Halifax Regional Development Foundation Inc
- Assets
- $2.1m
- Revenue
- $85.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 09/1996
- Data as of
- 12/2021
- EIN
- 54-1801459
Organization Overview
Halifax Regional Development Foundation Inc is located in Norfolk, VA. The organization was established in 1996. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Halifax Regional Development 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, Halifax Regional Development Foundation Inc generated $85.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (17.9%) each year. All expenses for the organization totaled $77.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (26.6%) 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
TO PROMOTE COMMUNITY HEALTH AND TO DEVELOP FUNDRAISING AND SUPPORT FOR HALIFAX REGIONAL HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HALIFAX REGIONAL DEVELOPMENT FOUNDATION, INC. (HRDF) IS ORGANIZED TO PROMOTE THE GENERAL HEALTH AND WELFARE OF THE COMMUNITY AND IS RESPONSIBLE FOR THE DEVELOPMENT OF FUNDRAISING EFFORTS AND IMPROVEMENT OF COMMUNITY SUPPORT FOR SENTARA HALIFAX REGIONAL HOSPITAL, INC.; FOR ADMINISTERING GIFTS, GRANTS AND CONTRIBUTIONS FOR THE HOSPITAL AND FOR PROVIDING OTHER SERVICES THAT ARE EXCLUSIVELY CHARITABLE, EDUCATIONAL OR SCIENTIFIC IN NATURE. THE FOUNDATION IS ALSO RESPONSIBLE FOR MANAGING THE INVESTMENT OF SENTARA HALIFAX REGIONAL HOSPITAL, INC'S ENDOWMENT FUNDS AND FOR MANAGEMENT OF THE AFFILIATED GROUPS' EDUCATIONAL ASSISTANCE PROGRAM.SEE ALSO SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian K Zwoyer Director/president/secretary | OfficerTrustee | 1 | $0 |
Carol C Thomas Director/chair | OfficerTrustee | 0.1 | $0 |
Megan R Perry Director/treasurer | OfficerTrustee | 0.1 | $0 |
Paul A Gaden Director/vice Chair | OfficerTrustee | 0.1 | $0 |
Jonathan S Davis Former Director/officer | 0 | $0 | |
Michael V Gentry Former Officer | 0 | $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 | $64,410 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $64,410 |
| Total Program Service Revenue | $0 |
| Investment income | $20,799 |
| 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 | $85,209 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $17,540 |
| 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 | $59,864 |
| Total functional expenses | $77,404 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $973,142 |
| Savings and temporary cash investments | $1,166,337 |
| 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 | $0 |
| Intangible assets | $0 |
| Other assets | $62 |
| Total assets | $2,139,541 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $981 |
| 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 | $138,674 |
| Total liabilities | $139,655 |
| Net assets without donor restrictions | $1,099,953 |
| Net assets with donor restrictions | $899,933 |
| 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 | $2,139,541 |
Grants Awarded
Over the last fiscal year, Halifax Regional Development Foundation Inc has awarded $115,833 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTHSIDE HEALTH SERVICES INC PURPOSE: MEDICATION ASSISTANCE PROGRAM | $58,520 |
Norfolk, VA PURPOSE: HOSPICE SUPPORT | $32,000 |
DOMINION HEALTH MEDICAL ASSOCIATES PURPOSE: FUNDING FOR HALIFAX REGIONAL DENTAL CLINIC | $25,313 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Halifax Regional Development Foundation Inc has recieved totaling $53,520.
| Awarding Organization | Amount |
|---|---|
Virginia Health Care Foundation Richmond, VA PURPOSE: Medication Assistance Program | $53,520 |
Endowment Analysis
| Beg. Balance | $953,000 |
| Earnings | -$12,648 |
| Admin Expense | $87,289 |
| Net Contributions | $64,410 |
| Grants | $17,540 |
| Ending Balance | $899,933 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Foundation Of The Catholic Diocese Of Columbus Columbus, OH | $225,801,350 | $24,775,130 |
Oak Spring Garden Foundation Upperville, VA | $320,424,904 | $24,563,668 |
The Pottstown Cluster Of Religious Communities Pottstown, PA | $2,620,724 | $10,453,372 |
Advancing Native Missions Afton, VA | $4,333,922 | $11,124,622 |
Timothy Initiative Inc Raleigh, NC | $25,869,697 | $20,418,173 |
Fabricators & Manufacturers Association International Elgin, IL | $36,664,883 | $10,492,496 |
Alpha Usa Naperville, IL | $4,051,813 | $10,198,645 |
Wesley Village Inc Macomb, IL | $11,643,378 | $8,896,317 |
St Josephs Home Of Springfield Springfield, IL | $6,765,138 | -$5,947,093 |
Physician Assistant Education Association Washington, DC | $20,449,567 | $13,289,693 |
City Of Refuge Inc Atlanta, GA | $18,578,795 | $9,135,404 |
Plain Church Medical Group Inc Arthur, IL | $1,903,756 | $9,584,459 |