Civic Intelligence

Virginia Nutrient Credit Exchange Association Inc

990 • Fiscal year 2017 • EIN 84-1703144

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 08, 2017

Organization ProfileWWW.THEEXCHANGEASSOCIATION.ORG
C/O Aqualaw Plc 6 South 5th StRichmond, VA 23219

(804) 716-9021

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Net Margin

69th percentile

9.0%

Higher net margin than 69% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Asset Growth

61st percentile

8.7%

Faster asset growth than 61% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

76th percentile

13%

Faster revenue growth than 76% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$1,669,184

Up $133,229 (+8.7%) from 2016

Net Assets

Up

$1,669,184

Up $147,352 (+9.7%) from 2016

Liabilities

Down

$0

Down $14,123 (-100%) from 2016

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin69th percentile

Revenue

Up

$1,642,500

Up $186,723 (+13%) from 2016

Expenses

Down

$1,495,148

Down $241,654 (-14%) from 2016

Net Income

Up

$147,352

Up $428,377 (+152%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $156,912Liabilities 2011: $0Net Assets 2011: $156,9122011Assets 2012: $1,970,422Liabilities 2012: $0Net Assets 2012: $1,970,4222012Assets 2013: $1,304,907Liabilities 2013: $0Net Assets 2013: $1,304,9072013Assets 2014: $1,421,996Liabilities 2014: $0Net Assets 2014: $1,421,9962014Assets 2015: $1,802,857Liabilities 2015: $0Net Assets 2015: $1,802,8572015Assets 2016: $1,535,955Liabilities 2016: $14,123Net Assets 2016: $1,521,8322016Assets 2017: $1,669,184Liabilities 2017: $0Net Assets 2017: $1,669,1842017Assets 2018: $1,089,419Liabilities 2018: $0Net Assets 2018: $1,089,4192018Assets 2019: $1,532,130Liabilities 2019: $0Net Assets 2019: $1,532,1302019Assets 2020: $1,757,931Liabilities 2020: $0Net Assets 2020: $1,757,9312020Assets 2021: $1,528,211Liabilities 2021: $0Net Assets 2021: $1,528,2112021Assets 2022: $1,382,226Liabilities 2022: $0Net Assets 2022: $1,382,2262022Assets 2023: $1,691,056Liabilities 2023: $0Net Assets 2023: $1,691,0562023Assets 2024: $1,686,973Liabilities 2024: $0Net Assets 2024: $1,686,9732024Assets 2025: $1,455,040Liabilities 2025: $0Net Assets 2025: $1,455,0402025

Highlighted filing

2017

Assets$1,669,184
Liabilities$0
Net Assets$1,669,184
Open 2017 Filing

Operations Trend

Revenue Growth76th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $244,365Expenses 2011: $131,398Net Income 2011: $112,9672011Revenue 2012: $2,001,546Expenses 2012: $189,039Net Income 2012: $1,812,5072012Revenue 2013: $1,370,905Expenses 2013: $2,036,420Net Income 2013: -$665,5152013Revenue 2014: $1,450,632Expenses 2014: $1,333,538Net Income 2014: $117,0942014Revenue 2015: $1,764,854Expenses 2015: $1,383,993Net Income 2015: $380,8612015Revenue 2016: $1,455,777Expenses 2016: $1,736,802Net Income 2016: -$281,0252016Revenue 2017: $1,642,500Expenses 2017: $1,495,148Net Income 2017: $147,3522017Revenue 2018: $1,096,448Expenses 2018: $1,676,213Net Income 2018: -$579,7652018Revenue 2019: $1,558,569Expenses 2019: $1,115,858Net Income 2019: $442,7112019Revenue 2020: $1,677,252Expenses 2020: $1,451,451Net Income 2020: $225,8012020Revenue 2021: $1,477,627Expenses 2021: $1,707,347Net Income 2021: -$229,7202021Revenue 2022: $1,346,416Expenses 2022: $1,492,401Net Income 2022: -$145,9852022Revenue 2023: $1,629,964Expenses 2023: $1,321,134Net Income 2023: $308,8302023Revenue 2024: $1,656,205Expenses 2024: $1,660,288Net Income 2024: -$4,0832024Revenue 2025: $2,532,347Expenses 2025: $2,764,280Net Income 2025: -$231,9332025

Highlighted filing

2017

Revenue$1,642,500
Expenses$1,495,148
Net Income$147,352
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 8, 2017
Return Version
2016v3.0
Gross Receipts
$1,642,500
Mission and Program Overview

Mission

To coordinate and facilitate participation of its members in virginia's chesapeake bay watershed nutrient credit exchange program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,521,832$1,669,184▲ $147,352
Cash and Non-Interest-Bearing Accounts$1,399,806$1,659,179▲ $259,373
Savings and Temporary Cash Investments$136,149$10,005▼ $126,144
Total Assets$1,535,955$1,669,184▲ $133,229
Liabilities
Other Liabilities$14,123--
Total Liabilities$14,123$0▼ $14,123
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,521,832$1,669,184▲ $147,352
Total Liabilities and Net Assets / Fund Balance$1,535,955$1,669,184▲ $133,229
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Harksen Frank W JrPresident
Frederick TomDirector
Mcgrath MichaelDirector
Mitchell TimDirector
Parker AndrewDirector
Petrovitch EdDirector
Pletl JimDirector
Puglisi PatDirector
Broderick TomTreasurer
Grandstaff James C MVice Presi
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,642,384
Investment Income
$116
Other Revenue
$0
Change in Net Assets
$147,352
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,495,148
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$1,279,590
Fees for Services Management---$213,928
Insurance---$1,506
Other Expenses---$124
Total Functional Expenses$0$0$0$1,495,148
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
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“Management responsibilities have been contracted to an independent third party - aqualaw, plc. During the fiscal year, aqualaw was compensated 93,145 for their services. No trustees, directors, officers or key employees of the association were employed by aqualaw.”

Form 990, Page 6, Part VI, Line 6

“The association is composed of public facility members and private facility members. In addition, there are two classes of affiliation known as facility affiliates and consultant affiliates.”

Form 990, Page 6, Part VI, Line 7A

“Public facility members and private facility members have the right to vote for the election of the members of the governing body and on each additional matter presented for such members for their consideration.”

Form 990, Page 6, Part VI, Line 8B

“The association does not have any committee with authority to act on behalf of the governing body.”

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

“The association's treasurer reviews form 990 before it is filed with the irs.”

Form 990, Page 6, Part VI, Line 12C

“The association follows the conflict of interest policy in section 13.1-871 of the virginia code, which is part of the virginia non- stock corporation law. The directors of the association regularly and consistently monitor and enforce compliance with section 13.1-871 of the virginia code by having the directors disclose any financial interest in new vendors/companies before such parties are hired to work for the association.”

Form 990, Page 6, Part VI, Line 19

“The association discloses its governing documents, conflict of interest policy and financial statements to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Virginia Nutrient Credit
EIN
84-1703144
Phone
8047169021
Address
C/O AQUALAW PLC 6 SOUTH 5TH ST, RICHMOND, VA 23219

Signing Officer

Name
Broderick Tom
Title
Treasurer
Phone
8047169021
Signed
2017-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Broderick Tom
Formed
2005
Legal Domicile
Va
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
Steve Walls & Assoc Pllc
Address
11541 NUCKOLS RD STE A, GLEN ALLEN, VA 23059
Preparer
Steven P Walls
Phone
8042700784
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Members of the board of governors volunteer their time and services to the association.”

Form 990, Part IX, Line 11G

“Disburse nutrient credits 1,279,590 0 0”

Raw XML Appendix305 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.

Path#Value
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IRS990/Form990PartVIISectionAGrp/PersonNm3PETROVITCH ED
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESI
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION DID NOT INCUR ANY LOBBYING EXPENSES IN THE FISCAL YEAR.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE C, PART IV
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS OF THE BOARD OF GOVERNORS VOLUNTEER THEIR TIME AND SERVICES TO THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT RESPONSIBILITIES HAVE BEEN CONTRACTED TO AN INDEPENDENT THIRD PARTY - AQUALAW, PLC. DURING THE FISCAL YEAR, AQUALAW WAS COMPENSATED 93,145 FOR THEIR SERVICES. NO TRUSTEES, DIRECTORS, OFFICERS OR KEY EMPLOYEES OF THE ASSOCIATION WERE EMPLOYED BY AQUALAW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ASSOCIATION IS COMPOSED OF PUBLIC FACILITY MEMBERS AND PRIVATE FACILITY MEMBERS. IN ADDITION, THERE ARE TWO CLASSES OF AFFILIATION KNOWN AS FACILITY AFFILIATES AND CONSULTANT AFFILIATES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PUBLIC FACILITY MEMBERS AND PRIVATE FACILITY MEMBERS HAVE THE RIGHT TO VOTE FOR THE ELECTION OF THE MEMBERS OF THE GOVERNING BODY AND ON EACH ADDITIONAL MATTER PRESENTED FOR SUCH MEMBERS FOR THEIR CONSIDERATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ASSOCIATION DOES NOT HAVE ANY COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ASSOCIATION'S TREASURER REVIEWS FORM 990 BEFORE IT IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ASSOCIATION FOLLOWS THE CONFLICT OF INTEREST POLICY IN SECTION 13.1-871 OF THE VIRGINIA CODE, WHICH IS PART OF THE VIRGINIA NON- STOCK CORPORATION LAW. THE DIRECTORS OF THE ASSOCIATION REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH SECTION 13.1-871 OF THE VIRGINIA CODE BY HAVING THE DIRECTORS DISCLOSE ANY FINANCIAL INTEREST IN NEW VENDORS/COMPANIES BEFORE SUCH PARTIES ARE HIRED TO WORK FOR THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ASSOCIATION DISCLOSES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8DISBURSE NUTRIENT CREDITS 1,279,590 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01535955
IRS990/TotalAssetsEOYAmt01669184
IRS990/TotalAssetsGrp/BOYAmt01535955
IRS990/TotalAssetsGrp/EOYAmt01669184
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01495148
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014123
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt014123
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01521832
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01669184
IRS990/TotalProgramServiceRevenueAmt01642384
IRS990/TotalRevenueGrp/ExclusionAmt01642384
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0116
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01642500
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01535955
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01669184
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03402 S GLEBE ROAD
IRS990/USAddress/CityNm0ARLINGTON
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd022202
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.THEEXCHANGEASSOCIATION.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRODERICK TOM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08047169021
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VIRGINIA NUTRIENT CREDIT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0EXCHANGE ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0VIRG
ReturnHeader/Filer/EIN0841703144
ReturnHeader/Filer/PhoneNum08047169021
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/O AQUALAW PLC 6 SOUTH 5TH ST
ReturnHeader/Filer/USAddress/CityNm0RICHMOND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023219
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07176F3543DE353E610C6E6BCA275D40EFB6929A7
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId07176F3543DE353E610C6E6BCA275D40EFB6929A7
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0264555225
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0STEVE WALLS & ASSOC PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt011541 NUCKOLS RD STE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLEN ALLEN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023059
ReturnHeader/PreparerPersonGrp/PhoneNum08042700784
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVEN P WALLS
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-11-14T14:10:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,669,184
Liabilities
$0
Net assets
$1,669,184
Revenue
$1,642,500
Expenses
$1,495,148
Net income
$147,352
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.46$0.00$1.46$2.53$2.76$0.23
2024Detailed filing. Detailed filing data is available for this year.$1.69$0.00$1.69$1.66$1.66$0.00
2023Detailed filing. Detailed filing data is available for this year.$1.69$0.00$1.69$1.63$1.32$0.31
2022Detailed filing. Detailed filing data is available for this year.$1.38$0.00$1.38$1.35$1.49$0.15
2021Detailed filing. Detailed filing data is available for this year.$1.53$0.00$1.53$1.48$1.71$0.23
2020Detailed filing. Detailed filing data is available for this year.$1.76$0.00$1.76$1.68$1.45$0.23
2019Detailed filing. Detailed filing data is available for this year.$1.53$0.00$1.53$1.56$1.12$0.44
2018Detailed filing. Detailed filing data is available for this year.$1.09$0.00$1.09$1.10$1.68$0.58
2017Detailed filing. Detailed filing data is available for this year.$1.67$0.00$1.67$1.64$1.50$0.15
2016Detailed filing. Detailed filing data is available for this year.$1.54$0.01$1.52$1.46$1.74$0.28
2015Detailed filing. Detailed filing data is available for this year.$1.80$0.00$1.80$1.76$1.38$0.38
2014Summary only. Only limited summary data is available for this year.$1.42$0.00$1.42$1.45$1.33$0.12
2013Summary only. Only limited summary data is available for this year.$1.30$0.00$1.30$1.37$2.04$0.67
2012Summary only. Only limited summary data is available for this year.$1.97$0.00$1.97$2.00$0.19$1.81
2011Summary only. Only limited summary data is available for this year.$0.16$0.00$0.16$0.24$0.13$0.11