Central Virginia Governors School Foundation
- Assets
- $4.0m
- Revenue
- $420.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Lynchburg, VA
- Founding
- 07/1988
- Data as of
- 06/2022
- EIN
- 54-1441933
Organization Overview
Central Virginia Governors School Foundation is located in Lynchburg, VA. The organization was established in 1988. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is the central organization for a national or regional group of organizations. Central Virginia Governors School 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 06/2022, Central Virginia Governors School Foundation generated $420.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.8% each year . All expenses for the organization totaled $148.9k during the year ending 06/2022. While expenses have increased by 22.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE GOVERNOR'S SCHOOL FOUNDATION IS A NON-PROFIT CORPORATION ESTABLISHED TO CHANNEL FUNDS FROM PRIVATE SOURCES TO ENHANCE THE EDUCATIONAL PROGRAM PROVIDED FOR STUDENTS BY THE CENTRAL VIRGINIA GOVERNOR'S SCHOOL FOR SCIENCE AND TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ACADEMIC SCHOLARSHIPS TO GRADUATING SENIORS
FUND STUDENT RESEARCH AND PROGRAM SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Smith President & CEO | Officer | 1 | $0 |
Michael Webb Vice President | Officer | 0.3 | $0 |
Beth Bankston Treasurer | Officer | 0.3 | $0 |
Mecole Ingram Director | Trustee | 0.3 | $0 |
Stephen Tibbs Director | Trustee | 0.3 | $0 |
Teresa Brennan Director | Trustee | 0.3 | $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 | $48,577 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,577 |
| Total Program Service Revenue | $0 |
| Investment income | $82,433 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $289,185 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $420,195 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $129,000 |
| 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 | $0 |
| 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 | $148,878 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2 |
| 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 | $3,962,416 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,962,418 |
| 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 | $0 |
| 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 | $3,962,418 |
| Total liabilities and net assets/fund balances | $3,962,418 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Central Virginia Governors School Foundation has recieved totaling $200,500.
| Awarding Organization | Amount |
|---|---|
Vanguard Charitable Endowment Program Southeastern, PA PURPOSE: FOR RECIPIENT'S EXEMPT PURPOSE | $200,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Maryland College Park Foundation Inc College Park, MD | $869,831,500 | $109,216,276 |
The University Of Tennessee Foundat Ion Inc Knoxville, TN | $742,610,209 | $198,804,674 |
Nc State Investment Fund Inc Raleigh, NC | $1,930,063,391 | $166,344,497 |
University Of Louisville Foundation Inc Louisville, KY | $1,075,988,166 | $43,496,002 |
Old Dominion University Research Foundation Norfolk, VA | $35,170,684 | $51,598,508 |
University Of Virginia Darden School Foundation Charlottesville, VA | $664,692,543 | $80,428,705 |
Unc Health Foundation Inc Chapel Hill, NC | $571,825,040 | $92,147,897 |
William & Mary Foundation Williamsburg, VA | $1,122,551,962 | $79,373,462 |
University Of Virginia Foundation Charlottesville, VA | $508,958,321 | $36,530,024 |
North Carolina State University Foundation Inc Raleigh, NC | $679,121,022 | $52,520,062 |
University Health Services Inc Richmond, VA | $34,736,696 | $16,366,834 |
Medical College Of Virginia Foundation Richmond, VA | $645,911,510 | $54,318,573 |