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Nonprofiteer
← FOUNDATION REALTY

Form 990 for tax year 2022

Filed by FOUNDATION REALTY.

Totals

Total revenue
$762,437
Total expenses
$766,147
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$762,437
Other revenue
$0
Total assets, end of year
$1,862,370
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$1,862,370
Program services expenses (Part IX)
$762,000
Management and general expenses
$4,147
Fundraising expenses
$0
Program service expenses (Part III)
$762,000

Program services were 99.5% 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.

  • 3 · Investment income

    total $762,437 · excluded $762,437

Functional expenses

Part IX, the statement of functional expenses.

  • 24a · Other expenses: FUNDS TO SUPPORTED ORG

    total $762,000 · program services $762,000

  • 24b · Other expenses: LICENSES AND FEES

    total $4,147 · management and general $4,147

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $516 · end of year $109,370

  • 12 · Investments: other securities

    beginning of year $1,753,000 · end of year $1,753,000

  • 27 · Net assets without donor restrictions

    beginning of year $1,753,516 · end of year $1,862,370

Mission and programs · 2022

Mission

TO ACCEPT AND CONVERT CONTRIBUTIONS OF REAL PROPERTY TO OTHER INVESTMENT ASSETS FOR THE BENEFIT OF THE SUPPORTED ORGANIZATION'S CHARITABLE PURPOSE.

  • TO ACCEPT AND CONVERT CONTRIBUTIONS OF REAL PROPERTY TO OTHER INVESTMENT ASSETS FOR THE BENEFIT OF THE SUPPORTED ORGANIZATION'S CHARITABLE PURPOSE.

    Expenses $762,000

As filed on the 2022 return.

Listed in Part VII

  • Frank Batten Jr

    DIRECTOR & VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Ld Britt MD

    DIRECTOR & TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Dawn S Glynn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Thomas R Frantz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Miles Leon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Deborah M Dicroce

    PRESIDENT, SECRETARY & CEO

    Total calculated
    $383,648
    From this org
    $0
    From related orgs
    $364,645
    Other
    $19,003
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $364,645 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $19,003 related
    Filer's total
    $0 + $383,648 related

  • Howard P Kern

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Sharon S Goodwyn

    DIRECTOR & CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Suzanne Puryear

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Lemuel E Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Cynthia C Romero MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Rony Thomas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • James A Squires

    DIRECTOR & PAST CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Joan P Brock

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Hon Jerrauld D Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Richard Matthews

    CFO

    Total calculated
    $196,609
    From this org
    $0
    From related orgs
    $184,625
    Other
    $11,984
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,625 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $11,984 related
    Filer's total
    $0 + $196,609 related

  • Kay A Stine

    VICE PRESIDENT OF DEVELOPM

    Total calculated
    $156,868
    From this org
    $0
    From related orgs
    $147,400
    Other
    $9,468
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $147,400 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $9,468 related
    Filer's total
    $0 + $156,868 related

  • Linda M Rice

    VICE PRESIDENT OF GRANT MA

    Total calculated
    $212,012
    From this org
    $0
    From related orgs
    $199,371
    Other
    $12,641
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,371 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $12,641 related
    Filer's total
    $0 + $212,012 related

  • Robin Foreman-Wheeler

    VICE PRESIDENT FOR ADMINIS

    Total calculated
    $164,598
    From this org
    $0
    From related orgs
    $146,500
    Other
    $18,098
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,500 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $18,098 related
    Filer's total
    $0 + $164,598 related

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART II:
THE ABOVE ARE EMPLOYED BY HAMPTON ROADS COMMUNITY FOUNDATION, THE ORGANIZATION SUPPORTED BY FOUNDATION REALTY. THE INDIVIDUALS SERVE BOTH ENTITIES.

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
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202343179349306809

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