Virginia Business Higher Education Council
- Assets
- $148.4k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 05/1997
- Data as of
- 12/2021
- EIN
- 54-1827038
Organization Overview
Virginia Business Higher Education Council is located in Richmond, VA. The organization was established in 1997. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Business Higher Education Council 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 Business Higher Education Council generated $1.2m 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 (4.5%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.1%) 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 ENHANCE THE PERFORMANCE OF VIRGINIA'S PUBLIC COLLEGES, UNIVERSITIES AND COMMUNITY COLLEGES AND THEIR FUNDING BY STATE GOVERNMENT, TO HAVE A POSITIVE IMPACT ON VIRGINIA'S ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HELPED ENSURE THE VIRGINIA GENERAL ASSEMBLY KEPT HIGHER EDUCATION FUNDING AT CURRENT OR ABOVE LEVELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Finley President | OfficerTrustee | 40 | $216,892 |
Nancy Howell Agee Vice Chair | OfficerTrustee | 2 | $0 |
Dennis Treacy Chairman | OfficerTrustee | 4 | $0 |
George Martin Secretary | OfficerTrustee | 4 | $0 |
Todd Stottlemyer Treasurer | OfficerTrustee | 4 | $0 |
James Murray Director | Trustee | 2 | $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 | $1,174,295 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,174,295 |
| Total Program Service Revenue | $0 |
| Investment income | $112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,330 |
| 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 | $1,183,737 |
| 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 | $216,892 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,600 |
| Fees for services: Lobbying | $44,240 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $845,760 |
| Advertising and promotion | $0 |
| Office expenses | $629 |
| Information technology | $4,054 |
| Royalties | $0 |
| Occupancy | $18,881 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,500 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,163,939 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,394 |
| 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 | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $148,394 |
| 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 | $148,394 |
| 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 | $148,394 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Virginia Business Higher Education Council has recieved totaling $75,000.
| Awarding Organization | Amount |
|---|---|
Dominion Energy Charitable Foundation Richmond, VA PURPOSE: GROWTH4VA PHASE 3 | $50,000 |
Preston And Catharine White Foundation Virginia Beach, VA PURPOSE: CHARITABLE CONTRIBUTION | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Clay Center For The Arts & Sciences Of West Virginia Inc Charleston, WV | $104,991,627 | $9,740,232 |
Coalition To Salute Americas Heroes Foundation Leesburg, VA | $3,573,595 | $8,478,376 |
Music City Inc Nashville, TN | $1,837,848 | $7,930,504 |
Crosstown Arts Memphis, TN | $38,457,214 | $4,680,625 |
John C Campbell Folk School Brasstown, NC | $20,488,128 | $4,524,565 |
Baltimore Office Of Promotion And The Arts Baltimore, MD | $2,768,148 | $4,464,806 |
One Common Unity Inc Washington, DC | $667,542 | $2,484,423 |
Memphis Equity Through Arts Meta Incorporated Memphis, TN | $5,874,530 | $7,164,597 |
Sitar Arts Center Washington, DC | $12,189,332 | $3,951,154 |
Appalshop Inc Whitesburg, KY | $8,650,033 | $2,149,775 |
Memphis In May International Festival Inc Memphis, TN | $4,677,503 | $2,273,583 |
National Council For The Traditional Arts Silver Spring, MD | $1,116,811 | $2,051,101 |