George W Verlander And Cornelia M Verlander Memorial Foundation
- Assets
- $7.7m
- Revenue
- $674.4k
- Investments
- $7.6m
- Employees
- 0
- Location
- Irvington, VA
- Founding
- 06/2009
- Data as of
- 12/2023
- EIN
- 20-0482028
Organization Overview
George W Verlander And Cornelia M Verlander Memorial Foundation is located in Irvington, VA. The organization was established in 2009. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. George W Verlander And Cornelia M Verlander Memorial Foundation 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, George W Verlander And Cornelia M Verlander Memorial Foundation generated $674.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $776.6k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, George W Verlander And Cornelia M Verlander Memorial Foundation has awarded 99 individual grants totaling $3,996,663. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Graham H Neal Jr Pres./treas. | 20 | $68,000 | |
H Murrell Mcleod Secretary | 2 | $4,000 | |
H Scott Neal Vice Pres. | 2 | $4,000 | |
Weymouth L Mcleod Board Member | 2 | $3,000 | |
James Butts Board Member | 2 | $4,000 | |
Nickolas Neal Board Member | 2 | $4,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $25,238 |
| Dividends & Interest | $235,128 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $414,022 |
| Capital Gain Net Income | $414,022 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $674,388 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $87,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,663 |
| Depreciation | $0 |
| Occupancy | $19,969 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,201 |
| Total operating and administrative expenses | $250,551 |
| Contributions, gifts, grants paid | $526,000 |
| Total expenses and disbursements | $776,551 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,007 |
| Savings and temporary cash investments | $80,343 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,700,104 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $5,100 |
| Total liabilities | $5,100 |
Grants Awarded
Over the last fiscal year, George W Verlander And Cornelia M Verlander Memorial Foundation has awarded $526,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
JAMES MADISON UNIVERSITY PURPOSE: EDUCATION | $30,000 |
CHRISTOPHER NEWPORT UN PURPOSE: EDUCATION | $25,000 |
OLD DOMINION UNIVERSITY PURPOSE: EDUCATION | $10,000 |
RADFORD UNIVERSITY PURPOSE: EDUCATION | $10,000 |
RAPPAHANNOCK COMMUNITY CO PURPOSE: EDUCATION | $125,000 |
SOWF FOUNDATION PURPOSE: EDUCATION | $11,000 |