Virginia Real Estate Education Foundation
- Assets
- $109.9k
- Revenue
- $54.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Glen Allen, VA
- Founding
- Data as of
- 12/2016
- EIN
- 23-7046460
Organization Overview
Virginia Real Estate Education Foundation is located in Glen Allen, VA. Virginia Real Estate Education 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 12/2016, Virginia Real Estate Education Foundation generated $54.7k in total revenue. All expenses for the organization totaled $199.1k during the year ending 12/2016.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2016
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION WAS ORGANIZED TO PROMOTE A STUDY OF REAL ESTATE AND PROMOTE SUITABLE STANDARDS OF EDUCATION IN VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS VARIOUS REAL ESTATE EDUCATIONAL PROGRAMS AND ACTIVITIES THROUGH THE ISSUANCE OF GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William White Jr President | OfficerTrustee | 1 | $0 |
Claire Forcier-Rowe President-Elect | OfficerTrustee | 1 | $0 |
Jay Mitchell Vice President | OfficerTrustee | 1 | $0 |
Patricia Sury Treasurer | OfficerTrustee | 1 | $0 |
Deborah Baisden Immediate Past President | OfficerTrustee | 1 | $0 |
Rick Lugg Staff Liaison | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $3,585 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $51,115 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $54,700 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $196,910 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $205 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $199,115 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,943 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $109,943 |
| 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 | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $109,943 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $109,943 |
Grants Awarded
Over the last fiscal year, Virginia Real Estate Education Foundation has awarded $163,800 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
NORTHERN VIRGINIA ASSOCIATION OF REALTORS PURPOSE: SUPPORT EDUCATIONAL REAL ESTATE PROGRAMS AND ACTIVITIES | $64,540 |
RICHMOND ASSOCIATION OF REALTORS PURPOSE: SUPPORT EDUCATIONAL REAL ESTATE PROGRAMS AND ACTIVITIES | $23,520 |
Chesapeake, VA PURPOSE: SUPPORT EDUCATIONAL REAL ESTATE PROGRAMS AND ACTIVITIES | $18,730 |
VIRGINIA ASSOCIATION OF REALTORS PURPOSE: SUPPORT EDUCATIONAL REAL ESTATE PROGRAMS AND ACTIVITIES | $13,500 |
PRINCE WILLIAM ASSOCIATION OF REALTORS PURPOSE: SUPPORT EDUCATIONAL REAL ESTATE PROGRAMS AND ACTIVITIES | $10,210 |
FREDERICKSBURG AREA ASSOCIATION OF REALTORS PURPOSE: SUPPORT EDUCATIONAL REAL ESTATE PROGRAMS AND ACTIVITIES | $8,410 |
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