Civic Intelligence

Virginia Economic Developers Association

990 • Fiscal year 2016 • EIN 54-1246307

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 07, 2017

Organization ProfileN/A
1340 N Great Neck Rd 1272-128Virginia Beach, VA 23454

(757) 412-2664

Siviq Scores

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

Liabilities / Assets

46th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

46th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Net Margin

45th percentile

1.0%

Higher net margin than 45% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Top Officer Pay

69th percentile

$0

Higher top officer pay than 69% of similar nonprofits.

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

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Asset Growth

50th percentile

2.4%

Faster asset growth than 50% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

90th percentile

39%

Faster revenue growth than 90% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$154,970

Up $3,567 (+2.4%) from 2015

Net Assets

Up

$154,970

Up $3,567 (+2.4%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin45th percentile

Revenue

Up

$359,938

Up $101,121 (+39%) from 2015

Expenses

Up

$356,371

Up $98,636 (+38%) from 2015

Net Income

Up

$3,567

Up $2,485 (+230%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$400K$300K$200K$100K$0Assets 2010: $168,390Net Assets 2010: $168,3902010Assets 2011: $154,769Liabilities 2011: $02011Assets 2012: $125,977Liabilities 2012: $0Net Assets 2012: $125,9772012Assets 2013: $126,556Liabilities 2013: $0Net Assets 2013: $126,5562013Assets 2014: $150,321Liabilities 2014: $0Net Assets 2014: $150,3212014Assets 2015: $151,403Liabilities 2015: $0Net Assets 2015: $151,4032015Assets 2016: $154,970Liabilities 2016: $0Net Assets 2016: $154,9702016Assets 2017: $173,960Liabilities 2017: $0Net Assets 2017: $173,9602017Assets 2018: $171,915Liabilities 2018: $0Net Assets 2018: $171,9152018Assets 2019: $228,749Liabilities 2019: $0Net Assets 2019: $228,7492019Assets 2020: $292,965Liabilities 2020: $0Net Assets 2020: $292,9652020Assets 2021: $303,493Liabilities 2021: $6,439Net Assets 2021: $297,0542021Assets 2022: $361,518Liabilities 2022: $1,735Net Assets 2022: $359,7832022Assets 2023: $388,394Liabilities 2023: $1,231Net Assets 2023: $387,1632023Assets 2024: $383,637Liabilities 2024: $955Net Assets 2024: $382,6822024

Highlighted filing

2016

Assets$154,970
Liabilities$0
Net Assets$154,970
Open 2016 Filing

Operations Trend

Revenue Growth90th percentile

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

$1.0M$500K$0-$500KRevenue 2010: $189,265Expenses 2010: $205,793Net Income 2010: -$16,5282010Revenue 2011: $185,594Expenses 2011: $199,215Net Income 2011: -$13,6212011Expenses 2012: $243,6122012Revenue 2013: $276,730Expenses 2013: $276,151Net Income 2013: $5792013Revenue 2014: $278,782Expenses 2014: $255,017Net Income 2014: $23,7652014Revenue 2015: $258,817Expenses 2015: $257,735Net Income 2015: $1,0822015Revenue 2016: $359,938Expenses 2016: $356,371Net Income 2016: $3,5672016Revenue 2017: $394,633Expenses 2017: $375,643Net Income 2017: $18,9902017Revenue 2018: $287,079Expenses 2018: $289,124Net Income 2018: -$2,0452018Revenue 2019: $456,789Expenses 2019: $399,955Net Income 2019: $56,8342019Revenue 2020: $320,084Expenses 2020: $255,868Net Income 2020: $64,2162020Revenue 2021: $295,772Expenses 2021: $291,683Net Income 2021: $4,0892021Revenue 2022: $478,352Expenses 2022: $415,623Net Income 2022: $62,7292022Revenue 2023: $789,572Expenses 2023: $762,192Net Income 2023: $27,3802023Revenue 2024: $636,207Expenses 2024: $640,688Net Income 2024: -$4,4812024

Highlighted filing

2016

Revenue$359,938
Expenses$356,371
Net Income$3,567
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 7, 2017
Return Version
2016v3.0
Gross Receipts
$359,938
Mission and Program Overview

Mission

Shapes economic development public policy and a primary source of strong and effective education and networking for economic development professionals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$122,496$126,052▲ $3,556
Savings and Temporary Cash Investments$28,907$28,917▲ $10
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 Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$151,403$154,970▲ $3,567
Other Assets Total-$1-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$151,403$154,970▲ $3,567
Total Net Assets Fund Balance$151,403$154,970▲ $3,567
Total Liabilities and Net Assets / Fund Balance$151,403$154,970▲ $3,567

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$1,000$1,000
Compensation and Service Providers
Top Officer Pay69th percentile

Board Members and Trustees

NameTitle
Michele DewittImm Past Chair
Deborah FlippoPresident
Debbie MelvinVice President
Chris EngelDirector
Greg HitchinDirector
Jeff F TaylorDirector
John LoftusDirector
John SmolakDirector
Mallory ButlerDirector
Megan LucasDirector
Thomas MillerDirector
Steven HarrisonDirectorverona
Connie LongExecutive Direc
Stephanie LandrumSecretary
Kenneth McfadyenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,000
Program Service Revenue
$347,447
Investment Income
$12
Other Revenue
$11,479
All Other Contributions
$1,000
Change in Net Assets
$3,567
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$349,449
Grants and Similar Amounts Paid$6,922
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$148,643--$148,643
Fees for Services Management$45,419$15,140-$60,559
Information Technology$21,845$1,150-$22,995
Other Expenses$10,299$25,294-$10,299
All Other Expenses$4,755$3,747-$8,502
Travel$7,910$416-$8,326
Grants to Domestic Individuals$6,922--$6,922
Insurance-$1,784-$1,784
Office Expenses-$1,611-$1,611
Fees for Services Accounting$562$188-$750
Total Functional Expenses$307,041$49,330$0$356,371
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$11,479
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$12,129
Total Nondeductible Lobbying and Political Cost$12,129
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Exuctive director responsibilities are preformed by Selective Outsourcing Solutions Inc.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Virginia Economic Developers Association
EIN
54-1246307
Phone
7574122664
Address
1340 N GREAT NECK RD 1272-128, VIRGINIA BEACH, VA 23454

Signing Officer

Name
Connie Long
Title
Executive Director
Signed
2017-08-07
Discuss with paid preparer
Yes

Organization Details

Formed
1982
Legal Domicile
Va
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
150

Preparer

Firm
Corbin & Company PC
Address
501 Independence Parkway Suite 275, Chesapeake, VA 23320
Preparer
Catherine R Daley CPA
Phone
7574364577
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Shapes economic development public policy and a primary source of strong and effective education and networking for economic development professionals.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0151403
IRS990/NetAssetsOrFundBalancesEOYAmt0154970
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt011479
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01611
IRS990/OfficeExpensesGrp/TotalAmt01611
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/EOYAmt01
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Public Policy
IRS990/OtherExpensesGrp/Desc1Membership Network Meeting
IRS990/OtherExpensesGrp/Desc2Credit Card Fees
IRS990/OtherExpensesGrp/Desc3Temporary Help
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt025294
IRS990/OtherExpensesGrp/ProgramServicesAmt025294
IRS990/OtherExpensesGrp/ProgramServicesAmt124595
IRS990/OtherExpensesGrp/ProgramServicesAmt210797
IRS990/OtherExpensesGrp/ProgramServicesAmt310299
IRS990/OtherExpensesGrp/TotalAmt050588
IRS990/OtherExpensesGrp/TotalAmt124595
IRS990/OtherExpensesGrp/TotalAmt210797
IRS990/OtherExpensesGrp/TotalAmt310299
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Fall Conference
IRS990/ProgramServiceRevenueGrp/Desc1Membership Dues & Assessments
IRS990/ProgramServiceRevenueGrp/Desc2Membership Networking
IRS990/ProgramServiceRevenueGrp/Desc3Spring Conference
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt086919
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1172400
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt227544
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt360584
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt086919
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1172400
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt227544
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt360584
IRS990/ProgSrvcAccomActy2Grp/Desc0SCHOLARSHIPS TO THE ECONOMIC DEVELOPMENT INSTITUTE COVERING COSTS OF TUITION AND BOOKS
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt06922
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt04273
IRS990/PYInvestmentIncomeAmt012
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0253462
IRS990/PYOtherRevenueAmt0475
IRS990/PYProgramServiceRevenueAmt0257330
IRS990/PYRevenuesLessExpensesAmt01082
IRS990/PYTotalExpensesAmt0257735
IRS990/PYTotalRevenueAmt0258817
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt03567
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt028907
IRS990/SavingsAndTempCashInvstGrp/EOYAmt028917
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AggregateReportedDuesNtcAmt014309
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/DuesAssessmentsAmt0172400
IRS990ScheduleC/Form1120POLFiledInd0false
IRS990ScheduleC/NonDeductibleLbbyngPltclCYAmt012129
IRS990ScheduleC/NonDeductibleLbbyngPltclTotAmt012129
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01000
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01000
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt06922
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt013
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Exuctive director responsibilities are preformed by Selective Outsourcing Solutions Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0151403
IRS990/TotalAssetsEOYAmt0154970
IRS990/TotalAssetsGrp/BOYAmt0151403
IRS990/TotalAssetsGrp/EOYAmt0154970
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt049330
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0307041
IRS990/TotalFunctionalExpensesGrp/TotalAmt0356371
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0151403
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0154970
IRS990/TotalProgramServiceExpensesAmt0313963

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$154,970
Liabilities
$0
Net assets
$154,970
Revenue
$359,938
Expenses
$356,371
Net income
$3,567
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.84$0.01$3.83$6.36$6.41$0.04
2023Detailed filing. Detailed filing data is available for this year.$3.88$0.01$3.87$7.90$7.62$0.27
2022Detailed filing. Detailed filing data is available for this year.$3.62$0.02$3.60$4.78$4.16$0.63
2021Detailed filing. Detailed filing data is available for this year.$3.03$0.06$2.97$2.96$2.92$0.04
2020Detailed filing. Detailed filing data is available for this year.$2.93$0.00$2.93$3.20$2.56$0.64
2019Detailed filing. Detailed filing data is available for this year.$2.29$0.00$2.29$4.57$4.00$0.57
2018Detailed filing. Detailed filing data is available for this year.$1.72$0.00$1.72$2.87$2.89$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.74$0.00$1.74$3.95$3.76$0.19
2016Detailed filing. Detailed filing data is available for this year.$1.55$0.00$1.55$3.60$3.56$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.51$0.00$1.51$2.59$2.58$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.50$0.00$1.50$2.79$2.55$0.24
2013Detailed filing. Detailed filing data is available for this year.$1.27$0.00$1.27$2.77$2.76$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.26$0.00$1.26$2.44
2011Summary only. Only limited summary data is available for this year.$1.55$0.00$1.86$1.99$0.14
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$1.68$1.89$2.06$0.17