Portsmouth Partnership Inc

Organization Overview

Portsmouth Partnership Inc is located in Portsmouth, VA. The organization was established in 1966. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Portsmouth Partnership 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, Portsmouth Partnership Inc generated $353.7k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.6% each year . All expenses for the organization totaled $354.9k during the year ending 12/2022. While expenses have increased by 15.7% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO STIMULATE INTEREST IN THE INDUSTRIAL AND ECONOMIC DEVELOPMENT OF THE CITY OF PORTSMOUTH, VIRGINIA. TO ASSIST, IMPROVE AND DEVELOP EXISTING INDUSTRIES AND TO ASSIST PROSPECTIVE INDUSTRIES' ACQUISITION OF LAND AND BUILDINGS FOR THEIR OPERATION WITHIN THE CITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO STIMULATE INTEREST IN THE INDUSTRIAL AND ECONOMIC DEVELOPMENT OF THE CITY OF PORTSMOUTH VIRGINIA, AND TO ASSIST, IMPROVE, AND DEVELOP EXISTING INDUSTRIES, AND TO ASSIST PROSPECTIVE INDUSTRIES ACQUISITION OF LAND AND BUILDINGS FOR THEIR OPERATION WITHIN THE CITY.


BLOOM COWORKING PROVIDES SPACE AND WRAP AROUND SERVICES TARGETING LMI MINORITY OWNED BUSINESSES. BLOOM HELPS STABILIZE AND GROW STARTUPS AND SMALL BUSINESS IN PORTSMOUTH VIRGINIA AND THE HAMPTON ROADS REGION.


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Board, Officers & Key Employees

Name (title)Compensation
Dr Johnny Garcia
President
$0
Max Greenhood
1st Vice Pre
$0
Ashton Lewis Jr
Treasurer
$0
Seth B Royster
Secretary
$0
Michelle Wren
Executive Di
$0
G Robert Aston Jr
Trustee/dire
$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$2,600
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,600
Total Program Service Revenue$301,155
Investment income $40,489
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 $353,707

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