Beans And Rice Inc
- Assets
- $922.4k
- Revenue
- $432.6k
- Investments
- $0.0
- Employees
- 15
- Location
- Radford, VA
- Founding
- 01/1998
- Data as of
- 06/2021
- EIN
- 54-1851247
Organization Overview
Beans And Rice Inc is located in Radford, VA. The organization was established in 1998. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 06/2021, Beans And Rice Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beans And Rice 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 06/2021, Beans And Rice Inc generated $432.6k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $387.9k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 6 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 ASSIST IN GROWING CAPACITIES AND ASSETS IN LOW TO MODERATE INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS INCLUDE ASSET GROWTH INITIATIVES AND CAPACITY DEVELOPMENT OPPORTUNITIES FOR LOW TO MODERATE INCOME FAMILIES THROUGH COMMUNITY LEARNING CENTERS LOCATED IN THE NEW RIVER VALLEY OF VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Spiegel Executive Director | Officer | 40 | $38,151 |
Eric Bucey Executive Director | Officer | 40 | $22,060 |
Laura Jacobsen President | Officer | 1 | $0 |
Justin Mosby Vice President | Officer | 1 | $0 |
Michael Reis Treasurer | Officer | 1 | $0 |
Brooke Love Secretary | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $3,097 |
| Membership dues | $0 |
| Fundraising events | $123 |
| Related organizations | $0 |
| Government grants | $110,739 |
| All other contributions, gifts, grants, and similar amounts not included above | $192,443 |
| Noncash contributions included in lines 1a–1f | $106,975 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $306,402 |
| Total Program Service Revenue | $106,667 |
| Investment income | $756 |
| 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 | $432,625 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $105,152 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $61,749 |
| Compensation of current officers, directors, key employees. | $12,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $30,571 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,006 |
| Payroll taxes | $6,880 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,415 |
| 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 | $6,317 |
| Information technology | $2,762 |
| Royalties | $0 |
| Occupancy | $23,648 |
| Travel | $152 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42 |
| Interest | $6,686 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,839 |
| Insurance | $8,229 |
| All other expenses | $10,532 |
| Total functional expenses | $387,900 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $228,024 |
| Savings and temporary cash investments | $197,087 |
| Pledges and grants receivable | $13,116 |
| Accounts receivable, net | $3,762 |
| 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 | $8,377 |
| Net Land, buildings, and equipment | $472,033 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $922,399 |
| Accounts payable and accrued expenses | $7,414 |
| Grants payable | $0 |
| Deferred revenue | $197,395 |
| 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 | $159,896 |
| Unsecured mortgages and notes payable | $149,900 |
| Other liabilities | $196,881 |
| Total liabilities | $711,486 |
| Net assets without donor restrictions | $210,913 |
| 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 | $922,399 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Beans And Rice Inc has recieved totaling $33,037.
| Awarding Organization | Amount |
|---|---|
Clark Charitable Foundation Inc Bethesda, MD PURPOSE: GENERAL OPERATING SUPPORT OF FOOD SECURITY PROGRAMS | $25,000 |
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $8,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $37 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charity Global Inc Hagerstown, MD | $173,056,021 | $101,611,139 |
Chimes District Of Columbia Inc Baltimore, MD | $48,959,775 | $100,243,755 |
Signal Centers Inc Chattanooga, TN | $10,070,860 | $27,319,073 |
Louise W Eggleston Center Inc Norfolk, VA | $29,105,931 | $28,904,867 |
Boulder Crest Foundation Bluemont, VA | $39,968,822 | $23,145,930 |
Central Fairfax Services Inc Springfield, VA | $6,565,063 | $13,281,706 |
Area Congregations Together In Service Richmond, VA | $1,536,280 | $15,128,315 |
Delmarva Community Services Inc Cambridge, MD | $28,890,854 | $21,269,645 |
Cedars Of Chapel Hill Club Inc Chapel Hill, NC | $6,435,897 | $14,257,296 |
Behavioral Healthcare Services Inc Owensboro, KY | $8,995,827 | $13,461,445 |
Meritan Inc Memphis, TN | $4,688,088 | $16,356,031 |
Hilltoppers Inc Crossville, TN | $11,714,552 | $11,864,400 |