Virginia Telecommunications Industry Assoc
- Assets
- $49.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 1
- Location
- Glen Allen, VA
- Founding
- 01/1945
- Data as of
- 06/2024
- EIN
- 54-1032207
Organization Overview
Virginia Telecommunications Industry Assoc, operating under the name Industry Association Inc, is located in Glen Allen, VA. The organization was established in 1945. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Industry 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 06/2024, Industry Association Inc generated $60.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (16.9%) each year. All expenses for the organization totaled $53.8k during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (15.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3
ACHIEVED SUCCESSFUL VIRGINIA GENERAL ASSEMBLY SESSION WITH PASSAGE OF FAVORABLE LEGISLATION AND DEFEAT OF UNFAVORABLE LEGISLATION WHILE ALSO CREATING FAVORABLE CONDITIONS FOR STATE BROADBAND GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Schollmann Executive Director | 5 | $30,753 | |
Derek Kelly President, Director | 1 | $0 | |
Robert Taylor Vice President, Director | 1 | $0 | |
Bruce Mottern Treasurer, Director | 1 | $0 | |
Chad Kimble Director | 1 | $0 | |
Tim Harris Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $58,800 |
| Investment income | $1,289 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $60,089 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $30,753 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $23,054 |
| Total expenses | $53,807 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $49,699 |
| Other assets | $0 |
| Total assets | $49,699 |
| Total liabilities | $0 |
| Net assets or fund balances | $49,699 |