Virginia Project Inc
- Assets
- $1.3m
- Revenue
- $211.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Bath, ME
- Founding
- 07/1998
- Data as of
- 12/2021
- EIN
- 04-3364532
Organization Overview
Virginia Project Inc is located in Bath, ME. The organization was established in 1998. According to its NTEE Classification (A84) the organization is classified as: Commemorative Events, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Virginia Project Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Project 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 12/2021, Virginia Project Inc generated $211.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $88.6k during the year ending 12/2021. While expenses have increased by 10.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RECONSTRUCTION OF 1607 PINNACE VIRGINIA OF SAGADAHOC
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECONSTRUCTION OF 1607 PINNACE VIRIGINIA OF SAGADAHOC AND PROMOTION OF THE HISTORY OF MAINE'S FIRST ENGLISH SETTLEMENT AND EARLY SHIPBUILDING HERITAGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allison Hepler Secretary | OfficerTrustee | 2 | $0 |
Orman Hines President | OfficerTrustee | 20 | $0 |
Lori Benson Vice President | OfficerTrustee | 12 | $0 |
Jeremy Blaiklock Vice President | OfficerTrustee | 12 | $0 |
Merrill Chapin Director | Trustee | 1 | $0 |
Daniel Wood Director | Trustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,160 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $181,908 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $183,068 |
| Total Program Service Revenue | $212 |
| Investment income | $7,718 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,093 |
| Net Gain/Loss on Asset Sales | $8,572 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $211,663 |
| 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 | $26,340 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,010 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,105 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,736 |
| Fees for services: Other | $0 |
| Advertising and promotion | $949 |
| Office expenses | $515 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,177 |
| Travel | $75 |
| 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 | $7,896 |
| Insurance | $10,198 |
| All other expenses | $6,580 |
| Total functional expenses | $88,565 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $173,170 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,532 |
| 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 | $5,804 |
| Prepaid expenses and deferred charges | $580 |
| Net Land, buildings, and equipment | $128,406 |
| Investments—publicly traded securities | $433,432 |
| Investments—other securities | $0 |
| Investments—program-related | $540,144 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,285,068 |
| Accounts payable and accrued expenses | $2,233 |
| 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 | $2,233 |
| 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 | $1,282,835 |
| Total liabilities and net assets/fund balances | $1,285,068 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Virginia Project Inc has recieved totaling $30,000.
| Awarding Organization | Amount |
|---|---|
Mildred H Mcevoy Foundation Worcester, MA PURPOSE: UPGRADES TO THE SHIP | $20,000 |
Davis Family Foundation Yarmouth, ME PURPOSE: Virginia Pre-Commissioning Package | $10,000 |
Endowment Analysis
| Beg. Balance | $175,000 |
| Ending Balance | $175,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lynx Educational Foundation Newmarket, NH | $220,437 | $608,723 |
Virginia Project Inc Bath, ME | $1,285,068 | $211,663 |
Winslow Family Fourth Of July Committee Winslow, ME | $3,308 | $0 |
Halee Lyn Cummings Memorial Race Sidney, ME | $0 | $28,546 |
Hallowell Centennial Burial Ground Assn Inc Hallowell, ME | $809,584 | $194,001 |