Central Virginia Business Coalition
- Assets
- $1.3m
- Revenue
- $259.2k
- Investments
- $1.2m
- Employees
- 3
- Location
- Lynchburg, VA
- Founding
- Data as of
- 09/2021
- 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. As of 09/2021, Central Virginia Business Coalition employed 3 individuals. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Alto Executive Director | OfficerTrustee | 40 | $90,769 |
Dianne Erb Director Of Special Events | OfficerTrustee | 40 | $27,696 |
David A Somers President/ Director | OfficerTrustee | 1 | $0 |
Marc A Schewel Treasurer/ Director | OfficerTrustee | 1 | $0 |
Debbie M Montgomery Secretary | OfficerTrustee | 1 | $0 |
Danny Givens Vicec President/ Director | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $22,955 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $135,669 |
| Noncash contributions included in lines 1a–1f | $259 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $158,624 |
| Total Program Service Revenue | $22,210 |
| Investment income | $27,583 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $50,779 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $259,196 |
| 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. | $118,465 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,449 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,738 |
| Fees for services: Management | $8,902 |
| Fees for services: Legal | $4,593 |
| Fees for services: Accounting | $23,359 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $87,111 |
| Office expenses | $14,147 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,818 |
| Travel | $7,509 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $106 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $160 |
| Insurance | $2,575 |
| All other expenses | $275 |
| Total functional expenses | $314,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,029 |
| 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 | $2,390 |
| Net Land, buildings, and equipment | $99 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,228,105 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,264,623 |
| 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 | $3,776 |
| Total liabilities | $3,776 |
| Net assets without donor restrictions | $1,260,847 |
| 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 | $1,264,623 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Central Virginia Business Coalition has recieved totaling $88,996.
| Awarding Organization | Amount |
|---|---|
Retail Merchants Foundation Inc Lynchburg, VA PURPOSE: INVESTMENTS TO PROVIDE GRANTS | $88,996 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Soundexchange Inc Washington, DC | $739,346,856 | $68,696,516 |
Ltc Reinsurance Pcc Washington, DC | $2,201,458,175 | $98,451,933 |
Green Business Certification Inc Washington, DC | $85,505,548 | $44,270,395 |
Council Of Better Business Bureaus Inc Arlington, VA | $12,407,236 | $29,190,679 |
Alliance For Lifetime Income Washington, DC | $7,619,918 | $19,897,111 |
Ltc Reinsurance Pcc Washington, DC | $361,855,078 | $23,669,640 |
Urac Washington, DC | $81,439,201 | $26,248,621 |
Virginia Equine Alliance Warrenton, VA | $24,647,483 | $20,710,903 |
North American Meat Institute Washington, DC | $15,669,601 | $11,771,364 |
Yaplus Arlington, VA | $14,080,198 | $11,268,285 |
Structured Finance Industry Group Inc Washington, DC | $15,991,884 | $10,124,152 |
Virginia Utility Protection Service Inc Roanoke, VA | $16,444,690 | $8,907,059 |