Civic Intelligence

Portsmouth Partnership Inc

990 • Fiscal year 2013 • EIN 54-6059292

Jan 01, 2013 to Dec 31, 2013 • Filed on May 08, 2014

Organization ProfileN/A
200 High StreetRoom/Suite 20123704

(757) 397-8473

Siviq Scores

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

Liabilities / Assets

25th percentile

0.04x

Higher debt load relative to assets than 25% of similar nonprofits.

2013 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

83rd percentile

0.57x

Higher debt load relative to revenue than 83% of similar nonprofits.

2013 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2013

Net Margin

4th percentile

-30%

Higher net margin than 4% of similar nonprofits.

2013 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2013 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2013

Asset Growth

57th percentile

6.8%

Faster asset growth than 57% of similar nonprofits.

2013 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

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

Source year 2013

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$1,552,919

Up $98,736 (+6.8%) from 2012

Net Assets

Up

$1,490,133

Up $36,583 (+2.5%) from 2012

Liabilities

Up

$62,786

Up $62,153 (+9819%) from 2012

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin4th percentile

Revenue

$110,271

No earlier filing loaded for comparison.

Expenses

Down

$143,045

Down $28,380 (-17%) from 2012

Net Income

-$32,774

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,535,726Liabilities 2010: $0Net Assets 2010: $1,535,7262010Assets 2011: $1,497,810Liabilities 2011: $15,826Net Assets 2011: $1,481,9842011Assets 2012: $1,454,183Liabilities 2012: $633Net Assets 2012: $1,453,5502012Assets 2013: $1,552,919Liabilities 2013: $62,786Net Assets 2013: $1,490,1332013Assets 2014: $1,565,450Liabilities 2014: $78,491Net Assets 2014: $1,486,9592014Assets 2015: $1,528,659Liabilities 2015: $94,301Net Assets 2015: $1,434,3582015Assets 2016: $1,523,800Liabilities 2016: $109,990Net Assets 2016: $1,413,8102016Assets 2017: $1,600,422Liabilities 2017: $117,540Net Assets 2017: $1,482,8822017Assets 2018: $1,355,109Liabilities 2018: $115,599Net Assets 2018: $1,239,5102018Assets 2019: $1,462,473Liabilities 2019: $115,599Net Assets 2019: $1,346,8742019Assets 2020: $1,176,599Liabilities 2020: $0Net Assets 2020: $1,176,5992020Assets 2021: $1,209,704Liabilities 2021: $7,538Net Assets 2021: $1,202,1662021Assets 2022: $1,432,733Liabilities 2022: $426,858Net Assets 2022: $1,005,8752022Assets 2023: $1,421,174Liabilities 2023: $282,311Net Assets 2023: $1,138,8632023

Highlighted filing

2013

Assets$1,552,919
Liabilities$62,786
Net Assets$1,490,133
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0-$200K-$400KExpenses 2010: $153,6372010Expenses 2011: $158,7542011Expenses 2012: $171,4252012Revenue 2013: $110,271Expenses 2013: $143,045Net Income 2013: -$32,7742013Revenue 2014: $119,461Expenses 2014: $127,812Net Income 2014: -$8,3512014Revenue 2015: $84,460Expenses 2015: $110,345Net Income 2015: -$25,8852015Revenue 2016: $89,886Expenses 2016: $135,942Net Income 2016: -$46,0562016Revenue 2017: $117,316Expenses 2017: $103,239Net Income 2017: $14,0772017Revenue 2018: $106,605Expenses 2018: $118,199Net Income 2018: -$11,5942018Revenue 2019: $128,920Expenses 2019: $120,176Net Income 2019: $8,7442019Revenue 2020: $131,736Expenses 2020: $354,690Net Income 2020: -$222,9542020Revenue 2021: $258,350Expenses 2021: $266,171Net Income 2021: -$7,8212021Revenue 2022: $353,707Expenses 2022: $354,873Net Income 2022: -$1,1662022Revenue 2023: $428,381Expenses 2023: $394,913Net Income 2023: $33,4682023

Highlighted filing

2013

Revenue$110,271
Expenses$143,045
Net Income-$32,774
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
May 8, 2014
Return Version
2013v3.1
Gross Receipts
$152,079
Mission and Program Overview

Mission

To stimulate interest in the industrial and economic development of the city of portsmouth, virginia. To assist, improve and develop existing industries and to assist prospective industries' acquisition of land and buildings for their operation within the city.

To stimulate industrial and economic growth within portsmouth, virginia

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$564,454$655,103▲ $90,649
Other Notes and Loans Receivable, Net$359,774$435,560▲ $75,786
Savings and Temporary Cash Investments$404,062$332,403▼ $71,659
Land, Buildings, and Equipment, Net$101,938$98,072▼ $3,866
Accounts Receivable-$25,772-
Prepaid Expenses and Deferred Charges$2,925$3,013▲ $88
Cash and Non-Interest-Bearing Accounts$21,030$2,996▼ $18,034
Total Assets$1,454,183$1,552,919▲ $98,736
Liabilities
Other Liabilities-$62,786-
Accounts Payable and Accrued Expenses$633--
Total Liabilities$633$62,786▲ $62,153
Net Assets / Fund Balance
Unrestricted Net Assets$1,453,550$1,490,133▲ $36,583
Total Net Assets Fund Balance$1,453,550$1,490,133▲ $36,583
Total Liabilities and Net Assets / Fund Balance$1,454,183$1,552,919▲ $98,736

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$98,072$53,621$151,693
Equipment-$65,597$65,597
Compensation and Service Providers
Top Officer Pay20th percentile

Board Members and Trustees

NameTitle
Shannon GloverPresident
Bradford R CherryDirector
Camille CroftonDirector
Christine N PiersallDirector
David TynchDirector
Donald W Comer JrDirector
Dr Deborah M DicroceDirector
Dr Michelle W WoodhouseDirector
G Robert Aston JrDirector
Herbert a HanemanDirector
J Kenneth JolleyDirector
Jeffrey J KeeverDirector
Jerrold MillerDirector
John E BoyleDirector
John E HallDirector
John StoneDirector
Joseph DonnellyDirector
Joseph M OddisDirector
Mark D SmithDirector
Matthew JamesDirector
Maurice SlaughterDirector
Michael KernerDirector
P Edward Webb IiiDirector
Philip M RudisillDirector
Rev Melvin O MarrinerDirector
Richard E H WentzDirector
Robert E ClendeninDirector
Roger L BrownDirector
Senator L Louise LucasDirector
Stephen J ChaplinDirector
W Carroll CreecyDirector
William H KlineDirector
William Hargrove IiiDirector
William S Magann JrDirector
William S Magann SrDirector
Peter Schleck2nd VP/treas
Bria MatchettExecutive Di
James BentoPast Preside
Peggy MurphySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$25,000
Program Service Revenue
$33,750
Investment Income
$23,176
Other Revenue
$28,345
Change in Net Assets
$-32,774

Audited Revenue Reconciliation

Revenue per Audited Statements
$110,271
Revenue Not Reported on Form 990
$90,357
Total Revenue per Audited Statements
$200,628
Total Revenue per Form 990
$110,271
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$143,045
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$38,181
Fees for Services Accounting---$8,950
Depreciation Depletion---$3,865
Office Expenses---$3,769
Insurance---$2,369
Conferences and Meetings---$2,227
All Other Expenses---$941
Other Expenses---$492
Fees for Services Legal---$400
Advertising---$115
Travel---$78
Total Functional Expenses$0$0$0$143,045

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$164,045
Expenses per Audited Statements$143,045
Total Expenses per Form 990$143,045
Expenses Not Reported on Form 990$21,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$35,866
Fundraising Direct Expenses$9,986
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$35,605$35,605$9,986$25,619
Total Events$35,605$35,605$9,986$25,619
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$62,786
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 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
Yes
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 governing body received a draft of the tax return to approve before final processing.”

Form 990, Page 6, Part VI, Line 12C

“Annually board signs the conflict of interest policy.”

Form 990, Page 6, Part VI, Line 15A

“Annual review and approval by the board.”

Form 990, Page 6, Part VI, Line 15B

“Annual review and approval by the board.”

Form 990, Page 6, Part VI, Line 19

“Documents available upon request.”

Form 990, Part VII

“Line 5 other changes in net assets, represents net unrealized loss on investments of (6,853).”

Filing and Contact Details

Filer

EIN
54-6059292
Phone
7573978473

Signing Officer

Name
Bria Matchett
Title
Executive Director
Phone
7573978473
Signed
2014-05-08

Organization Details

Principal Officer
Bria Matchett
Formed
1983
Legal Domicile
Va
Voting Board Members
39
Independent Board Members
39
Employees
0
Volunteers
25

Preparer

Preparer
Kimberly C Painter
Phone
7579615017
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Overhead reimbursements netted with expenses 21,000 overhead reimbursement netted with expenses -21,000”

Financial Statement Notes

Schedule D, Page 3, Part X

“Liability for uncertain tax positions under fin 48 footnote: the foundation adopted the recognition requirements for uncertain income tax positions as required by generally accepted accounting principles, with no cumulative effect adjustment required. Income tax benefits are recognized for income tax positions taken or expected to be taken in a return, only when it is determined that the income tax position will more- likely-than-not be sustained upon examination by taxing authorities. The organization has analyzed the tax positions taken in its filings with the internal revenue service. The foundation believes that its income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse affect on the organization's financial condition, results of operations or cash flows. Accordingly, the organization has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at december 31, 2013.”

Schedule D, Page 4, Part XI, Line 2D

“Overhead reimbursements netted with expenses 21,000”

Schedule D, Page 4, Part XII, Line 2D

“Overhead reimbursement netted with expenses 21,000”

Schedule D, Page 4, Part XIII

“The organization's federal return of foundation exempt from income tax (form 990) for 2012, 2011, and 2010 are subject to examination by the irs, generally for three years after they were filed.”

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IRS990/Form990PartVIISectionAGrp/PersonNm31WILLIAM HARGROVE III
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IRS990/Form990PartVIISectionAGrp/PersonNm33WILLIAM S MAGANN SR
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IRS990/Form990PartVIISectionAGrp/PersonNm35CHRISTINE N PIERSALL
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IRS990/Form990PartVIISectionAGrp/PersonNm37RICHARD E H WENTZ
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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12PAST PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt242ND VP/TREAS
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt33DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt34DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt35DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt36DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt37DIRECTOR
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Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,552,919
Liabilities
$62,786
Net assets
$1,490,133
Revenue
$110,271
Expenses
$143,045
Net income
-$32,774
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$1.42$0.28$1.14$0.43$0.39$0.03
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.43$1.01$0.35$0.35$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.21$0.01$1.20$0.26$0.27$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.18$0.00$1.18$0.13$0.35$0.22
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.46$0.12$1.35$0.13$0.12$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.36$0.12$1.24$0.11$0.12$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.60$0.12$1.48$0.12$0.10$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.52$0.11$1.41$0.09$0.14$0.05
2015Detailed filing. Detailed filing data is available for this year.$1.53$0.09$1.43$0.08$0.11$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.57$0.08$1.49$0.12$0.13$0.01
2013Detailed filing. Detailed filing data is available for this year.$1.55$0.06$1.49$0.11$0.14$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$0.00$1.45$0.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.50$0.02$1.48$0.16
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.54$0.00$1.54$0.15