Virginia Press Association Inc
- Assets
- $6.3m
- Revenue
- $838.1k
- Investments
- $3.8m
- Employees
- 0
- Location
- Glen Allen, VA
- Founding
- 09/1955
- Data as of
- 06/2022
- 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 06/2022, Virginia Press Association Inc generated $838.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 22.0% each year . All expenses for the organization totaled $451.9k during the year ending 06/2022. 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
2022
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 |
|---|---|---|---|
Betsy Edwards Executive Director | OfficerTrustee | 25 | $0 |
Jim Maxwell Secretary | OfficerTrustee | 0 | $0 |
Dennis Brack Director | Trustee | 0 | $0 |
Chad Harrison President | OfficerTrustee | 0 | $0 |
Jeane Boone Director | Trustee | 0 | $0 |
Carol Mccracken Vice President | 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 | $158,942 |
| Investment income | $85,018 |
| 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 | $838,145 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,070 |
| 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. | $67,035 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $98,229 |
| Pension plan accruals and contributions | $7,768 |
| Other employee benefits | $11,272 |
| Payroll taxes | $13,457 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,269 |
| Fees for services: Accounting | $7,371 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,052 |
| Fees for services: Other | $55,815 |
| Advertising and promotion | $959 |
| Office expenses | $10,641 |
| Information technology | $12,262 |
| Royalties | $0 |
| Occupancy | $22,738 |
| Travel | $2,466 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,427 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,484 |
| Insurance | $3,152 |
| All other expenses | $1,127 |
| Total functional expenses | $451,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $79,895 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,312 |
| 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 | $3,249 |
| Net Land, buildings, and equipment | $8,305 |
| Investments—publicly traded securities | $2,350,885 |
| Investments—other securities | $3,815,843 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,291,489 |
| Accounts payable and accrued expenses | $17,811 |
| 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 | $3,102,828 |
| Total liabilities | $3,120,639 |
| Net assets without donor restrictions | $3,170,850 |
| 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 | $6,291,489 |