Civic Intelligence

Small Business Development Center

EIN 54-1534595 • 501(c)6 • Norfolk, VA

Profile

To foster small business success and grow the region's economy.

101 W Main Street Suite 800Norfolk, VA 23510-1670

hrsbdc.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

70th percentile

0.19x

Higher debt load relative to assets than 70% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

64th percentile

0.12x

Higher debt load relative to revenue than 64% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Net Margin

47th percentile

2.7%

Higher net margin than 47% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

100th percentile

$420,007

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 76.9% of source-year revenue.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Asset Growth

76th percentile

16%

Faster asset growth than 76% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

81st percentile

25%

Faster revenue growth than 81% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$355,301

Up $49,904 (+16%) from 2023

Liabilities

Up

$68,159

Up $34,978 (+105%) from 2023

Net Assets

Up

$287,142

Up $14,926 (+5.5%) from 2023

Operations
Liabilities / Revenue64th percentileNet Margin47th percentile

Revenue

Up

$545,861

Up $107,538 (+25%) from 2023

Expenses

Up

$530,935

Up $116,901 (+28%) from 2023

Net Income

Down

$14,926

Down $9,363 (-39%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth76th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400K$300K$200K$100K$0Assets 2010: $123,347Liabilities 2010: $90,554Net Assets 2010: $32,7932010Assets 2011: $163,420Liabilities 2011: $101,801Net Assets 2011: $61,6192011Assets 2012: $228,350Liabilities 2012: $144,412Net Assets 2012: $83,9382012Assets 2013: $266,916Liabilities 2013: $164,486Net Assets 2013: $102,4302013Assets 2014: $349,199Liabilities 2014: $182,305Net Assets 2014: $166,8942014Assets 2015: $210,196Liabilities 2015: $17,943Net Assets 2015: $192,2532015Assets 2016: $200,349Liabilities 2016: $23,614Net Assets 2016: $176,7352016Assets 2017: $217,435Liabilities 2017: $39,402Net Assets 2017: $178,0332017Assets 2018: $244,080Liabilities 2018: $9,629Net Assets 2018: $234,4512018Assets 2019: $252,913Liabilities 2019: $16,033Net Assets 2019: $236,8802019Assets 2020: $292,522Liabilities 2020: $7,621Net Assets 2020: $284,9012020Assets 2021: $263,643Liabilities 2021: $6,147Net Assets 2021: $257,4962021Assets 2022: $260,544Liabilities 2022: $12,617Net Assets 2022: $247,9272022Assets 2023: $305,397Liabilities 2023: $33,181Net Assets 2023: $272,2162023Assets 2024: $355,301Liabilities 2024: $68,159Net Assets 2024: $287,1422024

Highlighted filing

2024

Assets$355,301
Liabilities$68,159
Net Assets$287,142
Open 2024 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$800K$600K$400K$200K$0-$200KExpenses 2010: $389,3092010Expenses 2011: $408,8912011Expenses 2012: $492,3872012Revenue 2013: $585,899Expenses 2013: $567,407Net Income 2013: $18,4922013Revenue 2014: $569,454Expenses 2014: $562,205Net Income 2014: $7,2492014Revenue 2015: $583,988Expenses 2015: $558,629Net Income 2015: $25,3592015Revenue 2016: $491,537Expenses 2016: $507,055Net Income 2016: -$15,5182016Revenue 2017: $469,447Expenses 2017: $468,149Net Income 2017: $1,2982017Revenue 2018: $488,908Expenses 2018: $432,490Net Income 2018: $56,4182018Revenue 2019: $407,640Expenses 2019: $405,211Net Income 2019: $2,4292019Revenue 2020: $646,848Expenses 2020: $598,827Net Income 2020: $48,0212020Revenue 2021: $580,598Expenses 2021: $608,003Net Income 2021: -$27,4052021Revenue 2022: $463,349Expenses 2022: $472,918Net Income 2022: -$9,5692022Revenue 2023: $438,323Expenses 2023: $414,034Net Income 2023: $24,2892023Revenue 2024: $545,861Expenses 2024: $530,935Net Income 2024: $14,9262024

Highlighted filing

2024

Revenue$545,861
Expenses$530,935
Net Income$14,926
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$355,301
Liabilities
$68,159
Net assets
$287,142
Revenue
$545,861
Expenses
$530,935
Net income
$14,926
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.55$0.68$2.87$5.46$5.31$0.15
2023Detailed filing. Detailed filing data is available for this year.$3.05$0.33$2.72$4.38$4.14$0.24
2022Detailed filing. Detailed filing data is available for this year.$2.61$0.13$2.48$4.63$4.73$0.10
2021Detailed filing. Detailed filing data is available for this year.$2.64$0.06$2.57$5.81$6.08$0.27
2020Detailed filing. Detailed filing data is available for this year.$2.93$0.08$2.85$6.47$5.99$0.48
2019Detailed filing. Detailed filing data is available for this year.$2.53$0.16$2.37$4.08$4.05$0.02
2018Detailed filing. Detailed filing data is available for this year.$2.44$0.10$2.34$4.89$4.32$0.56
2017Detailed filing. Detailed filing data is available for this year.$2.17$0.39$1.78$4.69$4.68$0.01
2016Detailed filing. Detailed filing data is available for this year.$2.00$0.24$1.77$4.92$5.07$0.16
2015Detailed filing. Detailed filing data is available for this year.$2.10$0.18$1.92$5.84$5.59$0.25
2014Detailed filing. Detailed filing data is available for this year.$3.49$1.82$1.67$5.69$5.62$0.07
2013Detailed filing. Detailed filing data is available for this year.$2.67$1.64$1.02$5.86$5.67$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.28$1.44$0.84$4.92
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.63$1.02$0.62$4.09
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.91$0.33$3.89
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 11, 2025
Return Version
2024v5.0
Gross Receipts
$545,861
Mission and Program Overview

Mission

To foster small business success and grow the region's economy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$179,942$318,401▲ $138,459
Cash and Non-Interest-Bearing Accounts$125,455$36,900▼ $88,555
Total Assets$305,397$355,301▲ $49,904
Liabilities
Accounts Payable and Accrued Expenses$25,381$65,746▲ $40,365
Deferred Revenue$7,800$2,413▼ $5,387
Total Liabilities$33,181$68,159▲ $34,978
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$272,216$287,142▲ $14,926
Total Net Assets Fund Balance$272,216$287,142▲ $14,926
Total Liabilities and Net Assets / Fund Balance$305,397$355,301▲ $49,904
Compensation and Service Providers
Top Officer Pay100th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bryan StephensPresident an--$420,007$420,007
Jolie SpiersCenter DirecFT$117,000$14,907$131,907

Board Members and Trustees

NameTitle
Pratik KothariChair
Bryan StephensPresident and CEO
George MarquezDirector
Jeff RichardsonDirector
Jody a KeenanEx Officio M
Sylvia HainesSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$543,505
Program Service Revenue
$0
Investment Income
$2,356
Other Revenue
$0
All Other Contributions
$1,375
Change in Net Assets
$14,926

Audited Revenue Reconciliation

Revenue per Audited Statements
$545,861
Total Revenue per Audited Statements
$545,861
Total Revenue per Form 990
$545,861
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$441,841
Other Expenses$89,094
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$368,691
Fees for Services Other---$54,179
Payroll Taxes---$28,343
Other Employee Benefits---$24,617
Pension Plan Contributions---$20,190
Travel---$7,918
Fees for Services Accounting---$7,450
Office Expenses---$2,801
Conferences and Meetings---$533
Insurance---$520
All Other Expenses---$396
Other Expenses---$244
Total Functional Expenses$0$0$0$530,935

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$530,935
Total Expenses per Audited Statements$530,935
Total Expenses per Form 990$530,935
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
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

“The officers review form 990 prior to its filing and report to the board. The draft form 990 was also uploaded to guidestar and the email was sent notifying the board members that it was available for preview.”

Form 990, Page 6, Part VI, Line 19

“Organization makes governing documents, conflict of interest policy, and financial statements available to the public upon request. Tax returns are also available for public inspection through guidestar.”

Filing and Contact Details

Filer

Filer Name
Small Business Development Center
EIN
54-1534595
Phone
7576222312
Address
101 W MAIN STREET SUITE 800, NORFOLK, VA 23510-1670

Signing Officer

Name
Sylvia Haines
Title
Secretary
Phone
7576222312
Signed
2025-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sylvia Haines
Formed
1990
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
5
Employees
7
Volunteers
20

Preparer

Firm
Jones CPA Group Pc
Address
120 ATLANTIC STREET SUITE 300, NORFOLK, VA 23510-1729
Preparer
Kathleen Davanzo CPA
Phone
7576277672
Supplemental Narrative

Additional Explanations

Form 990, Part V

“Line 2b the hampton roads chamber of commerce processess the payroll for this entity and the w-2's and 941's are filed under the chamber of commerce.”

Form 990, Part IX, Line 11G

“Consultant fees 54,179 0 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“The chamber and the affiliates are tax exempt from federal income taxes under section 501(c)(3) or 501(c)(6) of the internal revenue code; accordingly,the accompanying combined financial statements do no reflect a provision or liability for federal and state income taxes. However, income from certain activities not directly related to the chamber's tax-exempt purpose is subject to taxation as unrelated business income. The chamber and the affiliates have determined that it does not have any material unrecognized tax benefits or obligations as of december 31, 2024.”

Raw XML Appendix367 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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt110000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0350000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1130000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt027607
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt116767
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt05400
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRYAN STEPHENS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1SYLVIA HAINES
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT AND CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1SECRETARY
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1156767
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0LINE 2B THE HAMPTON ROADS CHAMBER OF COMMERCE PROCESSESS THE PAYROLL FOR THIS ENTITY AND THE W-2'S AND 941'S ARE FILED UNDER THE CHAMBER OF COMMERCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE OFFICERS REVIEW FORM 990 PRIOR TO ITS FILING AND REPORT TO THE BOARD. THE DRAFT FORM 990 WAS ALSO UPLOADED TO GUIDESTAR AND THE EMAIL WAS SENT NOTIFYING THE BOARD MEMBERS THAT IT WAS AVAILABLE FOR PREVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION MAKES GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. TAX RETURNS ARE ALSO AVAILABLE FOR PUBLIC INSPECTION THROUGH GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTANT FEES 54,179 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART V
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt119532
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0COST ALLOCATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1COST ALLOCATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0HAMPTON ROADS CHAMBER OF COMMERCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1HAMPTON ROADS CHAMBER OF COMMERCE
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IRS990/TotalAssetsGrp/BOYAmt0305397
IRS990/TotalAssetsGrp/EOYAmt0355301
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt0543505
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0530935
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt033181
IRS990/TotalLiabilitiesEOYAmt068159
IRS990/TotalLiabilitiesGrp/BOYAmt033181
IRS990/TotalLiabilitiesGrp/EOYAmt068159
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0272216
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0287142
IRS990/TotalOtherCompensationAmt059281
IRS990/TotalReportableCompFromOrgAmt0117000
IRS990/TotalRevenueGrp/ExclusionAmt02356
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0545861
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0305397
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0355301
IRS990/TotReportableCompRltdOrgAmt0532400
IRS990/TransactionWithControlEntInd0true
IRS990/TravelGrp/TotalAmt07918
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd023510
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HRSBDC.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SYLVIA HAINES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum07576222312
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SMALL BUSINESS DEVELOPMENT CENTER
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OF HAMPTON ROADS
ReturnHeader/Filer/BusinessNameControlTxt0SMAL
ReturnHeader/Filer/EIN0541534595
ReturnHeader/Filer/PhoneNum07576222312
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ReturnHeader/Filer/USAddress/CityNm0NORFOLK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd0235101670
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541208437
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JONES CPA GROUP PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0120 ATLANTIC STREET SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0235101729
ReturnHeader/PreparerPersonGrp/PhoneNum07576277672
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KATHLEEN DAVANZO CPA
ReturnHeader/ReturnTs02025-11-12T15:51:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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