Virginia Turfgrass Council Inc
- Assets
- $65.8k
- Revenue
- $141.7k
- Investments
- $50.5k
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 12/1970
- Data as of
- 06/2022
- EIN
- 23-7061677
Organization Overview
Virginia Turfgrass Council Inc is located in Virginia Beach, VA. The organization was established in 1970. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Turfgrass Council Inc is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2022, Virginia Turfgrass Council Inc generated $141.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $158.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (11.1%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
RESEARCH, EDUCATION AND PROMOTION OF THE TURFGRASS INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE TURFGRASS IMPROVEMENT AND THE SOD INDUSTRY BY PROMOTING RESEARCH, EDUCATION, AND THE DISSEMINATION OF INFORMATION TO OTHER ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Skelton President | OfficerTrustee | 3 | $0 |
Phil Bailey Vice President | OfficerTrustee | 3 | $0 |
Jimmy Viars Secretary/treasurer | OfficerTrustee | 3 | $0 |
Scott Woodward Past President | OfficerTrustee | 3 | $0 |
Wes Bray Director | Trustee | 0.5 | $0 |
Sam Burris Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $84,865 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $84,865 |
| Total Program Service Revenue | $56,802 |
| Investment income | $2 |
| 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 | $141,669 |
| 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. | $85,206 |
| Compensation of current officers, directors, key employees. | $42,603 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25 |
| Fees for services: Accounting | $4,665 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,820 |
| Advertising and promotion | $452 |
| Office expenses | $9,266 |
| Information technology | $2,532 |
| Royalties | $0 |
| Occupancy | $1,844 |
| Travel | $1,986 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,171 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,336 |
| All other expenses | $3,816 |
| Total functional expenses | $158,763 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,315 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $50,476 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,965 |
| Total assets | $65,756 |
| Accounts payable and accrued expenses | $18,888 |
| Grants payable | $0 |
| Deferred revenue | $6,110 |
| 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 | $190 |
| Other liabilities | $0 |
| Total liabilities | $25,188 |
| Net assets without donor restrictions | $0 |
| 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 | $40,568 |
| Total liabilities and net assets/fund balances | $65,756 |
Grants Awarded
Over the last fiscal year, Virginia Turfgrass Council Inc has awarded $11,321 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
VIRGINIA TURFGRASS FOUNDATION PURPOSE: EDUCATIONAL SUPPORT | $7,321 |
VIRGINIA TECH PURPOSE: EDUCATIONAL SUPPORT | $2,000 |
VIRGINIA TECH FOUNDATION PURPOSE: EDUCATIONAL SUPPORT | $1,000 |
THE TREE FOUNDATION PURPOSE: EDUCATIONAL SUPPORT | $1,000 |