Civic Intelligence

Central Business District Foundation

990 • Fiscal year 2017 • EIN 81-2509880

Jan 01, 2017 to Dec 31, 2017 • Filed on Jun 15, 2018

Organization ProfileWWW.CBDA.NET
One Columbus Center Suite 611Virginia Beach, VA 23462

(757) 490-7812

Siviq Scores

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

Liabilities / Assets

97th percentile

2.40x

Higher debt load relative to assets than 97% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

97th percentile

1.64x

Higher debt load relative to revenue than 97% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

3rd percentile

-193%

Higher net margin than 3% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

15th percentile

-30%

Faster asset growth than 15% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

32nd percentile

-11%

Faster revenue growth than 32% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$3,128

Down $1,364 (-30%) from 2016

Net Assets

Down

-$4,372

Down $8,864 (-197%) from 2016

Liabilities

Up

$7,500

Up $7,500 from 2016

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin3rd percentile

Revenue

Down

$4,582

Down $568 (-11%) from 2016

Expenses

Up

$13,446

Up $12,788 (+1943%) from 2016

Net Income

Down

-$8,864

Down $13,356 (-297%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$10K$5.0K$0-$5.0KAssets 2016: $4,492Liabilities 2016: $0Net Assets 2016: $4,4922016Assets 2017: $3,128Liabilities 2017: $7,500Net Assets 2017: -$4,3722017Assets 2018: $1,192Liabilities 2018: $0Net Assets 2018: $1,1922018Assets 2019: $6,603Liabilities 2019: $0Net Assets 2019: $6,6032019Assets 2020: $8,288Liabilities 2020: $0Net Assets 2020: $8,2882020Assets 2021: $3,214Liabilities 2021: $0Net Assets 2021: $3,2142021Assets 2022: $2,507Liabilities 2022: $0Net Assets 2022: $2,5072022Assets 2023: $2,819Liabilities 2023: $0Net Assets 2023: $2,8192023Assets 2024: $1,729Liabilities 2024: $3,000Net Assets 2024: -$1,2712024

Highlighted filing

2017

Assets$3,128
Liabilities$7,500
Net Assets-$4,372
Open 2017 Filing

Operations Trend

Revenue Growth32nd percentile

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

$20K$10K$0-$10KRevenue 2016: $5,150Expenses 2016: $658Net Income 2016: $4,4922016Revenue 2017: $4,582Expenses 2017: $13,446Net Income 2017: -$8,8642017Revenue 2018: $14,075Expenses 2018: $8,511Net Income 2018: $5,5642018Revenue 2019: $14,027Expenses 2019: $8,616Net Income 2019: $5,4112019Revenue 2020: $10,378Expenses 2020: $8,693Net Income 2020: $1,6852020Revenue 2021: $4,019Expenses 2021: $9,093Net Income 2021: -$5,0742021Revenue 2022: $8,141Expenses 2022: $8,848Net Income 2022: -$7072022Revenue 2023: $3,587Expenses 2023: $3,275Net Income 2023: $3122023Revenue 2024: $10,025Expenses 2024: $14,115Net Income 2024: -$4,0902024

Highlighted filing

2017

Revenue$4,582
Expenses$13,446
Net Income-$8,864
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 15, 2018
Return Version
2017v2.3
Gross Receipts
$4,582
Mission and Program Overview

Mission

This 501(c)3 entity has been formed to support the "x scholarship" fund for high school seniors participating in cbda's annual internship day program and to provide gifts to local non-profits. In addition to contributing to the enrichment of our community, one of the goals of the foundation is to increase public awareness of the scholarship program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$4,492$3,128▼ $1,364
Total Assets$4,492$3,128▼ $1,364
Liabilities
Other Liabilities-$7,500-
Total Liabilities$0$7,500▲ $7,500
Net Assets / Fund Balance
Unrestricted Net Assets$4,492$-4,372▼ $8,864
Total Net Assets Fund Balance$4,492$-4,372▼ $8,864
Total Liabilities and Net Assets / Fund Balance$4,492$3,128▼ $1,364
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Christopher StonePresident
Elwood Boone IiiDirector
Joashua SchulmanDirector
Kaitlin BurketDirector
Michael SummersDirector
Jeanne Evans-coxExecutive Di
Revenue and Support

Revenue Composition

Contributions and Grants
$4,582
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$4,582
Change in Net Assets
$-8,864

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,582
Total Revenue per Audited Statements
$4,582
Total Revenue per Form 990
$4,582
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$8,446
Grants and Similar Amounts Paid$5,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$7,500-$7,500
Grants to Domestic Individuals$5,000--$5,000
Fees for Services Accounting-$400-$400
Fees for Services Other-$304-$304
Advertising-$242-$242
Total Functional Expenses$5,000$8,446$0$13,446

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,446
Total Expenses per Audited Statements$13,446
Total Expenses per Form 990$13,446
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
Loan From Cbda$7,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
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

“Information is publicly available upon written request”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by executive director and president prior to filing”

Form 990, Page 6, Part VI, Line 15A

“To ensure the corporation operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall be conducted to determine whether compensation arrangements and benefits are reasonable, based on competent survey information and the result of arms length bargaining. A voting member of the board who receives compensation, directly or indirectly, from the corporation for services is precluded from voting on matters pertaining to that members compensation.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon written requests”

Filing and Contact Details

Filer

Filer Name
Central Business District Foundatio
EIN
81-2509880
Address
ONE COLUMBUS CENTER SUITE 611, VIRGINIA BEACH, VA 23462

Signing Officer

Name
Christopher Stone
Title
President
Phone
7574907812
Signed
2018-06-15

Organization Details

Principal Officer
Jeanne Evans-cox
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Jones CPA Group Pc
Address
100 CONSTITUTION DRIVE SUITE 200, VIRGINIA BEACH, VA 23462
Preparer
Nellie M Green CPA Cva
Phone
7576314760
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“This 501(c)3 entity has been formed to support the "x scholarship" fund for high school seniors participating in cbda's annual internship day program and to provide gifts to local non-profits. In addition to contributing to the enrichment of our community, one of the goals of the foundation is to increase public awareness of the scholarship program.”

Raw XML Appendix275 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.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THIS 501(C)3 ENTITY HAS BEEN FORMED TO SUPPORT THE "X SCHOLARSHIP" FUND FOR HIGH SCHOOL SENIORS PARTICIPATING IN CBDA'S ANNUAL INTERNSHIP DAY PROGRAM AND TO PROVIDE GIFTS TO LOCAL NON-PROFITS. IN ADDITION TO CONTRIBUTING TO THE ENRICHMENT OF OUR COMMUNITY, ONE OF THE GOALS OF THE FOUNDATION IS TO INCREASE PUBLIC AWARENESS OF THE SCHOLARSHIP PROGRAM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1INFORMATION IS PUBLICLY AVAILABLE UPON WRITTEN REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY EXECUTIVE DIRECTOR AND PRESIDENT PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TO ENSURE THE CORPORATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS SHALL BE CONDUCTED TO DETERMINE WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION AND THE RESULT OF ARMS LENGTH BARGAINING. A VOTING MEMBER OF THE BOARD WHO RECEIVES COMPENSATION, DIRECTLY OR INDIRECTLY, FROM THE CORPORATION FOR SERVICES IS PRECLUDED FROM VOTING ON MATTERS PERTAINING TO THAT MEMBERS COMPENSATION.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/ReturnTs02018-06-25T11:15:54-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,128
Liabilities
$7,500
Net assets
-$4,372
Revenue
$4,582
Expenses
$13,446
Net income
-$8,864
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.73$3.00$1.27$10.0$14.1$4.09
2023Summary only. Only limited summary data is available for this year.$2.82$0.00$2.82$3.59$3.28$0.31
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.51$0.00$2.51$8.14$8.85$0.71
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.21$0.00$3.21$4.02$9.09$5.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.29$0.00$8.29$10.4$8.69$1.69
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.60$0.00$6.60$14.0$8.62$5.41
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.19$0.00$1.19$14.1$8.51$5.56
2017Detailed filing. Detailed filing data is available for this year.$3.13$7.50$4.37$4.58$13.4$8.86
2016Summary only. Only limited summary data is available for this year.$4.49$0.00$4.49$5.15$0.66$4.49