Southern Virginia Higher Education Foundation Inc
- Assets
- $19.8m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 4
- Location
- South Boston, VA
- Founding
- 10/1998
- Data as of
- 06/2021
- EIN
- 54-1866278
Organization Overview
Southern Virginia Higher Education Foundation Inc is located in South Boston, VA. The organization was established in 1998. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 06/2021, Southern Virginia Higher Education Foundation Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Virginia Higher Education 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 06/2021, Southern Virginia Higher Education Foundation Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $1.2m during the year ending 06/2021. While expenses have increased by 1.6% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ENHANCE CONTINUING EDUCATIONAL OPPORTUNITIES FOR THE CITIZENS OF HALIFAX COUNTY, VA AND THE SURROUNDING AREAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTENANCE, PURCHASE, ADMINISTRATION AND OTHER EXPENSES FOR THE OPERATION OF THE BUILDINGS AND GROUNDS LEASED TO THE SOUTHERN VIRGINIA HIGHER EDUCATION CENTER TO ENHANCE AND PROMOTE EDUCATIONAL OPPORTUNITIES. PROGRAM ACCOMPLISHMENTS INCLUDE GRANTS/DONATION OF EQUIPMENT TO THE SOUTHERN VIRGINIA HIGHER EDUCATION CENTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katrina Powell Executive Di | Officer | 40 | $123,126 |
Monica Edmonds Chairman | OfficerTrustee | $0 | |
Jeff Davis Treasurer | OfficerTrustee | $0 | |
Larry Sneed Secretary | OfficerTrustee | $0 | |
Patricia Walker Vice Chairma | OfficerTrustee | $0 | |
Sterling Edmunds Director | Trustee | $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 | $142,414 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $142,414 |
| Total Program Service Revenue | $680,395 |
| Investment income | $531,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $28,409 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,382,351 |
| 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. | $123,126 |
| Compensation of current officers, directors, key employees. | $70,182 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $90,582 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,790 |
| 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 | $31,164 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,530 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,634 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $600,451 |
| Insurance | $26,669 |
| All other expenses | $3,222 |
| Total functional expenses | $1,200,143 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $798,408 |
| Savings and temporary cash investments | $588,940 |
| Pledges and grants receivable | $26,283 |
| 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 | $16,774,427 |
| Investments—publicly traded securities | $1,603,133 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $42,335 |
| Total assets | $19,833,526 |
| Accounts payable and accrued expenses | $45,290 |
| 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 | $399,164 |
| Total liabilities | $444,454 |
| Net assets without donor restrictions | $19,376,081 |
| Net assets with donor restrictions | $12,991 |
| 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 | $19,833,526 |
Grants Awarded
Over the last fiscal year, Southern Virginia Higher Education Foundation Inc has awarded $266,100 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PURPOSE: DONATION | $225,000 |
Norfolk, VA PURPOSE: DONATION | $41,100 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Southern Virginia Higher Education Foundation Inc has recieved totaling $244,766.
| Awarding Organization | Amount |
|---|---|
Sentara Healthcare Norfolk, VA PURPOSE: CENTER OF NURSING EXCELLENCE: EXPANSION AND TECHNOLOGY UPDATES | $180,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $46,705 |
Old Dominion Electric Cooperative Glen Allen, VA PURPOSE: SCHOLARSHIPS AND SPONSORSHIP | $10,000 |
Dollar General Literacy Foundation Goodlettsville, TN PURPOSE: ADULT LITERACY | $8,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $61 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association For Clinical Chemistry Inc Washington, DC | $31,632,986 | $18,150,460 |
Susan B Anthony List Inc Arlington, VA | $6,109,204 | $16,065,131 |
Aids United Washington, DC | $16,240,693 | $19,019,266 |
Media Matters For America Washington, DC | $25,734,430 | $18,794,929 |
Connected Nation Inc Bowling Green, KY | $5,021,239 | $16,572,653 |
Appletree Institute For Education Innovation Inc Washington, DC | $11,136,365 | $16,950,350 |
North Raleigh Christian Academy Raleigh, NC | $50,620,236 | $15,888,714 |
National Association Of State Procurement Officials Lexington, KY | $137,920,901 | $31,374,950 |
Seton Home Study School Front Royal, VA | $19,128,742 | $13,590,541 |
Instruction Partners Nashville, TN | $7,038,441 | $15,858,376 |
Association Of Schools And Programs Of Public Health Inc Washington, DC | $11,824,583 | $12,542,035 |
Read Foundation Memphis, TN | $15,946,000 | $13,611,845 |