Virginia Legends Walk Foundation Inc
- Assets
- $34.5k
- Revenue
- $48.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 01/2001
- Data as of
- 12/2022
- EIN
- 54-1968112
Organization Overview
Virginia Legends Walk Foundation Inc is located in Virginia Beach, VA. The organization was established in 2001. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, 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 Legends Walk 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 12/2022, Virginia Legends Walk Foundation Inc generated $48.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (13.3%) each year. All expenses for the organization totaled $33.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (18.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ELECTION FOR AND EDUCATION CONCERNING LEGENDARY VIRGINIA PERSONALITIES. INSTALL PLAQUES THAT HONOR THESE VIRGINIANS IN VIRGINIA BEACH CITY OWNED PUBLIC GARDEN/WALK DEDICATED TO THIS PURPOSE. PROVIDE HISTORICAL THEMED PROGRAMMING FOR VISITORS TO THE CITY OF VIRGINIA BEACH AND THE COMMONWEALTH OF VIRGINIA.
Describe the Organization's Program Activity:
PROVIDE ELECTION FOR AN EDUCATION CONCERNING LENGENDARY VIRGINIANS. INSTALL PLAQUES THAT HONOR THESE INDUCTEES ON VIRGINIA BEACH OWNED PUBLIC GARDEN WALK, IN THE HEART OF THE RESORT, DEDICATED TO THIS PURPOSE. THERE WERE NO INDUCTIONS NOR NOMINATIONS IN 2022. THE ORGANIZATION ANTICIPATES NOMINATIONS FOR INDUCTIONS WILL BEGIN IN 2023. THE LEGEND WALK PLANS A SIGNIFICANTLY INCREASED PRESENCE VIA THE WEBSITE WWW.VA-LEGENDS.NET. THE PARK IS DESIGNED TO ACCOMMODATE SEVERAL MORE INDUCTEES BEFORE THE CONSTRUCTION OF ADDITIONAL MOUNTING COLUMNS WILL BE REQUIRED.
DESPITE THE PANDEMIC AND THE NEED TO SOCIAL DISTANCE, THE LEGENDS WALK IN CONJUNCTION WITH THE CITY OF VIRGINIA BEACH PRESENTED SEVERAL OFFERINGS TO THE GENERAL PUBLIC AND VISITORS TO THE RESORT. ONCE AGAIN THE VLW PRESENTED "1619: WHEN DESTINIES COLLIDE", "THE WITCH OF PUNGO", "THE WRECK OF THE DICTATOR" WHICH FEATURES AT THE NAVAL AVIATION MONUMENT ON 215TH STREET, AND A NEW PRODUCTION NAMED "CONTRABAND". A TOTAL OF 126 SHOWINGS WERE PRODUCED AND OVER 10,000 ATTENDEES WERE ENTERTAINED AND EDUCATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert N Melatti Director | Trustee | 3 | $0 |
Gary Spell Director | Trustee | 1 | $0 |
Derek Leonidoff Director | Trustee | 1 | $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 | $49,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,000 |
| Total Program Service Revenue | $0 |
| Investment income | $4 |
| 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 | -$486 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,518 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,225 |
| 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 | $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 | $382 |
| Information technology | $1,964 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $163 |
| 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 | $0 |
| All other expenses | -$1 |
| Total functional expenses | $33,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,501 |
| 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 | $34,501 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $34,501 |