Smithfield-Preston Foundation
- Assets
- $3.4m
- Revenue
- $389.6k
- Investments
- $0.0
- Employees
- 5
- Location
- Blacksburg, VA
- Founding
- 05/1996
- Data as of
- 06/2022
- EIN
- 54-1785583
Organization Overview
Smithfield-Preston Foundation is located in Blacksburg, VA. The organization was established in 1996. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Smithfield-Preston Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Smithfield-Preston Foundation 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 06/2022, Smithfield-Preston Foundation generated $389.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $347.4k during the year ending 06/2022. While expenses have increased by 15.0% 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
PRESERVATION AND INTERPRETATION OF HISTORIC PROPERTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVING AND INTERPRETING THE HERITAGE OF THE REGION USING HISTORIC PROPERTIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Spencer Executive Director | Trustee | 40 | $94,167 |
Daniel Riley Treasurer | OfficerTrustee | 3 | $0 |
Charles Fox IV Board Chair | OfficerTrustee | 3 | $0 |
Brockenbrough A Lamb Member | Trustee | 3 | $0 |
Dan Thorp Board | Trustee | 3 | $0 |
Frank Akers Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $17,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $250,412 |
| Noncash contributions included in lines 1a–1f | $300 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $267,412 |
| Total Program Service Revenue | $25,378 |
| Investment income | $12,322 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,980 |
| Net Gain/Loss on Asset Sales | $55,843 |
| Net Income from Fundraising Events | $2,668 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,990 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $389,597 |
| 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. | $94,167 |
| Compensation of current officers, directors, key employees. | $17,892 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,045 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,981 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,280 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,580 |
| Fees for services: Other | $3,386 |
| Advertising and promotion | $13,099 |
| Office expenses | $2,094 |
| Information technology | $2,612 |
| Royalties | $0 |
| Occupancy | $13,153 |
| Travel | $268 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $542 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,777 |
| Insurance | $13,051 |
| All other expenses | $32,002 |
| Total functional expenses | $347,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $107,775 |
| 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 | $14,543 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,399,090 |
| Investments—publicly traded securities | $653,492 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $261,400 |
| Total assets | $3,436,600 |
| 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 | $4,267 |
| Total liabilities | $4,267 |
| Net assets without donor restrictions | $3,251,341 |
| Net assets with donor restrictions | $180,992 |
| 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 | $3,436,600 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Smithfield-Preston Foundation has recieved totaling $6,294.
| Awarding Organization | Amount |
|---|---|
Landon E Fuller And Marian C Fuller Perpetual Charitable Trust Danville, VA PURPOSE: TO FURTHER CHARITABLE PURPOSE | $6,279 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $15 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thomas Jefferson Foundation Inc Charlottesville, VA | $395,493,786 | $54,038,606 |
Navy Seal Foundation Inc Virginia Beach, VA | $115,540,390 | $24,207,052 |
Lorraine Civil Rights Museum Foundation Memphis, TN | $35,843,207 | $14,748,460 |
The National Museum Of African American Music Nashville, TN | $43,131,276 | $9,233,015 |
Shakertown At Pleasant Hill Kentucky Inc Harrodsburg, KY | $23,439,163 | $8,870,243 |
Montpelier Foundation Orange, VA | $32,791,745 | $7,244,660 |
North Carolina Transportation Museum Foundation Spencer, NC | $11,455,078 | $7,616,895 |
Old Salem Incorporated Winstonsalem, NC | $81,707,076 | $3,795,190 |
Society Of The Cincinnati Washington, DC | $28,928,587 | $7,746,929 |
Owsley Brown Frazier Historical Arms Museum Foundation Inc Louisville, KY | $43,112,750 | $4,338,107 |
American Civil War Museum Richmond, VA | $33,997,529 | $3,026,232 |
B & O Railroad Museum Baltimore, MD | $29,274,881 | $4,473,800 |