Virginia Baptist Homes Foundation Inc
- Assets
- $30.8m
- Revenue
- $6.4m
- Investments
- $10.1m
- Employees
- 0
- Location
- Glen Allen, VA
- Founding
- 06/1989
- Data as of
- 12/2023
- EIN
- 52-1373103
Organization Overview
Virginia Baptist Homes Foundation Inc is located in Glen Allen, VA. The organization was established in 1989. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Baptist Homes Foundation Inc 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 12/2023, Virginia Baptist Homes Foundation Inc generated $6.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 24.5% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 5.9% per year over the past 9 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 2015, Virginia Baptist Homes Foundation Inc has awarded 37 individual grants totaling $4,684,882. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SOLICIT, RECEIVE AND ADMINISTER GIFTS, GRANTS, AND CONTRIBUTIONS FOR VIRGINIA BAPTIST HOMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE VIRGINIA BAPTIST HOMES FOUNDATION IS TO SUPPORT THE WORK OF VIRGINIA BAPTIST HOMES BY DEVELOPING FUNDS THROUGH SOLICITATION OF GIFTS, CONDUCTING CAPITAL CAMPAIGNS, AND SPECIAL EVENTS. VIRGINIA BAPTIST HOMES OWNS AND OPERATES PLANNED SERVICES COMMUNITIES FOR SENIOR ADULTS, SOME OF WHOM CANNOT AFFORD TO PAY THE FULL COST OF THEIR CARE. THE VBH FOUNDATION PROVIDES FUNDING TO SUPPORT THOSE INDIVIDUALS WHO NEED FINANCIAL ASSISTANCE. THROUGHOUT THE 66 YEARS OF VBH HISTORY, NO RESIDENT HAS EVER BEEN ASKED TO LEAVE IF, THROUGH NO FAULT OF THEIR OWN, THEY OUTLIVE THEIR FINANCIAL RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Scott Cave Trustee | Trustee | 1 | $0 |
Revdan Carlton Trustee | Trustee | 1 | $0 |
Mr James Bales Trustee | Trustee | 1 | $0 |
Mssharon Brooks Trustee | Trustee | 1 | $0 |
Drvalerie Carter Trustee | Trustee | 1 | $0 |
Drtiffany Franks Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $4,405,510 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,603,211 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,008,721 |
| Total Program Service Revenue | $0 |
| Investment income | $403,117 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$19,822 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,392,016 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $135,193 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $525,308 |
| Pension plan accruals and contributions | $19,358 |
| Other employee benefits | $39,274 |
| Payroll taxes | $39,966 |
| Fees for services: Management | $0 |
| 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 | $35,462 |
| Advertising and promotion | $55 |
| Office expenses | $72,106 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,560 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $452 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,330 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,081,108 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $233,214 |
| 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 | $58,683 |
| Net Land, buildings, and equipment | $99,014 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $10,130,826 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,280,223 |
| Total assets | $30,801,960 |
| Accounts payable and accrued expenses | $135,717 |
| 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 | $9,617,869 |
| Total liabilities | $9,753,586 |
| Net assets without donor restrictions | $16,475,124 |
| Net assets with donor restrictions | $4,573,250 |
| 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 | $30,801,960 |
Grants Awarded
Over the last fiscal year, Virginia Baptist Homes Foundation Inc has awarded $863,559 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CULPEPER BAPTIST RETIREMENT COMMUNITY INC PURPOSE: SUPPORT | $381,885 |
NEWPORT NEWS BAPTIST RETIREMENT COMMUNITY INC PURPOSE: SUPPORT | $79,350 |
THE GLEBE INC PURPOSE: SUPPORT | $174,540 |
LAKEWOOD MANOR BAPTIST COMMUNITY INC PURPOSE: SUPPORT | $195,549 |
LYNCHBURG BAPTIST RETIREMENT COMMUNITY LLC PURPOSE: SUPPORT | $32,235 |