Civic Intelligence

Virginia Highlands Community College Educational Foundation Inc.

990 • Fiscal year 2016 • EIN 52-1225133

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 24, 2017

PO Box 828Abingdon, VA 24212

(276) 739-2473

Siviq Scores

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

Liabilities / Assets

51st percentile

0.11x

Higher debt load relative to assets than 51% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

61st percentile

0.19x

Higher debt load relative to revenue than 61% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

15th percentile

-20%

Higher net margin than 15% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

41st percentile

$40,000

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

36th percentile

-1.8%

Faster asset growth than 36% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

82nd percentile

29%

Faster revenue growth than 82% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$1,911,893

Down $35,894 (-1.8%) from 2015

Net Assets

Down

$1,704,551

Down $214,995 (-11%) from 2015

Liabilities

Up

$207,342

Up $179,101 (+634%) from 2015

Revenue

Up

$1,087,881

Up $242,327 (+29%) from 2015

Expenses

Up

$1,302,876

Up $703,925 (+118%) from 2015

Net Income

Down

-$214,995

Down $461,598 (-187%) from 2015

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $1,537,876Liabilities 2011: $83,163Net Assets 2011: $1,454,7132011Assets 2012: $1,653,978Liabilities 2012: $77,932Net Assets 2012: $1,576,0462012Assets 2013: $1,595,508Liabilities 2013: $96,718Net Assets 2013: $1,498,7902013Assets 2014: $1,714,648Liabilities 2014: $41,705Net Assets 2014: $1,672,9432014Assets 2015: $1,947,787Liabilities 2015: $28,241Net Assets 2015: $1,919,5462015Assets 2016: $1,911,893Liabilities 2016: $207,342Net Assets 2016: $1,704,5512016Assets 2017: $2,188,757Liabilities 2017: $450,000Net Assets 2017: $1,738,7572017Assets 2018: $5,035,622Liabilities 2018: $340,000Net Assets 2018: $4,695,6222018Assets 2019: $5,259,242Liabilities 2019: $7,105Net Assets 2019: $5,252,1372019Assets 2020: $5,484,043Liabilities 2020: $19,315Net Assets 2020: $5,464,7282020Assets 2021: $7,575,672Liabilities 2021: $289,235Net Assets 2021: $7,286,4372021Assets 2022: $7,240,510Liabilities 2022: $548,139Net Assets 2022: $6,692,3712022Assets 2023: $7,999,764Liabilities 2023: $109,306Net Assets 2023: $7,890,4582023Assets 2024: $11,486,426Liabilities 2024: $132,042Net Assets 2024: $11,354,3842024Assets 2025: $11,947,638Liabilities 2025: $59,568Net Assets 2025: $11,888,0702025

Highlighted filing

2016

Assets$1,911,893
Liabilities$207,342
Net Assets$1,704,551

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $791,749Expenses 2011: $554,894Net Income 2011: $236,8552011Revenue 2012: $923,877Expenses 2012: $776,785Net Income 2012: $147,0922012Expenses 2013: $704,1882013Revenue 2014: $771,180Expenses 2014: $597,027Net Income 2014: $174,1532014Revenue 2015: $845,554Expenses 2015: $598,951Net Income 2015: $246,6032015Revenue 2016: $1,087,881Expenses 2016: $1,302,876Net Income 2016: -$214,9952016Revenue 2017: $1,086,418Expenses 2017: $1,052,212Net Income 2017: $34,2062017Revenue 2018: $4,336,863Expenses 2018: $1,379,998Net Income 2018: $2,956,8652018Revenue 2019: $1,059,688Expenses 2019: $503,189Net Income 2019: $556,4992019Revenue 2020: $988,084Expenses 2020: $775,494Net Income 2020: $212,5902020Revenue 2021: $2,446,103Expenses 2021: $621,069Net Income 2021: $1,825,0342021Revenue 2022: $633,682Expenses 2022: $842,327Net Income 2022: -$208,6452022Revenue 2023: $1,426,155Expenses 2023: $409,084Net Income 2023: $1,017,0712023Revenue 2024: $3,753,756Expenses 2024: $424,057Net Income 2024: $3,329,6992024Revenue 2025: $1,354,209Expenses 2025: $876,475Net Income 2025: $477,7342025

Highlighted filing

2016

Revenue$1,087,881
Expenses$1,302,876
Net Income-$214,995
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 24, 2017
Return Version
2015v3.0
Gross Receipts
$1,087,881
Mission and Program Overview

Mission

SCHOLARSHIPS/ED. ASSIST.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,072,029$1,067,365▼ $4,664
Cash and Non-Interest-Bearing Accounts$399,459$326,938▼ $72,521
Pledges and Grants Receivable$266,505$237,576▼ $28,929
Savings and Temporary Cash Investments$77,273$161,125▲ $83,852
Land, Buildings, and Equipment, Net$130,971$117,339▼ $13,632
Accounts Receivable$1,550$1,550→ $0
Total Assets$1,947,787$1,911,893▼ $35,894
Liabilities
Grants Payable-$207,342-
Accounts Payable and Accrued Expenses$28,241--
Total Liabilities$28,241$207,342▲ $179,101
Net Assets / Fund Balance
Temporarily Rstr Net Assets$1,188,671$1,074,261▼ $114,410
Permanently Rstr Net Assets$447,216$449,040▲ $1,824
Unrestricted Net Assets$283,659$181,250▼ $102,409
Total Net Assets Fund Balance$1,919,546$1,704,551▼ $214,995
Total Liabilities and Net Assets / Fund Balance$1,947,787$1,911,893▼ $35,894

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$51,750--
Land$1,500--
Equipment$40,227$129,888-
Leasehold Improvements$23,862$20,972-

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$1,072,029-▲ $5,174-$1,067,365
2014$1,077,200-▲ $4,925-$1,072,029
2013$980,240-▲ $106,540-$1,077,200
2012$913,069-▲ $67,658-$980,240
2011$807,207-▲ $105,832-$913,069
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Christopher J GilbertExecutive DiFT$40,000$40,000

Board Members and Trustees

NameTitle
Dale CookChair
Bill RushVice Chair
Carol JonesDirector
Carol TrammellDirector
David CollinsDirector
Diana PaffordDirector
George F Helms IvDirector
Jack FrostDirector
Jim MaxwellDirector
Joe MitchellDirector
Lynn OsborneDirector
Mark GoodmanDirector
Mary BegleyDirector
Regina BelcherDirector
Tal McbrideDirector
Virgil WimmerDirector
Roberta LooneySecretary
Mike SpieglerTreasurer
Gene CouchVhcc - Presi
Christine FieldsVhcc - VP
Revenue and Support

Revenue Composition

Contributions and Grants
$1,082,457
Program Service Revenue
$0
Investment Income
$5,424
Other Revenue
$0
All Other Contributions
$834,205
Change in Net Assets
$-214,995

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 Amount
Other Non Cash Contri Table1$201,000
Total Noncash Contributions1$201,000

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,087,881
Total Revenue per Audited Statements
$1,087,881
Total Revenue per Form 990
$1,087,881
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$863,541
Other Expenses$439,335
Total Fundraising Expense$101,256
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$542,252--$542,252
Grants to Domestic Orgs$321,289--$321,289
Other Expenses$28,305$134,000$34,256$28,305
Depreciation Depletion$6,816$6,817-$13,633
Fees for Service Investment Mgmnt Fees-$9,838-$9,838
Fees for Services Accounting-$6,780-$6,780
Travel-$5,056-$5,056
All Other Expenses$1,374$870-$2,244
Fees for Services Other-$1,592-$1,592
Office Expenses$1,556--$1,556
Insurance-$1,047-$1,047
Advertising-$750-$750
Total Functional Expenses$1,034,870$166,750$101,256$1,302,876

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,302,876
Total Expenses per Audited Statements$1,302,876
Total Expenses per Form 990$1,302,876
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Virginia Highlands Comm CollegeAbingdon, VA-Faculty Support$321,289
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Songwriters Fes$33,327---
Golf Tournament$8,500---
Total Events$41,827---
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
Audit committee
Yes
Backup withholding compliance
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, Page 6, Part VI, Line 11B

Directors review form 990 prior to filing. The treasurer of the organization is a certified public accountant.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Virginia Highlands Foundation Inc
EIN
52-1225133
Phone
2767392473
Address
PO BOX 828, ABINGDON, VA 24212

Signing Officer

Name
Christopher J Gilbert
Title
Executive Director
Phone
2767392473
Signed
2017-02-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher J Gilbert
Formed
2009
Legal Domicile
Va
Voting Board Members
21
Independent Board Members
21
Employees
0

Preparer

Firm
Keen Proffitt & Co Pc
Address
468 MAIN ST E 317A, ABINGDON, VA 24210-3497
Preparer
Travis a Proffitt CPA
Phone
2766763004
Supplemental Narrative

Additional Explanations

Form 990

Misc exp. 107,000 employee compensation.

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IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
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IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt01500
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$0.06$11.9$1.35$0.88$0.48
2024Detailed filing. Detailed filing data is available for this year.$11.5$0.13$11.4$3.75$0.42$3.33
2023Detailed filing. Detailed filing data is available for this year.$8.00$0.11$7.89$1.43$0.41$1.02
2022Detailed filing. Detailed filing data is available for this year.$7.24$0.55$6.69$0.63$0.84$0.21
2021Detailed filing. Detailed filing data is available for this year.$7.58$0.29$7.29$2.45$0.62$1.83
2020Detailed filing. Detailed filing data is available for this year.$5.48$0.02$5.46$0.99$0.78$0.21
2019Detailed filing. Detailed filing data is available for this year.$5.26$0.01$5.25$1.06$0.50$0.56
2018Detailed filing. Detailed filing data is available for this year.$5.04$0.34$4.70$4.34$1.38$2.96
2017Detailed filing. Detailed filing data is available for this year.$2.19$0.45$1.74$1.09$1.05$0.03
2016Detailed filing. Detailed filing data is available for this year.$1.91$0.21$1.70$1.09$1.30$0.21
2015Detailed filing. Detailed filing data is available for this year.$1.95$0.03$1.92$0.85$0.60$0.25
2014Detailed filing. Detailed filing data is available for this year.$1.71$0.04$1.67$0.77$0.60$0.17
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.60$0.10$1.50$0.70
2012Summary only. Only limited summary data is available for this year.$1.65$0.08$1.58$0.92$0.78$0.15
2011Summary only. Only limited summary data is available for this year.$1.54$0.08$1.45$0.79$0.55$0.24