Virginia Community Foundation is located in Virginia, MN. The organization was established in 2000. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Virginia Community Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Community 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, Virginia Community Foundation generated $486.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $271.7k during the year ending 12/2021. While expenses have increased by 2.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CHARITABLE GIVING THROUGH VARIOUS INITIATIVES THAT STRENGTHEN AND REVITALIZE OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1ST THURSDAYS QUEEN CITY DOWNTOWN ART CRAWLA COMMUNITY EVENT CELEBRATING ART AND COMMUNITY IN VIRGINIA. ORGANIZED BY REVIVE VIRGINIA, THIS EVENT IS A COALITION OF BUSINESSES, ORGANIZATIONS AND INDIVIDUALS WORKING TO REVITALIZE OUR CENTRAL COMMERCIAL AREA THROUGH ENCOURAGING ACTIVE PARTICIPATION IN EVENTS. COMMUNITY ART EVENTS HAVE LED TO REPEAT CUSTOMERS AND INCREASED SALES FOR PARTICIPATING BUSINESSES.MINE TOUR PROJECTTHIS PROJECT WILL HELP MARKET AND PROMOTE THE MINE AREAS TO ATTRACT NEW VISITORS IN NE MINNESOTA. THE GOAL IS TO GENERATE A POSITIVE ECONOMIC IMPACT THROUGH TRAVEL AND TOURISM WHILE HIGHLIGHTING INTERESTING GEOLOGICAL SITES THAT CONTAIN HISTORY AND CULTURE OF THE NE MINNESOTA AREA. THE PROJECT WILL PROVIDE AN INTERACTIVE WAY TO EXPLORE AND LEARN ABOUT THE ACTIVE, INACTIVE, AND RECLAIMED MINE AREAS. IN ADDITION, THE PROJECT WILL ALSO HIGHLIGHT INTERESTING THINGS TO DO, TRAILS TO EXPLORE, AND SHOWCASE LOCAL ATTRACTIONS AND BUSINESSES/AMENITIES NEAR THE IDENTIFIED AREAS. PRODUCTS WILL INCLUDE WAYFINDING SIGNS FOR THE ATTRACTIONS, VIDEO HIGHLIGHTS, GOOGLE MAPPING CAPABILITIES AND ABILITY TO NAVIGATE THE SITES VIA GOOGLE MAPS WITH "NAVIGATE HERE" CAPABILITY.VHS BASEBALL PITCHING MACHINETHE EQUIPMENT PURCHASED SUPPORTS THE VIRGINIA HIGH SCHOOL BASEBALL PROGRAM. THE NEW EQUIPMENT WILL BE USED FOR MANY YEARS AND WILL BE USED FOR THE ROCK RIDGE PUBLIC SCHOOL BASEBALL PROGRAM WHEN THE VIRGINIA AND EVELETH/GILBERT PROGRAMS ARE CONSOLIDATED. THE EQUIPMENT WILL BE USED INSIDE AND OUTSIDE TO HELP DEVELOP SKILLS.DOWNTOWN REDEVELOPMENT PROJECTTHE DOWNTOWN REDEVELOPMENT PROGRAM PROVIDES ASSISTANCE TO ELIGIBLE DOWNTOWN BUSINESS OWNERS FOR THE RENOVATION, REHABILITATION AND EXPANSION OF COMMERCIAL PROPERTIES LOCATED IN THE CITY DESIGNATED REDEVELOPMENT DISTRICT. THIS PROJECT IS GEARED TOWARDS BUILDINGS THAT ARE SUBSTANDARD AND/OR BLIGHTED IN ORDER TO BRING THEM UP TO CODE AND BECOME ATTRACTIVE AGAIN. TYPICAL INVESTMENTS IN REHABILITATION OF OLDER COMMERCIAL BUILDINGS IN THE DISTRICT HAS CONSISTED PRIMARILY OF ROOF REPAIRS, WINDOW REPAIR AND REPLACEMENT, DEMOLITION, NEW DOORS, NEW SIGNAGE, EXTERIOR PAINTING AND RENOVATION, BRICK REPLACEMENT, TUCK POINTING, CODE COMPLIANCE, ADA REQUIREMENTS.LOU'S CLOSETFUNDS FROM LOU'S CLOSET ARE DESIGNATED TO STUDENTS ENROLLED AT ISD 2909. THE PURPOSE OF THESE FUNDS ARE USED TO PROMOTE THE ATTENDANCE AND ACHIEVEMENT OF LOW-INCOME STUDENTS OR FOR STUDENTS WHO ARE EXPERIENCING A CRISIS. THE CLOTHES CLOSETS THROUGHOUT THE SCHOOLS PROVIDE QUALITY, FUNCTIONAL ITEMS OF SEASONALLY APPROPRIATE SCHOOL CLOTHING TO STUDENTS WHOSE FAMILIES OR GUARDIANS LACK THE RESOURCES TO PROVIDE SUCH ITEMS. FUNDS ARE ALSO USED TO PROVIDE CORRECTIVE EYEWEAR AND OTHER NECESSARY ITEMS FOR ELIGIBLE STUDENTS TO IMPROVE AND ENCOURAGE THEIR EDUCATIONAL OUTCOMES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Holly Lundgren Executive Director | Officer | 40 | $16,000 |
Tony Harkonen Treasurer | OfficerTrustee | 2.5 | $0 |
Laura Bachschneider Chair | OfficerTrustee | 2.5 | $0 |
Greg Gilness Vice Chair | OfficerTrustee | 2.5 | $0 |
Leah Ryan Secretary | OfficerTrustee | 2.5 | $0 |
Timothy Riordan Past Chair | Trustee | 2.5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $40,765 |
Related organizations | $0 |
Government grants | $16,500 |
All other contributions, gifts, grants, and similar amounts not included above | $114,270 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $171,535 |
Total Program Service Revenue | $0 |
Investment income | $122,686 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $208,951 |
Net Income from Fundraising Events | -$21,918 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $486,282 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $62,064 |
Grants and other assistance to domestic individuals. | $32,250 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $16,000 |
Compensation of current officers, directors, key employees. | $6,400 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $67,101 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $7,529 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,035 |
Fees for services: Accounting | $10,000 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $26,136 |
Fees for services: Other | $4,724 |
Advertising and promotion | $8,843 |
Office expenses | $10,575 |
Information technology | $1,627 |
Royalties | $0 |
Occupancy | $6,991 |
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 | $10,452 |
Insurance | $3,662 |
All other expenses | $199 |
Total functional expenses | $271,747 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $14,953 |
Savings and temporary cash investments | $179,359 |
Pledges and grants receivable | $1,000 |
Accounts receivable, net | $2,513 |
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 | $1,222 |
Net Land, buildings, and equipment | $260,234 |
Investments—publicly traded securities | $4,946,467 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $5,405,748 |
Accounts payable and accrued expenses | $9,777 |
Grants payable | $50,000 |
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 | $59,777 |
Net assets without donor restrictions | $3,885,415 |
Net assets with donor restrictions | $1,460,556 |
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 | $5,405,748 |
Over the last fiscal year, Virginia Community Foundation has awarded $62,500 in support to 3 organizations.
Grant Recipient | Amount |
---|---|
CITY OF VIRGINIA PURPOSE: Downtown Revitalization Program | $50,000 |
Chisholm, MN PURPOSE: COVID-19 | $7,500 |
Virginia, MN PURPOSE: Subsidize equipment purchase for Range Trail Committee | $5,000 |
Over the last fiscal year, we have identified 1 grants that Virginia Community Foundation has recieved totaling $4,000.
Awarding Organization | Amount |
---|---|
Peter And Colette Johnson Foundation Inc Breckenridge, CO PURPOSE: SUPPORT OF THE FOUNDATIONS GENERAL FUND. | $4,000 |
Beg. Balance | $4,721,969 |
Earnings | $699,305 |
Admin Expense | $26,136 |
Net Contributions | $148,485 |
Other Expense | $308,561 |
Grants | $94,314 |
Ending Balance | $5,329,376 |
Organization Name | Assets | Revenue |
---|---|---|
Greater Milwaukee Foundation Inc Milwaukee, WI | $1,114,706,959 | $151,763,598 |
Thrivent Charitable Impact & Investing Appleton, WI | $809,708,853 | $138,812,775 |
Community Fdn Of Greater Des Moines Des Moines, IA | $756,930,676 | $144,988,273 |
Greater Green Bay Community Foundation Inc Green Bay, WI | $158,723,657 | $42,186,646 |
Community Foundation For The Fox Valley Region Inc Appleton, WI | $500,269,949 | $60,999,391 |
Madison Community Foundation Madison, WI | $285,628,719 | $40,248,600 |
Sioux Falls Area Community Foundation Inc Sioux Falls, SD | $264,068,911 | $59,923,672 |
Catholic Community Foundation Of Minnesota St Paul, MN | $510,001,439 | $72,097,381 |
Communitygiving St Cloud, MN | $193,103,222 | $46,523,540 |
Quad Cities Community Foundation Bettendorf, IA | $165,771,747 | $15,098,956 |
Greater Cedar Rapids Community Foundation Cedar Rapids, IA | $223,368,352 | $26,493,454 |
3m Open Fund Blaine, MN | $2,792,523 | $13,492,516 |