Civic Intelligence

Hampton Roads Economic Development Allia Development Alliance

990 • Fiscal year 2019 • EIN 54-0600387

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 11, 2020

Organization ProfileHAMPTONROADSALLIANCE.COM
500 E Main Street No 1300Norfolk, VA 23510

(757) 627-2315

Siviq Scores

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

Liabilities / Assets

27th percentile

0.04x

Higher debt load relative to assets than 27% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

26th percentile

0.04x

Higher debt load relative to revenue than 26% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

77th percentile

13%

Higher net margin than 77% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

49th percentile

$136,855

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

78th percentile

17%

Faster asset growth than 78% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

90th percentile

28%

Faster revenue growth than 90% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$2,882,254

Up $417,869 (+17%) from 2018

Net Assets

Up

$2,766,784

Up $337,928 (+14%) from 2018

Liabilities

Up

$115,470

Up $79,941 (+225%) from 2018

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin77th percentile

Revenue

Up

$2,688,093

Up $581,471 (+28%) from 2018

Expenses

Up

$2,350,165

Up $37,520 (+1.6%) from 2018

Net Income

Up

$337,928

Up $543,951 (+264%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $2,998,443Liabilities 2010: $166,839Net Assets 2010: $2,831,6042010Assets 2011: $2,846,253Liabilities 2011: $215,456Net Assets 2011: $2,630,7972011Assets 2012: $2,761,589Liabilities 2012: $141,407Net Assets 2012: $2,620,1822012Assets 2013: $3,119,379Liabilities 2013: $297,771Net Assets 2013: $2,821,6082013Assets 2014: $3,175,209Liabilities 2014: $140,642Net Assets 2014: $3,034,5672014Assets 2015: $3,183,132Liabilities 2015: $172,900Net Assets 2015: $3,010,2322015Assets 2016: $3,020,381Liabilities 2016: $62,413Net Assets 2016: $2,957,9682016Assets 2017: $2,742,133Liabilities 2017: $107,254Net Assets 2017: $2,634,8792017Assets 2018: $2,464,385Liabilities 2018: $35,529Net Assets 2018: $2,428,8562018Assets 2019: $2,882,254Liabilities 2019: $115,470Net Assets 2019: $2,766,7842019Assets 2020: $3,666,457Liabilities 2020: $76,562Net Assets 2020: $3,589,8952020Assets 2021: $4,122,075Liabilities 2021: $76,300Net Assets 2021: $4,045,7752021Assets 2022: $4,472,009Liabilities 2022: $66,883Net Assets 2022: $4,405,1262022Assets 2023: $4,121,084Liabilities 2023: $285,202Net Assets 2023: $3,835,8822023Assets 2024: $4,202,961Liabilities 2024: $366,460Net Assets 2024: $3,836,5012024

Highlighted filing

2019

Assets$2,882,254
Liabilities$115,470
Net Assets$2,766,784
Open 2019 Filing

Operations Trend

Revenue Growth90th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,558,9512010Expenses 2011: $2,800,9202011Expenses 2012: $2,613,1782012Revenue 2013: $2,584,541Expenses 2013: $2,383,115Net Income 2013: $201,4262013Revenue 2014: $2,538,385Expenses 2014: $2,325,426Net Income 2014: $212,9592014Revenue 2015: $2,287,941Expenses 2015: $2,312,275Net Income 2015: -$24,3342015Revenue 2016: $2,197,361Expenses 2016: $2,249,625Net Income 2016: -$52,2642016Revenue 2017: $2,281,196Expenses 2017: $2,604,285Net Income 2017: -$323,0892017Revenue 2018: $2,106,622Expenses 2018: $2,312,645Net Income 2018: -$206,0232018Revenue 2019: $2,688,093Expenses 2019: $2,350,165Net Income 2019: $337,9282019Revenue 2020: $3,715,361Expenses 2020: $2,892,250Net Income 2020: $823,1112020Revenue 2021: $4,031,039Expenses 2021: $3,575,161Net Income 2021: $455,8782021Revenue 2022: $3,867,938Expenses 2022: $3,508,588Net Income 2022: $359,3502022Revenue 2023: $3,575,930Expenses 2023: $4,145,174Net Income 2023: -$569,2442023Revenue 2024: $4,054,808Expenses 2024: $4,054,189Net Income 2024: $6192024

Highlighted filing

2019

Revenue$2,688,093
Expenses$2,350,165
Net Income$337,928
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 11, 2020
Return Version
2019v5.1
Gross Receipts
$2,688,093
Mission and Program Overview

Mission

THE MISSION OF THE HAMPTON ROADS ECONOMIC DEVELOPMENT ALLIANCE IS BUSINESS ATTRACTION--MARKETING VIRGINIA'S HAMPTON ROADS REGION AS THE PREFERRED LOCATION FOR BUSINESS INVESTMENT AND EXPANSION. ALL HREDA INITIATIVES ARE DESIGNED TO SECURE VISITS WITH QUALIFIED BUSINESS Prospects.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,848,291$1,756,626▼ $91,665
Cash and Non-Interest-Bearing Accounts$556,637$820,500▲ $263,863
Accounts Receivable$13,834$245,793▲ $231,959
Prepaid Expenses and Deferred Charges$16,909$29,796▲ $12,887
Land, Buildings, and Equipment, Net$28,714$29,539▲ $825
Total Assets$2,464,385$2,882,254▲ $417,869
Liabilities
Accounts Payable and Accrued Expenses$35,529$81,803▲ $46,274
Deferred Revenue-$33,667-
Total Liabilities$35,529$115,470▲ $79,941
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,428,856$2,766,784▲ $337,928
Total Net Assets Fund Balance$2,428,856$2,766,784▲ $337,928
Total Liabilities and Net Assets / Fund Balance$2,464,385$2,882,254▲ $417,869

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$29,539$237,451$266,990
Other Land Buildings$0$27,872$27,872
Leasehold Improvements$0$21,346$21,346
Compensation and Service Providers
Top Officer Pay49th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert HerbertInterim President & CEO Thru 8/30/19FT$136,160$695$136,855
Douglas SmithPresident & CEO Start 9/9/19FT$96,769$190$96,959

Board Members and Trustees

NameTitle
Brian SkinnerChair
C Grigsby ScifresImmediate Past Chair
Buddy LeagueDirector
C Max Bartholomew JrDirector
Carey FreemanDirector
Cynthia D RohlfDirector
Donnie TuckDirector
Frank RabilDirector
George FaatzDirector
Howard KernDirector
John Rowe JrDirector
Larry Chip FilerDirector
Linda JohnsonDirector
Mark DreyfusDirector
Martin Thomas JrDirector
Mckinley Price DdsDirector
R Randolph CookDirector
Richard Dick Lee GriceDirector
Richard WestDirector
Robert DyerDirector
Susan JacobsDirector
Hobie RitzelEx-officio
Hugh PattersonEx-officio
Jim SporeEx-officio
John ReinhartEx-officio
Shawn AveryEx-officio
Joseph WittSecretary
Charles McphillipsTreasurer
Chuck RigneyVP Economic Development
William E KingVP Investor Relations
Revenue and Support

Revenue Composition

Contributions and Grants
$2,673,798
Program Service Revenue
$4,679
Investment Income
$9,616
Other Revenue
$0
All Other Contributions
$1,229,110
Change in Net Assets
$337,928

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,688,093
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,688,093
Total Revenue per Form 990
$2,688,093
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,157,139
Salaries, Compensation, and Employee Benefits$1,046,026
Total Fundraising Expense$169,177
Professional Fundraising Fees$147,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$566,541$102,541-$669,082
Current Officers, Directors, Trustees, and Key Employees$197,980$35,833-$233,813
Advertising$193,163--$193,163
Fees for Services Professional Fundraising--$147,000$147,000
Occupancy$87,459$13,069-$100,528
Payroll Taxes$58,048$10,527-$68,575
Office Expenses$45,294$13,818-$59,112
Other Employee Benefits$35,627$14,282-$49,909
All Other Expenses$43,926$423-$44,349
Travel$27,035$8,682-$35,717
Pension Plan Contributions$20,986$3,661-$24,647
Fees for Services Other-$21,600-$21,600
Other Expenses$11,716$8,784$22,177$20,500
Depreciation Depletion$10,149$1,496-$11,645
Insurance$2,500$8,370-$10,870
Conferences and Meetings$4,522$4,779-$9,301
Fees for Services Accounting-$8,200-$8,200
Fees for Services Legal-$2,488-$2,488
Total Functional Expenses$1,915,150$265,838$169,177$2,350,165

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,350,165
Total Expenses per Audited Statements$2,350,165
Total Expenses per Form 990$2,350,165
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$119,754

International Compliance

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
GermanyProgram ServicesInvestment Promotion Support Services in Europe00$119,754
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$147,000
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
Yes
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 organization has created a committee responsible for reviewing form 990 prior to its filing. The draft form 990 was also uploaded to guidestar and the email was sent notifiying the board members that it was available for review.”

Form 990, Part VI, Section B, Line 15

“Presidents's compensation is approved by the officers committee made up of the chair, chair-elect, secretary & treasurer.”

Form 990, Part VI, Section C, Line 19

“Organization makes governing documents and conflict of interest policy available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Hampton Roads Economic
EIN
54-0600387
Phone
7576272315
Address
500 E MAIN STREET NO 1300, NORFOLK, VA 23510

Signing Officer

Name
Douglas L Smith
Title
President & CEO
Phone
7576272315
Signed
2020-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas L Smith
Formed
1997
Legal Domicile
Va
Voting Board Members
30
Independent Board Members
30
Employees
17
Volunteers
75

Preparer

Firm
Cherry Bekaert Llp
Address
222 CENTRAL PARK AVE STE 1400, VIRGINIA BEACH, VA 23462
Preparer
Barbara Smith
Phone
7574562400
Supplemental Narrative

Additional Explanations

FORM 990, PART V, LINE 2B:

“The hampton roads chamber of commerce processes the payroll for this entity and the w-2s and 941s are filed under the chamber of commerce.”

Financial Statement Notes

PART X, LINE 2:

“The alliance was exempt from income taxes under section 501(c)(6) of the irc through march 24, 2019. As of march 25, 2019, the alliance obtained exempt status under section 501(c)(3) of the irc. Accordingly, the accompanying financial statements do not reflect a provision or liability for federal and state income taxes. The alliance has determined that it does not have any material unrecognized tax benefits or obligations as of december 31, 2019.”

Raw XML AppendixShowing 400 of 722 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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IRS990/Form990PartVIISectionAGrp/PersonNm1CHARLES MCPHILLIPS
IRS990/Form990PartVIISectionAGrp/PersonNm2JOSEPH WITT
IRS990/Form990PartVIISectionAGrp/PersonNm3WILLIAM E KING
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IRS990/Form990PartVIISectionAGrp/PersonNm5C GRIGSBY SCIFRES
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IRS990/Form990PartVIISectionAGrp/PersonNm8MARK DREYFUS
IRS990/Form990PartVIISectionAGrp/PersonNm9ROBERT DYER
IRS990/Form990PartVIISectionAGrp/PersonNm10GEORGE FAATZ
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IRS990/Form990PartVIISectionAGrp/PersonNm12CAREY FREEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm13RICHARD DICK LEE GRICE
IRS990/Form990PartVIISectionAGrp/PersonNm14SUSAN JACOBS
IRS990/Form990PartVIISectionAGrp/PersonNm15LINDA JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm16HOWARD KERN
IRS990/Form990PartVIISectionAGrp/PersonNm17BUDDY LEAGUE
IRS990/Form990PartVIISectionAGrp/PersonNm18MCKINLEY PRICE DDS
IRS990/Form990PartVIISectionAGrp/PersonNm19FRANK RABIL
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IRS990/Form990PartVIISectionAGrp/PersonNm21JOHN ROWE JR
IRS990/Form990PartVIISectionAGrp/PersonNm22MARTIN THOMAS JR
IRS990/Form990PartVIISectionAGrp/PersonNm23DONNIE TUCK
IRS990/Form990PartVIISectionAGrp/PersonNm24RICHARD WEST
IRS990/Form990PartVIISectionAGrp/PersonNm25SHAWN AVERY
IRS990/Form990PartVIISectionAGrp/PersonNm26HUGH PATTERSON
IRS990/Form990PartVIISectionAGrp/PersonNm27JOHN REINHART
IRS990/Form990PartVIISectionAGrp/PersonNm28HOBIE RITZEL
IRS990/Form990PartVIISectionAGrp/PersonNm29JIM SPORE
IRS990/Form990PartVIISectionAGrp/PersonNm30ROBERT HERBERT
IRS990/Form990PartVIISectionAGrp/PersonNm31DOUGLAS SMITH
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt280
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt290
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3VP INVESTOR RELATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt4VP ECONOMIC DEVELOPMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25EX-OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt26EX-OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt27EX-OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt28EX-OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt29EX-OFFICIO
IRS990/Form990PartVIISectionAGrp/TitleTxt30INTERIM PRESIDENT & CEO THRU 8/30/19
IRS990/Form990PartVIISectionAGrp/TitleTxt31PRESIDENT & CEO START 9/9/19
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IRS990/FormationYr01997
IRS990/FormerOfcrEmployeesListedInd00
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IRS990/FSAuditedInd01
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IRS990/GamingActivitiesInd00
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990/GroupReturnForAffiliatesInd00
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IRS990/OtherExpensesGrp/ProgramServicesAmt211716
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IRS990/OtherExpensesGrp/TotalAmt151008
IRS990/OtherExpensesGrp/TotalAmt222177
IRS990/OtherExpensesGrp/TotalAmt320500
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0102541
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0566541

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,882,254
Liabilities
$115,470
Net assets
$2,766,784
Revenue
$2,688,093
Expenses
$2,350,165
Net income
$337,928
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.20$0.37$3.84$4.05$4.05$0.00
2023Summary only. Only limited summary data is available for this year.$4.12$0.29$3.84$3.58$4.15$0.57
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.47$0.07$4.41$3.87$3.51$0.36
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.12$0.08$4.05$4.03$3.58$0.46
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.67$0.08$3.59$3.72$2.89$0.82
2019Detailed filing. Detailed filing data is available for this year.$2.88$0.12$2.77$2.69$2.35$0.34
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.46$0.04$2.43$2.11$2.31$0.21
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.74$0.11$2.63$2.28$2.60$0.32
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.02$0.06$2.96$2.20$2.25$0.05
2015Detailed filing. Detailed filing data is available for this year.$3.18$0.17$3.01$2.29$2.31$0.02
2014Detailed filing. Detailed filing data is available for this year.$3.18$0.14$3.03$2.54$2.33$0.21
2013Detailed filing. Detailed filing data is available for this year.$3.12$0.30$2.82$2.58$2.38$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.76$0.14$2.62$2.61
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.85$0.22$2.63$2.80
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$0.17$2.83$2.56