Virginia Early Childhood Foundation
- Assets
- $19.9m
- Revenue
- $69.3m
- Investments
- $0.0
- Employees
- 23
- Location
- Henrico, VA
- Founding
- 03/2006
- Data as of
- 06/2023
- EIN
- 20-3970624
Organization Overview
Virginia Early Childhood Foundation is located in Henrico, VA. The organization was established in 2006. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. As of 06/2023, Virginia Early Childhood Foundation employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Early Childhood 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 06/2023, Virginia Early Childhood Foundation generated $69.3m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 47.4% each year . All expenses for the organization totaled $68.6m during the year ending 06/2023. While expenses have increased by 47.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Virginia Early Childhood Foundation has awarded 212 individual grants totaling $99,544,154. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
VECF IS THE NON-PARTISAN STEWARD OF VIRGINIA'S PROMISE FOR EARLY CHILDHOOD SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VECF ADMINISTERS SEVERAL LARGE GRANT INITIATIVES WITH THE GOAL OF IMPROVING COMMUNITY AND PARENTAL CAPACITY TO SUPPORT YOUNG CHILDREN'S SCHOOL READINESS. ACCOMPLISHMENTS INCLUDE IMPLEMENTATION OF READY REGIONS, A STATEWIDE NETWORK PROVIDING STRATEGIC LEADERSHIP AND PUBLIC-PRIVATE PARTNERSHIP TO ENSURE EVERY CHILD AND FAMILY HAS ACCESS TO QUALITY CHILD CARE SERVICES, THE MIXED DELIVERY PROGRAM OF FULL DAY, YEAR-ROUND CHILD CARE SERVICES FOR LOW-INCOME FAMILIES WITH CHILDREN FROM BIRTH TO AGE 5, COORDINATED ENROLLMENT OF CHILD CARE SERVICES, AND FAMILY ENGAGEMENT IN SYSTEMS DESIGN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Hurt Chair | OfficerTrustee | 1 | $0 |
Richard K Bynum Vice Chair | OfficerTrustee | 1 | $0 |
Mike Chinn Treasurer | OfficerTrustee | 1 | $0 |
Dr Cynthia Romero Secretary | OfficerTrustee | 1 | $0 |
Todd Asbury Director | Trustee | 1 | $0 |
Kartik B Athreya Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bridgecare Finance Inc Early Childhood Consulting | 6/29/23 | $708,750 |
Wonderschool Inc Early Childhood Consulting | 6/29/23 | $521,250 |
Capital Results Early Childhood Consulting | 6/29/23 | $244,248 |
Rcg Cpas Advisors Early Childhood Consulting & Financial S | 6/29/23 | $216,723 |
Johnson Inc Early Childhood Consulting | 6/29/23 | $200,273 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $67,896,642 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,448,489 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $69,345,131 |
| Total Program Service Revenue | $0 |
| Investment income | $1,976 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $69,347,107 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $39,906,780 |
| Grants and other assistance to domestic individuals. | $23,202,866 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $283,185 |
| Compensation of current officers, directors, key employees. | $70,797 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,197,734 |
| Pension plan accruals and contributions | $79,511 |
| Other employee benefits | $113,637 |
| Payroll taxes | $110,486 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,625 |
| Fees for services: Accounting | $33,650 |
| Fees for services: Lobbying | $9,600 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,035,585 |
| Advertising and promotion | $645 |
| Office expenses | $208,410 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $83,217 |
| Travel | $9,773 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75,685 |
| Interest | $114,617 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,942 |
| Insurance | $8,112 |
| All other expenses | $0 |
| Total functional expenses | $68,621,242 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,722,276 |
| Savings and temporary cash investments | $448,728 |
| Pledges and grants receivable | $11,132,433 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $105,482 |
| Net Land, buildings, and equipment | $35,986 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,407,478 |
| Total assets | $19,852,383 |
| Accounts payable and accrued expenses | $3,734,966 |
| Grants payable | $7,104,402 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,051,715 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,405,726 |
| Total liabilities | $16,296,809 |
| Net assets without donor restrictions | $248,716 |
| Net assets with donor restrictions | $3,306,858 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $19,852,383 |
Grants Awarded
Over the last fiscal year, Virginia Early Childhood Foundation has awarded $39,903,556 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
EASTERN VIRGINIA MEDICAL SCHOOL PURPOSE: CHILDHOOD/EDUCATIONAL DEVELOPMENT | $5,468,410 |
ANGELS AT PLAY LLC PURPOSE: CHILDHOOD/EDUCATIONAL DEVELOPMENT | $50,000 |
FAIRFAX COUNTY EARLY CHILDHOOD PROGRAMS AND SERVICES PURPOSE: CHILDHOOD/EDUCATIONAL DEVELOPMENT | $1,718,259 |
BONITA GOULD LLC PURPOSE: CHILDHOOD/EDUCATIONAL DEVELOPMENT | $50,000 |
COX-FORD ENTERPRISES LLC PURPOSE: CHILDHOOD/EDUCATIONAL DEVELOPMENT | $50,000 |
HENRICO EDUCATION FOUNDATION PURPOSE: CHILDHOOD/EDUCATIONAL DEVELOPMENT | $2,493,113 |