Startup Virginia
- Assets
- $1.8m
- Revenue
- $941.6k
- Investments
- $500.0k
- Employees
- 6
- Location
- Richmond, VA
- Founding
- 11/2016
- Data as of
- 12/2022
- EIN
- 81-2587466
Organization Overview
Startup Virginia is located in Richmond, VA. The organization was established in 2016. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Startup Virginia employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Startup Virginia 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, Startup Virginia generated $941.6k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 21.7% each year . All expenses for the organization totaled $788.8k during the year ending 12/2022. While expenses have increased by 28.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
STARTUP VIRGINIA IS A NON-PROFIT, HIGH-GROWTH-BUSINESS INCUBATOR, DEDICATED TO BUILDING A LONG-TERM, SUSTAINABLE ECONOMY FOR VIRGINIA. WE CONNECT OUR STARTUP COMMUNITY TO EXCEPTIONAL MENTORS AND EXTENSIVE PROGRAMS IN A DYNAMIC WORKPLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STARTUP VIRGINA (SVA) ACTS AS A FRONT DOOR TO ENTREPRENEURSHIP/STARTUP HUB FOR BOTH MAIN STREET AND HIGH POTENTIAL STARTUPS IN THE RICHMOND, VA REGION BY PROVIDING A DYNAMIC WORKSPACE FOR HIGH POTENTIAL COMPANIES AND EDUATIONAL PROGRAMMING FOR THE ENTIRE COMMUNITY.HIGH POTENTIAL STARTUPS - FOR SVA'S HIGH POTENTIAL MEMBER STARTUPS SVA PROVIDES CO-WORKING AND NETWORKING OPORTUNITIES, WORKSHOPS AND SUPPORT THROUGH MEMBERSHIP AND 150+ MENTORS.COMMUNITY PROGRAMMING - SVA LEVERAGES ITS MENTOR AND INVESTOR NETWORKS TO EMPOWER INDIVIDUALS TO COVER AN ARRAY OF TOPICS RELEVANT TO CURRENT ISSUES. PROGRAMS INCLUDE ENTREPRENEURSHIP CERTIFICATION, TIMELY EDUCATIONAL WORKSHOPS AND CONNECTIONS AND NETWORKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Wintsch Executive Director | Officer | 40 | $163,311 |
Noelle James Managing Director | Officer | 40 | $111,843 |
Arnold Kim Director | Trustee | 1 | $0 |
Matt Briggs Director | Trustee | 1 | $0 |
Karen Booth Adams Director | Trustee | 1 | $0 |
Brad Cummings 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 | $553,999 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $553,999 |
| Total Program Service Revenue | $385,694 |
| Investment income | $277 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,625 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $941,595 |
| 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 | $406,654 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,630 |
| Payroll taxes | $31,051 |
| 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 | $24,487 |
| Advertising and promotion | $2,024 |
| Office expenses | $22,992 |
| Information technology | $21,169 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $19,606 |
| 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 | $13,929 |
| Insurance | $8,314 |
| All other expenses | $5,473 |
| Total functional expenses | $788,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $520,810 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $54,736 |
| Accounts receivable, net | $9,500 |
| 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 | $23,399 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $500,000 |
| Investments—program-related | $0 |
| Intangible assets | $652,911 |
| Other assets | $0 |
| Total assets | $1,761,356 |
| Accounts payable and accrued expenses | $9,662 |
| 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 | $698,814 |
| Total liabilities | $708,476 |
| Net assets without donor restrictions | $998,144 |
| Net assets with donor restrictions | $54,736 |
| 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 | $1,761,356 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Startup Virginia has recieved totaling $89,001.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $62,500 |
Massey Foundation Richmond, VA PURPOSE: UNRESTRICTED | $20,000 |
Williams Mullen Foundation Richmond, VA PURPOSE: DONATION | $5,000 |
Mckesson Foundation Dallas, TX PURPOSE: CHARITABLE | $1,501 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Norfolk State University Research And Innovation Foundation Norfolk, VA | $25,278,732 | $5,808,933 |
Small Business Majority Foundation Inc Washington, DC | $4,020,911 | $5,051,591 |
Black Girl Ventures Foundation Fort Belvoir, VA | $2,941,094 | $3,288,394 |
Brightbridge Inc Chattanooga, TN | $120,622,501 | $3,473,186 |
Prince Georges Financial Services Corporation Largo, MD | $6,191,541 | $2,663,412 |
National Small Business United Washington, DC | $916,029 | $2,645,028 |
Capital Region Minority Supplier Development Council Inc Silver Spring, MD | $1,993,070 | $2,779,986 |
National Institute Of Minority Economic Development Durham, NC | $8,985,701 | $1,722,745 |
Winston Starts Winstonsalem, NC | $2,039,563 | $1,547,404 |
Wilmington Business Development Wilmington, NC | $1,640,676 | $1,342,071 |
Harbor Bank Of Maryland Community Development Corporation Baltimore, MD | $1,613,507 | $752,542 |
Emerging Technology Centers Inc Baltimore, MD | $553,000 | $1,006,591 |