Virginia Press Association Inc
- Assets
- $6.0m
- Revenue
- $986.0k
- Investments
- $3.2m
- Employees
- 0
- Location
- Glen Allen, VA
- Founding
- 09/1955
- Data as of
- 06/2021
- EIN
- 54-0420455
Organization Overview
Virginia Press Association Inc is located in Glen Allen, VA. The organization was established in 1955. According to its NTEE Classification (A03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Press 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 06/2021, Virginia Press Association Inc generated $986.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 32.0% each year . All expenses for the organization totaled $473.6k during the year ending 06/2021. While expenses have increased by 10.0% 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
TO SUPPORT OUR MEMBERSHIP THROUGH RESPONSIVE SERVICES AND RESOURCES. WE CHAMPION THE COMMON INTERESTS OF VIRGINIA NEWSPAPERS AND THE IDEALS OF A FREE PRESS IN A DEMOCRATIC SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES: TO PROMOTE AND DEVELOP INTERACTION BETWEEN NEWSPAPERS IN VIRGINIA THROUGH PROFESSIONAL DEVELOPMENT AND AWARDS RECOGNITION.
LEGISLATION: TO REPRESENT NEWSPAPER INTEREST IN THE GENERAL ASSEMBLY THROUGH LOBBYING EFFORTS.
WORKSHOPS: TO OFFER RELEVANT EDUCATION AND TRAINING OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Kennedy President | OfficerTrustee | 0 | $0 |
Chad Harrison President, Elect | OfficerTrustee | 0 | $0 |
Betsy Edwards Executive Director | OfficerTrustee | 25 | $0 |
Carol Mccracken Vice President | OfficerTrustee | 0 | $0 |
Jim Maxwell Treasurer | OfficerTrustee | 0 | $0 |
Billy Coleburn Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $168,559 |
| Investment income | $25,879 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $174 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,559 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $986,025 |
| 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. | $76,373 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,463 |
| Pension plan accruals and contributions | $6,016 |
| Other employee benefits | $13,617 |
| Payroll taxes | $13,652 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,193 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,915 |
| Fees for services: Other | $54,847 |
| Advertising and promotion | $598 |
| Office expenses | $16,188 |
| Information technology | $12,196 |
| Royalties | $0 |
| Occupancy | $28,032 |
| Travel | $1,658 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,300 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $398 |
| Insurance | $2,504 |
| All other expenses | $12,850 |
| Total functional expenses | $473,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,895 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,220 |
| 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 | $12,954 |
| Net Land, buildings, and equipment | $4,732 |
| Investments—publicly traded securities | $2,717,548 |
| Investments—other securities | $3,221,703 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,027,052 |
| Accounts payable and accrued expenses | $3,539 |
| 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 | $2,940,163 |
| Total liabilities | $2,943,702 |
| Net assets without donor restrictions | $3,083,350 |
| 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 | $6,027,052 |
Endowment Analysis
| Beg. Balance | $595,592 |
| Earnings | $225,965 |
| Net Contributions | $2,000,000 |
| Other Expense | $104,009 |
| Ending Balance | $2,717,548 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ncta-The Internet & Television Association Washington, DC | $96,448,657 | $68,043,969 |
American Institute Of Architects Washington, DC | $228,151,100 | $44,067,877 |
National Council Of Architectural Registration Boards Washington, DC | $46,963,365 | $34,196,045 |
American Society Of Landscape Architects Inc Washington, DC | $17,442,651 | $12,339,355 |
News Media Alliance Arlington, VA | $20,710,538 | $7,719,219 |
American Association Of Museums Arlington, VA | $11,405,115 | $9,674,597 |
Association For Print Technologies Inc Franklin, TN | $5,247,559 | $1,238,108 |
American Press Institute Inc Arlington, VA | $55,812,695 | $5,259,956 |
National Art Education Association Alexandria, VA | $5,332,373 | $7,206,215 |
National Communication Association Washington, DC | $10,518,840 | $3,243,981 |
Architectural Woodwork Institute Potomac Falls, VA | $9,021,141 | $4,703,574 |
National Assembly Of State Arts Agencies Washington, DC | $2,542,835 | $4,408,580 |