Chesapeake Bay Wine Classic Foundation
- Assets
- $288.5k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 03/1998
- Data as of
- 06/2022
- EIN
- 54-1831607
Organization Overview
Chesapeake Bay Wine Classic Foundation is located in Virginia Beach, VA. The organization was established in 1998. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chesapeake Bay Wine Classic 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, Chesapeake Bay Wine Classic Foundation generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 11.5% 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.
Since 2015, Chesapeake Bay Wine Classic Foundation has awarded 91 individual grants totaling $3,773,460. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FUNDS TO ORGANIZATIONS DEDICATED TO THE SUPPORT AND ADVANCED EDUCATION OF OUR YOUTH;TO PROMOTE VITICULTURE AND OENOLOGY IN HAMPTON ROADS; TO PROMOTE MEDICAL RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DONATIONS TO OTHER CHARITABLE EXEMPT ORGANIZATIONS PRIMARILY FOCUSED ON PROVIDING ADVANCED EDUCATION FOR THE YOUTH OF HAMPTON ROADS.
COSTS ASSOCIATED WITH WINE EDUCATION SEMINARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Hadder Director | OfficerTrustee | 2 | $0 |
Steve Burke Director | Trustee | 2 | $0 |
Robert A Dardenne Treasurer | OfficerTrustee | 5 | $0 |
Jennie Capps Secretary | OfficerTrustee | 40 | $0 |
Mark Nelson Director | Trustee | 2 | $0 |
Linda Church Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $871,468 |
| 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 | $871,468 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $609,899 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,481,367 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,257,240 |
| 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 | $118,750 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,917 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,342 |
| Travel | $2,227 |
| 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 | $22,829 |
| All other expenses | $0 |
| Total functional expenses | $1,436,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $288,487 |
| 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 | $288,487 |
| 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 | $288,487 |
| Total liabilities and net assets/fund balances | $288,487 |
Grants Awarded
Over the last fiscal year, Chesapeake Bay Wine Classic Foundation has awarded $1,191,215 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
ACCESS COLLEGE FOUNDATION PURPOSE: SUPPORT | $369,115 |
SAINT MATTHEWS SCHOOL PURPOSE: GENERAL FUND | $7,000 |
EASTERN VIRGINIA MEDICAL SCHOOL PURPOSE: SUPPORT | $72,000 |
HAMPTON ROADS COMMUNITY FOUNDATION PURPOSE: CHESAPEAKE BAY WINE CLASSIC ENDOWMENT | $500,000 |
PRIORITY CHARITY BOWL PURPOSE: GENERAL FUND | $30,000 |
VIRGINIA BEACH BILLFISH FOUNDATION PURPOSE: GENERAL FUND | $10,600 |