Civic Intelligence

Partnership Development Foundation Inc.

990 • Fiscal year 2024 • EIN 75-3193664

Jan 01, 2024 to Dec 31, 2024 • Filed on Mar 05, 2025

Organization ProfileN/A
739 High StreetPortsmouth, VA 23704

(757) 397-8473

Siviq Scores

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

Liabilities / Assets

74th percentile

0.29x

Higher debt load relative to assets than 74% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

89th percentile

1.03x

Higher debt load relative to revenue than 89% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

82nd percentile

33%

Higher net margin than 82% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

14th percentile

-11%

Faster asset growth than 14% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

85th percentile

58%

Faster revenue growth than 85% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets74th percentile

Assets

Down

$1,536,692

Down $183,424 (-11%) from 2023

Net Assets

Up

$1,098,451

Up $141,663 (+15%) from 2023

Liabilities

Down

$438,241

Down $325,087 (-43%) from 2023

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin82nd percentile

Revenue

Up

$426,608

Up $156,334 (+58%) from 2023

Expenses

Up

$284,945

Up $133,152 (+88%) from 2023

Net Income

Up

$141,663

Up $23,182 (+20%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth14th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2010: $544,688Liabilities 2010: $478,892Net Assets 2010: $65,7962010Assets 2011: $587,936Liabilities 2011: $478,892Net Assets 2011: $109,0442011Assets 2012: $588,925Liabilities 2012: $479,892Net Assets 2012: $109,0332012Assets 2013: $601,562Liabilities 2013: $492,892Net Assets 2013: $108,6702013Assets 2014: $684,598Liabilities 2014: $575,892Net Assets 2014: $108,7062014Assets 2015: $698,973Liabilities 2015: $590,393Net Assets 2015: $108,5802015Assets 2016: $720,452Liabilities 2016: $611,145Net Assets 2016: $109,3072016Assets 2017: $726,141Liabilities 2017: $617,145Net Assets 2017: $108,9962017Assets 2018: $740,807Liabilities 2018: $482,726Net Assets 2018: $258,0812018Assets 2019: $5,999Liabilities 2019: $39,905Net Assets 2019: -$33,9062019Assets 2020: $202,121Liabilities 2020: $4,878Net Assets 2020: $197,2432020Assets 2021: $761,009Liabilities 2021: $207,178Net Assets 2021: $553,8312021Assets 2022: $1,258,807Liabilities 2022: $420,500Net Assets 2022: $838,3072022Assets 2023: $1,720,116Liabilities 2023: $763,328Net Assets 2023: $956,7882023Assets 2024: $1,536,692Liabilities 2024: $438,241Net Assets 2024: $1,098,4512024Assets 2025: $1,374,169Liabilities 2025: $406,562Net Assets 2025: $967,6072025

Highlighted filing

2024

Assets$1,536,692
Liabilities$438,241
Net Assets$1,098,451
Open 2024 Filing

Operations Trend

Revenue Growth85th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $2252010Expenses 2011: $1252011Expenses 2012: $1422012Revenue 2013: $112Expenses 2013: $475Net Income 2013: -$3632013Revenue 2014: $162Expenses 2014: $126Net Income 2014: $362014Revenue 2015: $0Expenses 2015: $126Net Income 2015: -$1262015Revenue 2016: $1,652Expenses 2016: $925Net Income 2016: $7272016Revenue 2017: $1Expenses 2017: $312Net Income 2017: -$3112017Revenue 2018: $41Expenses 2018: $125Net Income 2018: -$842018Revenue 2019: -$282,947Expenses 2019: $9,040Net Income 2019: -$291,9872019Revenue 2020: $199,964Expenses 2020: $14,641Net Income 2020: $185,3232020Revenue 2021: $502,133Expenses 2021: $145,545Net Income 2021: $356,5882021Revenue 2022: $518,132Expenses 2022: $233,658Net Income 2022: $284,4742022Revenue 2023: $270,274Expenses 2023: $151,793Net Income 2023: $118,4812023Revenue 2024: $426,608Expenses 2024: $284,945Net Income 2024: $141,6632024Revenue 2025: $214,507Expenses 2025: $345,351Net Income 2025: -$130,8442025

Highlighted filing

2024

Revenue$426,608
Expenses$284,945
Net Income$141,663
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 5, 2025
Return Version
2024v5.0
Gross Receipts
$426,608
Mission and Program Overview

Mission

To support the city of portsmouth by reclaiming under performing properties for a higher and better use for the economic growth of the entire city and by providing financial resources for other charitable and educational organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,096,741$984,077▼ $112,664
Cash and Non-Interest-Bearing Accounts$124,317$109,244▼ $15,073
Total Assets$1,720,116$1,536,692▼ $183,424
Other Assets Total$499,058$443,371▼ $55,687
Liabilities
Other Liabilities$763,328$438,241▼ $325,087
Total Liabilities$763,328$438,241▼ $325,087
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$956,788$1,098,451▲ $141,663
Total Net Assets Fund Balance$956,788$1,098,451▲ $141,663
Total Liabilities and Net Assets / Fund Balance$1,720,116$1,536,692▼ $183,424

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$690,227$180,320$870,547
Equipment$293,267$263,872$557,139
Other Land Buildings$583$4,417$5,000
Other Assets Org$5,130--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Camille CherryPresident
Cameron RobinettDirector
Chris SheltonDirector
Curtis LyonsDirector
Matthew TuttleDirector
Ross CherryDirector
Steve HeretickDirector
Michelle WrenExecutive Di
William H Hargrove IiiTreasurer/se
Max GreenhoodVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$426,043
Program Service Revenue
$0
Investment Income
$65
Other Revenue
$500
All Other Contributions
$426,043
Change in Net Assets
$141,663

Audited Revenue Reconciliation

Revenue per Audited Statements
$426,608
Revenue Not Reported on Form 990
$89,552
Total Revenue per Audited Statements
$516,160
Total Revenue per Form 990
$426,608
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$201,945
Grants and Similar Amounts Paid$83,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$139,757--$139,757
Grants to Domestic Individuals$83,000--$83,000
Fees for Services Accounting$1,500--$1,500
Other Expenses$300--$300
Total Functional Expenses$284,945$0$0$284,945

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$374,497
Expenses per Audited Statements$284,945
Total Expenses per Form 990$284,945
Expenses Not Reported on Form 990$89,552
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
Operating Lease Liability$438,241
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
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 the board signs 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

“Public inspection is available upon request.”

Filing and Contact Details

Filer

Filer Name
Partnership Development Foundation
EIN
75-3193664
Phone
7573978473
Address
739 HIGH STREET, PORTSMOUTH, VA 23704

Signing Officer

Name
Michelle Wren
Title
Executive Director
Phone
7573978473
Signed
2025-03-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michelle Wren
Formed
2005
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Barnes Brock Cornwell & Painter Plc
Address
908 EDEN WAY N STE 201, CHESAPEAKE, VA 23320-2640
Preparer
Kimberly C Painter CPA
Phone
7579615017
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To support the city of portsmouth by reclaiming under performing properties for a higher and better use for the economic growth of the entire city and by providing financial resources for other charitable and educational organizations.”

Form 990, Page 2, Part III, Line 4D

“To support economic growth in the city of portsmouth by providing financial support and human resources for specific projects and by promoting education within the city.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization 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 organization 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, 2024.”

Schedule D, Page 4, Part XIII

“The organization's federal return of organization exempt from income tax (form 990) for 2024, 2023, and 2022 are subject to examination by the irs, generally for three years after they were filed.”

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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/OtherAssetsOrgGrp/Desc0OPERATING LEASE RIGHT-OF-USE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION 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 ORGANIZATION 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, 2024.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S FEDERAL RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) FOR 2024, 2023, AND 2022 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XIII
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO SUPPORT THE CITY OF PORTSMOUTH BY RECLAIMING UNDER PERFORMING PROPERTIES FOR A HIGHER AND BETTER USE FOR THE ECONOMIC GROWTH OF THE ENTIRE CITY AND BY PROVIDING FINANCIAL RESOURCES FOR OTHER CHARITABLE AND EDUCATIONAL ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO SUPPORT ECONOMIC GROWTH IN THE CITY OF PORTSMOUTH BY PROVIDING FINANCIAL SUPPORT AND HUMAN RESOURCES FOR SPECIFIC PROJECTS AND BY PROMOTING EDUCATION WITHIN THE CITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING BODY RECEIVED A DRAFT OF THE TAX RETURN TO APPROVE BEFORE FINAL PROCESSING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY THE BOARD SIGNS CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANNUAL REVIEW AND APPROVAL BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ANNUAL REVIEW AND APPROVAL BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PUBLIC INSPECTION IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BARNES BROCK CORNWELL & PAINTER PLC
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Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,536,692
Liabilities
$438,241
Net assets
$1,098,451
Revenue
$426,608
Expenses
$284,945
Net income
$141,663
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.37$0.41$0.97$0.21$0.35$0.13
2024Detailed filing. Detailed filing data is available for this year.$1.54$0.44$1.10$0.43$0.28$0.14
2023Detailed filing. Detailed filing data is available for this year.$1.72$0.76$0.96$0.27$0.15$0.12
2022Detailed filing. Detailed filing data is available for this year.$1.26$0.42$0.84$0.52$0.23$0.28
2021Detailed filing. Detailed filing data is available for this year.$0.76$0.21$0.55$0.50$0.15$0.36
2020Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.20$0.01$0.19
2019Detailed filing. Detailed filing data is available for this year.$0.01$0.04$0.03$0.28$0.01$0.29
2018Detailed filing. Detailed filing data is available for this year.$0.74$0.48$0.26$0.00$0.00$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.73$0.62$0.11$0.00$0.00$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.72$0.61$0.11$0.00$0.00$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.70$0.59$0.11$0.00$0.00$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.68$0.58$0.11$0.00$0.00$0.00
2013Detailed filing. Detailed filing data is available for this year.$0.60$0.49$0.11$0.00$0.00$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.59$0.48$0.11$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.59$0.48$0.11$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.54$0.48$0.07$0.00