Olde Dominion Agricultural Foundation
- Assets
- $7.8m
- Revenue
- $1.7m
- Investments
- $13.1k
- Employees
- 17
- Location
- Chatham, VA
- Founding
- 12/2008
- Data as of
- 12/2022
- EIN
- 26-2259766
Organization Overview
Olde Dominion Agricultural Foundation is located in Chatham, VA. The organization was established in 2008. According to its NTEE Classification (W99) the organization is classified as: Public & Societal Benefit N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Olde Dominion Agricultural Foundation employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Olde Dominion Agricultural 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, Olde Dominion Agricultural Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $917.4k during the year ending 12/2022. While expenses have increased by 11.9% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE OLDE DOMINION AGRICULTURAL FOUNDATION (ODAF) ENVISIONS A SOUTHSIDE VIRGINIA WHERE AGRICULTURE, BUSINESS AND COMMUNITIES THRIVE, GROW, LEARN AND COLLABORATE. TO FULFILL THIS VISION, ODAF'S MISSION IS TO PROMOTE AND SUPPORT REGIONAL AGRICULTURE WHILE OFFERING A COMMUNITY BASED VENUE TO EDUCATE AND ENTERTAIN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FREE OR REDUCED RENTAL FEES IN THE CONFERENCE CENTER AND ARENA TO ORGANIZATIONS FOR AGRICULTURAL USE. TOTAL PROVIDED IN 2022 EQUALING 28 RENTALS HAVING A RETAIL VALUE OF $14,150.
PROVIDE FREE RENTAL FEES IN THE CONFERENCE CENTER AND ARENA TO REGIONAL FFA AND 4H YOUTH ORGANIZATIONS. 5 RENTALS WERE USED IN 2022 WITH A RETAIL VALUE OF $10,300.
PROVIDES AN 2,500 SQUARE FEET FARMERS' MARKET PAVILION INCLUDING A BATHROOM FACILITY, ELECTRICITY AND WATER AT NO CHARGE TO PITTSYLVANIA COUNTY REGIONAL FARMERS TO MARKET AND SELL THEIR AGRICULTURE PRODUCTS FROM MAY-SEPTEMBER OF 2022. VALUE OF $25,000 PER SEASON. PITTSYLVANIA COUNTY, VIRGINIA SENDS $25,000 TO THE OLDE DOMINION AGRICULTURAL FOUNDATION TO RUN AND MAINTAIN THE FARMERS' MARKET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Shorter Chairman | OfficerTrustee | 1 | $0 |
Roger Jefferson Vice Chairman | OfficerTrustee | 1 | $0 |
Elizabeth Hammond Treasurer | OfficerTrustee | 1 | $0 |
Jessica Jones Secretary | OfficerTrustee | 1 | $0 |
Chuck Angier Board Member | Trustee | 1 | $0 |
Tommy Barron Board Member | Trustee | 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 | $1,010,715 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,010,715 |
| Total Program Service Revenue | $0 |
| Investment income | $3,199 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $617,763 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $38,242 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,669,919 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $110,009 |
| Compensation of current officers, directors, key employees. | $28,602 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $191,931 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,895 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,423 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,569 |
| Office expenses | $21,909 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,714 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,327 |
| Interest | $21,526 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $259,901 |
| Insurance | $32,619 |
| All other expenses | $0 |
| Total functional expenses | $917,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,325 |
| Savings and temporary cash investments | $961,498 |
| Pledges and grants receivable | $41,750 |
| Accounts receivable, net | $9,402 |
| 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 | $6,736,601 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $13,054 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,442 |
| Total assets | $7,796,072 |
| Accounts payable and accrued expenses | $26,743 |
| Grants payable | $0 |
| Deferred revenue | $89,660 |
| 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 | $629,114 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $745,517 |
| Net assets without donor restrictions | $6,544,275 |
| Net assets with donor restrictions | $506,280 |
| 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 | $7,796,072 |