Civic Intelligence

Norfolk Collegiate Educational Foundation Inc.

990 • Fiscal year 2014 • EIN 54-1893594

Jul 01, 2013 to Jun 30, 2014 • Filed on Dec 11, 2014

7336 Granby Street23505

(757) 480-2885

Siviq Scores

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

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

34th percentile

-2.5%

Higher net margin than 34% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

99th percentile

$191,550

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 115.3% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

7th percentile

-56%

Faster asset growth than 7% of similar nonprofits.

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

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Down

$5,378

Down $6,968 (-56%) from 2013

Net Assets

Down

$5,378

Down $4,090 (-43%) from 2013

Liabilities

Down

$0

Down $2,878 (-100%) from 2013

Revenue

$166,146

No earlier filing loaded for comparison.

Expenses

Up

$170,236

Up $72,158 (+74%) from 2013

Net Income

-$4,090

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0-$200KAssets 2010: $665,001Liabilities 2010: $238,509Net Assets 2010: $426,4922010Assets 2011: $2,669Liabilities 2011: $0Net Assets 2011: $2,6692011Assets 2012: $1,442Liabilities 2012: $0Net Assets 2012: $1,4422012Assets 2013: $12,346Liabilities 2013: $2,878Net Assets 2013: $9,4682013Assets 2014: $5,378Liabilities 2014: $0Net Assets 2014: $5,3782014Assets 2015: $19,788Liabilities 2015: $0Net Assets 2015: $19,7882015Assets 2016: $6,105Liabilities 2016: $0Net Assets 2016: $6,1052016Assets 2017: $304Liabilities 2017: $0Net Assets 2017: $3042017Assets 2018: $5,886Liabilities 2018: $0Net Assets 2018: $5,8862018Assets 2019: $41,945Liabilities 2019: $0Net Assets 2019: $41,9452019Assets 2020: $6,975Liabilities 2020: $0Net Assets 2020: $6,9752020Assets 2021: $1,061Liabilities 2021: $1,200Net Assets 2021: -$1392021Assets 2022: $18,955Liabilities 2022: $7,600Net Assets 2022: $11,3552022Assets 2023: $12,648Liabilities 2023: $9,100Net Assets 2023: $3,5482023Assets 2024: $11,290Liabilities 2024: $0Net Assets 2024: $11,2902024

Highlighted filing

2014

Assets$5,378
Liabilities$0
Net Assets$5,378

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2010: $20,0002010Expenses 2011: $423,7282011Expenses 2012: $12,5802012Expenses 2013: $98,0782013Revenue 2014: $166,146Expenses 2014: $170,236Net Income 2014: -$4,0902014Revenue 2015: $157,504Expenses 2015: $143,094Net Income 2015: $14,4102015Revenue 2016: $160,960Expenses 2016: $174,643Net Income 2016: -$13,6832016Revenue 2017: $198,096Expenses 2017: $203,897Net Income 2017: -$5,8012017Revenue 2018: $282,040Expenses 2018: $276,458Net Income 2018: $5,5822018Revenue 2019: $201,437Expenses 2019: $165,378Net Income 2019: $36,0592019Revenue 2020: $98,087Expenses 2020: $133,057Net Income 2020: -$34,9702020Revenue 2021: $1Expenses 2021: $7,115Net Income 2021: -$7,1142021Revenue 2022: $19,092Expenses 2022: $7,598Net Income 2022: $11,4942022Revenue 2023: $55Expenses 2023: $7,862Net Income 2023: -$7,8072023Revenue 2024: $15,806Expenses 2024: $8,064Net Income 2024: $7,7422024

Highlighted filing

2014

Revenue$166,146
Expenses$170,236
Net Income-$4,090
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Dec 11, 2014
Return Version
2013v3.0
Gross Receipts
$166,146
Mission and Program Overview

Mission

Fundraising for providing scholarship assistance for low-income & impoverished students, maintenance of endowment funds, & distribution of funds to such other organizations described in section 501(c)(3) of the internal revenue code to further the exempt purpose of the organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$12,346$5,378▼ $6,968
Total Assets$12,346$5,378▼ $6,968
Liabilities
Other Liabilities$2,878$0▼ $2,878
Total Liabilities$2,878$0▼ $2,878
Net Assets / Fund Balance
Unrestricted Net Assets$9,468$5,378▼ $4,090
Total Net Assets Fund Balance$9,468$5,378▼ $4,090
Total Liabilities and Net Assets / Fund Balance$12,346$5,378▼ $6,968
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Carleton F Bryant IiiTreasurerPT$48,117$48,117

Board Members and Trustees

NameTitle
Betsy MasonPresident
Henry U Harris IiiVice President
William W KingVice President
Scott KennedySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$166,138
Program Service Revenue
$0
Investment Income
$8
Other Revenue
$0
All Other Contributions
$166,138
Change in Net Assets
$-4,090
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$170,000
Other Expenses$236
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$170,000--$170,000
Other Expenses$200--$200
Fees for Services Legal$36--$36
Total Functional Expenses$170,236$0$0$170,236
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
54-0806413-501(c)(3)Scholarships$170,000
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
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 6

The foundation has board members.

Form 990, Part VI, Section A, Line 7A

The foundation has members who may elect other members.

Form 990, Part VI, Section A, Line 7B

The decisions of the board are subject to approval by the memebers of the board.

Form 990, Part VI, Section B, Line 11

The board reviews the 990 before submitting.

Form 990, Part VI, Section C, Line 19

The foundation makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

EIN
54-1893594
Phone
7574802885

Signing Officer

Name
Scott Kennedy
Title
Secretary
Phone
7574802885
Signed
2014-12-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Kennedy
Formed
1997
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Preparer
Susan R Einhorn
Phone
7576254700
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The foundation is exempt from federal income taxes under section 501(c)(3) of the internal revenue code, except on net income derived from unrelated business activities. Internal revenue code section 513(a) defines an unrelated trade of business of an exempt organization as any trade or business which is not substantially related to the exercise or performance of its exempt purpose. Currently the organization has no obligation for any unrelated business income tax. The foundation believes it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the consolidated financial statements; however any penalties and interest incurred as a result of uncertain tax positions would be recorded in miscellaneous and interest expense, respectively. The foundation's federal return of organization exempt from income tax (form 990) is generally not subject to examination by the irs for the returns filed prior to 2011.

Raw XML Appendix377 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/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. INTERNAL REVENUE CODE SECTION 513(A) DEFINES AN UNRELATED TRADE OF BUSINESS OF AN EXEMPT ORGANIZATION AS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. CURRENTLY THE ORGANIZATION HAS NO OBLIGATION FOR ANY UNRELATED BUSINESS INCOME TAX. THE FOUNDATION BELIEVES IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS; HOWEVER ANY PENALTIES AND INTEREST INCURRED AS A RESULT OF UNCERTAIN TAX POSITIONS WOULD BE RECORDED IN MISCELLANEOUS AND INTEREST EXPENSE, RESPECTIVELY. THE FOUNDATION'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) IS GENERALLY NOT SUBJECT TO EXAMINATION BY THE IRS FOR THE RETURNS FILED PRIOR TO 2011.
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PROVIDES ASSISTANCE AND GRANTS TO NORFOLK COLLEGIATE SCHOOL IN THE FORM OF FINANCIAL AID. THE ELIGIBILITY CRITERIA IS DETERMINED BY NORFOLK COLLEGIATE SCHOOL.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION HAS MEMBERS WHO MAY ELECT OTHER MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE DECISIONS OF THE BOARD ARE SUBJECT TO APPROVAL BY THE MEMEBERS OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD REVIEWS THE 990 BEFORE SUBMITTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine10NO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10NORFOLK COLLEGIATE SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0540806413
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0VA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PRIVATE SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine107336 GRANBY STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/City0NORFOLK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/State0VA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCode023505
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0170000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine10NORFOLK COLLEGIATE SCHOOL
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0VA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt012346
IRS990/TotalAssetsEOYAmt05378
IRS990/TotalAssetsGrp/BOYAmt012346
IRS990/TotalAssetsGrp/EOYAmt05378
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0166138
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0170236
IRS990/TotalFunctionalExpensesGrp/TotalAmt0170236
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02878
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt02878
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09468
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05378
IRS990/TotalOtherCompensationAmt03190
IRS990/TotalProgramServiceExpensesAmt0170236
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt08
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0166146
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012346
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05378
IRS990/TotReportableCompRltdOrgAmt0236477
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt09468
IRS990/UnrestrictedNetAssetsGrp/EOYAmt05378
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine107336 GRANBY STREET
IRS990/USAddress/City0NORFOLK
IRS990/USAddress/State0VA
IRS990/USAddress/ZIPCode023505
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SCOTT KENNEDY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum07574802885
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-12-11
ReturnHeader/Filer/BusinessName/BusinessNameLine10NORFOLK COLLEGIATE EDUCATIONAL FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0NORF
ReturnHeader/Filer/EIN0541893594
ReturnHeader/Filer/PhoneNum07574802885
ReturnHeader/Filer/USAddress/AddressLine107336 GRANBY STREET
ReturnHeader/Filer/USAddress/City0NORFOLK
ReturnHeader/Filer/USAddress/State0VA
ReturnHeader/Filer/USAddress/ZIPCode023505
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541517420
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10WALL EINHORN & CHERNITZER PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10555 E MAIN ST SUITE 1600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode023510
ReturnHeader/PreparerPersonGrp/PhoneNum07576254700
ReturnHeader/PreparerPersonGrp/PreparationDt02014-12-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUSAN R EINHORN
ReturnHeader/ReturnTs02014-12-16T15:38:51-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$0.16$0.08$0.08
2023Detailed filing. Detailed filing data is available for this year.$0.13$0.09$0.04$0.00$0.08$0.08
2022Detailed filing. Detailed filing data is available for this year.$0.19$0.08$0.11$0.19$0.08$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.01$0.00$0.00$0.07$0.07
2020Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$0.98$1.33$0.35
2019Detailed filing. Detailed filing data is available for this year.$0.42$0.00$0.42$2.01$1.65$0.36
2018Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$2.82$2.76$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$1.98$2.04$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$1.61$1.75$0.14
2015Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$1.58$1.43$0.14
2014Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.05$1.66$1.70$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.12$0.03$0.09$0.98
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.00$0.01$0.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.03$0.00$0.03$4.24
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.65$2.39$4.26$0.20