Danville Regional Foundation
- Assets
- $247.5m
- Revenue
- $26.1m
- Investments
- $232.6m
- Employees
- 0
- Location
- Danville, VA
- Founding
- 09/2006
- Data as of
- 12/2022
- EIN
- 20-3319727
Organization Overview
Danville Regional Foundation is located in Danville, VA. The organization was established in 2006. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Danville Regional 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 12/2022, Danville Regional Foundation generated $26.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 24.8% each year . All expenses for the organization totaled $14.8m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Danville Regional Foundation has awarded 192 individual grants totaling $79,509,045. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clark Casteel President & CEO | 40 | $260,000 | |
Jon C Sells Treasurer & CFO | 40 | $131,016 | |
Greg Hairston Chair | 1 | $0 | |
Alexis I Ehrhardt Vice Chair | 1 | $0 | |
Shirley Jo Hite Secretary | 35 | $66,446 | |
Carolyn Evans Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wedge Capital Management | 12/30/22 | $149,194 |
Downtown Danville Development Llc | 12/30/22 | $288,617 |
Advisory Research Inc | 12/30/22 | $146,082 |
Richmond Capital | 12/30/22 | $98,047 |
Tsne Mission Works | 12/30/22 | $88,880 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $13,061,797 |
| Interest on Savings | $163,275 |
| Dividends & Interest | $4,036,788 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,497,418 |
| Capital Gain Net Income | $21,559,215 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $339,899 |
| Total Revenue | $26,099,177 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $574,243 |
| Other employee salaries and wages | $619,270 |
| Pension plans, employee benefits | $160,711 |
| Interest | $45,737 |
| Taxes | $484,277 |
| Depreciation | $66,389 |
| Occupancy | $107,793 |
| Travel, conferences, and meetings | $58,917 |
| Printing and publications | $0 |
| Other expenses | $261,836 |
| Total operating and administrative expenses | $4,410,669 |
| Contributions, gifts, grants paid | $10,341,929 |
| Total expenses and disbursements | $14,752,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $812,018 |
| Savings and temporary cash investments | $12,924,553 |
| Net Accounts receivable | $17,907 |
| 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 | $272,468 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $149,860,424 |
| Net Land, buildings, and equipment | $476,111 |
| Other assets | $363,747 |
| Total assets | $247,460,504 |
| Accounts payable and accrued expenses | $1,044,888 |
| Grants payable | $17,911,179 |
| Deferred revenue | $129,222 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $984,113 |
| Other liabilities | $438,702 |
| Total liabilities | $20,508,104 |
Grants Awarded
Over the last fiscal year, Danville Regional Foundation has awarded $34,080,414 in support to 72 organizations.
| Grant Recipient | Amount |
|---|---|
AVERETT UNIVERSITY PURPOSE: AU ONLINE | $1,872,500 |
AVERETT UNIVERSITY PURPOSE: CCEC | $392,856 |
BEULAH MISSIONARY BAPTIST CHURCH PURPOSE: MAKE MORE HAPPEN | $25,000 |
BIG BROTHERS BIG SISTERS PURPOSE: CAPACITY GRANT | $25,000 |
BLUE RIDGE MOUNTAINS BOY SCOUTS PURPOSE: CAPACITY GRANT | $25,000 |
CARDINAL NEWS PURPOSE: NEW REPORTER | $100,000 |