Civic Intelligence

Jefferson Center Foundation Ltd.

990 • Fiscal year 2015 • EIN 62-1392982

Jul 01, 2014 to Jun 30, 2015 • Filed on Nov 09, 2015

541 Luck Ave SWRoanoke, VA 24016

(540) 343-2624

Siviq Scores

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

Liabilities / Assets

12th percentile

0.01x

Higher debt load relative to assets than 12% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

26th percentile

0.13x

Higher debt load relative to revenue than 26% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

77th percentile

19%

Higher net margin than 77% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

10th percentile

$87,100

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

54th percentile

2.4%

Faster asset growth than 54% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

86th percentile

33%

Faster revenue growth than 86% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Assets

Up

$26,592,993

Up $615,169 (+2.4%) from 2014

Net Assets

Up

$26,196,406

Up $581,715 (+2.3%) from 2014

Liabilities

Up

$396,587

Up $33,454 (+9.2%) from 2014

Revenue

Up

$3,105,931

Up $775,480 (+33%) from 2014

Expenses

Up

$2,521,964

Up $72,079 (+2.9%) from 2014

Net Income

Up

$583,967

Up $703,401 (+589%) from 2014

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $26,727,850Liabilities 2011: $249,474Net Assets 2011: $26,478,3762011Assets 2012: $26,433,323Liabilities 2012: $219,533Net Assets 2012: $26,213,7902012Assets 2013: $25,984,757Liabilities 2013: $307,607Net Assets 2013: $25,677,1502013Assets 2014: $25,977,824Liabilities 2014: $363,133Net Assets 2014: $25,614,6912014Assets 2015: $26,592,993Liabilities 2015: $396,587Net Assets 2015: $26,196,4062015Assets 2016: $27,039,576Liabilities 2016: $341,699Net Assets 2016: $26,697,8772016Assets 2017: $26,774,627Liabilities 2017: $327,039Net Assets 2017: $26,447,5882017Assets 2018: $26,134,815Liabilities 2018: $418,355Net Assets 2018: $25,716,4602018Assets 2019: $25,309,433Liabilities 2019: $303,358Net Assets 2019: $25,006,0752019Assets 2020: $24,831,314Liabilities 2020: $397,769Net Assets 2020: $24,433,5452020Assets 2021: $24,446,324Liabilities 2021: $422,895Net Assets 2021: $24,023,4292021Assets 2022: $24,079,593Liabilities 2022: $442,487Net Assets 2022: $23,637,1062022Assets 2023: $23,341,672Liabilities 2023: $237,458Net Assets 2023: $23,104,2142023Assets 2024: $23,342,699Liabilities 2024: $259,080Net Assets 2024: $23,083,6192024Assets 2025: $22,695,493Liabilities 2025: $235,445Net Assets 2025: $22,460,0482025

Highlighted filing

2015

Assets$26,592,993
Liabilities$396,587
Net Assets$26,196,406

Operations Trend

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $1,963,8462011Expenses 2012: $2,105,8932012Revenue 2013: $1,756,923Expenses 2013: $2,315,601Net Income 2013: -$558,6782013Revenue 2014: $2,330,451Expenses 2014: $2,449,885Net Income 2014: -$119,4342014Revenue 2015: $3,105,931Expenses 2015: $2,521,964Net Income 2015: $583,9672015Revenue 2016: $3,328,890Expenses 2016: $2,809,928Net Income 2016: $518,9622016Revenue 2017: $2,175,754Expenses 2017: $2,477,304Net Income 2017: -$301,5502017Revenue 2018: $1,899,222Expenses 2018: $2,466,726Net Income 2018: -$567,5042018Revenue 2019: $1,629,702Expenses 2019: $2,342,854Net Income 2019: -$713,1522019Revenue 2020: $1,621,625Expenses 2020: $2,337,182Net Income 2020: -$715,5572020Revenue 2021: $1,123,866Expenses 2021: $1,713,657Net Income 2021: -$589,7912021Revenue 2022: $2,456,793Expenses 2022: $2,567,584Net Income 2022: -$110,7912022Revenue 2023: $2,366,491Expenses 2023: $2,994,606Net Income 2023: -$628,1152023Revenue 2024: $2,962,046Expenses 2024: $3,177,074Net Income 2024: -$215,0282024Revenue 2025: $2,292,349Expenses 2025: $3,113,450Net Income 2025: -$821,1012025

Highlighted filing

2015

Revenue$3,105,931
Expenses$2,521,964
Net Income$583,967
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Nov 9, 2015
Return Version
2014v5.0
Gross Receipts
$3,126,035
Mission and Program Overview

Mission

Provide broad access to inspirational performing arts experiences, transformational arts education opportunities, and vibrant community space.

The foundation was organized to manage the renovation and subsequent rental and maintenance of the jefferson high school. The property belongs to the city of roanoke and the foundation's exempt purpose is to raise public funding for renovation of the building such that it can be used to provide affordable office space for other non-profit/city agencies serving the public, as well as becoming a cultural center for the arts and a community center for other organizations to meet.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,263,342$9,952,663▼ $310,679
Pledges and Grants Receivable$357,009$808,464▲ $451,455
Cash and Non-Interest-Bearing Accounts$204,212$600,905▲ $396,693
Investments in Publicly Traded Securities$525,223$532,075▲ $6,852
Accounts Receivable$44,337$91,810▲ $47,473
Savings and Temporary Cash Investments$2,577$11,170▲ $8,593
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$25,977,824$26,592,993▲ $615,169
Other Assets Total$14,581,124$14,595,906▲ $14,782
Liabilities
Mortgage Notes Payable Secured by Investment Property$150,000$150,000→ $0
Accounts Payable and Accrued Expenses$76,052$99,958▲ $23,906
Deferred Revenue$65,610$91,371▲ $25,761
Other Liabilities$71,471$55,258▼ $16,213
Total Liabilities$363,133$396,587▲ $33,454
Net Assets / Fund Balance
Temporarily Rstr Net Assets$15,013,777$15,856,550▲ $842,773
Unrestricted Net Assets$9,950,914$9,689,856▼ $261,058
Permanently Rstr Net Assets$650,000$650,000→ $0
Total Net Assets Fund Balance$25,614,691$26,196,406▲ $581,715
Total Liabilities and Net Assets / Fund Balance$25,977,824$26,592,993▲ $615,169

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,696,498$5,669,112$15,365,610
Equipment$249,224$770,828$1,020,052
Leasehold Improvements$6,941$9,076$16,017
Other Assets Org$31,806--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$525,223$29,683▲ $5,133$27,964$532,075
2013$443,689$41,143▲ $64,926$24,535$525,223
2012$425,959$22,174▲ $39,107$43,551$443,689
2011$221,400$195,721▲ $10,838$2,000$425,959
2010$220,665-▲ $735-$221,400
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Cyrus E PaceExecutive DirecFT$87,100$87,100

Board Members and Trustees

NameTitle
David I TenzerChairman
Susan P FrantzVice Chair
Anne JenkinsBoard Member
Bryant F CassBoard Member
Carl MillerBoard Member
Laurie HartBoard Member
Lesleigh StraussBoard Member
Mark S LawrenceBoard Member
Paul BonelliBoard Member
Richard PettitBoard Member
Sandra TeitloffBoard Member
Thomas T PalmerBoard Member
William E AmosBoard Member
Edwin HallBm - Emeritus
Heidi KrischBm - Emeritus
Helen FitzpatrickBm - Emeritus
Tyler PughBm - Emeritus
Warner DalhouseBm - Emeritus
Bruce HoughtonSecretary
Charles a WebbTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,808,520
Program Service Revenue
$1,252,397
Investment Income
$5,234
Other Revenue
$39,780
All Other Contributions
$1,589,020
Change in Net Assets
$583,967

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,126,035
Revenue Not Reported on Financial Statements
$-20,104
Revenue Not Reported on Form 990
$1,675,301
Other Revenue Adjustments
$-20,104
Total Revenue per Audited Statements
$4,801,336
Total Revenue per Form 990
$3,105,931
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,706,397
Salaries, Compensation, and Employee Benefits$815,567
Total Fundraising Expense$246,866
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$434,400$134,508$89,424$658,332
Depreciation Depletion$525,682$16,428$5,476$547,586
All Other Expenses$88,360$68,637$42,138$199,135
Current Officers, Directors, Trustees, and Key Employees$34,840$34,840$17,420$87,100
Fees for Services Other$38,363$13,818$29,561$81,742
Other Expenses$55,395$5,712$1,112$62,219
Payroll Taxes$47,137$5,263$8,484$60,884
Advertising$49,290$332$3,279$52,901
Insurance$27,440$4,185$4,185$35,810
Office Expenses$8,080$6,774$802$15,656
Other Employee Benefits$4,625$2,313$2,313$9,251
Interest-$2,812-$2,812
Total Functional Expenses$1,971,809$303,289$246,866$2,521,964

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,219,621
Expenses per Audited Statements$2,521,964
Total Expenses per Form 990$2,521,964
Expenses Not Reported on Form 990$1,697,657
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$12,458
Fundraising Gross Income$4,275
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Payroll$28,380
Rent Collected in Advance$23,450
Payroll Withholdings Payable$3,428
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
No
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, Part VI, Line 11B: Form 990 Review Process

The finance committee reviews the Form 990 and reports the results to the full Board.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The organization conducts annual conflict of interest meetings, where all members can disclose their conflicts. A committe then reviews all the information for propriety.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

All documents are provided upon request

Filing and Contact Details

Filer

Filer Name
Jefferson Center Foundation Ltd
EIN
62-1392982
Phone
5403432624
Address
541 LUCK AVE SW, ROANOKE, VA 24016

Signing Officer

Name
Cyrus E Pace
Title
Executive Director
Signed
2015-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cyrus E Pace
Voting Board Members
20
Independent Board Members
20
Employees
77
Volunteers
175

Preparer

Firm
Foti Flynn Lowen & Co PC
Address
PO Box 12765, Roanoke, VA 24028-2765
Preparer
Frank B Hancock CPA
Phone
5403449246
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

The money needs to be held in perpetuity and the income from the funds will be used for maintenance of jefferson center.

Part XII, Line 2D: Other expenses and losses per audited F/S

Special events expenses shown at gross $12458 loss on disposal of fixed assets $7646

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IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt15BM - EMERITUS
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IRS990/OtherExpensesGrp/FundraisingAmt240659
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12917
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IRS990/OtherExpensesGrp/ProgramServicesAmt286908
IRS990/OtherExpensesGrp/ProgramServicesAmt355395
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IRS990/OtherExpensesGrp/TotalAmt1178670
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt089424
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IRS990/PartialLiquidationInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$22.7$0.24$22.5$2.29$3.11$0.82
2024Detailed filing. Detailed filing data is available for this year.$23.3$0.26$23.1$2.96$3.18$0.22
2023Detailed filing. Detailed filing data is available for this year.$23.3$0.24$23.1$2.37$2.99$0.63
2022Detailed filing. Detailed filing data is available for this year.$24.1$0.44$23.6$2.46$2.57$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.4$0.42$24.0$1.12$1.71$0.59
2020Detailed filing. Detailed filing data is available for this year.$24.8$0.40$24.4$1.62$2.34$0.72
2019Detailed filing. Detailed filing data is available for this year.$25.3$0.30$25.0$1.63$2.34$0.71
2018Detailed filing. Detailed filing data is available for this year.$26.1$0.42$25.7$1.90$2.47$0.57
2017Detailed filing. Detailed filing data is available for this year.$26.8$0.33$26.4$2.18$2.48$0.30
2016Detailed filing. Detailed filing data is available for this year.$27.0$0.34$26.7$3.33$2.81$0.52
2015Detailed filing. Detailed filing data is available for this year.$26.6$0.40$26.2$3.11$2.52$0.58
2014Detailed filing. Detailed filing data is available for this year.$26.0$0.36$25.6$2.33$2.45$0.12
2013Summary only. Only limited summary data is available for this year.$26.0$0.31$25.7$1.76$2.32$0.56
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.4$0.22$26.2$2.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.7$0.25$26.5$1.96