Greater Richmond Partnership Inc
- Assets
- $5.6m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Richmond, VA
- Founding
- 10/2014
- Data as of
- 06/2023
- EIN
- 54-1749303
Organization Overview
Greater Richmond Partnership Inc is located in Richmond, VA. The organization was established in 2014. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2023, Greater Richmond Partnership Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Richmond Partnership 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 06/2023, Greater Richmond Partnership Inc generated $3.0m 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 (7.1%) each year. All expenses for the organization totaled $2.7m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
GRP'S PURPOSE IS TO PROMOTE THE ECONOMIC DEVELOPMENT OF THE RICHMOND METROPOLITAN AREA IN COOPERATION WITH MEMBER LOCAL GOVERNMENTS. MORE SPECIFICALLY, GRP'S PURPOSE IS TO (I) ATTRACT NEW BUSINESSES AND INDUSTRIES WITHIN THE JURISDICTION OF THE MEMBER LOCAL GOVERNMENTS, (II) RETAIN EXISTING BUSINESSES AND INDUSTRIES WITHIN THE JURISDICTIONS OF THE MEMBER LOCAL GOVERNMENTS AND (III) FACILITATE THE LOCATION OF NEW BUSINESSES AND INDUSTRIES, AND THE EXPANSION AND REDEVELOPMENT OF EXISTING BUSINESSES AND INDUSTRIES, WITHIN THE JURISDICTIONS OF THE MEMBER LOCAL GOVERNMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE GREATER RICHMOND PARTNERSHIP IMPACTS THE REGION THROUGH WEALTH CREATION, DIRECT, INDIRECT, AND INDUCED JOBS, AND DIRECT, INDIRECT, AND INDUCED WAGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Newbille Chair | OfficerTrustee | 5 | $0 |
Patricia O'bannon Vice Chair | OfficerTrustee | 5 | $0 |
Charlene Whitfield Chair Elect | OfficerTrustee | 5 | $0 |
Bobby Ukrop Director | Trustee | 1 | $0 |
Angela Kelly-Wiecek Director | Trustee | 1 | $0 |
Buck Stinson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,611,274 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,325,153 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,936,427 |
| Total Program Service Revenue | $0 |
| Investment income | $41,846 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $538 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,980,203 |
| 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. | $453,769 |
| Compensation of current officers, directors, key employees. | $101,938 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $729,992 |
| Pension plan accruals and contributions | $67,487 |
| Other employee benefits | $192,050 |
| Payroll taxes | $75,637 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,363 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,641 |
| Fees for services: Other | $12,169 |
| Advertising and promotion | $0 |
| Office expenses | $95,191 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $101,488 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,737 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,272 |
| Insurance | $17,593 |
| All other expenses | $135,570 |
| Total functional expenses | $2,704,295 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,335,184 |
| Savings and temporary cash investments | $85,289 |
| Pledges and grants receivable | $1,477,538 |
| Accounts receivable, net | $879 |
| 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 | $89,983 |
| Net Land, buildings, and equipment | $558,061 |
| Investments—publicly traded securities | $1,253,936 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $766,364 |
| Total assets | $5,567,234 |
| Accounts payable and accrued expenses | $320,126 |
| 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 | $1,155,610 |
| Total liabilities | $1,475,736 |
| Net assets without donor restrictions | $4,040,347 |
| Net assets with donor restrictions | $51,151 |
| 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 | $5,567,234 |