Civic Intelligence

Hampton Roads Executive Roundtable

990 • Fiscal year 2021 • EIN 81-0938538

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

101 W Main Street 1000Norfolk, VA 23510

(757) 961-8181

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.08x

Higher debt load relative to assets than 63% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

53rd percentile

0.04x

Higher debt load relative to revenue than 53% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

34th percentile

3.0%

Higher net margin than 34% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

97th percentile

$231,855

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 31.4% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

35th percentile

2.4%

Faster asset growth than 35% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

23rd percentile

-11%

Faster revenue growth than 23% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$337,298

Up $7,945 (+2.4%) from 2020

Net Assets

Up

$310,215

Up $21,904 (+7.6%) from 2020

Liabilities

Down

$27,083

Down $13,959 (-34%) from 2020

Revenue

Down

$739,142

Down $88,153 (-11%) from 2020

Expenses

Down

$717,238

Down $161,501 (-18%) from 2020

Net Income

Up

$21,904

Up $73,348 (+143%) from 2020

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2016: $268,986Liabilities 2016: $9,182Net Assets 2016: $259,8042016Assets 2017: $719,353Liabilities 2017: $294,970Net Assets 2017: $424,3832017Assets 2018: $408,841Liabilities 2018: $96,976Net Assets 2018: $311,8652018Assets 2019: $410,276Liabilities 2019: $70,521Net Assets 2019: $339,7552019Assets 2020: $329,353Liabilities 2020: $41,042Net Assets 2020: $288,3112020Assets 2021: $337,298Liabilities 2021: $27,083Net Assets 2021: $310,2152021Assets 2022: $406,602Liabilities 2022: $20,624Net Assets 2022: $385,9782022Assets 2023: $1,720,913Liabilities 2023: $652,187Net Assets 2023: $1,068,7262023Assets 2024: $1,023,008Liabilities 2024: $14,209Net Assets 2024: $1,008,7992024

Highlighted filing

2021

Assets$337,298
Liabilities$27,083
Net Assets$310,215

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2016: $606,045Expenses 2016: $346,241Net Income 2016: $259,8042016Revenue 2017: $1,357,810Expenses 2017: $1,193,231Net Income 2017: $164,5792017Revenue 2018: $700,486Expenses 2018: $813,004Net Income 2018: -$112,5182018Revenue 2019: $820,540Expenses 2019: $792,650Net Income 2019: $27,8902019Revenue 2020: $827,295Expenses 2020: $878,739Net Income 2020: -$51,4442020Revenue 2021: $739,142Expenses 2021: $717,238Net Income 2021: $21,9042021Revenue 2022: $822,550Expenses 2022: $746,787Net Income 2022: $75,7632022Revenue 2023: $1,535,070Expenses 2023: $852,322Net Income 2023: $682,7482023Revenue 2024: $904,112Expenses 2024: $964,039Net Income 2024: -$59,9272024

Highlighted filing

2021

Revenue$739,142
Expenses$717,238
Net Income$21,904
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$739,142
Mission and Program Overview

Mission

A community leadership initiative focused on generating high-paying, satisfying jobs to underpin a vibrant economy by encouraging collaboration among the region's municipalities, educational institutions, and businesses.

A community leadership initiative focused on generating high-paying, satisfying jobs to underpin a vibrant economy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$255,457$219,489▼ $35,968
Pledges and Grants Receivable$57,376$105,805▲ $48,429
Accounts Receivable$1,532$7,226▲ $5,694
Land, Buildings, and Equipment, Net$14,988$4,778▼ $10,210
Total Assets$329,353$337,298▲ $7,945
Liabilities
Accounts Payable and Accrued Expenses$41,042$27,083▼ $13,959
Total Liabilities$41,042$27,083▼ $13,959
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$288,311$310,215▲ $21,904
Total Net Assets Fund Balance$288,311$310,215▲ $21,904
Total Liabilities and Net Assets / Fund Balance$329,353$337,298▲ $7,945

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,778$18,361$23,139
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James K SporePresident & CEOFT$231,855-$231,855
Donnna S MorrisExecutive Vice PresidentFT$126,271$16,500$142,771

Board Members and Trustees

NameTitle
John O WynneChairman
G Robert Aston JrVice Chairman
Alan WittDirector
Bob SasserDirector
Deborah M DicroceDirector
Doug SmithDirector
Gilbert BlandDirector
Glenn CarringtonDirector
Harry LesterDirector
Howard H Hoege IiiDirector
Howard KernDirector
Jennifer R BoykinDirector
Jim KiblerDirector
John LawsonDirector
Kevin MurphyDirector
Miles LeonDirector
Monique AdamsDirector
Robert CrumDirector
Rony ThomasDirector
Stephen EdwardsDirector
Susan H KellyDirector
Thomas FrantzDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Clark Hill PlcConsulting1001 PENNSYLVANIA AVE NW, Washington, DC 20004$110,000
Revenue and Support

Revenue Composition

Contributions and Grants
$739,106
Program Service Revenue
$0
Investment Income
$36
Other Revenue
$0
All Other Contributions
$472,058
Change in Net Assets
$21,904

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$12,408Fair Market Value (FMV)
Total Noncash Contributions1$12,408-

Audited Revenue Reconciliation

Revenue per Audited Statements
$739,142
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$739,142
Total Revenue per Form 990
$739,142
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$458,113
Other Expenses$259,125
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$229,917$128,209-$358,126
Other Employee Benefits$24,358$13,702-$38,060
Other Salaries and Wages$22,649$13,173-$35,822
Payroll Taxes$16,707$9,398-$26,105
Office Expenses$12,060$12,061-$24,121
Fees for Services Accounting-$17,350-$17,350
Information Technology$5,104$5,105-$10,209
Other Expenses$3,707$3,707-$7,414
Insurance$2,182$2,183-$4,365
Conferences and Meetings$1,594$1,595-$3,189
Depreciation Depletion$1,218$1,219-$2,437
Travel$861$862-$1,723
Fees for Services Legal-$42-$42
Total Functional Expenses$498,618$218,620$0$717,238

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$717,238
Total Expenses per Audited Statements$717,238
Total Expenses per Form 990$717,238
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
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, Section B, Line 11B

N/A

Form 990, Part VI, Section C, Line 19

Documents are provided upon request.

Filing and Contact Details

Filer

Filer Name
Reinvent Hampton Roads
EIN
81-0938538
Phone
7579618181
Address
101 W MAIN STREET 1000, NORFOLK, VA 23510

Signing Officer

Name
Nancy Grden
Title
President
Phone
7579618181
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy Grden
Formed
2015
Legal Domicile
Va
Voting Board Members
19
Independent Board Members
19
Employees
3
Volunteers
45

Preparer

Firm
Cavanaugh Nelson Plc
Address
999 WATERSIDE DRIVE SUITE 2250, NORFOLK, VA 23510
Preparer
Mark a Nelson
Phone
7575784900
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Reinvent hampton roads received a ruling from the internal revenue service that it is exempt from federal income tax under section 501(c)(3) of the internal revenue code, and that based on its activities it is considered a public charity. Accordingly, no provision for income or excise taxes has been reflected in the accompanying financial statements. Reinvent hampton roads tax returns will be subject to examination by authorities for a period of three years from the date the returns are filed.

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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIRMAN
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/TitleTxt12DIRECTOR
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/TitleTxt23EXECUTIVE VICE PRESIDENT
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IRS990/MissionDesc0A COMMUNITY LEADERSHIP INITIATIVE FOCUSED ON GENERATING HIGH-PAYING, SATISFYING JOBS TO UNDERPIN A VIBRANT ECONOMY BY ENCOURAGING COLLABORATION AMONG THE REGION'S MUNICIPALITIES, EDUCATIONAL INSTITUTIONS, AND BUSINESSES.
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IRS990/ProgSrvcAccomActy2Grp/Desc0A PATHWAY FOR MARITIME INNOVATION IN HAMPTON ROADS: IN NOVEMBER 2021, RHR CONTRACTED WITH TECONOMY PARTNERS LLC TO PERFORM A HIGH-LEVEL SITUATIONAL SCAN OF HAMPTON ROADS' MARITIME INNOVATION OPPORTUNITIES THAT INCLUDED TECHNOLOGIES SUCH AS AUTONOMOUS SYSTEMS; DIGITAL TRANSFORMATION; CYBERSECURITY; AND ADVANCED MANUFACTURING. TWO REGIONAL FUNDING PARTNERS (OLD DOMINION UNIVERSITY AND RHR) PROVIDED ADMINISTRATIVE SUPPORT FOR THE PROJECT.
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IRS990/ProgSrvcAccomActy3Grp/Desc0VIRGINIA INITIATIVE FOR GROWTH AND OPPORTUNITY: RHR SERVES AS THE SUPPORT ORGANIZATION FOR GO VA REGION 5. THE TIME COMMITTED TO FULFILL THAT ROLE INCLUDES PROCESSING AND MANAGING GRANTS AND PROVIDING STAFF SUPPORT TO THE REGIONAL COUNCIL. ONLY A PORTION OF THE COSTS INCURRED FOR STAFFING AND GRANT MANAGEMENT SUPPORT ARE RECOVERED THROUGH REMITTANCES ISSUED TO THE COMMONWEALTH OF VIRGINIA.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0REGIONAL SITE INVENTORY: A COLLABORATIVE INITIATIVE WAS FORMED BETWEEN THE HAMPTON ROADS PLANNING DISTRICT COMMISSION, THE HAMPTON ROADS ECONOMIC DEVELOPMENT ALLIANCE, AND REINVENT HAMPTON ROADS. A SITE INVENTORY WAS COMPLETED IN COOPERATION WITH THE LOCAL ECONOMIC DEVELOPMENT AGENCIES TO IDENTIFY SITES CONTAINING 100+ ACRES WITH ZONING THAT WOULD ALLOW INDUSTRIAL/COMMERCIAL DEVELOPMENT. THIS COLLABORATIVE APPROACH HAS THE POTENTIAL TO GREATLY ENCOURAGE LOCALITIES TO PARTNER RATHER THAN COMPETE FOR REGIONAL ECONOMIC DEVELOPMENT.
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