Centralized Credentials Verification Service Inc
- Assets
- $737.9k
- Revenue
- $311.6k
- Investments
- $0.0
- Employees
- 6
- Location
- Richmond, VA
- Founding
- 02/2001
- Data as of
- 12/2022
- 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 12/2022, Centralized Credentials Verification Service Inc employed 6 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 12/2022, Centralized Credentials Verification Service Inc generated $311.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.6%) each year. All expenses for the organization totaled $617.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 8 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
2022
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 Moffatt MD Secretary/treasurer | OfficerTrustee | 1 | $0 |
George Greenfield Pa Immediate Past President | OfficerTrustee | 1 | $0 |
Lisa Acquaye Cpcs Cpmsm Director | Trustee | 1 | $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 | $304,122 |
| Investment income | $7,507 |
| 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 | $311,629 |
| 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 | $237,496 |
| Pension plan accruals and contributions | $4,178 |
| Other employee benefits | $43,712 |
| Payroll taxes | $20,077 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,332 |
| Fees for services: Accounting | $1,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,261 |
| Fees for services: Other | $2,136 |
| Advertising and promotion | $0 |
| Office expenses | $35,255 |
| Information technology | $5,257 |
| Royalties | $0 |
| Occupancy | $52,132 |
| Travel | $11 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,438 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,728 |
| Insurance | $9,037 |
| All other expenses | $4,528 |
| Total functional expenses | $617,867 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12 |
| Savings and temporary cash investments | $352,724 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,599 |
| 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 | $17,689 |
| Net Land, buildings, and equipment | $6,544 |
| Investments—publicly traded securities | $351,324 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $737,892 |
| Accounts payable and accrued expenses | $9,730 |
| 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 | $0 |
| Total liabilities | $9,730 |
| Net assets without donor restrictions | $728,162 |
| 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 | $737,892 |