Fredericksburg Regional Alliance Inc
- Assets
- $602.1k
- Revenue
- $754.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Fredericksburg, VA
- Founding
- 08/2000
- Data as of
- 06/2023
- EIN
- 54-1961653
Organization Overview
Fredericksburg Regional Alliance Inc is located in Fredericksburg, VA. The organization was established in 2000. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Fredericksburg Regional Alliance Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fredericksburg Regional Alliance Inc 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, Fredericksburg Regional Alliance Inc generated $754.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $742.6k during the year ending 06/2023. While expenses have increased by 1.8% 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 ATTRACT AND MAINTAIN QUALITY PROFESSIONAL BUSINESS ORGANIZATIONS INTO THE AREA THROUGH VARIOUS PROMOTIONAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARKETING TO FREDERICKSBURG REGIONAL CORPORATE DECISION-MAKERS TO EXPAND OR RELOCATE THEIR COMPANIES. ATTENDANCE AT MARKETING AND TRADESHOWS TO MARKET THE REGION. ASSISTANCE TO EXISTING BUSINESSES AND INDUSTRIES WITH WORKFORCE DEVELOPMENT ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lloyd Harrison Chair | OfficerTrustee | 1 | $0 |
Charles Payne Jr Vice Chair | OfficerTrustee | 1 | $0 |
Dr Tim O'donnell Treasurer | OfficerTrustee | 1 | $0 |
Dr Janet Gullickson Secretary | OfficerTrustee | 1 | $0 |
Margaret Hardy General Coun | OfficerTrustee | 1 | $0 |
Floyd Thomas Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $367,825 |
| All other contributions, gifts, grants, and similar amounts not included above | $383,574 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $751,399 |
| Total Program Service Revenue | $0 |
| Investment income | $1,888 |
| 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 | $754,104 |
| 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. | $258,125 |
| Compensation of current officers, directors, key employees. | $82,904 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $170,127 |
| Pension plan accruals and contributions | $27,974 |
| Other employee benefits | $7,477 |
| Payroll taxes | $28,410 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $350 |
| Fees for services: Accounting | $10,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,129 |
| Advertising and promotion | $140,249 |
| Office expenses | $937 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,489 |
| Travel | $5,188 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,110 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,290 |
| Insurance | $1,746 |
| All other expenses | $891 |
| Total functional expenses | $742,638 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $198,066 |
| Savings and temporary cash investments | $311,848 |
| Pledges and grants receivable | $90,188 |
| 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 | $367 |
| Net Land, buildings, and equipment | $1,644 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $602,113 |
| Accounts payable and accrued expenses | $44,268 |
| 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 | $143,211 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $187,479 |
| Net assets without donor restrictions | $291,446 |
| Net assets with donor restrictions | $123,188 |
| 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 | $602,113 |