Vma Inc
- Assets
- $131.4k
- Revenue
- $232.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Ormond Beach, FL
- Founding
- 06/1982
- Data as of
- 12/2022
- EIN
- 59-2119052
Organization Overview
Vma Inc is located in Ormond Beach, FL. The organization was established in 1982. 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, Vma Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vma 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, Vma Inc generated $232.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $262.0k during the year ending 12/2022. 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
THE PURPOSE OF THE VMA IS TO PROVIDE INFORMATION, EDUCATION, & NETWORKING OPPORTUNITIES FOR LOCAL MANUFACTURERS. IN ADDITION, THE ASSOCIATION HOLDS AN ANNUAL GOLF TOURNAMENT WHOSE FUNDS HELP SUPPORT STEM PROGRAMS IN ALL SCHOOLS AND COLLEGES IN THE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NETWORKING IN THE BUSINESS SECTOR. TWO PLANT TOURS & SHOWCASE PRODUCTS PRODUCED IN THE AREA (92 ATTENDEES). DURING 2021, THREE HUMAN RESOURCE DIVISION MEETINGS (44 ATTENDEES), AND TWO OPERATIONAL EXCELLENCE MEETINGS (19 ATTENDEES). IN ADDITION, THE ORGANIZATION HELD THREE ANNUAL EVENTS: AWARDS BANQUET (207 ATTENDEES), THE GOLF TOURNAMENT (330 ATTENDEES), AND THE ROBOT BRAWL (500 ATTENDEES). ROBOT BRAWL PITS STUDENT BUILT ROBOTS AGAINST EACH OTHER. MANUFACTURERS SPONSOR THE SCHOOLS. EVENT TAKES PLACE AT THE JACKIE ROBINSON BASEBALL FIELD. 13 SCHOOLS PARTICIPATED AND HAD 16 MANUFACTURER SPONSORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Artie Loeffler Chairman | OfficerTrustee | 1 | $0 |
Alush Garzon Director | Trustee | 1 | $0 |
Dana Anderson Director | Trustee | 1 | $0 |
Jim Maynard Director | Trustee | 1 | $0 |
Amy Monahan Director | Trustee | 1 | $0 |
Mike Sibley 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 | $5,863 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,863 |
| Total Program Service Revenue | $138,360 |
| Investment income | $17 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $88,032 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $232,625 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $54,485 |
| Grants and other assistance to domestic individuals. | $850 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,931 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,296 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,097 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,000 |
| Office expenses | $4,587 |
| Information technology | $11,301 |
| Royalties | $0 |
| Occupancy | $5,000 |
| Travel | $1,647 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,526 |
| Interest | $7 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,300 |
| All other expenses | $1,146 |
| Total functional expenses | $261,973 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,542 |
| Savings and temporary cash investments | $103,812 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $131,354 |
| Accounts payable and accrued expenses | $4,227 |
| 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 | $4,227 |
| Net assets without donor restrictions | $0 |
| 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 | $127,127 |
| Total liabilities and net assets/fund balances | $131,354 |
Grants Awarded
Over the last fiscal year, Vma Inc has awarded $14,147 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BURNS SCIENCE AND TECHNOLOGY CHARTER SCHOOL PURPOSE: TECHNOLOGY | $5,670 |
ELECTRONIC AWARDS INC PURPOSE: TECHNOLOGY | $8,477 |