Virginia Foundation For Research And Economic Education Inc
- Assets
- $95.7k
- Revenue
- $246.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Henrico, VA
- Founding
- 04/1989
- Data as of
- 12/2021
- EIN
- 54-1473133
Organization Overview
Virginia Foundation For Research And Economic Education Inc is located in Henrico, VA. The organization was established in 1989. According to its NTEE Classification (B05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Foundation For Research And Economic Education Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Virginia Foundation For Research And Economic Education Inc generated $246.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $224.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.7%) per year over the past 7 years. 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
SEE STATEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH AND ANALYZE VOTING RECORDS OF VIRGINIA GENERAL ASSEMBLY ON ISSUES OF IMPORTANCE TO ECONOMIC DEVELOPMENT, JOB CREATION, VIRGINIA'S BUSINESS CLIMATE AND CITIZEN'S PROSPERITY. RESEARCH REPORT PUBLISHED AND DISTRIBUTED TO 5,000 INDIVIDUALS, CORPORATIONS, AND TRADE ASSOCIATIONS TO ASSIST IN EVALUATION OF LEGISLATIVE ISSUES AND FUTURE CONCERNS FOR BUSINESS AND INDUSTRY.
RESEARCH AND ANALYZE ALL 140 LEGISLATIVE DISTRICTS AND 11 CONGRESSIONAL DISTRICTS IN VIRGINIA INCLUDING DEMOGRAPHIC STATISTICS PROVIDED BY THE U.S. CENSUS BUREAU, ACTUAL ELECTION RETURNS BY DISTRICT OVER A 10-YEAR PERIOD, ECONOMIC AND EMPLOYMENT STATISTICS, AND POPULATION VARIABLES. RESULTING REPORTS PRESENT SCIENTIFIC ANALYSES OF VIRGINIA'S POLITICAL JURISDICTIONS TO PINPOINT OPPORTUNITIES FOR ECONOMIC GROWTH AND DEVELOPMENT AS WELL AS AN ASSESSMENT OF THE RELATIVE POLITICAL STRENGTH OF BUSINESS AND INDUSTRY AND FREE-ENTERPRISE ORIENTED CANDIDATES.
CONDUCT MULTIPLE LEADERSHIP FORUMS FOR MORE THAN 1,000 TOP LEADERS IN BUSINESS, INDUSTRY, GOVERNMENT, COMMUNITY AFFAIRS, EDUCATION AND POLITICS THROUGHOUT VIRGINIA. THESE EVENTS OFFER UNIQUE OPPORTUNITIES FOR THE EXCHANGE OF IMPORTANT IDEAS, OBJECTIVES AND POLICY INITIATIVES WITH THE GOAL OF ENHANCING VIRGINIA'S ECONOMIC VITALITY, BUSINESS PROSPERITY AND RESPONSIBLE GOVERNMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Minnick Secretary | OfficerTrustee | 2 | $0 |
Gary Thomson Treasurer | OfficerTrustee | 2 | $0 |
Laura Novey Chair | OfficerTrustee | 2 | $0 |
Christopher B Saxman Executive Director | OfficerTrustee | 40 | $0 |
Paul Lawrence Past Chair | OfficerTrustee | 2 | $0 |
Wyatt Durrette Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $230,751 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $230,751 |
| Total Program Service Revenue | $3,996 |
| Investment income | $1,974 |
| 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 | $246,721 |
| 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. | $135,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,925 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,600 |
| Payroll taxes | $10,647 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,668 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | -$273 |
| Advertising and promotion | $1,500 |
| Office expenses | $3,091 |
| Information technology | $428 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,006 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,684 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,156 |
| All other expenses | $0 |
| Total functional expenses | $224,323 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,582 |
| Savings and temporary cash investments | $5,730 |
| 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 | $56,405 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $95,717 |
| 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 | $3,648 |
| Total liabilities | $3,648 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $92,069 |
| 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 | $95,717 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Virginia Foundation For Research And Economic Education Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
American Petroleum Institute Washington, DC PURPOSE: Event sponsorship | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Us Chamber Of Commerce Foundation Washington, DC | $77,506,306 | $58,006,979 |
America First Inc Arlington, VA | $3,850,844 | $14,195,522 |
National Student Clearinghouse Research Center Herndon, VA | $3,158,535 | $8,719,036 |
R Street Institute Washington, DC | $9,433,752 | $12,078,892 |
American Bankruptcy Institute Alexandria, VA | $21,045,850 | $6,767,069 |
Centerpoint Education Solutions Washington, DC | $2,694,353 | $5,212,147 |
National Association Of Independent Colleges & Universities Washington, DC | $15,482,036 | $7,647,704 |
Kentucky Pharmacy Education And Research Foundation Inc Frankfort, KY | $611,145 | $5,496,404 |
Achieve Inc Silver Spring, MD | $324,503 | $3,902,025 |
Thomas B Fordham Institute Washington, DC | $10,011,588 | $4,932,903 |
Excelencia In Education Inc Washington, DC | $16,958,749 | $12,336,645 |
State Educational Technology Directors Association Glen Burnie, MD | $1,209,563 | $3,539,021 |