Central Virginia Partnership For Economic Development
- Assets
- $779.9k
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 17
- Location
- Charlottesville, VA
- Founding
- 04/1996
- Data as of
- 06/2023
- EIN
- 54-1788499
Organization Overview
Central Virginia Partnership For Economic Development is located in Charlottesville, VA. The organization was established in 1996. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Central Virginia Partnership For Economic Development employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Virginia Partnership For Economic Development 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 06/2023, Central Virginia Partnership For Economic Development generated $2.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $2.6m during the year ending 06/2023. While expenses have increased by 3.7% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC DEVELOPMENT IN THE CHARLOTTESVILLE AND CENTRAL VIRGINIA REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CENTRAL VIRGINIA PARTNERSHIP FOR ECONOMIC DEVELOPMENT: THE PARTNERSHIP IS DESIGNED TO BRING TOGETHER BUSINESS, GOVERNMENT, AND EDUCATION TO PROMOTE NEW INVESTMENT AND JOB CREATION IN THE CHARLOTTESVILLE AND CENTRAL VIRGINIA REGION IN ACCORDANCE WITH THE OBJECTIVES OF ITS MEMBERS.
VIRGINIA CAREER WORKS - PIEDMONT REGION: VCW HAS THE CENTRAL ROLE OF PROVIDING LEADERSHIP AND DIRECTION ON LOCAL STRATEGIC WORKFORCE ISSUES, IDENTIFYING LOCAL NEEDS AND DEVELOPING STRATEGIES TO ADDRESS THOSE NEEDS. THE BOARD IS RESPONSIBLE FOR THE OVERSIGHT AND ADMINISTRATION OF THE WORKFORCE INNOVATION AND OPPORTUNITY ACT (WIOA) PROGRAMS IN THE CENTRAL VIRGINIA REGION. THESE PROGRAMS ARE DESIGNED TO HELP JOB SEEKERS ACCESS EMPLOYMENT, EDUCATION, TRAINING, AND SUPPORT SERVICES TO SUCCEED IN THE LABOR MARKET AND TO MATCH EMPLOYERS WITH THE SKILLED WORKERS THEY NEED TO COMPETE IN THE GLOBAL ECONOMY.
GO VIRGINIA REGIONAL COUNCIL 9: BIPARTISAN, BUSINESS-LED FRAMEWORK FOR STRENGTHENING THE ECONOMY IN THE REGION THROUGH ENHANCED COLLABORATION BY BUSINESS, EDUCATION AND LOCAL GOVERNMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felicia Ainsa Director | Trustee | 2 | $0 |
Rita Bunch Director | Trustee | 2 | $0 |
Brian Craddock Director | Trustee | 2 | $0 |
Melinda Crawford Chair | OfficerTrustee | 2 | $0 |
Gizelle Curtis Director | Trustee | 2 | $0 |
Eric Dahl Treasurer/secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $317,759 |
| Fundraising events | $0 |
| Related organizations | $52,886 |
| Government grants | $2,071,842 |
| All other contributions, gifts, grants, and similar amounts not included above | $115,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,558,137 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,558,137 |
| 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. | $181,126 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,048,455 |
| Pension plan accruals and contributions | $31,639 |
| Other employee benefits | $217,221 |
| Payroll taxes | $40,231 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $160,525 |
| Advertising and promotion | $0 |
| Office expenses | $74,915 |
| Information technology | $8,044 |
| Royalties | $0 |
| Occupancy | $84,582 |
| Travel | $29,176 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,623 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,829 |
| Insurance | $4,744 |
| All other expenses | $30 |
| Total functional expenses | $2,565,140 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $372,859 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $323,836 |
| Accounts receivable, net | $42,896 |
| 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 | $9,929 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,401 |
| Total assets | $779,921 |
| Accounts payable and accrued expenses | $155,801 |
| 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 | $227,985 |
| Total liabilities | $383,786 |
| Net assets without donor restrictions | $390,203 |
| Net assets with donor restrictions | $5,932 |
| 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 | $779,921 |