757 Angels Inc
- Assets
- $292.5k
- Revenue
- $424.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Norfolk, VA
- Founding
- 11/2016
- Data as of
- 12/2021
- EIN
- 47-2382748
Organization Overview
757 Angels Inc is located in Norfolk, VA. The organization was established in 2016. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, 757 Angels Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 757 Angels Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, 757 Angels Inc generated $424.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $388.4k during the year ending 12/2021. While expenses have increased by 13.3% 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
757 ANGELS IS A CATALYST TO HELP BUILD THE HAMPTON ROADS ECONOMY. 757 ANGELS IS A SELECT NETWORK OF BUSINESS LEADERS IN THE HAMPTON ROADS REGION, WHO PROVIDE INVESTMENT CAPITAL, STRATEGIC ADVICE AND MENTORING TO SELECTED STARTUP AND EARLY STAGE COMPANIES TO HELP THEM ACHIEVE MARKET LEADERSHIP. 757 ANGELS SEEKS DEALFLOW FROM THE HAMPTON ROADS REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP IN 757 ANGELS IS EXTENDED TO INDIVIDUALS WHO SHARE THE ANGEL'S VISION AND WILL ACTIVELY CONTRIBUTE TO THE PROCESS. 757 ANGELS ALSO RECEIVES A FEE FOR EACH APPLICATION FROM COMPANIES INTERESTED IN PRESENTING TO ANGEL INVESTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monique Adams Executive Director | Officer | 45 | $213,637 |
Owen Griffin Treasurer | OfficerTrustee | 1 | $0 |
Tina Mcrae Vice Chairman | OfficerTrustee | 1 | $0 |
Dave Levin Chairman | OfficerTrustee | 1 | $0 |
Paul Hirschbiel Board Member | Trustee | 1 | $0 |
John Paris Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $153,175 |
| All other contributions, gifts, grants, and similar amounts not included above | $53,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $206,175 |
| Total Program Service Revenue | $218,319 |
| Investment income | $83 |
| 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 | $424,577 |
| 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. | $213,637 |
| Compensation of current officers, directors, key employees. | $21,364 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $92,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,510 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,708 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,162 |
| Office expenses | $3,038 |
| Information technology | $6,117 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,516 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,296 |
| All other expenses | $1,439 |
| Total functional expenses | $388,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,232 |
| Savings and temporary cash investments | $103,424 |
| 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 | $18,822 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $292,478 |
| 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 | $4,662 |
| Total liabilities | $4,662 |
| 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 | $287,816 |
| Total liabilities and net assets/fund balances | $292,478 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that 757 Angels Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Sentara Healthcare Norfolk, VA PURPOSE: GROW AND DIVERSIFY THE HAMPTON ROADS ECONOMY | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Americans For Prosperity Arlington, VA | $36,122,323 | $113,776,550 |
Self Help Ventures Fund Durham, NC | $1,059,061,327 | $60,531,771 |
Anne Arundel Economic Development Corporation Annapolis, MD | $15,670,028 | $30,337,180 |
City Of Baltimore Development Corporation Baltimore, MD | $22,115,045 | $13,864,142 |
Prosperity Now Washington, DC | $29,090,376 | $24,644,874 |
Community Action Of South Eastern West Virginia Bluefield, WV | $9,324,400 | $12,779,130 |
Carter Street Corporation Chattanooga, TN | $16,714,346 | $6,596,539 |
Charlotte Center City Partners Charlotte, NC | $3,090,178 | $6,164,890 |
Venture Richmond Inc Richmond, VA | $7,025,585 | $5,575,003 |
Maryland Manufacturing Service Inc Salisbury, MD | $279,305 | $5,207,545 |
Enterprise Center Inc Chattanooga, TN | $3,677,488 | $5,998,300 |
Historic East Baltimore Community Action Coalition Inc Baltimore, MD | $9,898,806 | $3,562,151 |