Portsmouth & Chesapeake Area Foundation
- Assets
- $3.6m
- Revenue
- $674.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Portsmouth, VA
- Founding
- 11/1971
- Data as of
- 12/2021
- EIN
- 54-0761117
Organization Overview
Portsmouth & Chesapeake Area Foundation is located in Portsmouth, VA. The organization was established in 1971. 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. Portsmouth & Chesapeake Area 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, Portsmouth & Chesapeake Area Foundation generated $674.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 44.3% each year . All expenses for the organization totaled $63.5k during the year ending 12/2021. While expenses have increased by 7.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PORTSMOUTH CHESAPEAKE AREA FOUNDATION FINANCIALLY SUPPORTS THE PORTSMOUTH AND CHESAPEAKE, VIRGINIA PUBLIC SCHOOLS BY PROVIDING FUNDING FOR EDUCATIONAL AND OTHER GOODS AND MATERIALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO KIRK-CONE REHABILITATION INC., A 501(C)(3) ORGANIZATION TO ALLOW KIRK-CONE TO CARRY OUT THE MISSION OF THIS AND ITS ORGANIZATION, WHICH IS TO PROVIDE FOR THE SPECIAL NEEDS STUDENTS AND TEACHERS IN THE PORTSMOUTH AND CHESAPEAKE SCHOOLS. GRANTS WERE PAID PURSUANT TO REQUESTS FROM EACH SCHOOL SYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann M Kirk President & | OfficerTrustee | 2 | $0 |
Edna Fauld Vice Pres. & | OfficerTrustee | 0.5 | $0 |
Cassandra Ivey Secretary & | OfficerTrustee | 1 | $0 |
William A Rapier Treasurer & | OfficerTrustee | 2 | $0 |
Ave Bullard Trustee | Trustee | 0.5 | $0 |
Rhonda Ellsworth-White Trustee | Trustee | 0.5 | $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 | $500,045 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $500,045 |
| Total Program Service Revenue | $0 |
| Investment income | $129,523 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $44,413 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $673,981 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $61,140 |
| 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 | $1,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| 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 | $63,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $393,530 |
| 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 | $3,209,557 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,603,087 |
| 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 |
| Net assets without donor restrictions | $3,603,087 |
| 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 | $3,603,087 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Portsmouth & Chesapeake Area Foundation has recieved totaling $45.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $45 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robins Foundation Richmond, VA | $182,936,779 | $19,761,890 |
Jacob And Hilda Blaustein Foundation Inc Baltimore, MD | $130,688,531 | $27,779,767 |
Carson-Myre Charitable Foundation Paducah, KY | $72,587,857 | $8,781,396 |
Virginia Institute Of Autism Incorporated Charlottesville, VA | $13,400,970 | $11,731,710 |
Clark-Winchcole Foundation Bethesda, MD | $197,708,650 | $12,024,655 |
Joe C Davis Foundation Nashville, TN | $101,782,891 | $6,182,733 |
National Minority Quality Forum Inc Washington, DC | $4,852,871 | $11,649,230 |
Gambrell Foundation Charlotte, NC | $0 | $18,901,501 |
Day Foundation Memphis, TN | $0 | $13,711,953 |
Clayton Family Foundation Knoxville, TN | $90,913,195 | $17,391,150 |
Affordable Housing Opportunity Fund Inc Charlottesville, VA | $703,537 | $6,974,715 |
G Harbaugh Foundation Franklin, TN | $61,708,468 | $12,393,056 |