Centralized Credentials Verification Service Inc
- Assets
- $1.3m
- Revenue
- $791.4k
- Investments
- $0.0
- Employees
- 14
- Location
- Richmond, VA
- Founding
- 02/2001
- Data as of
- 12/2021
- EIN
- 54-2004980
Organization Overview
Centralized Credentials Verification Service Inc is located in Richmond, VA. The organization was established in 2001. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Centralized Credentials Verification Service Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Centralized Credentials Verification Service 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 12/2021, Centralized Credentials Verification Service Inc generated $791.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $825.6k during the year ending 12/2021. While expenses have increased by 1.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CENTRALIZED CREDENTIALING
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE CENTRALIZED CREDENTIALING PRIMARILY TO STATEWIDE ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Freeman MD President | OfficerTrustee | 1 | $0 |
Lucien Roberts Vice President | OfficerTrustee | 1 | $0 |
Thomas L Moffatt MD Secretary/treasurer | OfficerTrustee | 1 | $0 |
George Greenfield Pa Immediate Past President | OfficerTrustee | 1 | $0 |
James Beckner Ex. Dir.-Ram, Ccvs, An, Sc | Officer | 7 | $0 |
Kevin Barger Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $535,646 |
| Investment income | $7,228 |
| 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 | $791,367 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $353,601 |
| Pension plan accruals and contributions | $3,316 |
| Other employee benefits | $67,411 |
| Payroll taxes | $33,994 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,021 |
| Fees for services: Accounting | $6,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,557 |
| Fees for services: Other | $3,483 |
| Advertising and promotion | $300 |
| Office expenses | $39,381 |
| Information technology | $6,295 |
| Royalties | $0 |
| Occupancy | $58,020 |
| Travel | $51 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,191 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,113 |
| Insurance | $9,267 |
| All other expenses | $17,146 |
| Total functional expenses | $825,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12 |
| Savings and temporary cash investments | $615,756 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $162,298 |
| 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 | $37,346 |
| Net Land, buildings, and equipment | $12,273 |
| Investments—publicly traded securities | $429,864 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,257,549 |
| Accounts payable and accrued expenses | $16,360 |
| Grants payable | $0 |
| Deferred revenue | $125,725 |
| 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 | $0 |
| Total liabilities | $142,085 |
| Net assets without donor restrictions | $1,115,464 |
| Net assets with donor restrictions | $0 |
| 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 | $1,257,549 |
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