Civic Intelligence

Business Development Centre Inc.

990 • Fiscal year 2022 • EIN 54-1598026

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 09, 2022

Organization ProfileWWW.LBDC.COM
147 Mill Ridge RdLynchburg, VA 24502

(434) 583-6100

Siviq Scores

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

Liabilities / Assets

90th percentile

0.72x

Higher debt load relative to assets than 90% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

96th percentile

5.44x

Higher debt load relative to revenue than 96% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

55th percentile

9.5%

Higher net margin than 55% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

53rd percentile

$65,000

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 24.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

50th percentile

1.3%

Faster asset growth than 50% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

24th percentile

-13%

Faster revenue growth than 24% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$2,049,748

Up $26,627 (+1.3%) from 2021

Net Assets

Up

$575,459

Up $25,704 (+4.7%) from 2021

Liabilities

Up

$1,474,289

Up $923 (+0.1%) from 2021

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin55th percentile

Revenue

Down

$270,972

Down $39,285 (-13%) from 2021

Expenses

Down

$245,268

Down $14,335 (-5.5%) from 2021

Net Income

Down

$25,704

Down $24,950 (-49%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $963,869Liabilities 2011: $707,469Net Assets 2011: $256,4002011Assets 2012: $950,785Liabilities 2012: $706,156Net Assets 2012: $244,6292012Assets 2013: $1,782,761Liabilities 2013: $1,511,229Net Assets 2013: $271,5322013Assets 2014: $1,803,022Liabilities 2014: $1,507,825Net Assets 2014: $295,1972014Assets 2015: $1,962,658Liabilities 2015: $1,640,407Net Assets 2015: $322,2512015Assets 2016: $1,987,243Liabilities 2016: $1,646,791Net Assets 2016: $340,4522016Assets 2017: $2,023,625Liabilities 2017: $1,644,750Net Assets 2017: $378,8752017Assets 2018: $2,036,685Liabilities 2018: $1,640,516Net Assets 2018: $396,1692018Assets 2019: $1,883,941Liabilities 2019: $1,462,802Net Assets 2019: $421,1392019Assets 2020: $1,971,913Liabilities 2020: $1,472,812Net Assets 2020: $499,1012020Assets 2021: $2,023,121Liabilities 2021: $1,473,366Net Assets 2021: $549,7552021Assets 2022: $2,049,748Liabilities 2022: $1,474,289Net Assets 2022: $575,4592022Assets 2023: $2,067,714Liabilities 2023: $1,466,443Net Assets 2023: $601,2712023Assets 2024: $1,624,217Liabilities 2024: $960,188Net Assets 2024: $664,0292024Assets 2025: $1,421,605Liabilities 2025: $699,224Net Assets 2025: $722,3812025

Highlighted filing

2022

Assets$2,049,748
Liabilities$1,474,289
Net Assets$575,459
Open 2022 Filing

Operations Trend

Revenue Growth24th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2011: $354,302Expenses 2011: $362,307Net Income 2011: -$8,0052011Expenses 2012: $325,1712012Revenue 2013: $311,966Expenses 2013: $285,063Net Income 2013: $26,9032013Revenue 2014: $261,878Expenses 2014: $238,213Net Income 2014: $23,6652014Revenue 2015: $261,083Expenses 2015: $234,029Net Income 2015: $27,0542015Revenue 2016: $261,129Expenses 2016: $242,928Net Income 2016: $18,2012016Revenue 2017: $276,543Expenses 2017: $238,120Net Income 2017: $38,4232017Revenue 2018: $219,686Expenses 2018: $202,392Net Income 2018: $17,2942018Revenue 2019: $253,300Expenses 2019: $228,330Net Income 2019: $24,9702019Revenue 2020: $308,858Expenses 2020: $230,896Net Income 2020: $77,9622020Revenue 2021: $310,257Expenses 2021: $259,603Net Income 2021: $50,6542021Revenue 2022: $270,972Expenses 2022: $245,268Net Income 2022: $25,7042022Revenue 2023: $281,408Expenses 2023: $255,596Net Income 2023: $25,8122023Revenue 2024: $309,624Expenses 2024: $246,866Net Income 2024: $62,7582024Revenue 2025: $316,950Expenses 2025: $258,598Net Income 2025: $58,3522025

Highlighted filing

2022

Revenue$270,972
Expenses$245,268
Net Income$25,704
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 9, 2022
Return Version
2021v4.2
Gross Receipts
$270,972
Mission and Program Overview

Mission

To provide counseling and education for individuals who are interested in starting their own business.

To provide counseling and education for individuals who are interested in starting their own business

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,090,715$1,588,371▲ $497,656
Rtn Earn Endowment Incm Other Fnds$549,755$575,459▲ $25,704
Other Notes and Loans Receivable, Net$931,138$461,102▼ $470,036
Accounts Receivable$829$0▼ $829
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$2,023,121$2,049,748▲ $26,627
Other Assets Total$439$275▼ $164
Liabilities
Other Liabilities$1,440,060$1,442,269▲ $2,209
Accounts Payable and Accrued Expenses$33,306$32,020▼ $1,286
Total Liabilities$1,473,366$1,474,289▲ $923
Net Assets / Fund Balance
Total Net Assets Fund Balance$549,755$575,459▲ $25,704
Total Liabilities and Net Assets / Fund Balance$2,023,121$2,049,748▲ $26,627

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$0$24,375$24,375
Compensation and Service Providers
Top Officer Pay53rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Byron StewardSecretaryFT$65,000$65,000

Board Members and Trustees

NameTitle
Pavilina DiromChairwoman
Samuel HoweVice Chair
Anna BentsonDirector
Brandon M BaberDirector
Cheryl ValentineDirector
Corey DavisDirector
Donna WittDirector
Kamal DardenDirector
Michael a ForrenDirector
Stedman PayneDirector
Holly RoarkTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$42,660
Investment Income
$1,066
Other Revenue
$227,246
Change in Net Assets
$25,704

Audited Revenue Reconciliation

Revenue per Audited Statements
$270,972
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$270,972
Total Revenue per Form 990
$270,972
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$148,809
Salaries, Compensation, and Employee Benefits$96,459
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$48,750$16,250-$65,000
Occupancy$61,431--$61,431
Other Salaries and Wages$18,828$6,276-$25,104
Fees for Services Accounting-$17,734-$17,734
Office Expenses$9,490$3,163-$12,653
Payroll Taxes$4,766$1,589-$6,355
Other Expenses$1,096--$1,096
All Other Expenses$535--$535
Advertising$10--$10
Total Functional Expenses$200,256$45,012$0$245,268

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$245,268
Total Expenses per Audited Statements$245,268
Total Expenses per Form 990$245,268
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 Lynchburg Economic Development Authority$778,519
Due to Economic Development Administration$495,000
Due to City of Lynchburg$125,000
Due to Virginia Enterprise Initiative$40,000
Security Deposits$3,750
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“All corporate documents including governing documents, the conflict of interest policy, and financial statements are on file and available by the public for reviewing during regular office hours”

Form 990, Part VI, Section B, Line 12C

“All new officers and directors are provided a copy of the conflict of interest policy when they assume their position in october of each calender year. This policy is reviewed and presented to the board of directors, outlining any changes and reminding them of their duty to make any disclosure of any situation/activity that may be considered as a conflict of interest. If anyone discloses what they believe may be a conflict of interest, they are asked to leave the meeting while discussion and a resulting vote is made on the potential conflict of interest. The chairperson may appoint a disinterested person or committee to investigate the proposed transaction or arrangement after exercising due diligence, the board of directors or the assigned committee will determine what steps are needed, if any, to eliminate or correct a possible conflict of interest.”

Form 990, Part VI, Section B, Line 15A

“The compensation and performance of the executive director is annually reviewed by a committee comprised of board members. Performance measures and comparable data is provided for consideration when an increase in salary is being considered. This process coincides with the preliminary review and approval process of the budget for the upcoming fiscal year.”

Form 990, Part VI, Section C, Line 19

“Upon completion of form 990, it is presented to the board members for their review before being filed. This procedure has not changed from the prior year.”

Filing and Contact Details

Filer

Filer Name
Business Development Centre Inc
EIN
54-1598026
Phone
4345836100
Address
147 MILL RIDGE RD, LYNCHBURG, VA 24502

Signing Officer

Name
Byron Steward
Title
Executive Director
Phone
4345836100
Signed
2022-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Byron Steward
Formed
1991
Legal Domicile
Va
Voting Board Members
12
Independent Board Members
12
Employees
3
Volunteers
3

Preparer

Firm
Brown Edwards & Company Llp
Address
828 MAIN STREET SUITE 1401, LYNCHBURG, VA 24504
Preparer
Patrick Pittman
Phone
4349489000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The organization has a committee that assumes responsibility for oversight of the audit. This oversight procedure has not changed during the year.”

Financial Statement Notes

PART X, LINE 2:

“The internal revenue service has ruled that the centre is exempt from income taxes under section 501(c)(3) of the internal revenue code”

Raw XML AppendixShowing 400 of 496 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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IRS990/OtherExpensesGrp/Desc1MAINTENANCE
IRS990/OtherExpensesGrp/Desc2PHONE AND COMMUNICATION
IRS990/OtherExpensesGrp/Desc3MISCELLANOUS
IRS990/OtherExpensesGrp/ProgramServicesAmt025859
IRS990/OtherExpensesGrp/ProgramServicesAmt124957
IRS990/OtherExpensesGrp/ProgramServicesAmt24534
IRS990/OtherExpensesGrp/ProgramServicesAmt31096
IRS990/OtherExpensesGrp/TotalAmt025859
IRS990/OtherExpensesGrp/TotalAmt124957
IRS990/OtherExpensesGrp/TotalAmt24534
IRS990/OtherExpensesGrp/TotalAmt31096
IRS990/OtherLiabilitiesGrp/BOYAmt01440060
IRS990/OtherLiabilitiesGrp/EOYAmt01442269
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt06276
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt018828
IRS990/OtherSalariesAndWagesGrp/TotalAmt025104
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0931138
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0461102
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01589
IRS990/PayrollTaxesGrp/ProgramServicesAmt04766
IRS990/PayrollTaxesGrp/TotalAmt06355
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0BYRON STEWARD
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0EXPENSE REIMBURSMENT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt042660
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt042660
IRS990/ProgSrvcAccomActy2Grp/Desc0TECHNICAL AND MANAGEMENT ASSISTANCE - PROVIDED TECHNICAL ASSISTANCE AND TRAINING TO 135 INDIVIDUALS FOR DEVELOPING SMALL BUSINESS AND PROVIDED GAP FINANCING
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt050065
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt042660
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01000
IRS990/PYOtherExpensesAmt0137759
IRS990/PYOtherRevenueAmt0249087
IRS990/PYProgramServiceRevenueAmt060170
IRS990/PYRevenuesLessExpensesAmt050654
IRS990/PYSalariesCompEmpBnftPaidAmt0121844
IRS990/PYTotalExpensesAmt0259603
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0310257
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt025704
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt01921
IRS990/RentalIncomeOrLossGrp/RealAmt0225325
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0225325
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0549755
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0575459
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt03000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt05000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt08000
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01066
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01000
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt02896
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt03259
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0182
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt08403
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0269905
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0309257
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0305962
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0247041
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0214504
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01346669
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01066
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt01000
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt02896
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt03259
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0182
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt08403
IRS990ScheduleA/InvestmentIncomeCYPct00.00620
IRS990ScheduleA/InvestmentIncomePYPct00.00550
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99380
IRS990ScheduleA/PublicSupportPY509Pct00.99450
IRS990ScheduleA/PublicSupportTotal509Amt01354669
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0269905
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0309257
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0305962
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0250041
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0219504
IRS990ScheduleA/Total509Grp/TotalAmt01354669
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0270971
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0310257
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0308858
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0253300
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0219686
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01363072
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0245268
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt024375
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt024375
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0125000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1495000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2778519
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt340000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt43750
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO CITY OF LYNCHBURG
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO ECONOMIC DEVELOPMENT ADMINISTRATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO LYNCHBURG ECONOMIC DEVELOPMENT AUTHORITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3DUE TO VIRGINIA ENTERPRISE INITIATIVE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0270972
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTERNAL REVENUE SERVICE HAS RULED THAT THE CENTRE IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0245268
IRS990ScheduleD/TotalLiabilityAmt01442269
IRS990ScheduleD/TotalRevenuePerForm990Amt0270972
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0270972
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0245268
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL CORPORATE DOCUMENTS INCLUDING GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE ON FILE AND AVAILABLE BY THE PUBLIC FOR REVIEWING DURING REGULAR OFFICE HOURS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL NEW OFFICERS AND DIRECTORS ARE PROVIDED A COPY OF THE CONFLICT OF INTEREST POLICY WHEN THEY ASSUME THEIR POSITION IN OCTOBER OF EACH CALENDER YEAR. THIS POLICY IS REVIEWED AND PRESENTED TO THE BOARD OF DIRECTORS, OUTLINING ANY CHANGES AND REMINDING THEM OF THEIR DUTY TO MAKE ANY DISCLOSURE OF ANY SITUATION/ACTIVITY THAT MAY BE CONSIDERED AS A CONFLICT OF INTEREST. IF ANYONE DISCLOSES WHAT THEY BELIEVE MAY BE A CONFLICT OF INTEREST, THEY ARE ASKED TO LEAVE THE MEETING WHILE DISCUSSION AND A RESULTING VOTE IS MADE ON THE POTENTIAL CONFLICT OF INTEREST. THE CHAIRPERSON MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE THE PROPOSED TRANSACTION OR ARRANGEMENT AFTER EXERCISING DUE DILIGENCE, THE BOARD OF DIRECTORS OR THE ASSIGNED COMMITTEE WILL DETERMINE WHAT STEPS ARE NEEDED, IF ANY, TO ELIMINATE OR CORRECT A POSSIBLE CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE COMPENSATION AND PERFORMANCE OF THE EXECUTIVE DIRECTOR IS ANNUALLY REVIEWED BY A COMMITTEE COMPRISED OF BOARD MEMBERS. PERFORMANCE MEASURES AND COMPARABLE DATA IS PROVIDED FOR CONSIDERATION WHEN AN INCREASE IN SALARY IS BEING CONSIDERED. THIS PROCESS COINCIDES WITH THE PRELIMINARY REVIEW AND APPROVAL PROCESS OF THE BUDGET FOR THE UPCOMING FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON COMPLETION OF FORM 990, IT IS PRESENTED TO THE BOARD MEMBERS FOR THEIR REVIEW BEFORE BEING FILED. THIS PROCEDURE HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT. THIS OVERSIGHT PROCEDURE HAS NOT CHANGED DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0CITY OF LYNCHBURG
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0546001405
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0170(B)(1)(A)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0VA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CITY GOVERNMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0900 CHURCH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0LYNCHBURG
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0VA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd024504
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,049,748
Liabilities
$1,474,289
Net assets
$575,459
Revenue
$270,972
Expenses
$245,268
Net income
$25,704
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.42$0.70$0.72$0.32$0.26$0.06
2024Detailed filing. Detailed filing data is available for this year.$1.62$0.96$0.66$0.31$0.25$0.06
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.07$1.47$0.60$0.28$0.26$0.03
2022Detailed filing. Detailed filing data is available for this year.$2.05$1.47$0.58$0.27$0.25$0.03
2021Detailed filing. Detailed filing data is available for this year.$2.02$1.47$0.55$0.31$0.26$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.97$1.47$0.50$0.31$0.23$0.08
2019Detailed filing. Detailed filing data is available for this year.$1.88$1.46$0.42$0.25$0.23$0.02
2018Detailed filing. Detailed filing data is available for this year.$2.04$1.64$0.40$0.22$0.20$0.02
2017Detailed filing. Detailed filing data is available for this year.$2.02$1.64$0.38$0.28$0.24$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.99$1.65$0.34$0.26$0.24$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.96$1.64$0.32$0.26$0.23$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.80$1.51$0.30$0.26$0.24$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.78$1.51$0.27$0.31$0.29$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.71$0.24$0.33
2011Summary only. Only limited summary data is available for this year.$0.96$0.71$0.26$0.35$0.36$0.01