Form 990 for tax year 2025
Filed by VIRGINIA BEACH EVENTS UNLIMITED INC.
Totals
- Total revenue
- $2,935,581
- Total expenses
- $2,720,229
- Contributions and grants received
- $1,697,529
- Grants paid
- $37,425
- Program service revenue
- $1,199,587
- Investment income
- $65,344
- Other revenue
- -$26,879
- Total assets, end of year
- $2,168,485
- Total liabilities, end of year
- $155,229
- Net assets or fund balances, end of year
- $2,013,256
- Program services expenses (Part IX)
- $2,387,143
- Management and general expenses
- $193,321
- Fundraising expenses
- $139,765
- Program service expenses (Part III)
- $2,387,143
Program services were 87.8% 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)
$704,970
-
1f · All other contributions, gifts and grants
$992,559
-
2a · Program service revenue: Neptune Festival Events
total $1,199,587 · related or exempt $1,199,587
-
3 · Investment income
total $64,304 · related or exempt $64,304
-
6a · Gross rents
real property $39,765
-
6b · Less rental expenses
real property $66,644
-
6c · Rental income or loss
real property -$26,879
-
6d · Net rental income or loss
total -$26,879 · unrelated business -$26,879
-
7a · Gross sales of assets other than inventory
other assets $1,040
-
7c · Gain or loss
other assets $1,040
-
7d · Net gain or loss
total $1,040 · related or exempt $1,040
-
8c · Net income from fundraising events
total $0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $37,425 · program services $37,425
-
5 · Compensation of officers, directors and key employees
total $161,564 · program services $40,391 · management and general $80,782 · fundraising $40,391
-
7 · Other salaries and wages
total $479,331 · program services $308,776 · management and general $84,969 · fundraising $85,586
-
9 · Other employee benefits
total $26,893 · program services $22,859 · management and general $2,689 · fundraising $1,345
-
10 · Payroll taxes
total $48,057 · program services $40,848 · management and general $4,805 · fundraising $2,404
-
11c · Fees: accounting
total $36,000 · program services $30,600 · management and general $3,600 · fundraising $1,800
-
12 · Advertising and promotion
total $68,212 · program services $68,212
-
13 · Office expenses
total $5,721 · program services $4,863 · management and general $572 · fundraising $286
-
14 · Information technology
total $26,798 · program services $22,778 · management and general $2,680 · fundraising $1,340
-
16 · Occupancy
total $34,193 · program services $29,064 · management and general $3,419 · fundraising $1,710
-
17 · Travel
total $10,711 · program services $9,104 · management and general $1,071 · fundraising $536
-
19 · Conferences, conventions and meetings
total $17,939 · program services $15,248 · management and general $1,794 · fundraising $897
-
22 · Depreciation, depletion and amortization
total $6,586 · program services $5,598 · management and general $658 · fundraising $330
-
23 · Insurance
total $43,188 · program services $36,710 · management and general $4,319 · fundraising $2,159
-
24a · Other expenses: Dues and Subscriptions
total $13,137 · program services $11,166 · management and general $1,314 · fundraising $657
-
24b · Other expenses: Hospitality
total $2,803 · program services $2,383 · management and general $280 · fundraising $140
-
24c · Other expenses: Telephone
total $3,690 · program services $3,137 · management and general $369 · fundraising $184
-
24d · Other expenses: Direct Program Expenses
total $1,697,981 · program services $1,697,981
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $47,311 · end of year $56,233
-
2 · Savings and temporary cash investments
beginning of year $1,011,617 · end of year $1,117,621
-
4 · Accounts receivable
beginning of year $49,469 · end of year $75,000
-
8 · Inventories for sale or use
beginning of year $31,609 · end of year $22,790
-
9 · Prepaid expenses and deferred charges
beginning of year $12,394 · end of year $26,356
-
10a · Land, buildings and equipment: cost or other basis
$948,325
-
10b · Land, buildings and equipment: accumulated depreciation
$510,443
-
10c · Land, buildings and equipment, net
beginning of year $418,460 · end of year $437,882
-
15 · Other assets
beginning of year $339,513 · end of year $432,603
-
17 · Accounts payable and accrued expenses
beginning of year $31,029 · end of year $62,898
-
19 · Deferred revenue
beginning of year $81,440 · end of year $92,331
-
27 · Net assets without donor restrictions
beginning of year $1,460,911 · end of year $1,589,303
-
28 · Net assets with donor restrictions
beginning of year $336,993 · end of year $423,953
Mission and programs · 2025
Mission
To celebrate the spirit of Virginia Beach through authentic experiences that foster joy, community, and connection for all.
-
Founded in 1973, The Virginia Beach Neptune Festival is an independent 501(c)(3) organization that plans and produces special events and activities to promote economic development, enhance our regional quality of life, and celebrate the greater Hampton Roads community. The Organization partners with area businesses, civic and non-profit organizations, military and veterans organizations, and individual volunteers to deliver more than forty events and activities each year. Most of our activities are free to the public while others require admission fees and include: 1. Sporting activities to promote healthy lifestyles. 2. Arts and Cultural events. 3. Events that celebrate the community. 4. Events that provide fundraising opportunities for more than 30 civic and non-profit organizations.
Expenses $2,387,143 · Revenue $1,199,587
As filed on the 2025 return.
Listed in Part VII
-
Christopher ChopeCHRISTOPHER CHOPE
PRESIDENT & CEO
- Total calculated
- $161,000
- From this org
- $161,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $160,000
- Bonus
- $1,000
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $161,000
-
Nancy CreechNANCY CREECH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Becky SawyerBECKY SAWYER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Regina AmickREGINA AMICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Graham HerbertGRAHAM HERBERT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jeff MarksJEFF MARKS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Martha McCleesMARTHA MCCLEES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James RaynorJAMES RAYNOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Patrick ShulerPATRICK SHULER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Tonie Wallace SadlerTONIE WALLACE SADLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Alvin M WilliamsALVIN M WILLIAMS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Justin FultonJUSTIN FULTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tom Barton IIITOM BARTON III
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Adam CarrollADAM CARROLL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George MacDonaldGEORGE MACDONALD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Cheryl McLeskeyCHERYL MCLESKEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
George MelnykGEORGE MELNYK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Paul MerrittPAUL MERRITT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jim SporeJIM SPORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brian CarsonBRIAN CARSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Steve ChildsSTEVE CHILDS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Angie LoewANGIE LOEW
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mark JohnsonMARK JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James BibbsJAMES BIBBS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Taylor FranklinTAYLOR FRANKLIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Anthony VittoneANTHONY VITTONE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Katherine WillisKATHERINE WILLIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Akhil JainAKHIL JAIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Buffy BarefootBUFFY BAREFOOT
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
David BurtonDAVID BURTON
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 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 · Compensation committee
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
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
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
-
$26,425
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 14 May 2026
- IRS schema version
- 2025v4.1
- Source object
- 202601529349300615
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