Virginia Foundation For Public Media
- Assets
- $158.9m
- Revenue
- $8.0m
- Investments
- $34.1m
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 09/2018
- Data as of
- 06/2022
- EIN
- 82-2118572
Organization Overview
Virginia Foundation For Public Media is located in Richmond, VA. The organization was established in 2018. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Foundation For Public Media 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 06/2022, Virginia Foundation For Public Media generated $8.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (45.1%) each year. All expenses for the organization totaled $10.8m during the year ending 06/2022. 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 FOUNDATION OPERATES AS A "SUPPORTING ORGANIZATION" BY PROVIDING FUNDING TO SUPPORT THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF VPM MEDIA CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION OPERATES AS A "SUPPORTING ORGANIZATION" BY PROVIDING FUNDING TO SUPPORT THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF VPM MEDIA CORPORATION, A VIRGINIA NONSTOCK CORPORATION AND A PUBLICLY SUPPORTED ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3), 509(A)(1), AND 170(B)(1)(A)(VI) OF THE INTERNAL REVENUE CODE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lu Alvarez Director | Trustee | 1 | $0 |
Cynthia Bailey Director | Trustee | 1 | $0 |
Michael Bisceglia Director | Trustee | 1 | $0 |
Rich Diemer Director | Trustee | 1 | $0 |
Louise Martin Director | Trustee | 1 | $0 |
Karen Skidmore Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
University Of Virginia Office Of Sponso Production Services | 6/29/20 | $224,602 |
David Ern Development Consultant Services | 6/29/20 | $151,373 |
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 | $0 |
| Investment income | $2,883,311 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,136,153 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,019,464 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,512,016 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $120 |
| Fees for services: Accounting | $44,364 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $54,224 |
| Fees for services: Other | $87,792 |
| Advertising and promotion | $0 |
| Office expenses | $1,110 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,922 |
| Travel | $2,953 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,922 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,054 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $10,771,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,379 |
| Savings and temporary cash investments | $6,415,548 |
| 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 | $1,518 |
| Investments—publicly traded securities | $118,112,339 |
| Investments—other securities | $34,145,772 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $77,950 |
| Total assets | $158,897,506 |
| Accounts payable and accrued expenses | $23,666 |
| Grants payable | $157,239 |
| 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 | $180,905 |
| Net assets without donor restrictions | $158,716,601 |
| 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 | $158,897,506 |
Grants Awarded
Over the last fiscal year, Virginia Foundation For Public Media has awarded $3,758,901 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TOM TOM FOUNDATION PURPOSE: MARKET, RECORD AND STREAM EVENT ACTIVITIES TO A WIDER PUBLIC | $60,620 |
VPM (FKA COMMONWEALTH PUBLIC BROADCASTING) PURPOSE: TO ADVANCE THE ORGANIZATION'S PURPOSE AS A PUBLIC MEDIA OUTLET | $3,698,281 |