Virgina Maritime Association Inc
- Assets
- $2.4m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Norfolk, VA
- Founding
- 06/1930
- Data as of
- 09/2021
- EIN
- 54-0238120
Organization Overview
Virgina Maritime Association Inc is located in Norfolk, VA. The organization was established in 1930. According to its NTEE Classification (C32) the organization is classified as: Water Resources, Wetlands Conservation & Management, under the broad grouping of Environment and related organizations. As of 09/2021, Virgina Maritime Association Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virgina Maritime Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2021, Virgina Maritime Association Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.2% each year . All expenses for the organization totaled $2.2m during the year ending 09/2021. While expenses have increased by 12.6% per year over the past 6 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
PROMOTE AND PROTECT, AND ENCOURAGE THE INTERESTS OF COMMERCIAL SHIPPING IN THE PORTS OF VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED INFORMATION AND SUPPORT SERVICES FOR OVER 500 MEMBERS
CONDUCTED MULTIPLE EVENTS TO PROMOTE THE PORTS OF VIRGINIA AND THE SHIPPING INDUSTRY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David C White Executive VP & Secretary | OfficerTrustee | 38 | $332,789 |
Vernon S Davis VP Of Finance & Administration | 40 | $182,203 | |
Will Fediw VP Of Industry & Govt Affairs | 40 | $158,722 | |
Michael Drevyanko Director Of It | 40 | $155,039 | |
John C Williams Director Of Safety | 40 | $139,965 | |
Michael W Coleman President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $202,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $200,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $402,600 |
| Total Program Service Revenue | $662,735 |
| Investment income | $11,130 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $83,100 |
| Net Gain/Loss on Asset Sales | $53,712 |
| Net Income from Fundraising Events | $234,317 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,548,472 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $8,115 |
| 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. | $332,789 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $805,952 |
| Pension plan accruals and contributions | $172,348 |
| Other employee benefits | $78,407 |
| Payroll taxes | $54,875 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $112,800 |
| Fees for services: Lobbying | $100,276 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,426 |
| Fees for services: Other | $0 |
| Advertising and promotion | $111,365 |
| Office expenses | $20,644 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $81,554 |
| Travel | $70,191 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $49 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,004 |
| Insurance | $15,920 |
| All other expenses | $67,596 |
| Total functional expenses | $2,233,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,267 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $103,060 |
| 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 | $46,872 |
| Net Land, buildings, and equipment | $1,119,501 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,105,079 |
| Total assets | $2,448,779 |
| Accounts payable and accrued expenses | $566,706 |
| Grants payable | $0 |
| Deferred revenue | $485,871 |
| 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 | $1,105,079 |
| Total liabilities | $2,157,656 |
| Net assets without donor restrictions | $291,123 |
| 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 | $2,448,779 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virgina Maritime Association Inc has recieved totaling $200,000.
| Awarding Organization | Amount |
|---|---|
Hampton Roads Shipping Association Norfolk, VA PURPOSE: GENERAL SUPPORT | $200,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Global Fishing Watch Inc Washington, DC | $15,008,142 | $8,894,996 |
The Trust For Tomorrow Fairfield, NC | $3,019,390 | $8,833,485 |
James River Association Richmond, VA | $10,495,721 | $10,578,861 |
Restore Americas Estuaries Arlington, VA | $2,538,068 | $5,189,869 |
Shorerivers Inc Easton, MD | $2,648,829 | $4,340,458 |
Amazon Conservation Association Washington, DC | $3,109,071 | $3,028,782 |
Wine To Water Boone, NC | $5,319,856 | $5,244,290 |
Cumberland River Compact Inc Nashville, TN | $19,056,025 | $3,153,928 |
Waterways Council Inc Washington, DC | $2,198,017 | $3,194,948 |
Anacostia Watershed Society Inc Bladensburg, MD | $2,530,895 | $2,460,530 |
Virgina Maritime Association Inc Norfolk, VA | $2,448,779 | $2,548,472 |
American Whitewater Sylva, NC | $2,189,173 | $2,094,145 |