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Nonprofiteer
← THE SOUTHEAST VIRGINIA COMMUNITY FOUNDATION

Form 990 for tax year 2023

Filed by THE SOUTHEAST VIRGINIA COMMUNITY FOUNDATION.

Totals

Total revenue
$267,674
Total expenses
$1,249,304
Contributions and grants received
$382,232
Grants paid
$960,549
Program service revenue
$0
Investment income
-$332,830
Other revenue
$218,272
Total assets, end of year
$16,891,410
Total liabilities, end of year
$1,838,135
Net assets or fund balances, end of year
$15,053,275
Program services expenses (Part IX)
$1,194,608
Management and general expenses
$44,610
Fundraising expenses
$10,086
Program service expenses (Part III)
$1,194,608

Program services were 95.6% 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

    $382,232

  • 1g · Noncash contributions included above

    $500

  • 3 · Investment income

    total $204,180 · excluded $204,180

  • 7a · Gross sales of assets other than inventory

    securities $7,614,666 · other assets $222,138

  • 7b · Less cost or other basis and sales expenses

    securities $8,113,831 · other assets $259,983

  • 7c · Gain or loss

    securities -$499,165 · other assets -$37,845

  • 7d · Net gain or loss

    total -$537,010 · related or exempt -$759,148 · excluded $222,138

  • 11a · Other revenue: ADMINISTRATIVE FEE INCOME

    total $218,272 · excluded $218,272

  • 11e · Other revenue, total

    $218,272

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $884,519 · program services $884,519

  • 2 · Grants to domestic individuals

    total $76,030 · program services $76,030

  • 5 · Compensation of officers, directors and key employees

    total $81,000 · program services $64,800 · management and general $12,150 · fundraising $4,050

  • 7 · Other salaries and wages

    total $75,150 · program services $60,121 · management and general $11,272 · fundraising $3,757

  • 9 · Other employee benefits

    total $33,648 · program services $26,919 · management and general $5,047 · fundraising $1,682

  • 10 · Payroll taxes

    total $11,939 · program services $9,551 · management and general $1,791 · fundraising $597

  • 11b · Fees: legal

    total $816 · program services $653 · management and general $163

  • 11c · Fees: accounting

    total $8,000 · program services $6,400 · management and general $1,600

  • 11g · Fees: other

    total $3,235 · program services $2,588 · management and general $647

  • 12 · Advertising and promotion

    total $4,164 · program services $4,164

  • 13 · Office expenses

    total $945 · program services $756 · management and general $189

  • 14 · Information technology

    total $18,546 · program services $14,837 · management and general $3,709

  • 16 · Occupancy

    total $12,629 · program services $10,103 · management and general $2,526

  • 17 · Travel

    total $15 · management and general $15

  • 19 · Conferences, conventions and meetings

    total $1,023 · program services $818 · management and general $205

  • 22 · Depreciation, depletion and amortization

    total $13,425 · program services $10,740 · management and general $2,685

  • 23 · Insurance

    total $2,676 · program services $2,408 · management and general $268

  • 24a · Other expenses: SPONSORSHIPS

    total $10,200 · program services $10,200

  • 24b · Other expenses: MEMBERSHIP DUES

    total $2,850 · program services $2,280 · management and general $570

  • 24c · Other expenses: SUPPLIES

    total $2,509 · program services $2,007 · management and general $502

  • 24d · Other expenses: REPAIRS

    total $1,984 · program services $1,587 · management and general $397

  • 24e · All other expenses

    total $4,001 · program services $3,127 · management and general $874

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $100 · end of year $100

  • 2 · Savings and temporary cash investments

    beginning of year $764,431 · end of year $1,498,461

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,352 · end of year $4,689

  • 10a · Land, buildings and equipment: cost or other basis

    $82,657

  • 10b · Land, buildings and equipment: accumulated depreciation

    $70,663

  • 10c · Land, buildings and equipment, net

    beginning of year $274,912 · end of year $11,994

  • 11 · Investments: publicly traded securities

    beginning of year $14,252,999 · end of year $15,376,166

  • 17 · Accounts payable and accrued expenses

    beginning of year $584 · end of year $609

  • 25 · Other liabilities

    beginning of year $1,640,116 · end of year $1,837,526

  • 27 · Net assets without donor restrictions

    beginning of year $1,641,418 · end of year $1,690,296

  • 28 · Net assets with donor restrictions

    beginning of year $12,014,676 · end of year $13,362,979

Mission and programs · 2023

Mission

SEVACF ENHANCES THE QUALITY OF THE LIFE IN SOUTH HAMPTON ROADS BY CONNECTING PEOPLE WHO CARE WITH CAUSES LARGE AND SMALL, MANAGING CHARITABLE FUNDS, AND PROVIDING GRANTS AND SCHOLARSHIPS FOR (CONTINUED ON SCHEDULE O)

  • THE FOUNDATION MAKES GRANTS TO NONPROFIT ORGANIZATIONS IN THE CHARITABLE AREAS OF ARTS & CULTURE, CAPITAL & OPERATING SUPPORT, EDUCATION; HEALTH AND HUMAN SERVICES; CIVIC AND ECONOMIC DEVELOPMENT; AND RELIGIOUS. GRANTS ARE SUGGESTED BY FUND ADVISORS, ARE MADE FROM DESIGNATED OR FIELD OF INTEREST FUNDS, OR ARE RECOMMENDED AND APPROVED BY THE BOARD OF DIRECTORS FROM THE COMMUNITY NEEDS FUND (DISCRETIONARY FUNDS FROM UNRESTRICTED DOLLARS.)

    Expenses $884,519 · Grants $884,519

  • THE FOUNDATION ADMINISTERS 24 SCHOLARSHIP FUNDS AND ANNUALLY HOLDS A CELEBRATION INVITING BOARD MEMBERS, ADVISORY BOARD MEMBERS, SCHOLARSHIP DONORS, AWARDEES AND THIER FAMILY MEMBERS. THE SCHOLARSHIP RECEPTION WAS NOT HELD IN 2023.

    Expenses $76,030 · Grants $76,030

  • DONOR EDUCATION AND OTHER PROGRAMS

    Expenses $234,059

As filed on the 2023 return.

Listed in Part VII

  • Amy W Folkes

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Timothy S Culpepper

    PAST PRES.

    Total calculated
    $0
    Hours/week
    3

  • Richard E H Wentz

    CEO

    Total calculated
    $81,000
    From this org
    $81,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Stephen Korving

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    3

  • Michelle Butler

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • Carl L Hardee

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Charles G Hackworth Sr

    OFFICER

    Total calculated
    $0
    Hours/week
    3

  • Thomas E Wood

    OFFICER

    Total calculated
    $0
    Hours/week
    3

  • Carolyn Bernard

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Doris Cobb

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bett Cornetta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ashton Lewis Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Scott Matheson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dr Joe Rampersad

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Emily Robbins

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Clay Robertson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
18 June 2024
IRS schema version
2023v5.0
Source object
202432399349300333

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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