-for-profit agencies.

Sterling House 16 Wesley St 3rdHamilton HM 11Bd

www.bermudacommunityfoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

85th percentile

0.57x

Higher debt load relative to assets than 85% of similar nonprofits.

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

Liabilities / Revenue

45th percentile

0.05x

Higher debt load relative to revenue than 45% of similar nonprofits.

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

Net Margin

42nd percentile

1.1%

Higher net margin than 42% of similar nonprofits.

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.

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

Asset Growth

94th percentile

97%

Faster asset growth than 94% of similar nonprofits.

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

Revenue Growth

71st percentile

25%

Faster revenue growth than 71% of similar nonprofits.

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

Assets

Up

$248,922

Up $122,648 (+97%) from 2023

Liabilities

Up

$141,750

Up $92,772 (+189%) from 2023

Net Assets

Up

$107,172

Up $29,876 (+39%) from 2023

Revenue

Up

$2,662,124

Up $533,479 (+25%) from 2023

Expenses

Up

$2,632,248

Up $536,035 (+26%) from 2023

Net Income

Down

$29,876

Down $2,556 (-7.9%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2015: $20,463Liabilities 2015: $0Net Assets 2015: $20,4632015Assets 2016: $344,406Liabilities 2016: $0Net Assets 2016: $344,4062016Assets 2017: $104,009Liabilities 2017: $0Net Assets 2017: $104,0092017Assets 2018: $130,848Liabilities 2018: $0Net Assets 2018: $130,8482018Assets 2019: $500,639Liabilities 2019: $0Net Assets 2019: $500,6392019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $258,050Liabilities 2021: $0Net Assets 2021: $258,0502021Assets 2022: $49,548Liabilities 2022: $4,684Net Assets 2022: $44,8642022Assets 2023: $126,274Liabilities 2023: $48,978Net Assets 2023: $77,2962023Assets 2024: $248,922Liabilities 2024: $141,750Net Assets 2024: $107,1722024

Highlighted filing

2024

Assets$248,922
Liabilities$141,750
Net Assets$107,172

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $2,082,175Expenses 2015: $2,061,712Net Income 2015: $20,4632015Revenue 2016: $2,228,254Expenses 2016: $1,904,311Net Income 2016: $323,9432016Revenue 2017: $1,335,372Expenses 2017: $1,575,769Net Income 2017: -$240,3972017Revenue 2018: $1,100,206Expenses 2018: $1,073,367Net Income 2018: $26,8392018Revenue 2019: $1,698,513Expenses 2019: $1,328,722Net Income 2019: $369,7912019Revenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $2,243,657Expenses 2021: $2,066,564Net Income 2021: $177,0932021Revenue 2022: $2,604,309Expenses 2022: $2,560,342Net Income 2022: $43,9672022Revenue 2023: $2,128,645Expenses 2023: $2,096,213Net Income 2023: $32,4322023Revenue 2024: $2,662,124Expenses 2024: $2,632,248Net Income 2024: $29,8762024

Highlighted filing

2024

Revenue$2,662,124
Expenses$2,632,248
Net Income$29,876

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2025
Return Version
2023v6.0
Gross Receipts
$2,662,124
Mission and Program Overview

Mission

To facilitate grants to bermuda not-for-profit agencies.

To promote and support the purposes and activities of not-for-profit organizations in bermuda whose purposes are consistent with section 501(c)(3) of the internal revenue code.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$126,273$248,922▲ $122,649
Cap Stk Tr Prin Current Funds$77,296$107,172▲ $29,876
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
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$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$126,273$248,922▲ $122,649
Other Assets Total$0$0→ $0
Liabilities
Grants Payable$38,977$141,750▲ $102,773
Accounts Payable and Accrued Expenses$10,000$0▼ $10,000
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
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$48,977$141,750▲ $92,773
Net Assets / Fund Balance
Total Net Assets Fund Balance$77,296$107,172▲ $29,876
Total Liabilities and Net Assets / Fund Balance$126,273$248,922▲ $122,649
Compensation and Service Providers

Board Members and Trustees

NameTitle
Myra VirgilPresident
Peter LogieVice-President / Treasurer
Sarah MarcotteAccounting Support
Lisa SimpsonAssistant Secretary
William HolmesSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,662,124
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,662,124
Change in Net Assets
$29,876
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,620,996
Other Expenses$11,252
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$2,620,996--$2,620,996
Fees for Services Other-$11,252-$11,252
Total Functional Expenses$2,620,996$11,252$0$2,632,248
International Activity

International Summary

Offices
1
Employees
0
Spending
$2,620,996

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanGrantmakingSee Statement to Parti10$2,620,996
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
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
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6

Friends of bermuda community foundation has one member, bermuda community foundation.

Form 990, Part VI, Line 7A

Board members of the Friends of Bermuda Community Foundation are appointed by the Board of the Bermuda Community Foundation.

Form 990, Part VI, Line 11B

The form 990 is prepared by pricewaterhousecoopers and reviewed by myra virgil, board president, and the remaining board members. Any questions/issues are discussed and resolved prior to filing of the final form 990 with the irs.

Form 990, Part VI, Line 19

Friends of bermuda community foundation publishes its business plan on its website.

Filing and Contact Details

Filer

Filer Name
Friends of Bermuda Community Foundation
EIN
38-3938349
In Care Of
% MYRA VIRGIL
Phone
4412944959
Address
BD

Signing Officer

Name
Myra Virgil
Title
President
Phone
0000000000
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Myra Virgil
Formed
2014
Legal Domicile
De
Voting Board Members
3
Independent Board Members
5
Employees
0

Preparer

Firm
Pricewaterhousecoopers
Address
BD
Phone
4412952000
Supplemental Narrative

Financial Statement Notes

Form 990, Schedule D, Part XIII

Grants are made to the Bermuda Community Foundation for the purposes of a donor establishing a charitable endowment or programmatic fund or for fiscal sponsorship to a recognized Bermuda-based charity or a not-for-profit/charitable programme. The endowment contributions are pooled and invested for the benefit of the designated charity or larger charitable fund in the investment fund.

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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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IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02662124
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02128645
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02603759
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02243657
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01774011
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt011412196
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt011412196
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02662124
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02128645
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02603759
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02243657
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01774011
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt011412196
IRS990ScheduleA/TotalSupportAmt011412196
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DisclosedForCharitablePrpsInd0true
IRS990ScheduleD/DisclosedOrgLegCtrlInd0true
IRS990ScheduleD/DonorAdvisedFundsContriAmt02662124
IRS990ScheduleD/DonorAdvisedFundsGrantsAmt02620996
IRS990ScheduleD/DonorAdvisedFundsHeldCnt01
IRS990ScheduleD/DonorAdvisedFundsVlEOYAmt0107172
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Grants are made to the Bermuda Community Foundation for the purposes of a donor establishing a charitable endowment or programmatic fund or for fiscal sponsorship to a recognized Bermuda-based charity or a not-for-profit/charitable programme. The endowment contributions are pooled and invested for the benefit of the designated charity or larger charitable fund in the investment fund.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Schedule D, Part XIII
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt02620996
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Central America and the Caribbean
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0SEE STATEMENT TO PARTI
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Grantmaking
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0true
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt01
IRS990ScheduleF/SubtotalSpentAmt02620996
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF TRUSTEES REQUIRES POTENTIAL GRANTEES TO FURNISH INFORMATION AS DEEMED APPROPRIATE TO PERMIT THE BOARD TO DETERMINE IF THE USE OF THE FUNDS DONATED BY THE FRIENDS OF BERMUDA COMMUNITY FOUNDATION IS CHARITABLE AS DEFINED UNDER SECTION 501(c)(3) OF THE CODE. THE BOARD OF TRUSTEES REVIEWS ALL REQUESTS FOR GRANTS AND FINANCIAL ASSISTANCE AND ONLY AUTHORIZES PAYMENT UPON THE RECEIPT OF APPROPRIATE SUPPORT DOCUMENTATION.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Schedule F, Part I, Line 2
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt01
IRS990ScheduleF/TotalSpentAmt02620996
IRS990ScheduleF/TransferToForeignCorpInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FRIENDS OF BERMUDA COMMUNITY FOUNDATION HAS ONE MEMBER, BERMUDA COMMUNITY FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board members of the Friends of Bermuda Community Foundation are appointed by the Board of the Bermuda Community Foundation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS PREPARED BY PRICEWATERHOUSECOOPERS AND REVIEWED BY MYRA VIRGIL, BOARD PRESIDENT, AND THE REMAINING BOARD MEMBERS. ANY QUESTIONS/ISSUES ARE DISCUSSED AND RESOLVED PRIOR TO FILING OF THE FINAL FORM 990 WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FRIENDS OF BERMUDA COMMUNITY FOUNDATION PUBLISHES ITS BUSINESS PLAN ON ITS WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0126273
IRS990/TotalAssetsEOYAmt0248922
IRS990/TotalAssetsGrp/BOYAmt0126273
IRS990/TotalAssetsGrp/EOYAmt0248922
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt02662124
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011252
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02620996
IRS990/TotalFunctionalExpensesGrp/TotalAmt02632248
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt048977
IRS990/TotalLiabilitiesEOYAmt0141750
IRS990/TotalLiabilitiesGrp/BOYAmt048977
IRS990/TotalLiabilitiesGrp/EOYAmt0141750
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt077296
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0107172
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02620996
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02662124
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0126273
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0248922
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.bermudacommunityfoundation.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true

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