Civic Intelligence

Vbc Giving Foundation Inc

990 • Fiscal year 2021 • EIN 85-1590783

Jan 01, 2021 to Dec 31, 2021 • Filed on Jan 13, 2023

Organization ProfileWWW.VBCGIVINGFOUNDATION.ORG
6128 Ridge AvenuePhiladelphia, PA 19128

(877) 254-1982

Siviq Scores

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

Liabilities / Assets

90th percentile

0.74x

Higher debt load relative to assets than 90% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

93rd percentile

2.49x

Higher debt load relative to revenue than 93% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

97th percentile

88%

Higher net margin than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets90th percentile

Assets

$4,645,502

No earlier filing loaded for comparison.

Net Assets

$1,216,717

No earlier filing loaded for comparison.

Liabilities

$3,428,785

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin97th percentile

Revenue

$1,377,104

No earlier filing loaded for comparison.

Expenses

$160,387

No earlier filing loaded for comparison.

Net Income

$1,216,717

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2021: $4,645,502Liabilities 2021: $3,428,785Net Assets 2021: $1,216,7172021Assets 2022: $6,860,125Liabilities 2022: $5,418,267Net Assets 2022: $1,441,8582022Assets 2023: $6,805,037Liabilities 2023: $5,688,743Net Assets 2023: $1,116,2942023Assets 2024: $6,480,501Liabilities 2024: $5,463,865Net Assets 2024: $1,016,6362024

Highlighted filing

2021

Assets$4,645,502
Liabilities$3,428,785
Net Assets$1,216,717
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500KRevenue 2021: $1,377,104Expenses 2021: $160,387Net Income 2021: $1,216,7172021Revenue 2022: $326,501Expenses 2022: $101,360Net Income 2022: $225,1412022Revenue 2023: $365,703Expenses 2023: $691,267Net Income 2023: -$325,5642023Revenue 2024: $938,741Expenses 2024: $1,038,399Net Income 2024: -$99,6582024

Highlighted filing

2021

Revenue$1,377,104
Expenses$160,387
Net Income$1,216,717
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jan 13, 2023
Return Version
2021v4.2
Gross Receipts
$1,379,612
Mission and Program Overview

Mission

Volumetric building companies (vbc) created the foundation to address the housing crisis in america and to give back to the community it serves. Vbc is creating an opportunity to bridge the housing gap while revitalizing areas that need support and investment.

To provide supportive and affordable housing to the most vulnerable populations (see sch o) in areas that are most in need. In addition, the foundation's goals are to build multi-family housing projects for seniors, disbaled persons, veterans, homeless (and housing insecure), people recovering from drug addiction, female head of household status and workforce.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$781,488-
Land, Buildings, and Equipment, Net$0$150,000▲ $150,000
Pledges and Grants Receivable-$80,000-
Accounts Receivable-$1,750-
Total Assets$0$4,645,502▲ $4,645,502
Other Assets Total$0$3,632,264▲ $3,632,264
Liabilities
Mortgage Notes Payable Secured by Investment Property-$2,856,949-
Accounts Payable and Accrued Expenses-$571,836-
Total Liabilities$0$3,428,785▲ $3,428,785
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$1,000,000-
Net Assets Without Donor Restrictions-$216,717-
Total Net Assets Fund Balance$0$1,216,717▲ $1,216,717
Total Liabilities and Net Assets / Fund Balance$0$4,645,502▲ $4,645,502

Asset Categories

AssetBook ValueDepreciationBasis
Land$150,000--
Other Assets Org$3,632,264--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Dana SpainPresident
Veronica KatzVice President
Taylor CampitelliSecretary
Peter CorduaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,354,576
Program Service Revenue
$0
Investment Income
$427
Other Revenue
$22,101
All Other Contributions
$1,158,626
Change in Net Assets
$1,216,717
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$160,387
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
Insurance-$67,103-$67,103
Interest-$18,645-$18,645
Fees for Services Accounting-$13,600-$13,600
Fees for Services Legal-$6,335-$6,335
Occupancy-$4,212-$4,212
Office Expenses-$1,939-$1,939
Other Expenses-$91-$91
Total Functional Expenses$0$160,387$0$160,387
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$24,609
Fundraising Direct Expenses$2,508
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Kick Off Event$24,609$24,609$2,508$22,101
Total Events$24,609$24,609$2,508$22,101
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
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
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

“The organization changed its name to vbc giving foundation inc in 2021.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is made available to the board of directors before filing.”

Form 990, Part VI, Section C, Line 18

“Documents are made available upon written request.”

Form 990, Part VI, Section C, Line 19

“Documents are made available upon written request.”

Filing and Contact Details

Filer

Filer Name
Vbc Giving Foundation Inc
EIN
85-1590783
Phone
8772541982
Address
6128 RIDGE AVENUE, PHILADELPHIA, PA 19128

Signing Officer

Name
Veronica Katz
Title
Vice President
Phone
8772541982
Signed
2023-01-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dana Spain
Formed
2020
Legal Domicile
Pa
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Hill Barth & King LLC
Address
220 LAKE DR E SUITE 205, CHERRY HILL, NJ 08002
Preparer
Mary T Malazita
Phone
8564862299
Supplemental Narrative

Additional Explanations

Form 990 Part 1

“To provide supportive and affordable housing to the most vulnerable populations in areas that are most in need. In addition, the foundation's goals are to build multi-family housing projects for seniors, disbaled persons, veterans, homeless (and housing insecure), people recovering from drug addiction, female head of household status and workforce.”

Form 990 Part 1 - B

“The organization was originally formed as mmc community foundation inc and changed its name on march 4, 2021 to vbc giving foundation inc.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is organized as an exempt organization under section 501(c)(3) of the internal revenue code ("irc"), effective june 17, 2020; accordingly, there is no income tax applicable to its activities. Currently, the foundation does not have any years under audit; however, the initial 2021 fiscal year remains open for examination by the irs and state taxing authorities. The foundation has not applied for status as a private operating foundation pursuant to section 4940(e) of the irc. U.s. Generally accepted accounting principles requires management to evaluate tax positions taken and recognize a tax liability, if the foundation has taken an uncertain tax position that more likely than not would not be sustained upon examination by a government authority. Management has analyzed the tax positions taken by the foundation and has concluded that as of december 31, 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the consolidated financial statements.”

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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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IRS990/MissionDesc0VOLUMETRIC BUILDING COMPANIES (VBC) CREATED THE FOUNDATION TO ADDRESS THE HOUSING CRISIS IN AMERICA AND TO GIVE BACK TO THE COMMUNITY IT SERVES. VBC IS CREATING AN OPPORTUNITY TO BRIDGE THE HOUSING GAP WHILE REVITALIZING AREAS THAT NEED SUPPORT AND INVESTMENT.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS ORGANIZED AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"), EFFECTIVE JUNE 17, 2020; ACCORDINGLY, THERE IS NO INCOME TAX APPLICABLE TO ITS ACTIVITIES. CURRENTLY, THE FOUNDATION DOES NOT HAVE ANY YEARS UNDER AUDIT; HOWEVER, THE INITIAL 2021 FISCAL YEAR REMAINS OPEN FOR EXAMINATION BY THE IRS AND STATE TAXING AUTHORITIES. THE FOUNDATION HAS NOT APPLIED FOR STATUS AS A PRIVATE OPERATING FOUNDATION PURSUANT TO SECTION 4940(E) OF THE IRC. U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY, IF THE FOUNDATION HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY A GOVERNMENT AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2021, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE SUPPORTIVE AND AFFORDABLE HOUSING TO THE MOST VULNERABLE POPULATIONS IN AREAS THAT ARE MOST IN NEED. IN ADDITION, THE FOUNDATION'S GOALS ARE TO BUILD MULTI-FAMILY HOUSING PROJECTS FOR SENIORS, DISBALED PERSONS, VETERANS, HOMELESS (AND HOUSING INSECURE), PEOPLE RECOVERING FROM DRUG ADDICTION, FEMALE HEAD OF HOUSEHOLD STATUS AND WORKFORCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION WAS ORIGINALLY FORMED AS MMC COMMUNITY FOUNDATION INC AND CHANGED ITS NAME ON MARCH 4, 2021 TO VBC GIVING FOUNDATION INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION CHANGED ITS NAME TO VBC GIVING FOUNDATION INC IN 2021.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF DIRECTORS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 PART 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990 PART 1 - B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0VBC GIVING FOUNDATION INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0DUFFIELD VETERANS VILLAGE LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0871479408
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt03290872
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0REAL ESTATE DEVELOPMENT
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0150100
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt06128 RIDGE AVE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0PHILADELPHIA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd019128
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0PA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt00
IRS990/TotalAssetsEOYAmt04645502
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt04645502
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01354576
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0160387
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0160387
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt03428785
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt03428785
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01216717
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt022528
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01377104
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04645502
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0241 S 6TH ST 2505
IRS990/USAddress/CityNm0PHILADELPHIA
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019106
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.VBCGIVINGFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0VERONICA KATZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08772541982
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-01-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VBC GIVING FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0VBCG
ReturnHeader/Filer/EIN0851590783
ReturnHeader/Filer/PhoneNum08772541982
ReturnHeader/Filer/USAddress/AddressLine1Txt06128 RIDGE AVENUE
ReturnHeader/Filer/USAddress/CityNm0PHILADELPHIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
ReturnHeader/Filer/USAddress/ZIPCd019128
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341897225
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HILL BARTH & KING LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0220 LAKE DR E SUITE 205
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHERRY HILL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008002
ReturnHeader/PreparerPersonGrp/PhoneNum08564862299
ReturnHeader/PreparerPersonGrp/PreparationDt02022-12-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARY T MALAZITA
ReturnHeader/ReturnTs02023-01-17T11:08:35-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0VERONICA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KATZ
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,645,502
Liabilities
$3,428,785
Net assets
$1,216,717
Revenue
$1,377,104
Expenses
$160,387
Net income
$1,216,717
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.48$5.46$1.02$0.94$1.04$0.10
2023Detailed filing. Detailed filing data is available for this year.$6.81$5.69$1.12$0.37$0.69$0.33
2022Detailed filing. Detailed filing data is available for this year.$6.86$5.42$1.44$0.33$0.10$0.23
2021Detailed filing. Detailed filing data is available for this year.$4.65$3.43$1.22$1.38$0.16$1.22