Beans And Rice Inc
- Assets
- $757.9k
- Revenue
- $177.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Radford, VA
- Founding
- 01/1998
- Data as of
- 06/2023
- EIN
- 54-1851247
Organization Overview
Beans And Rice Inc is located in Radford, VA. The organization was established in 1998. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 06/2023, Beans And Rice Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beans And Rice 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, Beans And Rice Inc generated $177.1k 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 (13.5%) each year. All expenses for the organization totaled $177.0k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (11.5%) per year over the past 7 years. 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 ASSIST IN GROWING CAPACITIES AND ASSETS IN LOW TO MODERATE INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS INCLUDE ASSET GROWTH INITIATIVES AND CAPACITY DEVELOPMENT OPPORTUNITIES FOR LOW TO MODERATE INCOME FAMILIES THROUGH COMMUNITY LEARNING CENTERS LOCATED IN THE NEW RIVER VALLEY OF VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Spiegel Executive Director | Officer | 40 | $40,897 |
Lora Gordon Board Member | Trustee | 1 | $0 |
Timothy Goff Board Member | Trustee | 2 | $0 |
Sally Warburton Board Member | Trustee | 1 | $0 |
Serena Moore Board Member | Trustee | 2 | $0 |
Vicky Collins Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $20,235 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $49,320 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,416 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,971 |
| Total Program Service Revenue | $57,250 |
| Investment income | $1,488 |
| 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 | -$1,962 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $177,062 |
| 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. | $33,846 |
| Compensation of current officers, directors, key employees. | $33,846 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,460 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,724 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,901 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $365 |
| Advertising and promotion | $668 |
| Office expenses | $18,270 |
| Information technology | $589 |
| Royalties | $0 |
| Occupancy | $30,938 |
| Travel | $454 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $25 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $57,569 |
| Insurance | $4,140 |
| All other expenses | $506 |
| Total functional expenses | $176,980 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,601 |
| Savings and temporary cash investments | $134,242 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,964 |
| 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 | $7,278 |
| Net Land, buildings, and equipment | $382,848 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $757,933 |
| Accounts payable and accrued expenses | $749 |
| Grants payable | $0 |
| Deferred revenue | $48 |
| 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 | $128,379 |
| Unsecured mortgages and notes payable | $146,695 |
| Other liabilities | $190,446 |
| Total liabilities | $466,317 |
| Net assets without donor restrictions | $91,143 |
| Net assets with donor restrictions | $200,473 |
| 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 | $757,933 |