Civic Intelligence

Richard Bennett Trust

990 • Fiscal year 2015 • EIN 54-6068391

Jan 01, 2015 to Dec 31, 2015 • Filed on May 11, 2016

Organization ProfileN/A
9356 Eclipse DrSuffolk, VA 23433

(757) 238-3242

Siviq Scores

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

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

9th percentile

0.02x

Higher debt load relative to revenue than 9% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

80th percentile

22%

Higher net margin than 80% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

13th percentile

$18,000

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

33rd percentile

-2.0%

Faster asset growth than 33% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

91st percentile

52%

Faster revenue growth than 91% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets5th percentile

Assets

Down

$12,345,430

Down $251,947 (-2.0%) from 2014

Net Assets

Down

$12,340,430

Down $256,947 (-2.0%) from 2014

Liabilities

Up

$5,000

Up $5,000 from 2014

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin80th percentile

Revenue

Up

$308,148

Up $106,025 (+52%) from 2014

Expenses

Up

$240,332

Up $2,731 (+1.1%) from 2014

Net Income

Up

$67,816

Up $103,294 (+291%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$15M$10M$5.0M$0Assets 2010: $12,091,168Liabilities 2010: $0Net Assets 2010: $12,091,1682010Assets 2011: $12,370,444Liabilities 2011: $0Net Assets 2011: $12,370,4442011Assets 2012: $12,344,397Liabilities 2012: $0Net Assets 2012: $12,344,3972012Assets 2013: $12,284,683Liabilities 2013: $0Net Assets 2013: $12,284,6832013Assets 2014: $12,597,377Liabilities 2014: $0Net Assets 2014: $12,597,3772014Assets 2015: $12,345,430Liabilities 2015: $5,000Net Assets 2015: $12,340,4302015Assets 2016: $12,163,100Liabilities 2016: $0Net Assets 2016: $12,163,1002016Assets 2017: $12,599,126Liabilities 2017: $0Net Assets 2017: $12,599,1262017Assets 2018: $12,188,858Liabilities 2018: $0Net Assets 2018: $12,188,8582018Assets 2019: $13,422,579Liabilities 2019: $0Net Assets 2019: $13,422,5792019Assets 2020: $13,836,757Liabilities 2020: $0Net Assets 2020: $13,836,7572020Assets 2021: $14,507,786Liabilities 2021: $0Net Assets 2021: $14,507,7862021Assets 2022: $13,321,336Liabilities 2022: $0Net Assets 2022: $13,321,3362022Assets 2023: $13,971,128Liabilities 2023: $0Net Assets 2023: $13,971,1282023Assets 2024: $14,612,949Liabilities 2024: $0Net Assets 2024: $14,612,9492024

Highlighted filing

2015

Assets$12,345,430
Liabilities$5,000
Net Assets$12,340,430
Open 2015 Filing

Operations Trend

Revenue Growth91st percentile

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

$1.0M$500K$0-$500KExpenses 2010: $216,0772010Expenses 2011: $201,4572011Expenses 2012: $276,4382012Revenue 2013: $227,666Expenses 2013: $216,860Net Income 2013: $10,8062013Revenue 2014: $202,123Expenses 2014: $237,601Net Income 2014: -$35,4782014Revenue 2015: $308,148Expenses 2015: $240,332Net Income 2015: $67,8162015Revenue 2016: -$143,829Expenses 2016: $244,233Net Income 2016: -$388,0622016Revenue 2017: $422,245Expenses 2017: $215,397Net Income 2017: $206,8482017Revenue 2018: $265,912Expenses 2018: $204,245Net Income 2018: $61,6672018Revenue 2019: $418,653Expenses 2019: $211,326Net Income 2019: $207,3272019Revenue 2020: $195,589Expenses 2020: $223,841Net Income 2020: -$28,2522020Revenue 2021: $631,489Expenses 2021: $241,571Net Income 2021: $389,9182021Revenue 2022: $328,855Expenses 2022: $245,620Net Income 2022: $83,2352022Revenue 2023: $422,517Expenses 2023: $260,295Net Income 2023: $162,2222023Revenue 2024: $394,092Expenses 2024: $262,981Net Income 2024: $131,1112024

Highlighted filing

2015

Revenue$308,148
Expenses$240,332
Net Income$67,816
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 11, 2016
Return Version
2015v2.1
Gross Receipts
$1,829,449
Mission and Program Overview

Mission

Aid to individuals and organizations in the vicinity where the trust is maintained.

AID TO THOSE IN NEED

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,357,200$7,357,200→ $0
Investments in Publicly Traded Securities$5,073,633$4,752,688▼ $320,945
Savings and Temporary Cash Investments$166,544$235,542▲ $68,998
Total Assets$12,597,377$12,345,430▼ $251,947
Liabilities
Other Liabilities$0$5,000▲ $5,000
Total Liabilities$0$5,000▲ $5,000
Net Assets / Fund Balance
Unrestricted Net Assets$12,597,377$12,340,430▼ $256,947
Total Net Assets Fund Balance$12,597,377$12,340,430▼ $256,947
Total Liabilities and Net Assets / Fund Balance$12,597,377$12,345,430▼ $251,947

Asset Categories

AssetBook ValueDepreciationBasis
Land$7,357,200-$7,357,200
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Thomas a HazelwoodSecretary-treasurerPT$18,000$18,000
C Robert Johnson IiiChairman-$1,500$1,500
Charles H Rose JrTrustee-$1,500$1,500
G Wayne RhoadsTrustee-$1,500$1,500
A Scott OvertonTrustee-$750$750
Wayne K Sawyer Until May 2015Vice Chairman-$500$500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$275,242
Other Revenue
$32,906
Change in Net Assets
$67,816
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$156,000
Other Expenses$60,582
Salaries, Compensation, and Employee Benefits$23,750
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$156,000--$156,000
Fees for Service Investment Mgmnt Fees-$32,969-$32,969
Current Officers, Directors, Trustees, and Key Employees$11,875$11,875-$23,750
Fees for Services Accounting-$17,333-$17,333
Insurance-$3,169-$3,169
Other Expenses$450--$450
Office Expenses-$433-$433
Total Functional Expenses$174,553$65,779$0$240,332
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Access FoundationNorfolk, VA501(c)(3)To Provide Scholarships to Deserving Students in the Area.$35,000
Chuckatuck Volunteer Fire DepartmentSuffolk, VA501(c)(3)To Aid Operations.$15,000
Salvation ArmySuffolk, VA501(c)(3)To Aid Operations.$15,000
American Red Cross of Southeastern VaSuffolk, VA501(c)(3)To Aid Operations.$6,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposits$5,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
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 2

“C. Robert johnson iii and thomas hazelwood, both directors of the organization, lease property together. No lease agreement has any effect on richard bennett trust.”

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

“Courts must approve all trustees.”

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

“All major decisions of the governing body are subject to approval of the suffolk circuit court 5th judical circuit of virginia.”

Form 990, Part VI, Section A, Line 8B

“The organization has no committees.”

Form 990, Part VI, Section B, Line 11

“All trustees review form 990 and attachments before filing.”

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

“Annually each officer, director, or trustee signs a statement affirming the following: that they have read and understand the policy, agree to comply with the policy.”

Form 990, Part VI, Section B, Line 15

“All compensation arrangements must be approved by the suffolk circuit court 5th judical circuit of virginia.”

Form 990, Part VI, Section C, Line 19

“Governing documents are furnished upon request. Annual report is on file with the court office.”

Filing and Contact Details

Filer

Filer Name
Richard Bennett Trust
EIN
54-6068391
Phone
7572383242
Address
9356 ECLIPSE DR, SUFFOLK, VA 23433

Signing Officer

Name
Thomas Hazelwood
Title
Secretary/treasurer
Phone
7572383242
Signed
2016-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Thomas Hazelwood
Formed
1676
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Pbmares Llp
Address
150 BOUSH STREET SUITE 400, NORFOLK, VA 23510
Preparer
Jennifer N French
Phone
7576274644
Supplemental Narrative

Additional Explanations

Form 990 Part XII, Line 1

“The organization uses the modified cash basis of accounting.”

Raw XML Appendix363 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.

Path#Value
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IRS990/BooksInCareOfDetail/PhoneNum07575144262
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2TO AID OPERATIONS.
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3TO AID OPERATIONS.
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd223434
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd323430
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF TRUSTEES REQUIRES PROSPECTIVE GRANT RECIPIENTS TO SUBMIT COPIES OF CURRENT FINANCIAL STATEMENTS AND PROPOSED BUDGETS. THE TRUSTEES ASSESS THE NEEDS OF THE PROSPECTIVE RECIPIENTS AND AWARD GRANTS BASED UPON THE ABOVE CRITERIA.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0C. ROBERT JOHNSON III AND THOMAS HAZELWOOD, BOTH DIRECTORS OF THE ORGANIZATION, LEASE PROPERTY TOGETHER. NO LEASE AGREEMENT HAS ANY EFFECT ON RICHARD BENNETT TRUST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COURTS MUST APPROVE ALL TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL MAJOR DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL OF THE SUFFOLK CIRCUIT COURT 5TH JUDICAL CIRCUIT OF VIRGINIA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS NO COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL TRUSTEES REVIEW FORM 990 AND ATTACHMENTS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ANNUALLY EACH OFFICER, DIRECTOR, OR TRUSTEE SIGNS A STATEMENT AFFIRMING THE FOLLOWING: THAT THEY HAVE READ AND UNDERSTAND THE POLICY, AGREE TO COMPLY WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL COMPENSATION ARRANGEMENTS MUST BE APPROVED BY THE SUFFOLK CIRCUIT COURT 5TH JUDICAL CIRCUIT OF VIRGINIA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS ARE FURNISHED UPON REQUEST. ANNUAL REPORT IS ON FILE WITH THE COURT OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE ORGANIZATION USES THE MODIFIED CASH BASIS OF ACCOUNTING.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
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 A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990 PART XII, LINE 1
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt012597377
IRS990/TotalAssetsEOYAmt012345430
IRS990/TotalAssetsGrp/BOYAmt012597377
IRS990/TotalAssetsGrp/EOYAmt012345430
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt065779
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0174553
IRS990/TotalFunctionalExpensesGrp/TotalAmt0240332
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt05000
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt05000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt012597377
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt012340430
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0174553
IRS990/TotalReportableCompFromOrgAmt023750
IRS990/TotalRevenueGrp/ExclusionAmt0308148
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0308148
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt012597377
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012345430
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt012597377
IRS990/UnrestrictedNetAssetsGrp/EOYAmt012340430
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt09356 ECLIPSE DR
IRS990/USAddress/CityNm0SUFFOLK
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023433
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0THOMAS HAZELWOOD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum07572383242
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RICHARD BENNETT TRUST
ReturnHeader/Filer/BusinessNameControlTxt0RICH
ReturnHeader/Filer/EIN0546068391
ReturnHeader/Filer/PhoneNum07572383242
ReturnHeader/Filer/USAddress/AddressLine1Txt09356 ECLIPSE DR
ReturnHeader/Filer/USAddress/CityNm0SUFFOLK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023433
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0540737372
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PBMARES LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0150 BOUSH STREET SUITE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORFOLK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023510
ReturnHeader/PreparerPersonGrp/PhoneNum07576274644
ReturnHeader/PreparerPersonGrp/PreparationDt02016-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JENNIFER N FRENCH
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02016-05-12T06:33:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,345,430
Liabilities
$5,000
Net assets
$12,340,430
Revenue
$308,148
Expenses
$240,332
Net income
$67,816
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.6$0.00$14.6$0.39$0.26$0.13
2023Detailed filing. Detailed filing data is available for this year.$14.0$0.00$14.0$0.42$0.26$0.16
2022Detailed filing. Detailed filing data is available for this year.$13.3$0.00$13.3$0.33$0.25$0.08
2021Detailed filing. Detailed filing data is available for this year.$14.5$0.00$14.5$0.63$0.24$0.39
2020Detailed filing. Detailed filing data is available for this year.$13.8$0.00$13.8$0.20$0.22$0.03
2019Detailed filing. Detailed filing data is available for this year.$13.4$0.00$13.4$0.42$0.21$0.21
2018Detailed filing. Detailed filing data is available for this year.$12.2$0.00$12.2$0.27$0.20$0.06
2017Detailed filing. Detailed filing data is available for this year.$12.6$0.00$12.6$0.42$0.22$0.21
2016Detailed filing. Detailed filing data is available for this year.$12.2$0.00$12.2$0.14$0.24$0.39
2015Detailed filing. Detailed filing data is available for this year.$12.3$0.01$12.3$0.31$0.24$0.07
2014Detailed filing. Detailed filing data is available for this year.$12.6$0.00$12.6$0.20$0.24$0.04
2013Detailed filing. Detailed filing data is available for this year.$12.3$0.00$12.3$0.23$0.22$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.3$0.00$12.3$0.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.4$0.00$12.4$0.20
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.1$0.00$12.1$0.22