Massanetta Springs Inc
- Assets
- $9.6m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 44
- Location
- Harrisonburg, VA
- Founding
- 02/1969
- Data as of
- 12/2021
- EIN
- 54-0505926
Organization Overview
Massanetta Springs Inc is located in Harrisonburg, VA. The organization was established in 1969. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Massanetta Springs Inc employed 44 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Massanetta Springs 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 12/2021, Massanetta Springs Inc generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.5% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 4.6% 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
PROVIDE CONFERENCE PROGRAMS & LODGING TO VARIOUS GROUPS FOR CHARITABLE, RELIGIOUS OR EDUCATIONAL PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCE FACILITIES AND LODGING PROVIDED FOR RELIGIOUS, CHARITABLE AND EDUCATIONAL GROUPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clayton Rascoe Exec Dir/secretary/treasur | Officer | 40 | $60,681 |
Craig Nygard President | OfficerTrustee | 1 | $0 |
Sarah Morgan Vice President | OfficerTrustee | 1 | $0 |
C Brandon Brewer Trustee | Trustee | 1 | $0 |
Gary Blackmon Trustee | Trustee | 1 | $0 |
Howard Dudley Trustee | Trustee | 1 | $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 | $1,824,565 |
| Noncash contributions included in lines 1a–1f | $132 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,824,565 |
| Total Program Service Revenue | $742,936 |
| Investment income | $49,854 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,517 |
| Net Gain/Loss on Asset Sales | -$30,362 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$2,455 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,786,663 |
| 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. | $90,716 |
| Compensation of current officers, directors, key employees. | $8,801 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $338,434 |
| Pension plan accruals and contributions | $3,667 |
| Other employee benefits | $57,872 |
| Payroll taxes | $31,338 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,115 |
| Fees for services: Accounting | $12,940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,919 |
| Fees for services: Other | $0 |
| Advertising and promotion | $29,363 |
| Office expenses | $19,633 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $344,007 |
| Travel | $10,777 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,043 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $251,411 |
| Insurance | $51,344 |
| All other expenses | $7,883 |
| Total functional expenses | $1,565,075 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $794,381 |
| Savings and temporary cash investments | $115,487 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100,465 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,930 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,191,879 |
| Investments—publicly traded securities | $3,403,926 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,619,068 |
| Accounts payable and accrued expenses | $46,077 |
| Grants payable | $0 |
| Deferred revenue | $11,868 |
| 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 | $180,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $237,945 |
| Net assets without donor restrictions | $6,380,779 |
| Net assets with donor restrictions | $3,000,344 |
| 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 | $9,619,068 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Massanetta Springs Inc has recieved totaling $21,500.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Of Harrisonburg And Rockingham County Harrisonburg, VA PURPOSE: RECREATION | $14,000 |
Elizabeth Harnsberger Tr Ua Fbo Charit 5019000513 Las Vegas, NV PURPOSE: GENERAL OPERATING | $7,500 |
Endowment Analysis
| Beg. Balance | $1,150,846 |
| Earnings | $219,108 |
| Net Contributions | $5,000 |
| Other Expense | $39,702 |
| Ending Balance | $1,335,252 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Medical Group Association Inc Alexandria, VA | $19,689,445 | $10,462,815 |
National Association Of Counties Research Foundation Washington, DC | $4,701,784 | $7,841,848 |
Disability In Alexandria, VA | $11,237,053 | $8,690,736 |
American Exploration & Production Council Inc Washington, DC | $3,854,447 | $3,454,624 |
Wake Forest Innovation Quarter Management Co Winstonsalem, NC | $76,176 | $0 |
Felix E Martin Jr Foundation Inc Louisville, KY | $76,641,628 | $5,817,946 |
Umb Health Sciences Research Park Corporation Baltimore, MD | $16,268,947 | $1,917,755 |
Appalachian Community Capital Corporation Christiansburg, VA | $27,470,921 | $2,186,125 |
Business Council Washington, DC | $16,313,197 | $5,445,513 |
Responsible Business Alliance Foundation Alexandria, VA | $1,775,206 | $1,733,955 |
Massanetta Springs Inc Harrisonburg, VA | $9,619,068 | $2,786,663 |
Commodity Market Council Washington, DC | $947,159 | $1,056,049 |