Virginia Sports Hall Of Fame Foundation Inc
- Assets
- $278.1k
- Revenue
- $299.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Virginia Beach, VA
- Founding
- 02/2007
- Data as of
- 06/2021
- EIN
- 20-5039673
Organization Overview
Virginia Sports Hall Of Fame Foundation Inc is located in Virginia Beach, VA. The organization was established in 2007. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. As of 06/2021, Virginia Sports Hall Of Fame Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Sports Hall Of Fame Foundation Inc 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 06/2021, Virginia Sports Hall Of Fame Foundation Inc generated $299.7k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $304.7k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE VIRGINIA SPORTS HALL OF FAME FOUNDATION IS TO SERVE AS A NON-PROFIT RESOURCE WHICH CELEBRATES ATHLETIC EXCELLENCE IN THE COMMONWEALTH OF VIRGINIA, WHILE INSPIRING THE PUBLIC THOUGH PROGRAMMING AND ENGAGING ENTERTAINMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSPIRING THE PUBLIC THOUGH PROGRAMMING AND ENGAGING ENTERTAINMENT TO CELEBRATE THE LIVES AND ACCOMPLISHMENTS OF VIRGINIA'S FINEST ATHLETES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Will Driscoll Executive Director | OfficerTrustee | 43 | $65,125 |
Delegate Richard Dickie Bell Director | Trustee | 1 | $0 |
Marty Miller Director | Trustee | 1 | $0 |
Warren Harris Director | Trustee | 1 | $0 |
Charles Ciccotti Director | Trustee | 1 | $0 |
Mike Davis Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,504 |
| Fundraising events | $56,006 |
| Related organizations | $44,862 |
| Government grants | $88,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $121,278 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $316,950 |
| Total Program Service Revenue | $0 |
| Investment income | $2,764 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,997 |
| Net Income from Fundraising Events | -$29,962 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $299,749 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $73,651 |
| Compensation of current officers, directors, key employees. | $40,508 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,000 |
| Pension plan accruals and contributions | $1,389 |
| Other employee benefits | $10,482 |
| Payroll taxes | $8,267 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,200 |
| Fees for services: Accounting | $11,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,051 |
| Fees for services: Other | $0 |
| Advertising and promotion | $29,716 |
| Office expenses | $14,695 |
| Information technology | $19,000 |
| Royalties | $0 |
| Occupancy | $43,630 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,105 |
| Insurance | $7,249 |
| All other expenses | $0 |
| Total functional expenses | $304,713 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,398 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $2,568 |
| Net Land, buildings, and equipment | $75,888 |
| Investments—publicly traded securities | $69,209 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $278,063 |
| Accounts payable and accrued expenses | $18,656 |
| Grants payable | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18,656 |
| Net assets without donor restrictions | $259,407 |
| Net assets with donor restrictions | $0 |
| 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 | $278,063 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virginia Sports Hall Of Fame Foundation Inc has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
United Way Of South Hampton Roads Norfolk, VA PURPOSE: GRANTS AWARDED | $35,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Carolina University Educational Foundation Inc Greenville, NC | $33,102,129 | $12,018,167 |
Uncw Student Aid Association Inc Wilmington, NC | $3,125,370 | $1,638,038 |
Tenngreen Land Conservancy Nashville, TN | $19,971,388 | $11,678,938 |
Capitol Sea Devils Swimm Team Sterling, VA | $741,563 | $1,098,234 |
Pride Hockey Association Inc Bethesda, MD | $385,995 | $843,934 |
Patriot Foundation Pinehurst, NC | $1,492,250 | $862,205 |
Roanoke Outside Roanoke, VA | $523,412 | $727,631 |
Legacy Parks Foundation Knoxville, TN | $2,339,940 | $1,000,351 |
Nrva Inc Blacksburg, VA | $708,640 | $374,310 |
Walter Johnson Crew Club Inc Bethesda, MD | $159,109 | $367,851 |
Oak Ridge Youth Association Oak Ridge, NC | $71,834 | $359,863 |
Southern Organized Cheer Support Inc Somerset, KY | $152,763 | $355,833 |