Civic Intelligence

Norfolk Innovation Corridor

EIN 84-4182364 • 501(c)3 • Norfolk, VA

Profile

The corporation shall support the development, master-planning, programming, branding and marketing, public awareness, community-building and economic growth of the norfolk innovation corridor of norfolk, virginia.

PO Box 3224Norfolk, VA 23514

norfolkinnovation.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

78th percentile

0.09x

Higher debt load relative to assets than 78% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

77th percentile

0.05x

Higher debt load relative to revenue than 77% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

60th percentile

7.3%

Higher net margin than 60% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

82nd percentile

32%

Faster asset growth than 82% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

87th percentile

62%

Faster revenue growth than 87% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$114,080

Up $2,332 (+2.1%) from 2024

Liabilities

Down

$240

Down $2,747 (-92%) from 2024

Net Assets

Up

$113,840

Up $5,079 (+4.7%) from 2024

Operations
Liabilities / Revenue77th percentileNet Margin60th percentile

Revenue

Down

$151,271

Down $70,454 (-32%) from 2024

Expenses

Down

$146,192

Down $41,388 (-22%) from 2024

Net Income

Down

$5,079

Down $29,066 (-85%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth82nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$150K$100K$50K$0Assets 2021: $48,971Liabilities 2021: $1,379Net Assets 2021: $47,5922021Assets 2022: $62,579Liabilities 2022: $487Net Assets 2022: $62,0922022Assets 2023: $82,357Liabilities 2023: $7,741Net Assets 2023: $74,6162023Assets 2024: $111,748Liabilities 2024: $2,987Net Assets 2024: $108,7612024Assets 2025: $114,080Liabilities 2025: $240Net Assets 2025: $113,8402025

Highlighted filing

2025

Assets$114,080
Liabilities$240
Net Assets$113,840
Open 2025 Filing

Operations Trend

Revenue Growth87th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0Revenue 2021: $82,145Expenses 2021: $51,983Net Income 2021: $30,1622021Revenue 2022: $106,324Expenses 2022: $91,824Net Income 2022: $14,5002022Revenue 2023: $171,800Expenses 2023: $159,276Net Income 2023: $12,5242023Revenue 2024: $221,725Expenses 2024: $187,580Net Income 2024: $34,1452024Revenue 2025: $151,271Expenses 2025: $146,192Net Income 2025: $5,0792025

Highlighted filing

2025

Revenue$151,271
Expenses$146,192
Net Income$5,079
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$114,080
Liabilities
$240
Net assets
$113,840
Revenue
$151,271
Expenses
$146,192
Net income
$5,079
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.14$1.51$1.46$0.05
2024Detailed filing. Detailed filing data is available for this year.$1.12$0.03$1.09$2.22$1.88$0.34
2023Detailed filing. Detailed filing data is available for this year.$0.82$0.08$0.75$1.72$1.59$0.13
2022Detailed filing. Detailed filing data is available for this year.$0.63$0.00$0.62$1.06$0.92$0.15
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.01$0.48$0.82$0.52$0.30
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Mar 4, 2026
Return Version
2024v5.0
Gross Receipts
$151,271
Mission and Program Overview

Mission

The corporation shall support the development, master-planning, programming, branding and marketing, public awareness, community-building and economic growth of the norfolk innovation corridor of norfolk, virginia.

To encourage growth in entrepreneurship and innovation by attracting new technology startups and by retaining a talented workforce and attracting additional talent while also increasing local job opportunities that will help the unemployed, minortiy and disadvantaged living in the area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$111,483$109,499▼ $1,984
Land, Buildings, and Equipment, Net$265$81▼ $184
Total Assets$111,748$114,080▲ $2,332
Other Assets Total-$4,500-
Liabilities
Other Liabilities$2,987$240▼ $2,747
Total Liabilities$2,987$240▼ $2,747
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$108,761$113,840▲ $5,079
Total Net Assets Fund Balance$108,761$113,840▲ $5,079
Total Liabilities and Net Assets / Fund Balance$111,748$114,080▲ $2,332

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$81$1,265$1,346
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Nicole J HarrellChair
Alphonso AlbertDirector
Bryant ThomasDirector
Chris RuddickDirector
Christopher UiterwykDirector
Courtney R DoyleDirector
Dr Andrew CarringtonDirector
Dr Paul RobinsonDirector
Fred BabersDirector
Jaeson DandalidesDirector
Jennifer GeorgeDirector
Jessica WhiteheadDirector
Katy SchuckDirector
Kevin LeslieDirector
Kim SudderthDirector
Kurt EvertzDirector
Larry FilerDirector
Lavoris PaceDirector
Leland RemiasDirector
Luke DowningDirector
Marjorie Mayfield JacksonDirector
Mark HigginsDirector
Mark RosenfieldDirector
Martin GoossenDirector
Mary MillerDirector
Michaael NusbaumDirector
Nancy L GrdenDirector
Nancy Prather-johnsonDirector
Nick LeonardDirector
Noel MitchellDirector
Paul NoldeDirector
Paul RiceDirector
Perry FrazerDirector
Pratik KothariDirector
Robert ArmstrongDirector
Robert SharakDirector
Ryan KingDirector
Savannah BolinDirector
Scott JanneyDirector
Scott WilliamsDirector
Sean WashingtonDirector
Stacey Shelnut-hendrickDirector
Tara RamseyDirector
Thomas WhiteDirector
Tim RyanDirector
Toi HunterDirector
Tony SparagnoDirector
Tyler TrapaniDirector
Charles McphillipsFounding Director
Renee Howard1nd Vice CHA
Will Morrison2nd Vice CHA
Donna PhaneufImmediate Pa
Kathleen Comer MozziSecretary
Ali GunbeyiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$70,271
Program Service Revenue
$81,000
Investment Income
$0
Other Revenue
$0
All Other Contributions
$20,271
Change in Net Assets
$5,079

Audited Revenue Reconciliation

Revenue per Audited Statements
$151,271
Total Revenue per Audited Statements
$151,271
Total Revenue per Form 990
$151,271
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$114,012
Salaries, Compensation, and Employee Benefits$32,180
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$20,650$5,162-$25,812
Other Employee Benefits$3,578$895-$4,473
Occupancy$1,268$1,269-$2,537
Insurance$437$1,749-$2,186
Travel$1,025$973-$1,998
Payroll Taxes$1,516$379-$1,895
Advertising$257$1,029-$1,286
Office Expenses$501$583-$1,084
Fees for Services Accounting$224$522-$746
Depreciation Depletion$184--$184
Conferences and Meetings-$85-$85
Other Expenses$836$25-$25
Total Functional Expenses$129,687$16,505$0$146,192

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$146,192
Total Expenses per Audited Statements$146,192
Total Expenses per Form 990$146,192
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
Truist Credit Card$240
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 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, Page 6, Part VI, Line 11B

“The tax return was initially reviewed by the executive director. It was then reviewed and approved by the board before it was finalized and filed.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Norfolk Innovation Corridor
EIN
84-4182364
Phone
7579045753
Address
PO BOX 3224, NORFOLK, VA 23514

Signing Officer

Name
Nicole J Harrell
Title
Chair
Phone
7579045753
Signed
2026-03-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicole J Harrell
Formed
2019
Legal Domicile
Va
Voting Board Members
55
Independent Board Members
55
Employees
0

Preparer

Firm
Everfore Cpas & Advisors Pc
Address
120 ATLANTIC STREET SUITE 300, NORFOLK, VA 23510-1729
Preparer
Ali E Gunbeyi CPA
Phone
7576277672
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The corporation shall support the development, master-planning, programming, branding and marketing, public awareness, community-building and economic growth of the norfolk innovation corridor of norfolk, virginia.”

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

“The corporation shall support the development, master-planning, programming, branding and marketing, public awareness, community-building and economic growth of the norfolk innovation corridor of norfolk, virginia.”

Form 990, Part V

“Greater norfolk c process the payroll for this entity and the w-2's and 941's are filed umder gnc.”

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