Civic Intelligence

Small Business Development Center of Hampton Roads Inc

990 • Fiscal year 2023 • EIN 54-1534595

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 30, 2024

Organization ProfileHRSBDC.ORG
101 W Main Street Suite 800Norfolk, VA 23510-1670

(757) 622-2312

Siviq Scores

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

Liabilities / Assets

74th percentile

0.11x

Higher debt load relative to assets than 74% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

72nd percentile

0.08x

Higher debt load relative to revenue than 72% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Net Margin

59th percentile

5.5%

Higher net margin than 59% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Top Officer Pay

100th percentile

$427,331

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 97.5% of source-year revenue.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Asset Growth

77th percentile

17%

Faster asset growth than 77% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

31st percentile

-5.4%

Faster revenue growth than 31% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$305,397

Up $44,853 (+17%) from 2022

Net Assets

Up

$272,216

Up $24,289 (+9.8%) from 2022

Liabilities

Up

$33,181

Up $20,564 (+163%) from 2022

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin59th percentile

Revenue

Down

$438,323

Down $25,026 (-5.4%) from 2022

Expenses

Down

$414,034

Down $58,884 (-12%) from 2022

Net Income

Up

$24,289

Up $33,858 (+354%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$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

2023

Assets$305,397
Liabilities$33,181
Net Assets$272,216
Open 2023 Filing

Operations Trend

Revenue Growth31st percentile

Revenue, expenses, and net income across loaded years, with this 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

2023

Revenue$438,323
Expenses$414,034
Net Income$24,289
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 30, 2024
Return Version
2023v5.0
Gross Receipts
$438,323
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$189,209$179,942▼ $9,267
Cash and Non-Interest-Bearing Accounts$71,335$125,455▲ $54,120
Total Assets$260,544$305,397▲ $44,853
Liabilities
Accounts Payable and Accrued Expenses$12,617$25,381▲ $12,764
Deferred Revenue-$7,800-
Total Liabilities$12,617$33,181▲ $20,564
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$247,927$272,216▲ $24,289
Total Net Assets Fund Balance$247,927$272,216▲ $24,289
Total Liabilities and Net Assets / Fund Balance$260,544$305,397▲ $44,853
Compensation and Service Providers
Top Officer Pay100th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Bryan StephensPresident an--$427,331$427,331
Jolie SpiersCenter DirecFT$100,000$13,839$113,839

Board Members and Trustees

NameTitle
Jeff TannerChair
Bryan StephensPresident and CEO
George MarquezDirector
Jeff RichardsonDirector
Jody a KeenanEx Officier
Sylvia HainesSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$438,323
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$500
Change in Net Assets
$24,289

Audited Revenue Reconciliation

Revenue per Audited Statements
$438,323
Total Revenue per Audited Statements
$438,323
Total Revenue per Form 990
$438,323
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$325,306
Other Expenses$88,728
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$170,830
Current Officers, Directors, Trustees, and Key Employees---$100,000
Fees for Services Other---$65,552
Payroll Taxes---$21,268
Other Employee Benefits---$19,061
Pension Plan Contributions---$14,147
Fees for Services Accounting---$7,597
Travel---$7,597
Office Expenses---$1,264
Other Expenses---$939
Insurance---$449
Conferences and Meetings---$377
All Other Expenses---$216
Fees for Services Legal---$150
Total Functional Expenses$0$0$0$414,034

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$414,034
Total Expenses per Audited Statements$414,034
Total Expenses per Form 990$414,034
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
2024-10-30
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
3

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 65,552 0 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“The chamber and the affiliates are exempt from federal income taxes under section 501(c)(3) or 501(c)(6) of the internal revenue code; accordingly, the accompanying combined financial statemnts do not 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 deteremend that it does not have any material unrecognized tax benefits or obligations as of december 31, 2023.”

Schedule D, Page 4, Part XIII

“The chamber and the affiliates are 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 not 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, 2023.”

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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 CHAMBER AND THE AFFILIATES ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OR 501(C)(6) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE ACCOMPANYING COMBINED FINANCIAL STATEMNTS DO NOT 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 DETEREMEND THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF DECEMBER 31, 2023.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE CHAMBER AND THE AFFILIATES ARE 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 NOT 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, 2023.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XIII
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT AND CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1SECRETARY
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1167295
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IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenEmploymentContractInd0X
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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 65,552 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/RentalOfFcltsFromOthOrgInd0false
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0300672
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt116733
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0COST ALLOCATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1COST ALLOCATION
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
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IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012617
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IRS990/TotalLiabilitiesGrp/BOYAmt012617
IRS990/TotalLiabilitiesGrp/EOYAmt033181
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0247927
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0272216
IRS990/TotalOtherCompensationAmt053065
IRS990/TotalReportableCompFromOrgAmt0100000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0438323
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0305397
IRS990/TotReportableCompRltdOrgAmt0555400
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IRS990/TravelGrp/TotalAmt07597
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IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd023510
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IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0HRSBDC.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SYLVIA HAINES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum07576222312
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SMALL BUSINESS DEVELOPMENT CENTER
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0OF HAMPTON ROADS
ReturnHeader/Filer/BusinessNameControlTxt0SMAL
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ReturnHeader/Filer/PhoneNum07576222312
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541208437
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JONES CPA GROUP PC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0235101729
ReturnHeader/PreparerPersonGrp/PhoneNum07576277672
ReturnHeader/PreparerPersonGrp/PreparationDt02024-10-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KATHLEEN DAVANZO CPA
ReturnHeader/ReturnTs02024-11-08T11:10:39-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$305,397
Liabilities
$33,181
Net assets
$272,216
Revenue
$438,323
Expenses
$414,034
Net income
$24,289
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