Danville Regional Foundation
- Assets
- $280.5m
- Revenue
- $21.6m
- Investments
- $264.9m
- Employees
- 0
- Location
- Danville, VA
- Founding
- 09/2006
- Data as of
- 12/2021
- EIN
- 20-3319727
Organization Overview
Danville Regional Foundation is located in Danville, VA. The organization was established in 2006. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Danville Regional Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Danville Regional Foundation generated $21.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $29.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Danville Regional Foundation has awarded 120 individual grants totaling $45,428,631. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clark Casteel President & CEO | 40 | $217,878 | |
Jon C Sells Treasurer & CFO | 40 | $126,226 | |
Lori Merrick Dir.-Marketing & Com | 40 | $98,162 | |
Annie Martinie Sr. Prog. Officer | 40 | $95,641 | |
Willie Jones Sr. Prog. Officer | 40 | $91,657 | |
Starling Mckenzie Sr. Prog. Officer | 40 | $89,050 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wedge Capital Management | 12/30/21 | $205,360 |
Downtown Danville Development Llc | 12/30/21 | $188,400 |
Advisory Research Inc | 12/30/21 | $150,304 |
Richmond Capital | 12/30/21 | $100,847 |
Economic Leadership Llc | 12/30/21 | $122,790 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $33,224 |
| Dividends & Interest | $4,672,578 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $16,575,801 |
| Capital Gain Net Income | $16,575,801 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $324,359 |
| Total Revenue | $21,605,962 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $507,466 |
| Other employee salaries and wages | $658,759 |
| Pension plans, employee benefits | $177,698 |
| Interest | $49,618 |
| Taxes | $523,922 |
| Depreciation | $62,842 |
| Occupancy | $92,013 |
| Travel, conferences, and meetings | $14,282 |
| Printing and publications | $0 |
| Other expenses | $804,051 |
| Total operating and administrative expenses | $4,898,857 |
| Contributions, gifts, grants paid | $24,334,497 |
| Total expenses and disbursements | $29,233,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,062 |
| Savings and temporary cash investments | $14,502,568 |
| Net Accounts receivable | $14,642 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $95,454 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $150,870,485 |
| Net Land, buildings, and equipment | $542,500 |
| Other assets | $328,258 |
| Total assets | $280,479,931 |
| Accounts payable and accrued expenses | $475,522 |
| Grants payable | $23,733,146 |
| Deferred revenue | $134,987 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $1,078,695 |
| Other liabilities | $1,061,163 |
| Total liabilities | $26,483,513 |
Grants Awarded
Over the last fiscal year, Danville Regional Foundation has awarded $31,405,132 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
Danville, VA PURPOSE: REACH PARTNERSHIP | $5,750,620 |
SMART BEGINNINGS PURPOSE: SCHOOL READINESS INITIATIVE III | $3,600,115 |
Danville, VA PURPOSE: AU ONLINE | $2,557,500 |
PIEDMONT COMMUNITY COLLEGE PURPOSE: CENTER FOR EDUCATIONAL & AGRICULTURAL DEVELOPMENT (CEAD) | $2,509,650 |
CITY OF DANVILLE VA PURPOSE: RIVERFRONT PARK | $2,000,000 |
CITY OF DANVILLE VA PURPOSE: RIVERFRONT PARK | $2,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Danville Regional Foundation has recieved totaling $488,155.
| Awarding Organization | Amount |
|---|---|
Averett University Danville, VA PURPOSE: CAREER DEVELOPMENT AND COMMUNITY SERVICE | $488,155 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trousdale Foundation Inc Cleveland, TN | $157,578,588 | $76,137,385 |
The United Methodist Retirement Homes Inc Durham, NC | $351,992,425 | $85,120,969 |
Msi-Us Washington, DC | $1,301,607 | $71,292,993 |
Peter Alfond Foundation Bethesda, MD | $78,752,550 | $129,307,233 |
Bhp Foundation Washington, DC | $309,092,778 | $68,102,954 |
Wyss Medical Foundation Inc Washington, DC | $41,278,790 | $827,503 |
Service Coordination Inc Frederick, MD | $19,156,790 | $52,158,150 |
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
J Willard And Alice S Marriott Foundation Bethesda, MD | $441,340,618 | $31,840,539 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
Bainum Family Foundation Bethesda, MD | $0 | $60,288,788 |