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← SMALL BUSINESS DEVELOPMENT CENTER OF HAMPTON ROADS INC

Form 990 for tax year 2024

Filed by SMALL BUSINESS DEVELOPMENT CENTER OF HAMPTON ROADS INC.

Totals

Total revenue
$545,861
Total expenses
$530,935
Contributions and grants received
$543,505
Grants paid
$0
Program service revenue
$0
Investment income
$2,356
Other revenue
$0
Total assets, end of year
$355,301
Total liabilities, end of year
$68,159
Net assets or fund balances, end of year
$287,142
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 1e · Government grants (contributions)

    $542,130

  • 1f · All other contributions, gifts and grants

    $1,375

  • 3 · Investment income

    total $2,356 · excluded $2,356

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $368,691

  • 8 · Pension plan contributions

    total $20,190

  • 9 · Other employee benefits

    total $24,617

  • 10 · Payroll taxes

    total $28,343

  • 11c · Fees: accounting

    total $7,450

  • 11g · Fees: other

    total $54,179

  • 13 · Office expenses

    total $2,801

  • 17 · Travel

    total $7,918

  • 19 · Conferences, conventions and meetings

    total $533

  • 23 · Insurance

    total $520

  • 24a · Other expenses: PROGRAMS

    total $12,960

  • 24b · Other expenses: TELEPHONE

    total $1,767

  • 24c · Other expenses: WEBSITE HOSTING

    total $326

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $244

  • 24e · All other expenses

    total $396

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $125,455 · end of year $36,900

  • 4 · Accounts receivable

    beginning of year $179,942 · end of year $318,401

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,381 · end of year $65,746

  • 19 · Deferred revenue

    beginning of year $7,800 · end of year $2,413

  • 27 · Net assets without donor restrictions

    beginning of year $272,216 · end of year $287,142

Mission and programs · 2024

Mission

TO FOSTER SMALL BUSINESS SUCCESS AND GROW THE REGION'S ECONOMY.

  • COORDINATING AND ENCOURAGING THE DEVELOPMENT OF SMALL BUSINESSES IN THE HAMPTON ROADS AREA.

As filed on the 2024 return.

Listed in Part VII

  • Bryan Stephens

    PRESIDENT AN

    Total calculated
    $420,007
    From this org
    $0
    From related orgs
    $392,400
    Other
    $27,607
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $350,000 related
    Bonus
    not reported + $37,000 related
    Other
    not reported + $5,400 related
    Deferred
    not reported + $27,607 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $420,007 related

  • Sylvia Haines

    SECRETARY

    Total calculated
    $156,767
    From this org
    $0
    From related orgs
    $140,000
    Other
    $16,767
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $130,000 related
    Bonus
    not reported + $10,000 related
    Other
    not reported
    Deferred
    not reported + $16,767 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $156,767 related

  • Pratik Kothari

    CHAIR

    Total calculated
    $0
    Hours/week
    0.3

  • Jolie Spiers

    CENTER DIREC

    Total calculated
    $131,907
    From this org
    $117,000
    From related orgs
    $0
    Other
    $14,907
    Hours/week
    40

  • Jody A Keenan

    EX OFFICIO M

    Total calculated
    $0
    Hours/week
    0.3

  • Jeff Richardson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • George Marquez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Written employment contract

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
11 November 2025
IRS schema version
2024v5.0
Source object
202543169349307059

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