Liabilities / Assets
67th percentile
Higher debt load relative to assets than 67% of similar nonprofits.
EIN 54-1081488 • 501(c)6 • Norfolk, VA
Profile
Take a leadership role in efforts to enhance norfolk's and the region's competitiveness and quality of life, including efforts to develop, attract and retain talent and diversify and grow the local economy.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
67th percentile
Higher debt load relative to assets than 67% of similar nonprofits.
Liabilities / Revenue
65th percentile
Higher debt load relative to revenue than 65% of similar nonprofits.
Net Margin
46th percentile
Higher net margin than 46% of similar nonprofits.
Top Officer Pay
98th percentile
Higher top officer pay than 98% of similar nonprofits.
Top officer pay equals 63.9% of source-year revenue.
Asset Growth
43rd percentile
Faster asset growth than 43% of similar nonprofits.
Revenue Growth
69th percentile
Faster revenue growth than 69% of similar nonprofits.
Assets
Down$101,365
Down $5,824 (-5.4%) from 2024
Liabilities
Down$4,188
Down $3,802 (-48%) from 2024
Net Assets
Down$97,177
Down $2,022 (-2.0%) from 2024
Revenue
Up$205,661
Up $21,297 (+12%) from 2024
Expenses
Up$207,683
Up $18,173 (+9.6%) from 2024
Net Income
Up-$2,022
Up $3,124 (+61%) from 2024
Most recent year
2025 • Form 990Detailed filing. Detailed filing data is available for this year.
To participate in the Economic revitalization and development of the City of Norfolk by marshaling the resources of the private sector in support of the City and its agencies.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $102,397 | $98,395 | ▼ $4,002 |
| Land, Buildings, and Equipment, Net | $4,792 | $2,970 | ▼ $1,822 |
| Receivable From Disqualified Prsn | - | $0 | - |
| Receivables From Officers Etc | - | $0 | - |
| Investments Other Securities | $0 | - | - |
| Investments Program Related | $0 | - | - |
| Loans From Officers Directors | - | $0 | - |
| Total Assets | $107,189 | $101,365 | ▼ $5,824 |
| Other Assets Total | $0 | $0 | → $0 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $6,056 | $3,192 | ▼ $2,864 |
| Other Liabilities | $1,934 | $996 | ▼ $938 |
| Total Liabilities | $7,990 | $4,188 | ▼ $3,802 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $99,199 | $97,177 | ▼ $2,022 |
| Total Net Assets Fund Balance | $99,199 | $97,177 | ▼ $2,022 |
| Total Liabilities and Net Assets / Fund Balance | $107,189 | $101,365 | ▼ $5,824 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $579 | $35,213 | $35,792 |
| Other Land Buildings | $2,340 | $3,060 | $5,400 |
| Leasehold Improvements | $51 | $3,105 | $3,156 |
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Linda Peck | Executive Director | FT | $119,362 | $12,000 | $131,362 |
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $167,806 |
| Other Expenses | $39,877 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Current Officers, Directors, Trustees, and Key Employees | - | - | - | $122,864 |
| Conferences and Meetings | - | - | - | $18,736 |
| Other Salaries and Wages | - | - | - | $16,464 |
| Payroll Taxes | - | - | - | $14,028 |
| Other Employee Benefits | - | - | - | $8,276 |
| Fees for Services Accounting | - | - | - | $7,397 |
| Pension Plan Contributions | - | - | - | $6,174 |
| Occupancy | - | - | - | $5,551 |
| Insurance | - | - | - | $3,268 |
| Depreciation Depletion | - | - | - | $1,822 |
| Office Expenses | - | - | - | $1,793 |
| Travel | - | - | - | $1,310 |
| Total Functional Expenses | $0 | $0 | $0 | $207,683 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Line Item | Amount |
|---|---|
| Current Year Nondeductible Lobbying and Political Cost | $0 |
| Total Nondeductible Lobbying and Political Cost | $0 |
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
| Liability | Amount |
|---|---|
| Federal Income Taxes | $996 |
| Retirement Liabilities | - |
“GNC's Board of Directors consists of five classifications of members: Sustaining, Emeritus, Educational, Associate, and Ex-officio. All directors possess voting rights. Directors generally serve three-year terms, except for Associate members, who serve one-year terms.”
“The members elect the officers”
“The Board of Directors shall be elected by ballot at the annual meeting of the Board.”
“990 will be shared by the website portal for board approval.”
“The Treasurer reviews the budget with the Executive Director's proposed salary. The salary is usually increased by a 2 or 3% cost of living adjustment. The budget with proposed salary is approved by the Executive Committee and then the full board.”
“The organization makes its governing documents and financial statements available upon request.”
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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|---|---|---|
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| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
| IRS990/ActivityOrMissionDesc | 0 | To participate in the Economic revitalization and development of the City of Norfolk by marshaling the resources of the private sector in support of the City and its agencies. |
| IRS990/AllOtherContributionsAmt | 0 | 28000 |
| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 0 |
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| IRS990/BooksInCareOfDetail/PhoneNum | 0 | 7576222242 |
| IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt | 0 | 101 W Main Street Suite 1000A |
| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | Norfolk |
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| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 1822 |
| IRS990/Desc | 0 | Attracting and retaining talent is essential for the city's economic vitality. In support of this goal, GNC runs an Executive Mentorship Program, that pairs students from Norfolk State University, Old Dominion University, Tidewater Community College and Virginia Wesleyan University with local business professionals. This program provides invaluable guidance, career advice, goals setting and resume building. It also cultivates relationships with professionals in their field, which aims to keep our talent local. Another program that aims to attract and retain young professional talent to Norfolkand the region is our LiveNFK Summer Intern Program, which offers professional development and networking opportunities for summer interns. By showcasing our area and offering opportunities to connect to recognize that this area is a great place to launch one's career. Vibrant cities with a talent workforce require a strong public school system. GNC, in partnership with the Norfolk Innovation Corridor, support the Invention Convention program with Norfolk Public Schools. GNC provides help with judging and matching professionals to work with the students on their inventions. |
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| IRS990/FamilyOrBusinessRlnInd | 0 | false |
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