Virginia Community Foundation

Organization Overview

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.

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.


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Board, Officers & Key Employees

Name (title)Compensation
Holly Lundgren
Executive Director
$16,000
Tony Harkonen
Treasurer
$0
Laura Bachschneider
Chair
$0
Greg Gilness
Vice Chair
$0
Leah Ryan
Secretary
$0
Timothy Riordan
Past Chair
$0

Financial Statements

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

Grants Awarded

Over the last fiscal year, Virginia Community Foundation has awarded $62,500 in support to 3 organizations.

Grant RecipientAmount

CITY OF VIRGINIA

PURPOSE: Downtown Revitalization Program

$50,000

UNITED WAY OF NORTHEASTERN MINNESOTA

Org PageRecipient Profile

Chisholm, MN

PURPOSE: COVID-19

$7,500

RANGE TRAIL COMMITTEE

Org PageRecipient Profile

Virginia, MN

PURPOSE: Subsidize equipment purchase for Range Trail Committee

$5,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Virginia Community Foundation has recieved totaling $4,000.

Awarding OrganizationAmount
Peter And Colette Johnson Foundation Inc

Breckenridge, CO

PURPOSE: SUPPORT OF THE FOUNDATIONS GENERAL FUND.

$4,000
View Grant Recipient Profile

Endowment Analysis

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

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