Virginia Ship Repair Foundation Inc
- Assets
- $1.2m
- Revenue
- $667.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 01/1983
- Data as of
- 12/2021
- EIN
- 54-1186058
Organization Overview
Virginia Ship Repair Foundation Inc is located in Norfolk, VA. The organization was established in 1983. According to its NTEE Classification (J22) the organization is classified as: Job Training, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Ship Repair Foundation Inc 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, Virginia Ship Repair Foundation Inc generated $667.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 37.3% each year . All expenses for the organization totaled $504.7k during the year ending 12/2021. While expenses have increased by 30.1% 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
TRAINING AND WORKFORCE DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, THE FOUNDATION ACCOMPLISHED ITS MISSION TO DEVELOP AND EDUCATE THE EXISTING AND FUTURE WORKFORCE OF THE SHIP REPAIR INDUSTRY IN THE FOLLOWING MEANS: PURSUED VIRTUAL CAREER AND INDUSTRY DAY OUTREACH TO AREA SCHOOLS; HOSTED 7 MIDDLE SCHOOL TEAMS COMPRISED OF APPROXIMATELY 70 STUDENTS TO COMPETE IN THE SHIP REPAIR LEGO VIRTUAL DESIGN COMPETITION; CONTINUED TO OFFER MARINE TRADE TRAINING COURSES FOR ENTRY-LEVEL WORKERS IN PARTNERSHIP WITH REGIONAL COMMUNITY COLLEGES IN COATINGS, ELECTRICAL, OUTSIDE MACHINIST, PIPEFITTING, SHEET METAL, AND WELDING; FACILITATED TOURS OF SHIP REPAIR FACILITIES FOR VARIOUS GROUPS, INCLUDING WOMEN IN SKILLED CAREERS (WISC) PARTICIPANTS, TO EXPERIENCE THE SHIPYARD ENVIRONMENT AND SPEAK WITH INCUMBENT WORKERS; PARTNERED WITH REGIONAL SCHOOL SYSTEMS IN HAMPTON, NORFOLK, VIRGINIA BEACH, CHESAPEAKE, AND PORTSMOUTH TO PROVIDE INFORMATION ON AVAILABLE CAREER PATHWAYS TO INTERESTED STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robbie Walker Chairman | OfficerTrustee | 0.25 | $0 |
Trinity Lefler Vice Chairman | OfficerTrustee | 0.25 | $0 |
Todd Kling Secretary/treasurer | OfficerTrustee | 0.25 | $0 |
William Crow Executive Director | Officer | 10 | $0 |
Dawn Angrisani Director | Trustee | 0.25 | $0 |
Nikole Dunkley Director | Trustee | 0.25 | $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 | $25,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,750 |
| Total Program Service Revenue | $326,470 |
| Investment income | $130 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $94,274 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $667,496 |
| 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. | $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 | $76,800 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,810 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $115,742 |
| Office expenses | $56,643 |
| Information technology | $5,406 |
| Royalties | $0 |
| Occupancy | $15,450 |
| Travel | $971 |
| 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 | $3,959 |
| Total functional expenses | $504,693 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,044,240 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $161,292 |
| 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 | $1,205,532 |
| Accounts payable and accrued expenses | $12,712 |
| Grants payable | $0 |
| Deferred revenue | $3,000 |
| 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 | $15,712 |
| Net assets without donor restrictions | $1,189,820 |
| 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 | $1,205,532 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virginia Ship Repair Foundation Inc has recieved totaling $16,450.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $16,450 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Home Builders Institute Washington, DC | $13,142,245 | $43,277,759 |
National Electrical Contractors Association Inc Washington, DC | $44,117,861 | $37,605,708 |
Electrical Training Alliance Bowie, MD | $46,161,520 | $37,934,095 |
Eastern Kentucky Concentrated Employment Program Inc Hazard, KY | $3,193,926 | $15,607,928 |
International Union Of Operating Engineers National Training Fund Washington, DC | $30,318,039 | $21,521,073 |
Electrical Local No 26 Joint Apprenticeship & Training Tr Fund Lanham, MD | $29,794,692 | $14,296,333 |
Mm&p Maritime Advancement Training Ed & Safety Program Linthicum Heights, MD | $12,191,670 | $4,959,385 |
Baltimore Corps Inc Baltimore, MD | $9,476,399 | $10,474,967 |
Heating Piping & Refrigeration Training Fund Landover, MD | $40,125,047 | $11,368,274 |
Iupat Finishing Trades Institute Hanover, MD | $16,339,084 | $7,845,156 |
Point Programs Inc Covington, KY | $8,847,119 | $6,355,202 |
Atu Training And Education Center Inc Silver Spring, MD | $35,739,590 | $712,662 |