Rva Sports Foundation Inc
- Assets
- $2.9m
- Revenue
- $750.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 10/2019
- Data as of
- 12/2023
- EIN
- 83-3436812
Organization Overview
Rva Sports Foundation Inc is located in Richmond, VA. The organization was established in 2019. According to its NTEE Classification (N12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rva Sports Foundation Inc 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 12/2023, Rva Sports Foundation Inc generated $750.0k in total revenue. All expenses for the organization totaled $1.0m during the year ending 12/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
RVA SPORTS FOUNDATION HAS A DUAL PURPOSE TO REHABILITATE AND REFURBISH AN AGING, STADIUM IN THE HEART OF RICHMOND, VIRGINIA (RVA) WHILE ALSO SERVING THE SPECIAL NEEDS SOCCER COMMUNITY BY RUNNING THE RVACCESS PROGRAM WHICH SERVES KIDS FROM AGES 5- 19 AROUND CENTRAL VIRGINIA. OUR GOAL IS TO PROVIDE A CENTRAL HUB FOR THE RICHMOND METROPOLITAN REGION TO COME AND CELEBRATE OUR GREAT CITY THROUGH A MULTITUDE OF EVENTS AND FESTIVALS AT CITY STADIUM.RVA SPORTS IS RUN BY VOLUNTEERS WITH THE ASSISTANCE OF AN EXPERIENCED PROGRAM DIRECTOR TO RUN RVACCESS. THE REHABILITATION OF CITY STADIUM WILL BE HAPPENING YEAR ROUND AND OVER THE NEXT 40 YEARS. RVACCESS IS A PROGRAM THAT TRADITIONALLY RUNS IN THE SPRING AND FALL, UTILIZING CITY STADIUM AND OTHER VENUES AROUND THE METROPOLITAN AREA. WE AIM TO RUN MORE SESSIONS AT CITY STADIUM BECAUSE OF THE CENTRAL LOCATION AND IMPACT FOR FAMILIES IN THE CITY. CITY STADIUM IS OWNED BY THE CITY OF RICHMOND, VA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MAIN FOCUS OF THE ORGANIZATION IS THE REVITALIZATION OF CITY STADIUM.
TO FACILITATE DONOR ACTIVITIES THAT SUPPORT THE ORGANIZATION'S MISSION TO MAKE A DIFFERENCE IN A CHILD'S LIFE BY PROVIDING RVACCESS TO PLAYERS THROUGHOUT THE GREATER RICHMOND AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Gregory President & Director | OfficerTrustee | 5 | $0 |
Shepherd Lewis Secretary & Director | OfficerTrustee | 5 | $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 | $62,955 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $62,955 |
| Total Program Service Revenue | $0 |
| Investment income | $5 |
| 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 | $687,089 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $750,049 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $14,202 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $222,296 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $128,131 |
| Insurance | $19,207 |
| All other expenses | $20,945 |
| Total functional expenses | $1,030,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,365 |
| Savings and temporary cash investments | $0 |
| 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 | $1,706,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $15,474 |
| Other assets | $1,153,941 |
| Total assets | $2,892,780 |
| Accounts payable and accrued expenses | $622,500 |
| 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 | $2,198,767 |
| Total liabilities | $2,821,267 |
| Net assets without donor restrictions | $71,513 |
| 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 | $2,892,780 |