Kovar Corporation
- Assets
- $2.8m
- Revenue
- $593.9k
- Investments
- $120.0k
- Employees
- 0
- Location
- Woodbridge, VA
- Founding
- 04/1983
- Data as of
- 06/2022
- EIN
- 23-7337216
Organization Overview
Kovar Corporation is located in Woodbridge, VA. The organization was established in 1983. According to its NTEE Classification (P82) the organization is classified as: Developmentally Disabled Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kovar Corporation 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 06/2022, Kovar Corporation generated $593.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $395.2k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Kovar Corporation has awarded 213 individual grants totaling $3,557,265. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL ASSISTANCE THROUGH GRANTS AND LOANS TO CHARITABLE ORGANIZATIONS THAT PROVIDE TRAINING AND ASSISTANCE TO CITIZENS WITH INTELLECTUAL DISABILITIES IN THE COMMONWEALTH OF VIRGINIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FINANCIAL ASSISTANCE THROUGH GRANTS AND LOANS TO CHARITABLE ORGANIZATIONS THAT PROVIDE TRAINING AND ASSISTANCE TO CITIZENS WITH INTELLECTUAL DISABILITIES IN THE COMMONWEALTH OF VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Francis Holland VP - Fundrai | OfficerTrustee | 5 | $0 |
Matthew Wheeler VP - Grants | OfficerTrustee | 5 | $0 |
Douglas Blair Treasurer | OfficerTrustee | 5 | $0 |
J Charles Curran VP - Audits | OfficerTrustee | 5 | $0 |
Jay Hoffmeier VP - Info Te | OfficerTrustee | 4 | $0 |
Daniel Hurley Secretary | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $15,412 |
| Membership dues | $0 |
| Fundraising events | $426,968 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,444 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $524,824 |
| Total Program Service Revenue | $60,856 |
| Investment income | $5,249 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $593,886 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $346,339 |
| 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 | $18,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $10,123 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,828 |
| 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 | $3,193 |
| All other expenses | $0 |
| Total functional expenses | $395,164 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,522,443 |
| Pledges and grants receivable | $11,232 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $975,272 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,170 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $156,174 |
| Investments—other securities | $120,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,895 |
| Total assets | $2,810,186 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $63,481 |
| 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 | $63,481 |
| Net assets without donor restrictions | $2,746,705 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,810,186 |
Grants Awarded
Over the last fiscal year, Kovar Corporation has awarded $346,339 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
Richmond, VA PURPOSE: LOCAL SPEC OLYMPICS | $50,000 |
Richmond, VA PURPOSE: GROUP HOME FURNITURE | $19,358 |
JILL'S HOUSE INC PURPOSE: TEACHING EQUIP&SUPPL | $18,896 |
Glen Allen, VA PURPOSE: SCHOOL SCHOLARSHIPS | $15,000 |
Lynchburg, VA PURPOSE: VEHICLE FOR OUTINGS | $15,000 |
Moneta, VA PURPOSE: MULTI-PURPOSE VAN | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Kovar Corporation has recieved totaling $7,706.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $6,100 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $827 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $729 |
Verizon Foundation Basking Ridge, NJ PURPOSE: MIP PAYOUT FOR 02/10/20 | $50 |
Endowment Analysis
| Beg. Balance | $254,265 |
| Net Contributions | $980,843 |
| Grants | $346,339 |
| Ending Balance | $888,769 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Versability Resources Inc Hampton, VA | $38,988,304 | $55,905,926 |
The Arc Baltimore Inc Baltimore, MD | $34,863,848 | $52,443,624 |
Orange Grove Center Inc Chattanooga, TN | $25,283,096 | $40,700,796 |
Way Station Inc Frederick, MD | $48,827,954 | $38,298,060 |
Emerge Inc Columbia, MD | $32,400,357 | $38,462,137 |
Community Support Services Gaithersburg, MD | $39,474,698 | $37,353,075 |
Arc Of Prince Georges County Inc Largo, MD | $28,484,886 | $35,714,387 |
Shelby Residential And Vocational Services Inc Memphis, TN | $11,136,048 | $28,344,823 |
Arc Of Washington County Inc Hagerstown, MD | $39,737,967 | $35,189,004 |
Arc Of Montgomery County Inc Rockville, MD | $15,718,782 | $30,280,101 |
Compass Inc Beltsville, MD | $25,197,115 | $27,736,040 |
Life Bridges Inc Cleveland, TN | $14,755,928 | $22,280,185 |