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← VIRGINIA FOUNDATION FOR RESEARCH AND ECONOMIC EDUCATION INC

Form 990 for tax year 2023

Filed by VIRGINIA FOUNDATION FOR RESEARCH AND ECONOMIC EDUCATION INC.

Totals

Total revenue
$246,768
Total expenses
$246,117
Contributions and grants received
$217,325
Grants paid
$0
Program service revenue
$7,210
Investment income
$983
Other revenue
$21,250
Total assets, end of year
$73,946
Total liabilities, end of year
$3,600
Net assets or fund balances, end of year
$70,346
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 1b · Membership dues

    $132,500

  • 1f · All other contributions, gifts and grants

    $84,825

  • 2f · All other program service revenue

    total $7,210 · related or exempt $7,210

  • 3 · Investment income

    total $983 · related or exempt $983

  • 11a · Other revenue: SUPPORT FROM VAFREE FO

    total $21,250 · related or exempt $21,250

  • 11e · Other revenue, total

    $21,250

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $137,900

  • 9 · Other employee benefits

    total $17,823

  • 11c · Fees: accounting

    total $17,809

  • 11g · Fees: other

    total $899

  • 13 · Office expenses

    total $5,328

  • 14 · Information technology

    total $1,176

  • 17 · Travel

    total $151

  • 19 · Conferences, conventions and meetings

    total $60,361

  • 23 · Insurance

    total $1,234

  • 24a · Other expenses: DUES AND PUBLICATIONS

    total $2,165

  • 24b · Other expenses: BANK CHARGES

    total $1,271

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,640 · end of year $12,468

  • 2 · Savings and temporary cash investments

    beginning of year $5,744 · end of year $5,810

  • 11 · Investments: publicly traded securities

    beginning of year $49,213 · end of year $55,668

  • 25 · Other liabilities

    beginning of year $3,441 · end of year $3,600

  • 29 · Capital stock, trust principal or current funds

    beginning of year $64,156 · end of year $70,346

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

VIRGINIA FOUNDATION FOR RESEARCH AND ECONOMIC EDUCATION IS AN INDEPENDENT ASSOCIATION COMMITTED TO PROTECTING AND STRENGTHENING VIRGINIA'S PROSPEROUS BUSINESS ENVIRONMENT THROUGH THE POLITICAL PROCESS. FOUNDED IN 1988, VIRGINA FREE PROVIDES A WEALTH OF OBJECTIVE, NON-PARTISAN INFORMATION TO BUSINESS. OUR INFORMATION, SERVICES AND PROGRAMS FOSTER A BUSINESS COMMUNITY PREPARED TO TAKE THE LEAD IN ELECTING LEGISLATORS WHO ADVANCE FREE ENTERPRISE AND RESPONSIBLE, PRO-BUSINESS GOVERNMENT.

Activities or mission (Part I)

SEE STATEMENT

  • RESEARCH AND ANALYZE VOTING RECORDS OF VIRGINIA GENERAL ASSEMBLY ON ISSUES OF IMPORTANCE TO ECONOMIC DEVELOPMENT, JOB CREATION, VIRGINIA'S BUSINESS CLIMATE AND CITIZEN'S PROSPERITY. RESEARCH REPORT PUBLISHED AND DISTRIBUTED TO 5,000 INDIVIDUALS, CORPORATIONS, AND TRADE ASSOCIATIONS TO ASSIST IN EVALUATION OF LEGISLATIVE ISSUES AND FUTURE CONCERNS FOR BUSINESS AND INDUSTRY.

  • RESEARCH AND ANALYZE ALL 140 LEGISLATIVE DISTRICTS AND 11 CONGRESSIONAL DISTRICTS IN VIRGINIA INCLUDING DEMOGRAPHIC STATISTICS PROVIDED BY THE U.S. CENSUS BUREAU, ACTUAL ELECTION RETURNS BY DISTRICT OVER A 10-YEAR PERIOD, ECONOMIC AND EMPLOYMENT STATISTICS, AND POPULATION VARIABLES. RESULTING REPORTS PRESENT SCIENTIFIC ANALYSES OF VIRGINIA'S POLITICAL JURISDICTIONS TO PINPOINT OPPORTUNITIES FOR ECONOMIC GROWTH AND DEVELOPMENT AS WELL AS AN ASSESSMENT OF THE RELATIVE POLITICAL STRENGTH OF BUSINESS AND INDUSTRY AND FREE-ENTERPRISE ORIENTED CANDIDATES.

  • CONDUCT MULTIPLE LEADERSHIP FORUMS FOR MORE THAN 1,000 TOP LEADERS IN BUSINESS, INDUSTRY, GOVERNMENT, COMMUNITY AFFAIRS, EDUCATION AND POLITICS THROUGHOUT VIRGINIA. THESE EVENTS OFFER UNIQUE OPPORTUNITIES FOR THE EXCHANGE OF IMPORTANT IDEAS, OBJECTIVES AND POLICY INITIATIVES WITH THE GOAL OF ENHANCING VIRGINIA'S ECONOMIC VITALITY, BUSINESS PROSPERITY AND RESPONSIBLE GOVERNMENT.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JAY ADAMS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHRISTOPHER B SAXMAN

    EXECUTIVE DIRECTOR

    Total calculated
    $142,200
    From this org
    $135,000
    From related orgs
    $0
    Other
    $7,200
    Hours/week
    40 + 2 related

  • BENJAMIN DESSART

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BERT DOBSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRIAN MORGAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LAURA NOVEY

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • JIM FRAZER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TODD HAYMORE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DORCAS HELFANT-BROWNING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRUCE JENNINGS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARTIN KENT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ELIZABETH KERSEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PAUL LAWRENCE

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • ESTHER LEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHEP MILLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TOM MINNICK

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • CRAIG PARISOT

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • NICOLE BARRANCO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRYAN STEPHENS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KEN STOLLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GARY THOMSON

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • DANNY VARGAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS J HARRISON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BLUE JENKINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TODD STOTTLEMYER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • LARRY ROBERTS

    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.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 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

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
2023
Filed
1 November 2024
IRS schema version
2023v5.1
Source object
202423209349328172

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