Virginia Propane Research & Education Foundation
- Assets
- $90.2k
- Revenue
- $198.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 02/2000
- Data as of
- 12/2022
- EIN
- 54-1942419
Organization Overview
Virginia Propane Research & Education Foundation is located in Richmond, VA. The organization was established in 2000. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Propane Research & Education Foundation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Virginia Propane Research & Education Foundation generated $198.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $198.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
VIRGINIA PROPANE RESEARCH & EDUCATIONAL FOUNDATION IS A NONPROFIT FOUNDATION WHOSE MAIN PURPOSE IS TO DEVELOP EDUCATIONAL,RESEARCH, AND MARKETING PROGRAMS TO PROMOTE THE PROPANE GAS INDUSTRY IN THE STATE OF VIRGINIA. THE OBJECTIVES OF THE FOUNDATION SHALL BE TO PERFORM THE FOLLOWING: EDUCATE TO PROVIDE INFORMATION ON PROPANE, PROPANE USE EQUIPMENT, MECHANICAL AND TECHNICAL PRACTICES AND PROPANE USES TO CONSUMERS, INDUSTRY EMPLOYEES AND THE PUBLIC IN GENERAL; DEVELOP PROPANE MARKETING WHICH PRESENTS POSITIVE INFORMATION ABOUT PROPANE TO THE PUBLIC INCLUDING PAID PROMOTIONAL ADVERTISING; CONDUCT RESEARCH OR ANY TYPE OF STUDY, INVESTIGATION OR OTHER ACTIVITY DESIGNED TO ADVANCE THE IMAGE, DESIRABILITY, USAGE, MARKETABILITY, EFFICIENCY, AND SAFETY OF PROPANE AND PROPANE USE EQUIPMENT AND TO FURTHER THE DEVELOPMENT OF SUCH INFORMATION AND PRODUCTS; AND COLLECT FUNDS AND ADMINISTER SCHOLARSHIPS WHICH FOSTER INCREASED EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES CERTIFIED STATEWIDE SAFETY AND TRAINING OF THE SAFE HANDLING AND UTILIZIATION OF PROPANE GAS AS AN ALTERNATIVE, RELIABLE ENERGY SOURCE. THESE PROGRAMS INCLUDE FIRE TRAINING, EXTERNAL SAFETY FOR HAZARDOUS MATERIAL TEAMS, GENERAL CONSUMER SAFETY, AND SAFE INSTALLATION PROCEDURES FOR APPLIANCES UTILIZING PROPANE GAS.
THE FOUNDATION PROMOTES THE DEVELOPMENT OF THE PROPANE INDUSTRY BY PROVIDING APPLIANCE, MOWER AND VEHICLE REBATES AS WELL AS OTHER ACTIVITIES AIMED AT INCREASING THE USE OF PROPANE GAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meghan Kulinski President | OfficerTrustee | 1 | $0 |
Tony Hogue Treasurer | OfficerTrustee | 1 | $0 |
Taylor Sutton Secretary | OfficerTrustee | 1 | $0 |
Nicole Sullivan Director | Trustee | 0.5 | $0 |
Colin Wood-Bradley Director | Trustee | 0.5 | $0 |
Trent Mckenzie Director | Trustee | 0.5 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $198,756 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $198,756 |
| 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 | $17,387 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,150 |
| Advertising and promotion | $0 |
| Office expenses | $1,936 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,834 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,598 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $11 |
| All other expenses | $0 |
| Total functional expenses | $198,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,587 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,648 |
| 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 | $90,235 |
| Accounts payable and accrued expenses | $72,428 |
| Grants payable | $0 |
| Deferred revenue | $2,706 |
| 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 | $17,387 |
| Total liabilities | $92,521 |
| Net assets without donor restrictions | -$2,286 |
| 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 | $90,235 |