Virginia Manufacturers Association Inc
- Assets
- $1.6m
- Revenue
- $1.9m
- Investments
- $380.2k
- Employees
- 9
- Location
- Richmond, VA
- Founding
- 05/1942
- Data as of
- 12/2021
- EIN
- 54-0452521
Organization Overview
Virginia Manufacturers Association Inc is located in Richmond, VA. The organization was established in 1942. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Virginia Manufacturers Association Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Manufacturers 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 12/2021, Virginia Manufacturers Association Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 1.3% 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
THE PURPOSE OF THE ASSOCIATION SHALL BE TO ENCOURAGE AND SUPPORT THE MANUFACTURING INDUSTRIES LOCATED WITHIN THE COMMONWEALTH OF VIRGINIA, TO AFFORD A MEDIUM FOR COOPERATION AMONG THOSE INDUSTRIES AND TO INITIATE, ENCOURAGE, FOSTER, AND PROMOTE CONSTRUCTIVE POLICIES AND ACTVITIES ON BEHALF OF INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SUPPORTED THE MANUFACTURING INDUSTRIES IN VIRGINIA AND PROVIDED A MEDIUM FOR COOPERATION, POLICIES, AND ACTIVITIES AMONG THOSE INDUSTRIES.
THE ORGANIZATION SUPPORTED THE MANUFACTURING INDUSTRIES IN VIRGINIA AND PROVIDED A MEDIUM FOR COOPERATION, POLICIES, AND ACTIVITIES AMONG THOSE INDUSTRIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Vassey President/ce | Officer | 40 | $257,115 |
Larry Souverielle Chairman | Officer | $0 | |
James Baisden Immed Past C | Officer | $0 | |
Scott Tilley Chairman Eme | Officer | $0 | |
Rob Hogan Board Adviso | Officer | $0 | |
Sidney Harrison Vice Chairma | Officer | $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 | $1,860,942 |
| Investment income | $3,981 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $47,943 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,912,866 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $728,630 |
| Pension plan accruals and contributions | $203,240 |
| Other employee benefits | $34,264 |
| Payroll taxes | $52,866 |
| Fees for services: Management | $204,660 |
| Fees for services: Legal | $265,248 |
| Fees for services: Accounting | $15,638 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,220 |
| Fees for services: Other | $6,340 |
| Advertising and promotion | $2,852 |
| Office expenses | $48,980 |
| Information technology | $8,153 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $12,485 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,290 |
| Interest | $34,443 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,891 |
| Insurance | $20,040 |
| All other expenses | $0 |
| Total functional expenses | $1,669,795 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,110,721 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $51,347 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,158 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,553 |
| Net Land, buildings, and equipment | $6,694 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $380,163 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,949 |
| Total assets | $1,604,585 |
| Accounts payable and accrued expenses | $117,362 |
| Grants payable | $0 |
| Deferred revenue | $142,744 |
| 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 | $1,480,294 |
| Total liabilities | $1,740,400 |
| Net assets without donor restrictions | -$506,336 |
| Net assets with donor restrictions | $370,521 |
| 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 | $1,604,585 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virginia Manufacturers Association Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Americans For Prosperity Arlington, VA PURPOSE: TRADE ISSUE CAMPAIGN | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amt-The Association For Manufacturing Technology Mclean, VA | $46,538,427 | $7,983,774 |
Personal Care Products Council Washington, DC | $26,566,920 | $19,071,135 |
American Hotel & Lodging Association Directory Corporation Washington, DC | $39,158,961 | $23,973,024 |
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
Responsible Business Alliance Inc Alexandria, VA | $17,217,182 | $20,384,843 |
Asis International Inc Alexandria, VA | $27,323,586 | $13,144,142 |
National Institute For Automotive Service Exellence Leesburg, VA | $25,163,895 | $18,755,834 |
International Masonry Institute Bowie, MD | $25,662,049 | $19,254,775 |
Association For Financial Professionals Inc Bethesda, MD | $30,134,135 | $15,069,162 |
Portland Cement Association Alexandria, VA | $21,852,055 | $18,216,465 |
American College Of Radiology Association Reston, VA | $28,168,186 | $16,951,008 |
Plastics Industry Association Inc Washington, DC | $19,265,703 | $12,261,158 |