Hampton Roads Auto Dealers Assoc
- Assets
- $752.4k
- Revenue
- $714.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 12/1967
- Data as of
- 12/2022
- EIN
- 54-0808620
Organization Overview
Hampton Roads Auto Dealers Assoc is located in Richmond, VA. The organization was established in 1967. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hampton Roads Auto Dealers Assoc 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 12/2022, Hampton Roads Auto Dealers Assoc generated $714.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $680.1k during the year ending 12/2022. While expenses have increased by 5.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
HRADA'S MISSION IS TO PROMOTE THE ENVIRONMENT OF AUTOMOBILE SALES AND SERVICES BY BRINGING LOCAL AUTOMBILE DEALERS TOGETHER TO SHARE INFORMATION AND IDEAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AUTOMOBILE SHOW: TO PROVIDE THE PUBLIC AN OPPORTUNITY TO SEE ALMOST EVERY MAKE AND MODEL VEHICLE AVAILABLE IN ONE PLACE.
DEALER MEETINGS AND BOARD OF DIRECTORS MEETINGS: TO BRING THE AUTOMOBILE DEALERSHIP OWNERS AND EMPLOYEES TOGETHER TO EXCHANGE IDEAS, DISCUSS BUSINESS TRENDS AND SHARE AUTOMOTIVE INFORMATION WITH EACH OTHER.
GOLF TOURNAMENT: TO PROMOTE COOPERATION AND CAMARADERIE AMONG THE AREA AUTOMOBILE DEALERSHIP OWNERS AND EMPLOYEES AND TO PROMOTE THE AUTOMOBILE INDUSTRY IN THE HAMPTON ROADS AREA FOR THE BENEFIT OF THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Clark Director | Trustee | 4 | $0 |
Cameron Shaw Director | Trustee | 4 | $0 |
Gerry Reust Director | Trustee | 4 | $0 |
Larry Stevenson Director | Trustee | 4 | $0 |
Mike Owen Director | Trustee | 4 | $0 |
Ken Deberry Director | Trustee | 4 | $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 | $670,692 |
| Investment income | $11,312 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $32,419 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $714,423 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $120,000 |
| Fees for services: Legal | $8,110 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,698 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $582 |
| All other expenses | $0 |
| Total functional expenses | $680,104 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,565 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $307,088 |
| 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 | $814 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $281,889 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $752,356 |
| Accounts payable and accrued expenses | $9,600 |
| Grants payable | $0 |
| Deferred revenue | $373,868 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $383,468 |
| Net assets without donor restrictions | $368,888 |
| 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 | $752,356 |