Liabilities / Assets
33rd percentile
Tied with the lowest-debt nonprofits in its peer group.
Virginia Growth and Opportunity
EIN 81-1586667 • 501(c)3 • Richmond, VA
Profile
Educate Virginians about the importance of collaboration in each region to promote economic development, disseminate information on best practices, and promote private sector economic development.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.00x
Liabilities / Revenue
35th percentile
Tied with the lowest-debt nonprofits in its peer group.
Net Margin
2nd percentile
Higher net margin than 2% of similar nonprofits.
Top Officer Pay
55th percentile
Higher top officer pay than 55% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
16th percentile
Faster asset growth than 16% of similar nonprofits.
Revenue Growth
1st percentile
Faster revenue growth than 1% of similar nonprofits.
Balance Sheet
Assets
Down$562,384
Down $108,496 (-16%) from 2023
Liabilities
Flat$0
Flat from 2023
Net Assets
Down$562,384
Down $108,496 (-16%) from 2023
Revenue
Down$41,504
Down $688,246 (-94%) from 2023
Expenses
Down$150,000
Down $38,609 (-20%) from 2023
Net Income
Down-$108,496
Down $649,637 (-120%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $562,384
- Liabilities
- $0
- Net assets
- $562,384
- Revenue
- $41,504
- Expenses
- $150,000
- Net income
- -$108,496
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2024 to Dec 31, 2024
- Signed
- Oct 13, 2025
- Return Version
- 2024v5.2
- Gross Receipts
- $41,504
Mission and Program Overview
Mission
Educate Virginians about the importance of collaboration in each region to promote economic development, disseminate information on best practices, and promote private sector economic development.
Educate Virginia about the importance of regional cooperation in economic development.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Savings and Temporary Cash Investments | $670,880 | $562,384 | ▼ $108,496 |
| Cap Stk Tr Prin Current Funds | $670,880 | $562,384 | ▼ $108,496 |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Rtn Earn Endowment Incm Other Fnds | $0 | $0 | → $0 |
| Total Assets | $670,880 | $562,384 | ▼ $108,496 |
| Liabilities | |||
| Total Liabilities | $0 | $0 | → $0 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $670,880 | $562,384 | ▼ $108,496 |
| Total Liabilities and Net Assets / Fund Balance | $670,880 | $562,384 | ▼ $108,496 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Todd Stottlemyer | Chairman |
| Barry Duval | Director |
| Ben Davenport Jr | Director |
| Dennis Matheis | Director |
| Faraaz Yousef | Director |
| Harry Byrd III | Director |
| Jennifer Boykin | Director |
| Jim Kelly | Director |
| John Luke Jr | Director |
| Kevin Murphy | Director |
| Nancy Agee | Director |
| S Robert Aston Jr | Director |
| William Fralin Jr | Director |
| William Goodwin Jr | Director |
| William Heywood Fralin | Secretary |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| McGuireWoods Consulting | See Schedule O | 800 East Canal Street, Richmond, VA 23219-3916 | $121,463 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $25,350
- Program Service Revenue
- $0
- Investment Income
- $16,154
- Other Revenue
- $0
- All Other Contributions
- $25,350
- Change in Net Assets
- $-108,496
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $150,000 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Other | $121,463 | - | - | $121,463 |
| Fees for Services Legal | - | $10,495 | - | $10,495 |
| Advertising | $7,924 | - | - | $7,924 |
| Conferences and Meetings | $3,320 | - | - | $3,320 |
| Insurance | - | $2,636 | - | $2,636 |
| Travel | $1,677 | - | - | $1,677 |
| Information Technology | $1,615 | - | - | $1,615 |
| Other Expenses | $400 | $470 | - | $870 |
| Total Functional Expenses | $136,399 | $13,601 | $0 | $150,000 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- Yes
- Subject to proxy tax
- No
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- 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
- No
- Key decisions subject to board approval
- No
- Management duties delegated
- Yes
Governance Explanations
Form 990, Part VI, Section A, line 2
“Two of the Foundation's directors, W. Heywood Fralin, Sr. and William Fralin, Jr. are father and son.”
Form 990, Part VI, Section A, line 3
“The organization hired McGuireWoods Consulting LLC for lobbying services as well as communications assistance.”
Form 990, Part VI, Section B, line 11B
“The Foundation provides a copy of the Form 990 to the Foundation's officers before it is filed.”
Form 990, Part VI, Section B, line 12C
“Board members are required to submit a form documenting any conflicts of interest that may exist. If there are changes to the Board outside of regular elections, any new members are required to submit their form when they begin serving on the Board.”
Form 990, Part VI, Section B, line 15
“The organization runs all compensation decisions through its full Board.”
Form 990, Part VI, Section C, line 19
“The organization's Form 990 can be found at www.guidestar.org or can be made available for review at the organization's office. The organization's governing documents, conflict of interest policy and finanical statements are available for review at the organization's office.”
Form 990, Part VII, Section B, Line 1, Column B
“McGuireWoods Consulting provided project management services, including consulting, stakeholder outreach, and interagency coordination, to the Foundation.”
Filing and Contact Details
Filer
- Filer Name
- Virginia Growth and Opportunity
- EIN
- 81-1586667
- Phone
- 8047751902
- Address
- 800 E Canal St Attn MWC-C Lloyd, Richmond, VA 23219
Signing Officer
- Name
- Todd Stottlemyer
- Title
- Chairman
- Phone
- 8047751902
- Signed
- 2025-10-13
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Todd Stottlemyer
- Formed
- 2015
- Legal Domicile
- Va
- Voting Board Members
- 15
- Independent Board Members
- 15
- Employees
- 0
- Volunteers
- 0
Preparer
- Firm
- McGuireWoods LLP
- Address
- P O Box 397, Richmond, VA 23218-0397
- Preparer
- Michele McKinnon
- Phone
- 8047751000
Supplemental Narrative
Additional Explanations
Form 990, Part IX, line 11G
“McGuireWoods Consulting, LLC: Program service expenses 121,463. Management and general expenses 0. Fundraising expenses 0. Total expenses 121,463.”
Form 990, Part IX, Line 11G
“The Virginia Growth and Opportunity Foundation engaged McGuireWoods Consulting LLC, a full-service public affairs firm, to assist in (1) educating Virginians on the importance of collaboration by and amoung business, educators, and government entities in each region of Virginia; (2) developing economic and workforce development research and best practices for disseminating that information to Virginia's regions; (3) promoting broad-based awareness and engagement of Virginia's citizens and leaders in efforts to promote private-sector economic growth, university-based research and development, and the expansion of high-paying jobs and opportunities throughout the Commonwealth of Virginia. Fees, in the amount of $121,463.13, were paid in 2024 to McGuireWoods Consulting, LLC for these services.”
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| IRS990/PoliticalCampaignActyInd | 0 | 0 |
| IRS990/PrincipalOfficerNm | 0 | Todd Stottlemyer |
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| IRS990/PYExcessBenefitTransInd | 0 | 0 |
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| IRS990/RegularMonitoringEnfrcInd | 0 | 1 |
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| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 7 |
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| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.46950 |
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| IRS990ScheduleC/GrassrootsCeilingAmt | 0 | 17409 |
| IRS990ScheduleC/LobbyingCeilingAmt | 0 | 99500 |
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| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | Two of the Foundation's directors, W. Heywood Fralin, Sr. and William Fralin, Jr. are father and son. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | The organization hired McGuireWoods Consulting LLC for lobbying services as well as communications assistance. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | The Foundation provides a copy of the Form 990 to the Foundation's officers before it is filed. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | Board members are required to submit a form documenting any conflicts of interest that may exist. If there are changes to the Board outside of regular elections, any new members are required to submit their form when they begin serving on the Board. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | The organization runs all compensation decisions through its full Board. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | The organization's Form 990 can be found at www.guidestar.org or can be made available for review at the organization's office. The organization's governing documents, conflict of interest policy and finanical statements are available for review at the organization's office. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | McGuireWoods Consulting provided project management services, including consulting, stakeholder outreach, and interagency coordination, to the Foundation. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | McGuireWoods Consulting, LLC: Program service expenses 121,463. Management and general expenses 0. Fundraising expenses 0. Total expenses 121,463. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | The Virginia Growth and Opportunity Foundation engaged McGuireWoods Consulting LLC, a full-service public affairs firm, to assist in (1) educating Virginians on the importance of collaboration by and amoung business, educators, and government entities in each region of Virginia; (2) developing economic and workforce development research and best practices for disseminating that information to Virginia's regions; (3) promoting broad-based awareness and engagement of Virginia's citizens and leaders in efforts to promote private-sector economic growth, university-based research and development, and the expansion of high-paying jobs and opportunities throughout the Commonwealth of Virginia. Fees, in the amount of $121,463.13, were paid in 2024 to McGuireWoods Consulting, LLC for these services. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Section A, line 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section A, line 3 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section B, line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section B, line 12c |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Section B, line 15 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Form 990, Part VI, Section C, line 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | Form 990, Part VII, Section B, Line 1, Column B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | Form 990, Part IX, line 11g |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | Form 990, Part IX, Line 11g |
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| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | VA |
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| IRS990/SubjectToProxyTaxInd | 0 | 0 |
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| IRS990/TravelGrp/TotalAmt | 0 | 1677 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | 0 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 800 E Canal St Attn MWC-C Lloyd |
| IRS990/USAddress/CityNm | 0 | Richmond |
| IRS990/USAddress/StateAbbreviationCd | 0 | VA |
| IRS990/USAddress/ZIPCd | 0 | 23219 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 15 |
| IRS990/VotingMembersIndependentCnt | 0 | 15 |
| IRS990/WebsiteAddressTxt | 0 | https://govirginia.org |
| IRS990/WhistleblowerPolicyInd | 0 | 1 |
| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | 1 |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Todd Stottlemyer |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | Chairman |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 8047751902 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2025-10-13 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | Virginia Growth and Opportunity |
| ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt | 0 | Foundation |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | VIRG |
| ReturnHeader/Filer/EIN | 0 | 811586667 |
| ReturnHeader/Filer/PhoneNum | 0 | 8047751902 |
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| ReturnHeader/Filer/USAddress/CityNm | 0 | Richmond |
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