Virginia Foundation For Public Media
- Assets
- $185.4m
- Revenue
- $5.0m
- Investments
- $45.3m
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 09/2018
- Data as of
- 06/2021
- EIN
- 82-2118572
Organization Overview
Virginia Foundation For Public Media is located in Richmond, VA. The organization was established in 2018. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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 Foundation For Public Media 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, Virginia Foundation For Public Media generated $5.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (57.9%) each year. All expenses for the organization totaled $7.6m during the year ending 06/2021. 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
THE FOUNDATION WORKS TO FOSTER, PROMOTE AND SUPPORT PUBLIC MEDIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VIRGINIA FOUNDATION FOR PUBLIC MEDIA ("VFPM") IS ORGANIZED FOR THE PURPOSE OF FOSTERING AND PROMOTING PUBLIC MEDIA BY SERVING AS THE PARENT OF AN INTEGRATED SYSTEM INCLUDING VPM MEDIA CORPORATION AND SUPPORTING ACTIVITIES THAT CARRY OUT THE CHARITABLE AND EDUCATIONAL PURPOSES OF VPM MEDIA CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tanya Ross Director | OfficerTrustee | 1 | $0 |
Cynthia Bailey Chair | OfficerTrustee | 1 | $0 |
Philip Goodpasture Vice-Chair | OfficerTrustee | 2 | $0 |
Jayme Swain CEO And President | Officer | 1 | $0 |
Gary Ometer CFO | Officer | 1 | $0 |
Daniel Smythe Chief Investment Officer | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
David Ern Development Consultant Services | 6/29/20 | $151,373 |
University Of Virginia Office Of Sponso Production Services | 6/29/20 | $224,602 |
University Of Virginia Office Of Sponso Production Services | 6/29/20 | $224,602 |
David Ern Development Consultant Services | 6/29/20 | $151,373 |
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 | $0 |
| Investment income | $2,211,415 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,813,948 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,025,363 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,910,570 |
| 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 | $21,829 |
| Fees for services: Accounting | $51,724 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $239,977 |
| Fees for services: Other | $85,000 |
| Advertising and promotion | $0 |
| Office expenses | $3,460 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,002 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,378 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,475 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,630,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $328,098 |
| Savings and temporary cash investments | $10,078,960 |
| 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 | $2,572 |
| Investments—publicly traded securities | $129,540,840 |
| Investments—other securities | $45,346,233 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,956 |
| Total assets | $185,376,659 |
| Accounts payable and accrued expenses | $3,411 |
| Grants payable | $454,620 |
| 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 | $458,031 |
| Net assets without donor restrictions | $184,918,628 |
| 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 | $185,376,659 |
Grants Awarded
Over the last fiscal year, Virginia Foundation For Public Media has awarded $3,758,901 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Richmond, VA PURPOSE: TO ADVANCE THE ORGANIZATION'S PURPOSE AS A PUBLIC MEDIA OUTLET | $3,698,281 |
Charlottesville, VA PURPOSE: MARKET, RECORD AND STREAM EVENT ACTIVITIES TO A WIDER PUBLIC | $60,620 |
Endowment Analysis
| Beg. Balance | $155,316,792 |
| Earnings | $36,992,312 |
| Admin Expense | $2,075,394 |
| Grants | $5,315,082 |
| Ending Balance | $184,918,628 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Npr Foundation Washington, DC | $410,006,391 | $31,919,786 |
Pbs Foundation Arlington, VA | $37,997,942 | $17,786,379 |
North Carolina Museum Of Art Foundation Inc Raleigh, NC | $80,876,506 | $13,828,837 |
Virginia Foundation For Public Media Richmond, VA | $185,376,659 | $5,025,363 |
Commonwealth Fund For Ket Inc Lexington, KY | $35,205,433 | $8,912,254 |
Memphis Brooks Museum Of Art Inc Memphis, TN | $44,232,792 | $7,821,496 |
Marbles Kids Museum Raleigh, NC | $8,790,326 | $3,967,863 |
Friends Of Nc State Museum Of Natural Sciences Raleigh, NC | $9,967,287 | $3,956,524 |
Centennial Park Conservancy Nashville, TN | $5,267,235 | $2,768,009 |
Mpt Foundation Inc Owings Mills, MD | $15,645,200 | $7,324,843 |
Jefferson Center Foundation Ltd Roanoke, VA | $24,079,593 | $2,456,793 |
Frist Art Museum Foundation Nashville, TN | $70,216,759 | $5,732,814 |