George W Verlander And Cornelia M Verlander Memorial Foundation
- Assets
- $7.6m
- Revenue
- $1.4m
- Investments
- $7.5m
- Employees
- 0
- Location
- Irvington, VA
- Founding
- 06/2009
- Data as of
- 12/2021
- 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 12/2021, George W Verlander And Cornelia M Verlander Memorial Foundation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $651.2k during the year ending 12/2021. While expenses have increased by 1.0% 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.
Since 2016, George W Verlander And Cornelia M Verlander Memorial Foundation has awarded 65 individual grants totaling $2,612,113. 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. | 10 | $85,000 | |
H Murrell Mcleod Secretary | 2 | $5,000 | |
H Scott Neal Vice Pres. | 2 | $4,000 | |
Weymouth L Mcleod Board Member | 1 | $4,000 | |
Nickolas Neal Board Member | 1 | $4,000 | |
James Butts Board Member | 1 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $19,366 |
| Dividends & Interest | $253,445 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,126,716 |
| Capital Gain Net Income | $1,126,716 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $11,620 |
| Total Revenue | $1,411,147 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $104,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,756 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,873 |
| Total operating and administrative expenses | $226,165 |
| Contributions, gifts, grants paid | $425,000 |
| Total expenses and disbursements | $651,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,024 |
| Savings and temporary cash investments | $101,265 |
| 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 | $7,642,680 |
| 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 | $2,550 |
| Total liabilities | $2,550 |
Grants Awarded
Over the last fiscal year, George W Verlander And Cornelia M Verlander Memorial Foundation has awarded $425,000 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
WELLS FARGO 529 PLAN COLLEGE AMER PURPOSE: EDUCATION | $220,000 |
RAPPAHANNOCK COMMUNITY CO PURPOSE: EDUCATION | $100,000 |
Harrisonburg, VA PURPOSE: EDUCATION | $25,000 |
CHRISTOPHER NEWPORT UN PURPOSE: EDUCATION | $25,000 |
RADFORD UNIVERSITY PURPOSE: EDUCATION | $10,000 |
UNIVERSITY OF VIRGINIA PURPOSE: EDUCATION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Naval Academy Foundation Inc Annapolis, MD | $305,968,176 | $47,603,619 |
Umuc Ventures Inc Bethesda, MD | $44,098,237 | $47,696,802 |
The Malala Fund Washington, DC | $40,557,471 | $29,060,686 |
Transylvania Vocational Services Inc Brevard, NC | $52,218,118 | $34,183,028 |
Champions For Education Inc Charlotte, NC | $4,769,828 | $14,830,024 |
Campus Development Foundation Inc Chattanooga, TN | $70,898,605 | $12,373,348 |
Kentucky Educational Development Corporation Ashland, KY | $6,070,827 | $11,298,796 |
Building Hope Finance Washington, DC | $123,995,340 | $7,003,194 |
Nc State Engineering Foundation Inc Raleigh, NC | $172,988,383 | $18,412,442 |
Dc Public Education Fund Washington, DC | $19,324,284 | $7,024,090 |
St Christophers School Foundation Richmond, VA | $94,106,126 | $9,680,251 |
National Automatic Sprinkler 669 Va Education Fund Columbia, MD | $15,668,623 | $8,120,660 |