Civic Intelligence

Smithfield-Preston Foundation

990 • Fiscal year 2022 • EIN 54-1785583

Jul 01, 2021 to Jun 30, 2022 • Filed on Dec 15, 2022

PO Box 11531Blacksburg, VA 24062

(540) 231-3947

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$3,436,600

Down $135,731 (-3.8%) from 2021

Net Assets

Down

$3,432,333

Down $107,982 (-3.1%) from 2021

Liabilities

Down

$4,267

Down $27,749 (-87%) from 2021

Revenue And Expenses

Revenue

Up

$389,597

Up $85,987 (+28%) from 2021

Expenses

Up

$347,380

Up $57,056 (+20%) from 2021

Net Income

Up

$42,217

Up $28,931 (+218%) from 2021

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $435,355Liabilities 2011: $0Net Assets 2011: $435,3552011Assets 2013: $654,778Liabilities 2013: $0Net Assets 2013: $654,7782013Assets 2014: $3,336,009Liabilities 2014: $4,396Net Assets 2014: $3,331,6132014Assets 2015: $3,362,364Liabilities 2015: $3,238Net Assets 2015: $3,359,1262015Assets 2016: $3,432,704Liabilities 2016: $8,564Net Assets 2016: $3,424,1402016Assets 2017: $3,650,605Liabilities 2017: $13,704Net Assets 2017: $3,636,9012017Assets 2018: $3,702,006Liabilities 2018: $11,768Net Assets 2018: $3,690,2382018Assets 2019: $3,848,789Liabilities 2019: $7,632Net Assets 2019: $3,841,1572019Assets 2020: $3,422,733Liabilities 2020: $34,563Net Assets 2020: $3,388,1702020Assets 2021: $3,572,331Liabilities 2021: $32,016Net Assets 2021: $3,540,3152021Assets 2022: $3,436,600Liabilities 2022: $4,267Net Assets 2022: $3,432,3332022Assets 2022: $3,448,841Liabilities 2022: $4,267Net Assets 2022: $3,444,5742022Assets 2023: $3,312,598Liabilities 2023: $5,056Net Assets 2023: $3,307,5422023Assets 2024: $3,302,889Liabilities 2024: $3,540Net Assets 2024: $3,299,3492024

Highlighted filing

2022

Assets$3,436,600
Liabilities$4,267
Net Assets$3,432,333

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $82,313Expenses 2011: $71,964Net Income 2011: $10,3492011Revenue 2013: $117,984Expenses 2013: $38,947Net Income 2013: $79,0372013Revenue 2014: $2,460,329Expenses 2014: $60,722Net Income 2014: $2,399,6072014Revenue 2015: $173,985Expenses 2015: $142,431Net Income 2015: $31,5542015Revenue 2016: $206,799Expenses 2016: $130,849Net Income 2016: $75,9502016Revenue 2017: $278,939Expenses 2017: $142,636Net Income 2017: $136,3032017Revenue 2018: $182,283Expenses 2018: $154,752Net Income 2018: $27,5312018Revenue 2019: $209,856Expenses 2019: $228,757Net Income 2019: -$18,9012019Revenue 2020: $191,715Expenses 2020: $344,456Net Income 2020: -$152,7412020Revenue 2021: $303,610Expenses 2021: $290,324Net Income 2021: $13,2862021Revenue 2022: $389,597Expenses 2022: $347,380Net Income 2022: $42,2172022Revenue 2022: $389,597Expenses 2022: $347,380Net Income 2022: $42,2172022Revenue 2023: $133,861Expenses 2023: $336,690Net Income 2023: -$202,8292023Revenue 2024: $302,252Expenses 2024: $307,101Net Income 2024: -$4,8492024

Highlighted filing

2022

Revenue$389,597
Expenses$347,380
Net Income$42,217
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Dec 15, 2022
Return Version
2021v4.2
Gross Receipts
$468,597
Mission and Program Overview

Mission

Preservation Interpretation of Historic Property

Preservation and interpretation of historic property.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,463,969$2,399,090▼ $64,879
Investments in Publicly Traded Securities$784,608$653,492▼ $131,116
Savings and Temporary Cash Investments$41,432$107,775▲ $66,343
Inventories for Sale or Use$8,381$14,543▲ $6,162
Cash and Non-Interest-Bearing Accounts$300$300→ $0
Total Assets$3,560,090$3,436,600▼ $123,490
Other Assets Total$261,400$261,400→ $0
Liabilities
Unsecured Notes Loans Payable$26,105--
Other Liabilities$5,911$4,267▼ $1,644
Total Liabilities$32,016$4,267▼ $27,749
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,403,342$3,251,341▼ $152,001
Net Assets With Donor Restrictions$124,732$180,992▲ $56,260
Total Net Assets Fund Balance$3,528,074$3,432,333▼ $95,741
Total Liabilities and Net Assets / Fund Balance$3,560,090$3,436,600▼ $123,490

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,062,038$478,288$2,540,326
Land$321,250-$321,250
Other Land Buildings$12,690$4,578$17,268
Equipment$3,112$9,825$12,937
Other Assets Org$261,400--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ryan SpencerExecutive DirectorFT$94,167$94,167
Revenue and Support

Revenue Composition

Contributions and Grants
$267,412
Program Service Revenue
$25,378
Investment Income
$68,165
Other Revenue
$28,642
All Other Contributions
$250,412
Change in Net Assets
$42,217
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$195,187
Salaries, Compensation, and Employee Benefits$152,193
Total Fundraising Expense$3,484
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$74,392$17,892$1,883$94,167
Depreciation Depletion$66,777--$66,777
Other Salaries and Wages$37,165$8,939$941$47,045
All Other Expenses$30,970$711$321$32,002
Other Expenses$21,193$1,701$72$21,193
Occupancy$9,996$3,157-$13,153
Advertising$12,837$262-$13,099
Insurance$9,266$3,785-$13,051
Payroll Taxes$8,675$2,086$220$10,981
Fees for Services Accounting-$8,280-$8,280
Fees for Service Investment Mgmnt Fees-$7,580-$7,580
Fees for Services Other-$3,386-$3,386
Information Technology-$2,612-$2,612
Office Expenses-$2,052$42$2,094
Interest-$542-$542
Travel$212$51$5$268
Total Functional Expenses$276,870$67,026$3,484$347,380
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$7,797
Fundraising Direct Expenses$5,129
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
Credit card$3,294
Payroll tax withholding$860
Sales tax payable$113
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 governing body review Part VI line 11

The 990 is reviewed and approved by the board of directors before it is filed.

Conflict of interest policy compliance Part VI line 12C

The organization requires employees and board members to sign an annual conflict of interest statement.

CEO executive director top management comp Part VI line 15A

The Organization performs an independent review and looks to comparable salaries when determining the compensation for the Executive Director.

Governing documents etc available to public Part VI line 19

The organizations governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Smithfield Preston Foundation
EIN
54-1785583
Address
PO Box 11531, Blacksburg, VA 24062

Signing Officer

Name
Michael Hudson
Title
Executive Direc
Phone
5402313947
Signed
2022-12-15
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Va
Voting Board Members
18
Independent Board Members
18
Employees
5
Volunteers
100

Preparer

Firm
MartinArthur CPAs
Address
PO Box 6174, Christiansburg, VA 24068
Preparer
Phillip Martin
Phone
5403812340
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Unrealized gains on investments

List of other expenses Part IX line 24E

Postage $ 444Printing 1,834Supplies 29,424Total $31,702

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IRS990/GrossRentsGrp/RealAmt020980
IRS990/GrossSalesOfInventoryAmt010211
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt018
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt02612
IRS990/InformationTechnologyGrp/TotalAmt02612
IRS990/InsuranceGrp/ManagementAndGeneralAmt03785
IRS990/InsuranceGrp/ProgramServicesAmt09266
IRS990/InsuranceGrp/TotalAmt013051
IRS990/InterestGrp/ManagementAndGeneralAmt0542
IRS990/InterestGrp/TotalAmt0542
IRS990/InventoriesForSaleOrUseGrp/BOYAmt08381
IRS990/InventoriesForSaleOrUseGrp/EOYAmt014543
IRS990/InvestmentIncomeGrp/ExclusionAmt012322
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt012322
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0784608
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0653492
IRS990/IRPDocumentCnt06
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0492691
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02463969
IRS990/LandBldgEquipBasisNetGrp/EOYAmt02399090
IRS990/LandBldgEquipCostOrOtherBssAmt02891781
IRS990/LegalDomicileStateCd0VA
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt068650
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Preservation and interpretation of historic property.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt03528074
IRS990/NetAssetsOrFundBalancesEOYAmt03432333
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt055843
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt055843
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt02668
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt02668
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt04990
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt04990
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt020980
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt020980
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-137958
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt03403342
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt03251341
IRS990/NoncashContributionsAmt0300
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt03157
IRS990/OccupancyGrp/ProgramServicesAmt09996
IRS990/OccupancyGrp/TotalAmt013153
IRS990/OfficeExpensesGrp/FundraisingAmt042
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02052
IRS990/OfficeExpensesGrp/TotalAmt02094
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0261400
IRS990/OtherAssetsTotalGrp/EOYAmt0261400
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Rent expense
IRS990/OtherExpensesGrp/Desc1Dues and subscriptions
IRS990/OtherExpensesGrp/Desc2Bank fees
IRS990/OtherExpensesGrp/Desc3Repairs and maintenance
IRS990/OtherExpensesGrp/FundraisingAmt072
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02266
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11724
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21701
IRS990/OtherExpensesGrp/ProgramServicesAmt05387
IRS990/OtherExpensesGrp/ProgramServicesAmt121193
IRS990/OtherExpensesGrp/TotalAmt02266
IRS990/OtherExpensesGrp/TotalAmt17183
IRS990/OtherExpensesGrp/TotalAmt21701
IRS990/OtherExpensesGrp/TotalAmt321193
IRS990/OtherLiabilitiesGrp/BOYAmt05911
IRS990/OtherLiabilitiesGrp/EOYAmt04267
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0Other income
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt04
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt04
IRS990/OtherRevenueTotalAmt04
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0941
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt08939
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt037165
IRS990/OtherSalariesAndWagesGrp/TotalAmt047045
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt0220
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02086
IRS990/PayrollTaxesGrp/ProgramServicesAmt08675
IRS990/PayrollTaxesGrp/TotalAmt010981
IRS990/PoliticalCampaignActyInd0false
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0Museum admissions
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt025378
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt025378
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0221716
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt027319
IRS990/PYOtherExpensesAmt0149909
IRS990/PYOtherRevenueAmt027047
IRS990/PYProgramServiceRevenueAmt015287
IRS990/PYRevenuesLessExpensesAmt01045
IRS990/PYSalariesCompEmpBnftPaidAmt0140415
IRS990/PYTotalExpensesAmt0290324
IRS990/PYTotalRevenueAmt0291369
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt042217
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt020980
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt041432
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0107775
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0267412
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0221719
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0130947
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt096822
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt096259
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0813159
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt068165
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt027319
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt031489

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.30$0.00$3.30$0.30$0.31$0.00
2023Detailed filing. Detailed filing data is available for this year.$3.31$0.01$3.31$0.13$0.34$0.20
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.45$0.00$3.44$0.39$0.35$0.04
2022Detailed filing. Detailed filing data is available for this year.$3.44$0.00$3.43$0.39$0.35$0.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.57$0.03$3.54$0.30$0.29$0.01
2020Detailed filing. Detailed filing data is available for this year.$3.42$0.03$3.39$0.19$0.34$0.15
2019Detailed filing. Detailed filing data is available for this year.$3.85$0.01$3.84$0.21$0.23$0.02
2018Detailed filing. Detailed filing data is available for this year.$3.70$0.01$3.69$0.18$0.15$0.03
2017Detailed filing. Detailed filing data is available for this year.$3.65$0.01$3.64$0.28$0.14$0.14
2016Detailed filing. Detailed filing data is available for this year.$3.43$0.01$3.42$0.21$0.13$0.08
2015Detailed filing. Detailed filing data is available for this year.$3.36$0.00$3.36$0.17$0.14$0.03
2014Summary only. Only limited summary data is available for this year.$3.34$0.00$3.33$2.46$0.06$2.40
2013Detailed filing. Detailed filing data is available for this year.$0.65$0.00$0.65$0.12$0.04$0.08
2011Summary only. Only limited summary data is available for this year.$0.44$0.00$0.44$0.08$0.07$0.01