Civic Intelligence

Central VA Found for Economic Education & Improvement Incorp

990 • Fiscal year 2014 • EIN 54-1255814

Jan 01, 2014 to Dec 31, 2014 • Filed on May 27, 2015

Organization ProfileN/A
2015 Memorial AveLynchburg, VA 24501

(434) 845-5966

Siviq Scores

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

Liabilities / Assets

60th percentile

0.11x

Higher debt load relative to assets than 60% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

92nd percentile

1.55x

Higher debt load relative to revenue than 92% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

83rd percentile

28%

Higher net margin than 83% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

13th percentile

-13%

Faster asset growth than 13% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

2nd percentile

-75%

Faster revenue growth than 2% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets60th percentile

Assets

Down

$968,471

Down $150,779 (-13%) from 2013

Net Assets

Up

$865,484

Up $18,320 (+2.2%) from 2013

Liabilities

Down

$102,987

Down $169,099 (-62%) from 2013

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin83rd percentile

Revenue

Down

$66,290

Down $200,311 (-75%) from 2013

Expenses

Down

$47,970

Down $29,752 (-38%) from 2013

Net Income

Down

$18,320

Down $170,559 (-90%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $13,281Liabilities 2010: $0Net Assets 2010: $13,2812010Assets 2011: $514,054Liabilities 2011: $449,443Net Assets 2011: $64,6112011Assets 2012: $1,099,941Liabilities 2012: $441,656Net Assets 2012: $658,2852012Assets 2013: $1,119,250Liabilities 2013: $272,086Net Assets 2013: $847,1642013Assets 2014: $968,471Liabilities 2014: $102,987Net Assets 2014: $865,4842014Assets 2015: $1,202,326Liabilities 2015: $93,257Net Assets 2015: $1,109,0692015Assets 2016: $1,505,166Liabilities 2016: $21,489Net Assets 2016: $1,483,6772016Assets 2017: $1,721,708Liabilities 2017: $270,134Net Assets 2017: $1,451,5742017Assets 2018: $1,840,348Liabilities 2018: $410,594Net Assets 2018: $1,429,7542018Assets 2019: $2,057,636Liabilities 2019: $666,439Net Assets 2019: $1,391,1972019Assets 2020: $1,886,148Liabilities 2020: $499,339Net Assets 2020: $1,386,8092020Assets 2021: $1,805,751Liabilities 2021: $463,322Net Assets 2021: $1,342,4292021Assets 2022: $1,630,168Liabilities 2022: $347,038Net Assets 2022: $1,283,1302022Assets 2023: $1,559,769Liabilities 2023: $330,865Net Assets 2023: $1,228,9042023Assets 2024: $1,485,502Liabilities 2024: $297,982Net Assets 2024: $1,187,5202024

Highlighted filing

2014

Assets$968,471
Liabilities$102,987
Net Assets$865,484
Open 2014 Filing

Operations Trend

Revenue Growth2nd percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $5502010Expenses 2011: $34,9272011Expenses 2012: $113,7082012Revenue 2013: $266,601Expenses 2013: $77,722Net Income 2013: $188,8792013Revenue 2014: $66,290Expenses 2014: $47,970Net Income 2014: $18,3202014Revenue 2015: $295,394Expenses 2015: $51,809Net Income 2015: $243,5852015Revenue 2016: $414,285Expenses 2016: $39,677Net Income 2016: $374,6082016Revenue 2017: -$30,794Expenses 2017: $1,309Net Income 2017: -$32,1032017Revenue 2018: $48,387Expenses 2018: $70,207Net Income 2018: -$21,8202018Revenue 2019: $40,423Expenses 2019: $78,980Net Income 2019: -$38,5572019Revenue 2020: $279,472Expenses 2020: $283,860Net Income 2020: -$4,3882020Revenue 2021: $156,272Expenses 2021: $200,652Net Income 2021: -$44,3802021Revenue 2022: $182,629Expenses 2022: $241,928Net Income 2022: -$59,2992022Revenue 2023: $78,757Expenses 2023: $132,983Net Income 2023: -$54,2262023Revenue 2024: $113,955Expenses 2024: $155,339Net Income 2024: -$41,3842024

Highlighted filing

2014

Revenue$66,290
Expenses$47,970
Net Income$18,320
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 27, 2015
Return Version
2014v5.0
Gross Receipts
$66,290
Mission and Program Overview

Mission

Furtherance of economic growth, education, training and development

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$583,177$437,750▼ $145,427
Land, Buildings, and Equipment, Net$427,500$427,500→ $0
Cash and Non-Interest-Bearing Accounts$89,149$90,661▲ $1,512
Prepaid Expenses and Deferred Charges$869$10,560▲ $9,691
Accounts Receivable$18,555$2,000▼ $16,555
Total Assets$1,119,250$968,471▼ $150,779
Liabilities
Mortgage Notes Payable Secured by Investment Property$198,906--
Other Liabilities$46,100$71,100▲ $25,000
Deferred Revenue$27,020$31,685▲ $4,665
Accounts Payable and Accrued Expenses$60$202▲ $142
Total Liabilities$272,086$102,987▼ $169,099
Net Assets / Fund Balance
Temporarily Rstr Net Assets$641,338$503,149▼ $138,189
Unrestricted Net Assets$205,826$362,335▲ $156,509
Total Net Assets Fund Balance$847,164$865,484▲ $18,320
Total Liabilities and Net Assets / Fund Balance$1,119,250$968,471▼ $150,779

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$230,850-$230,850
Land$196,650-$196,650
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
Christian DepaulDirector
Ed CraighillDirector
Jim RichardsDirector
John StoneDirector
Leighton HouckDirector
Linda EdwardsDirector
Pat McnamaraDirector
Tulane PattersonPres
Christine KennedySec/treas
John DoyleVice Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$48,382
Program Service Revenue
$17,900
Investment Income
$8
Other Revenue
$0
All Other Contributions
$48,382
Change in Net Assets
$18,320
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$47,970
Total Fundraising Expense$235
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance$8,369--$8,369
Interest$4,952--$4,952
Occupancy$1,812--$1,812
Other Expenses$700--$700
All Other Expenses--$235$235
Office Expenses$9--$9
Total Functional Expenses$47,735$0$235$47,970
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$71,100
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Form 990 is filed based on the audit of the lynchburg regional chamber of commerce. The form 990 was reviewed by the finance committee and the executive committee prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Each director & officer is provided with and asked to review a copy of the policy and to acknowledge in writing that he or she has done so. Annually each director & officer shall complete a disclosure form identifying any relationships, positions, or circumstances in which he or she is involved that they believe could contribute to a conflict of interest. Any information is treated as confidential and shall generally be made available only to the chair, the president and any committee appointed to address such conflicts. The policy is reviewed annually by each board member. Any changes to the policy are communicated to all.”

Form 990, Page 6, Part VI, Line 19

“These are made available upon request”

Filing and Contact Details

Filer

Filer Name
Central Virginia Foundation for
EIN
54-1255814
Address
2015 MEMORIAL AVE, LYNCHBURG, VA 24501

Signing Officer

Name
Christine Kennedy
Title
President
Signed
2015-05-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christine Kennedy
Formed
1983
Legal Domicile
Va
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Brockman Drinkard & Pennington Pc
Address
104 ARCHWAY COURT, LYNCHBURG, VA 24502
Preparer
Timothy a Blanks
Phone
4348468458
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization has evaluated all tax positions taken that could have a significant effect on the financial statements and determined the organization had no uncertain income tax positions at december 31, 2014. The organization's income tax filings are subject to audit by various taxing authorities. Open audit periods include its years ending december 31, 2011 through 2014.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS EVALUATED ALL TAX POSITIONS TAKEN THAT COULD HAVE A SIGNIFICANT EFFECT ON THE FINANCIAL STATEMENTS AND DETERMINED THE ORGANIZATION HAD NO UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2014. THE ORGANIZATION'S INCOME TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. OPEN AUDIT PERIODS INCLUDE ITS YEARS ENDING DECEMBER 31, 2011 THROUGH 2014.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS FILED BASED ON THE AUDIT OF THE LYNCHBURG REGIONAL CHAMBER OF COMMERCE. THE FORM 990 WAS REVIEWED BY THE FINANCE COMMITTEE AND THE EXECUTIVE COMMITTEE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH DIRECTOR & OFFICER IS PROVIDED WITH AND ASKED TO REVIEW A COPY OF THE POLICY AND TO ACKNOWLEDGE IN WRITING THAT HE OR SHE HAS DONE SO. ANNUALLY EACH DIRECTOR & OFFICER SHALL COMPLETE A DISCLOSURE FORM IDENTIFYING ANY RELATIONSHIPS, POSITIONS, OR CIRCUMSTANCES IN WHICH HE OR SHE IS INVOLVED THAT THEY BELIEVE COULD CONTRIBUTE TO A CONFLICT OF INTEREST. ANY INFORMATION IS TREATED AS CONFIDENTIAL AND SHALL GENERALLY BE MADE AVAILABLE ONLY TO THE CHAIR, THE PRESIDENT AND ANY COMMITTEE APPOINTED TO ADDRESS SUCH CONFLICTS. THE POLICY IS REVIEWED ANNUALLY BY EACH BOARD MEMBER. ANY CHANGES TO THE POLICY ARE COMMUNICATED TO ALL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THESE ARE MADE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/SupplementalInformationDetail/ExplanationTxt0SCHEDULE R, PART II, COLUMN B TO PROMOTE ECONOMIC GROWTH, POSITIVE BUSINESS CLIMATE & QUALITY OF LIFE
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ReturnHeader/BusinessOfficerGrp/PersonNm0CHRISTINE KENNEDY
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ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CENTRAL VIRGINIA FOUNDATION FOR
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ReturnHeader/Filer/BusinessNameControlTxt0CENT

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$968,471
Liabilities
$102,987
Net assets
$865,484
Revenue
$66,290
Expenses
$47,970
Net income
$18,320
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.49$0.30$1.19$0.11$0.16$0.04
2023Detailed filing. Detailed filing data is available for this year.$1.56$0.33$1.23$0.08$0.13$0.05
2022Detailed filing. Detailed filing data is available for this year.$1.63$0.35$1.28$0.18$0.24$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.81$0.46$1.34$0.16$0.20$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.89$0.50$1.39$0.28$0.28$0.00
2019Detailed filing. Detailed filing data is available for this year.$2.06$0.67$1.39$0.04$0.08$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.84$0.41$1.43$0.05$0.07$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.72$0.27$1.45$0.03$0.00$0.03
2016Detailed filing. Detailed filing data is available for this year.$1.51$0.02$1.48$0.41$0.04$0.37
2015Detailed filing. Detailed filing data is available for this year.$1.20$0.09$1.11$0.30$0.05$0.24
2014Detailed filing. Detailed filing data is available for this year.$0.97$0.10$0.87$0.07$0.05$0.02
2013Detailed filing. Detailed filing data is available for this year.$1.12$0.27$0.85$0.27$0.08$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.44$0.66$0.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.51$0.45$0.06$0.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.00$0.01$0.00