Henrico County Vocational Technical Education Foundation Inc
- Assets
- $2.1m
- Revenue
- -$328.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Henrico, VA
- Founding
- 06/1989
- Data as of
- 06/2023
- EIN
- 54-1423600
Organization Overview
Henrico County Vocational Technical Education Foundation Inc is located in Henrico, VA. The organization was established in 1989. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Henrico County Vocational Technical Education Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY EXEMPT PURPOSE OF THE FOUNDATION IS TO PROVIDE A HANDS ON VOCATIONAL EDUCATION EXPERIENCE THAT IS NOT OTHERWISE AVAILABLE IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENTS ARE WORKING ON THE COMPLETION OF CONSTRUCTION OF A NEW HOME. ALL DIRECT COSTS ARE CAPITALIZED UNTIL THE HOME IS SOLD. ONE HOME WAS SOLD IN THE FISCAL YEAR ENDING 6.30.2023.
THE FOUNDATION DONATED 10,259 TO THREE HENRICO COUNTY VIRGINIA PUBLIC HIGH SCHOOL TECHNICAL CENTERS (HIGHLAND SPRINGS TECHNICAL CENTER, THE ACADEMY AT VIRGINIA RANDOLPH, AND HERMITAGE TECHNICAL CENTER) AND THE HENRICO COUNTY PUBLIC SCHOOLS CTE PROGRAM TO SUPPORT ACADEMIC NEEDS OF STUDENTS WHO OTHERWISE COULD NOT AFFORD THE COST OF THE SCHOOL PROGRAMS.
DURING THE SUMMER MONTHS, STUDENTS MAY ATTEND A "SUMMER FUN" PROJECT TO RAISE AWARENESS OF THE HENRICO CTE PROGRAM. OTHER SPECIAL PROJECTS ARE PERFORMED THAT CONTRIBUTE TO THE LEARNING OBJECTIVES OF THE PROGRAM. DURING THESE PROJECTS, STUDENTS WORKED ON REHABILITATING AN EXISTING STRUCTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
F Philip Parker Jr President | OfficerTrustee | $0 | |
Dominique Chapman Vice Preside | OfficerTrustee | $0 | |
Michael Edwards CPA Cfe Treasurer | OfficerTrustee | $0 | |
Cheryl Shanahan Secretary | OfficerTrustee | $0 | |
Karen G Nicely Director | Trustee | $0 | |
Allison Powell Director | Trustee | $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 | $2,510 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,510 |
| Total Program Service Revenue | $0 |
| Investment income | $10,438 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$346,690 |
| Net Income from Fundraising Events | $5,086 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$328,656 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,259 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $440 |
| 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 | $4,559 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $805 |
| All other expenses | $0 |
| Total functional expenses | $19,200 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,673,696 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $395,975 |
| Total assets | $2,069,671 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,018,874 |
| Net assets with donor restrictions | $50,797 |
| 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 | $2,069,671 |