Central Virginia Business Coalition
- Assets
- $850.2k
- Revenue
- $332.6k
- Investments
- $805.6k
- Employees
- 0
- Location
- Lynchburg, VA
- Founding
- Data as of
- 09/2023
- EIN
- 84-3642025
Organization Overview
Central Virginia Business Coalition is located in Lynchburg, VA. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, 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. Central Virginia Business Coalition 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 09/2023, Central Virginia Business Coalition generated $332.6k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $451.7k during the year ending 09/2023. While expenses have increased by 12.8% per year over the past 3 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE LOCALLY OWNED RETAIL ESTABLISHMENTS AND SERVICE PROVIDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CVBC OFFERS MEMBERSHIP AND OPERATES A PROGRAM TO PROMOTE GROWTH AND NETWORKING FOR SMALL BUSINESSES IN THE CENTRAL VIRGINIA AREA.
CVBA HOSTS A NUMBER OF COMMUNITY EVENTS SUCH AS BEDFORD CENTERFEST, WOMEN'S EMPOWER LEADSHIP AND WHERE'S WALDO - A CHILDRENS' SCAVENGER HUNT THROUGHOUT LOCAL SMALL BUSINESSES.
SPONSORSHIP OF EVENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W Bradley Weaver President/ Director | OfficerTrustee | 1 | $0 |
Danny Givens Vicec President/ Director | OfficerTrustee | 1 | $0 |
Marc A Schewel Treasurer/ Director | OfficerTrustee | 1 | $0 |
David Somers Director | Trustee | 1 | $0 |
Rayner V Snead Jr Director | Trustee | 1 | $0 |
Michael Bradford Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $31,734 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $163,470 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $195,204 |
| Total Program Service Revenue | $75,491 |
| Investment income | $26,611 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $35,267 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $332,573 |
| 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. | $90,677 |
| Compensation of current officers, directors, key employees. | $22,669 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $49,204 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $378 |
| Payroll taxes | $10,321 |
| Fees for services: Management | $10,949 |
| Fees for services: Legal | $300 |
| Fees for services: Accounting | $5,395 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,386 |
| Fees for services: Other | $0 |
| Advertising and promotion | $162,887 |
| Office expenses | $16,329 |
| Information technology | $10,009 |
| Royalties | $0 |
| Occupancy | $40,712 |
| Travel | $12,642 |
| 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 | $33 |
| Insurance | $2,697 |
| All other expenses | $1,361 |
| Total functional expenses | $451,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,084 |
| 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 | $1,313 |
| Net Land, buildings, and equipment | $1 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $805,565 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,250 |
| Total assets | $850,213 |
| 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 | $2,089 |
| Total liabilities | $2,089 |
| Net assets without donor restrictions | $848,124 |
| 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 | $850,213 |