The Virtue Foundation
- Assets
- $5.2m
- Revenue
- $2.1m
- Investments
- $122.8k
- Employees
- 3
- Location
- New York, NY
- Founding
- 04/2003
- Data as of
- 12/2021
- EIN
- 56-2289262
Organization Overview
The Virtue Foundation is located in New York, NY. The organization was established in 2003. According to its NTEE Classification (W20) the organization is classified as: Government & Public Administration, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Virtue Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virtue Foundation 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 12/2021, Virtue Foundation generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.0% each year . All expenses for the organization totaled $499.7k during the year ending 12/2021. While expenses have increased by 9.7% 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
THE FOUNDATION'S MISSION IS TO INCREASE AWARENESS OF PREVALENT GLOBAL ISSUES, TO INSPIRE PEOPLE TO ACTION AND TO RENDER HUMANITARIAN ASSISTANCE THROUGH HEALTHCARE, EDUCATION AND EMPOWERMENT INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DATA MAPPING FOR GOOD DUN & BRADSTREET AND VIRTUE FOUNDATION PARTNER TO IMPROVE ACCESS TO MEDICAL CARE IN DEVELOPING COUNTRIES. THE VIRTUE FOUNDATION DATA MAPPING INITIATIVE IS A FORWARD-THINKING TECHNOLOGY PLATFORM THAT SEEKS TO CREATE A MORE EFFICIENT MARKETPLACE FOR THE DELIVERY OF HEALTHCARE IN UNDER-SERVED REGIONS OF THE WORLD. BORN OF YEARS OF ON THE GROUND MEDICAL MISSIONS, THE PLATFORM LEVERAGES PREDICTIVE ANALYTICS AND MACHINE LEARNING ALGORITHMS TO ANALYZE GEOSPATIAL DATA, INFRASTRUCTURE, RISK FACTORS, AND OTHER ENVIRONMENTAL CONDITIONS TO BETTER PREDICT NEED AND MATCH AVAILABLE RESOURCES. THROUGH A SIMPLE AND FREE USER INTERFACE, THE PLATFORM SEEKS TO PROVIDE INDIVIDUALS, NON-PROFITS, GOVERNMENTS, AND COMPANIES WITH MORE EFFICIENT ACCESS TO THE DATA NEEDED TO HELP MAKE CRITICAL DECISIONS ON HOW TO MOST EFFICIENTLY ALLOCATE RESOURCES FOR GREATEST IMPACT.
VIRTUE FOUNDATION PROVIDES MEDICAL AND EDUCATIONAL ASSISTANCE IN MONGOLIA TO FAMILIES WITH MEDICALLY CHALLENEGED CHILDREN.
VIRTUE FOUNDATION HAS SET UP A TWO PRONG APPROACH TO ADVANCING GENERAL HEALTH IN DEVELOPING COUNTRIES SUCH AS MONGOLIA AND GHANA. MEDICAL PERSONNEL TRAVEL TO THE RURAL AREAS TO PROVIDE MUCH- NEEDED MEDICAL ASSISTANCE TO THE INHABITANTS IN ADDITION TO PROVIDING THE ACTUAL EQUIPMENT AND MEDICAL TRAINING SO THAT THE MEDICAL ASSISTANCE CAN BE SUSTAINED LONG-TERM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shahpari Nazeri DDS Treasurer | OfficerTrustee | $0 | |
Joseph Salim DMD Executive Di | OfficerTrustee | $0 | |
Joan Larovere MD Secretary | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $30,345 |
| All other contributions, gifts, grants, and similar amounts not included above | $359,253 |
| Noncash contributions included in lines 1a–1f | $49,877 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $389,598 |
| Total Program Service Revenue | $0 |
| Investment income | $6,169 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,712,554 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,108,321 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,229 |
| 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 | $120,125 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,838 |
| Payroll taxes | $9,780 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,704 |
| Fees for services: Accounting | $13,442 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,000 |
| Advertising and promotion | $5,670 |
| Office expenses | $1,507 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,725 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,370 |
| Insurance | $3,371 |
| All other expenses | $19,029 |
| Total functional expenses | $499,677 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $155,253 |
| Savings and temporary cash investments | $95,034 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $373,601 |
| Investments—publicly traded securities | $4,444,598 |
| Investments—other securities | $122,842 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,191,328 |
| Accounts payable and accrued expenses | $0 |
| 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 | $13,693 |
| Total liabilities | $13,693 |
| Net assets without donor restrictions | $5,177,635 |
| 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 | $5,191,328 |
Grants Awarded
Over the last fiscal year, The Virtue Foundation has awarded $51,031 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
HAGAR USA INC | | | $17,031 |
New York, NY | | $14,000 |
New York, NY | | $10,000 |
New York, NY | | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Virtue Foundation has recieved totaling $18,715.
| Awarding Organization | Amount |
|---|---|
Nina W Werblow Charitable Trust New York, NY PURPOSE: UNRESTRICTED CHARITABLE PURPOSES | $10,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $8,426 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $289 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Island Peer Review Organization Inc New Hyde Park, NY | $59,283,462 | $69,591,386 |
Pennsylvania Division Horsemens Grantville, PA | $19,157,868 | $39,543,459 |
Manhattan Institute For Policy Research Inc New York, NY | $22,398,458 | $16,694,868 |
National Action Network Inc New York, NY | $4,012,343 | $7,322,289 |
Pittsburgh Allegheny County Thermal Ltd Pittsburgh, PA | $6,178,022 | $5,299,602 |
Volcker Alliance Inc New York, NY | $23,661,694 | $7,640,617 |
The Benefit Shop Foundation Inc Mount Kisco, NY | $1,028,853 | $3,629,691 |
Niagara Tobacco Asset Securitization Corp Lockport, NY | $6,699,671 | $3,919,268 |
Westmoreland County Federated Library System Greensburg, PA | $973,744 | $1,953,407 |
New Bedford Economic Development Council Inc New Bedford, MA | $5,015,436 | $2,421,458 |
Center For Governmental Research Inc Rochester, NY | $3,854,198 | $1,664,483 |
Town Hall Annex Corporation Greenwich, CT | $11,907,632 | $1,297,065 |