Virginia Beach Billfish Tournament Llc
- Assets
- $153.8k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 2
- Location
- Virginia Beach, VA
- Founding
- 11/2011
- Data as of
- 12/2021
- EIN
- 27-5040479
Organization Overview
Virginia Beach Billfish Tournament Llc is located in Virginia Beach, VA. The organization was established in 2011. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Virginia Beach Billfish Tournament Llc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Beach Billfish Tournament Llc 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, Virginia Beach Billfish Tournament Llc generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 9.2% per year over the past 7 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 2017, Virginia Beach Billfish Tournament Llc has awarded 48 individual grants totaling $523,521. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENGAGE IN THE PROMOTION OF EDUCATIONAL SCIENTIFIC, AND CHARITABLE PURPOSES PERMITTED BY LAW, FACILITATED THROUGH A FISHING TOURNAMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VIRGINIA BEACH BILLFISH TOURNAMENT WAS BORN OF THE BEST VIRGINIA SPORTING TRADITIONS WITH A FOCUS ON CHARITABLE ENDEAVORS. SINCE THE FIRST EVENT IN 2004, THE VBBT HAS RAISED OVER $1.4 MILLION FOR CHARITY, SUPPORTING THE LOCAL BOYS & GIRLS CLUBS, STOPABUSE, ACHIEVABLE DREAM, EVMS CANCER RESEARCH, ACCESS COLLEGE FUND, CHAMPIONS FOR CHARITY, HAMPTON ROADS ACADEMY, VIRGINIA BEACH FRIENDS SCHOOL, THE PENINSULA SPCA, & THE BILLFISH FOUNDATION--AMONG OTHERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paula Davis Executive Director | OfficerTrustee | 40 | $20,000 |
Earle Hall Chariman Of The Board | OfficerTrustee | 1 | $0 |
Dennis Deans Secretary/treasurer | OfficerTrustee | 1 | $0 |
Charles Barker Trustee | Trustee | 0.25 | $0 |
Jud Black Trustee | Trustee | 0.25 | $0 |
Michael Atkinson Trustee | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $176,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $176,050 |
| Total Program Service Revenue | $1,071,140 |
| Investment income | $32 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$256,349 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,024,079 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $135,000 |
| 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. | $20,000 |
| Compensation of current officers, directors, key employees. | $9,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,699 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,345 |
| Fees for services: Management | $18,050 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $26,229 |
| Office expenses | $10,117 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,262 |
| Travel | $857 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $685 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,246 |
| Insurance | $1,043 |
| All other expenses | $250 |
| Total functional expenses | $1,061,967 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $123,939 |
| Savings and temporary cash investments | $607 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,570 |
| 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 | $726 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $153,842 |
| Accounts payable and accrued expenses | $0 |
| 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 | $151 |
| Total liabilities | $151 |
| Net assets without donor restrictions | $153,691 |
| 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 | $153,842 |
Grants Awarded
Over the last fiscal year, Virginia Beach Billfish Tournament Llc has awarded $132,000 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
Newport News, VA PURPOSE: YOUTH SVCS | $12,500 |
Newport News, VA PURPOSE: CHARITABLE PURPOSE | $10,500 |
Virginia Beach, VA PURPOSE: YOUTH SVCS | $10,500 |
Virginia Beach, VA PURPOSE: YOUTH SVCS | $10,500 |
Virginia Beach, VA PURPOSE: CHARITABLE PURPOSE | $10,500 |
Norfolk, VA PURPOSE: College Support | $10,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virginia Beach Billfish Tournament Llc has recieved totaling $12,000.
| Awarding Organization | Amount |
|---|---|
Chesapeake Bay Wine Classic Foundation Virginia Beach, VA PURPOSE: GENERAL FUND | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Charitable Ashburn, VA | $209,799,923 | $22,185,205 |
Wnc Bridge Foundation Asheville, NC | $146,559,840 | $12,380,465 |
The Forum For Youth Investment Washington, DC | $9,053,543 | $7,540,773 |
Hope For The Warriors Springfield, VA | $4,615,443 | $8,207,781 |
Mba Open Doors Foundation Washington, DC | $6,951,188 | $5,196,301 |
Spookstock Foundation Leesburg, VA | $1,341,695 | $5,091,159 |
The Methuselah Foundation Springfield, VA | $18,792,317 | $14,799,805 |
Kermit G Phillips Ii Charitable Tr Greensboro, NC | $71,515,607 | $5,235,464 |
Troon Foundation Elon, NC | $48,656,909 | $2,507,639 |
Glass Family Foundation Inc Asheville, NC | $24,447,807 | $3,179,935 |
Farm Journal Agricultural Foundation Washington, DC | $815,504 | $1,711,147 |
Yellow Ribbon Fund Inc Bethesda, MD | $1,996,496 | $3,055,184 |