Form 990 for tax year 2022
Filed by VIRGINIA BEACH CITY PUBLIC SCHOOLS EDUCATION FOUNDATION INC.
Totals
- Total revenue
- $594,620
- Total expenses
- $736,796
- Contributions and grants received
- $590,605
- Grants paid
- $14,700
- Program service revenue
- $0
- Investment income
- $21,392
- Other revenue
- -$17,377
- Total assets, end of year
- $2,952,483
- Total liabilities, end of year
- $101,166
- Net assets or fund balances, end of year
- $2,851,317
- Program services expenses (Part IX)
- $703,965
- Management and general expenses
- $32,831
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $703,965
Program services were 95.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$590,605
-
1g · Noncash contributions included above
$6,253
-
3 · Investment income
total $74,657 · excluded $74,657
-
7a · Gross sales of assets other than inventory
securities $1,201,977 · other assets $1,057
-
7b · Less cost or other basis and sales expenses
securities $1,255,806 · other assets $493
-
7c · Gain or loss
securities -$53,829 · other assets $564
-
7d · Net gain or loss
total -$53,265 · related or exempt $564 · excluded -$53,829
-
8a · Fundraising events: gross income
$56,612
-
8b · Fundraising events: direct expenses
$75,914
-
8c · Net income from fundraising events
total -$19,302 · excluded -$19,302
-
11a · Other revenue: CREDIT CARD REWARDS
total $1,925 · related or exempt $1,925
-
11e · Other revenue, total
$1,925
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $14,700 · program services $14,700
-
11b · Fees: legal
total $2,291 · management and general $2,291
-
11c · Fees: accounting
total $11,750 · management and general $11,750
-
11f · Fees: investment management
total $3,946 · management and general $3,946
-
12 · Advertising and promotion
total $2,126 · program services $2,126
-
13 · Office expenses
total $18,441 · program services $3,597 · management and general $14,844
-
24a · Other expenses: SUSTAINABLE ENERGY COURSE
total $250,000 · program services $250,000
-
24b · Other expenses: INNOVATIVE LEARNING AWARD
total $226,039 · program services $226,039
-
24c · Other expenses: BEACH BAGS PROGRAM EXP
total $193,237 · program services $193,237
-
24d · Other expenses: MY FRIENDS CLOSET PROGRAM
total $13,518 · program services $13,518
-
24e · All other expenses
total $748 · program services $748
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $585,028 · end of year $378,471
-
3 · Pledges and grants receivable
beginning of year $44,734 · end of year $74,517
-
4 · Accounts receivable
beginning of year $1,175
-
11 · Investments: publicly traded securities
beginning of year $2,187,233 · end of year $2,293,188
-
15 · Other assets
beginning of year $114,706 · end of year $206,307
-
17 · Accounts payable and accrued expenses
beginning of year $1,442
-
18 · Grants payable
beginning of year $4,000 · end of year $5,000
-
19 · Deferred revenue
beginning of year $16,833 · end of year $16,166
-
24 · Unsecured notes and loans payable
beginning of year $80,000 · end of year $80,000
-
27 · Net assets without donor restrictions
beginning of year $2,348,306 · end of year $2,411,755
-
28 · Net assets with donor restrictions
beginning of year $482,295 · end of year $439,562
Mission and programs · 2022
Mission
TO MAKE A DIFFERENCE IN THE EPUBLIC SCHOOLS OF VIRGINIA BEACH BY RAISING PRIVATE SECTOR SUPPORT TO FUND INNOVATIVE AND CREATIVE LEARNING PROGRAMS AND TO REWARD EDUCATIONAL EXELLENCE USING GRANTS TO HELP SUPPORT PILOT PROGRAMS RUN BY THE SCHOOL SYSTEM EDUCATORS.
-
Withheld by Nonprofiteer: this text may name a private individual.
Expenses $482,510
-
SCHOLARSHIPS - THE VIRGINIA BEACH EDUCATION FOUNDATION (VBEF) MANGES RESTRICTED FUNDS FOR THE PURPOSE OF AWARDING SCHOLARSHIPS TO GRADUATING SENIORS IN VIRGINIA BEACH CITY PUBLIC SCHOOLS (VBCPS). IN THE CURRENT YEAR 10 SCHOLARSHIPS WERE AWARDED.
Expenses $14,700 · Grants $14,700
-
STUDENT SUPPORT - THE BEACH BAGS PROGRAM, WHICH PROVIDEDS SHELF-STABLE FOOD TO VIRGINIA BEACH PUBLIC SCHOOL STUDENTS IN NEED OF FOOD DURING WEEKENDS AND HOLIDAYS, IS A PROGRAM FOR WHICH FUNDS ARE RESTRICTED THROUGH THE FOUNDATION. MY FRIEND'S CLOSET PROVIDES CLOTHING TO VIRGINIA BEACH PUBLIC SCHOOL STUDENTS IN NEED. ADDITIONAL RESTRICTED FUNDING DESIGNATED BY DONORS ARE ALSO MADE TO BENEFIT VIRGINIA BEACH STUDENTS.
Expenses $206,755
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.
Listed in Part VII
-
Debbie HughesDEBBIE HUGHES
COORDINATOR
- Total calculated
- $0
- Hours/week
- 40
-
Kevin HillKEVIN HILL
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Will MoralezWILL MORALEZ
PRESIDENT EL
- Total calculated
- $0
- Hours/week
- 2
-
John MazachJOHN MAZACH
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Monica CurryMONICA CURRY
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Robert BroermannROBERT BROERMANN
PAST PRESIDE
- Total calculated
- $0
- Hours/week
- 2
-
Jon AbrahamsJON ABRAHAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Morgan AlbistonMORGAN ALBISTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Tony ArnoldTONY ARNOLD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Justin BallardJUSTIN BALLARD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Tom BarringerTOM BARRINGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Rob BerzROB BERZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Daniel EdwardsDANIEL EDWARDS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Joe FlanaganJOE FLANAGAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Christine GustafsonCHRISTINE GUSTAFSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Sheila MagulaSHEILA MAGULA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Amy MallinsonAMY MALLINSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Debbie NadiranDEBBIE NADIRAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Robyn NissROBYN NISS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Skip TempletonSKIP TEMPLETON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
VIRGINIA BEACH CITY PUBLIC SCHOOLS
GOV · EDUCATION · VA
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
THSB LLC
EDUCATION · VA
Directly controlled by VBCPSEF
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 5 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400619349300085
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