Civic Intelligence

Norfolk Collegiate Educational Foundation Inc.

990 • Fiscal year 2019 • EIN 54-1893594

Jul 01, 2018 to Jun 30, 2019 • Filed on May 04, 2020

Organization ProfileN/A
7336 Granby StreetNorfolk, VA 23505

(757) 480-2885

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.00x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

74th percentile

18%

Higher net margin than 74% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

98th percentile

613%

Faster asset growth than 98% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

18th percentile

-29%

Faster revenue growth than 18% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$41,945

Up $36,059 (+613%) from 2018

Net Assets

Up

$41,945

Up $36,059 (+613%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin74th percentile

Revenue

Down

$201,437

Down $80,603 (-29%) from 2018

Expenses

Down

$165,378

Down $111,080 (-40%) from 2018

Net Income

Up

$36,059

Up $30,477 (+546%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

2019

Assets$41,945
Liabilities$0
Net Assets$41,945
Open 2019 Filing

Operations Trend

Revenue Growth18th percentile

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

2019

Revenue$201,437
Expenses$165,378
Net Income$36,059
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 4, 2020
Return Version
2018v3.1
Gross Receipts
$201,437
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$5,886$2▼ $5,884
Total Assets$5,886$41,945▲ $36,059
Other Assets Total$0$41,943▲ $41,943
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$5,886$41,945▲ $36,059
Total Net Assets Fund Balance$5,886$41,945▲ $36,059
Total Liabilities and Net Assets / Fund Balance$5,886$41,945▲ $36,059

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$41,943--
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
William W KingPresident
Betsy MasonVice President
Henry U Harris IiiVice President
Neal P BrodskySecretary
Gary D BonnewellTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$201,400
Program Service Revenue
$0
Investment Income
$37
Other Revenue
$0
All Other Contributions
$201,400
Change in Net Assets
$36,059
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$159,429
Other Expenses$5,949
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$159,429--$159,429
Fees for Services Accounting$5,700--$5,700
Other Expenses$249--$249
Total Functional Expenses$165,378$0$0$165,378
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Norfolk Collegiate SchoolNorfolk, VA501(c)(3)Scholarships$153,690
Boonsboro Elementary SchoolLynchburg, VA501(c)(3)Scholarships$5,739
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 11B

“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

Filer Name
Norfolk Collegiate Educational Foundatio
EIN
54-1893594
Phone
7574802885
Address
7336 GRANBY STREET, NORFOLK, VA 23505

Signing Officer

Name
William W King
Title
President
Phone
7574802885
Signed
2020-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William W King
Formed
1997
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Wall Einhorn & Chernitzer Pc
Address
150 W MAIN ST SUITE 1200, NORFOLK, VA 23510
Preparer
John M Waters
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.”

Raw XML Appendix381 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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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.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0NORFOLK COLLEGIATE SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1BOONSBORO ELEMENTARY SCHOOL
IRS990ScheduleI/RecipientTable/RecipientEIN0540806413
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11234 EAGLE CIRCLE
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd124503
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PROVIDES ASSISTANCE AND GRANTS TO NORFOLK COLLEGIATE SCHOOL AND OTHER PARTNER SCHOOLS IN THE FORM OF FINANCIAL AID. THE ELIGIBILITY CRITERIA IS DETERMINED BY NORFOLK COLLEGIATE SCHOOL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt02
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
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IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
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IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN M WATERS
ReturnHeader/ReturnTs02020-05-04T14:08:19-05:00
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ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$41,945
Liabilities
$0
Net assets
$41,945
Revenue
$201,437
Expenses
$165,378
Net income
$36,059
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