Form 990 for tax year 2023
Filed by SOUTHERN VIRGINIA HIGHER EDUCATION FOUNDATION INC.
Totals
- Total revenue
- $1,108,803
- Total expenses
- $1,161,276
- Contributions and grants received
- $88,888
- Grants paid
- $0
- Program service revenue
- $692,460
- Investment income
- $327,455
- Other revenue
- $0
- Total assets, end of year
- $18,438,663
- Total liabilities, end of year
- $321,679
- Net assets or fund balances, end of year
- $18,116,984
- Program services expenses (Part IX)
- $800,618
- Management and general expenses
- $304,512
- Fundraising expenses
- $56,146
- Program service expenses (Part III)
- $800,618
Program services were 68.9% 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
$88,888
-
1g · Noncash contributions included above
$17,096
-
2a · Program service revenue: FACILITY RENTAL INCOME
total $692,460 · related or exempt $692,460
-
3 · Investment income
total $327,455 · related or exempt $327,455
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $127,984 · program services $42,235 · management and general $55,033 · fundraising $30,716
-
13 · Office expenses
total $20,967 · program services $10,164 · management and general $6,470 · fundraising $4,333
-
17 · Travel
total $1,476 · management and general $1,476
-
20 · Interest
total $12,737 · management and general $12,737
-
22 · Depreciation, depletion and amortization
total $597,956 · program services $405,750 · management and general $192,206
-
23 · Insurance
total $37,788 · program services $37,788
-
24a · Other expenses: MAINTENANCE
total $176,128 · program services $176,128
-
24b · Other expenses: SCHOLARSHIP
total $73,574 · program services $73,574
-
24c · Other expenses: EDUCATIONAL INITIATIVES
total $54,953 · program services $54,953
-
24d · Other expenses: OTHER PROFESSIONAL SERV
total $45,400 · management and general $34,050 · fundraising $11,350
-
24e · All other expenses
total $12,313 · program services $26 · management and general $2,540 · fundraising $9,747
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $147,344 · end of year $545,022
-
2 · Savings and temporary cash investments
beginning of year $519,519 · end of year $595,777
-
10a · Land, buildings and equipment: cost or other basis
$24,549,716
-
10b · Land, buildings and equipment: accumulated depreciation
$9,166,218
-
10c · Land, buildings and equipment, net
beginning of year $15,597,256 · end of year $15,383,498
-
11 · Investments: publicly traded securities
beginning of year $2,180,383 · end of year $1,872,031
-
15 · Other assets
beginning of year $42,335 · end of year $42,335
-
17 · Accounts payable and accrued expenses
beginning of year $94,827 · end of year $22,074
-
25 · Other liabilities
beginning of year $367,293 · end of year $299,605
-
27 · Net assets without donor restrictions
beginning of year $17,227,337 · end of year $17,371,876
-
28 · Net assets with donor restrictions
beginning of year $797,380 · end of year $745,108
Mission and programs · 2023
Mission
TO PROMOTE AND ENHANCE CONTINUING EDUCATIONAL OPPORTUNITIES FOR THE CITIZENS OF HALIFAX COUNTY, VA AND THE SURROUNDING AREAS.
-
MAINTENANCE, PURCHASE, ADMINISTRATION AND OTHER EXPENSES FOR THE OPERATION OF THE BUILDINGS AND GROUNDS LEASED TO THE SOUTHERN VIRGINIA HIGHER EDUCATION CENTER TO ENHANCE AND PROMOTE EDUCATIONAL OPPORTUNITIES. MAINTENANCE, REPAIRS AND, ADMINISTRATION FOR THE BUILDING LEASED TO COMMUNITY ARTS CENTER FOUNDATION (CACF). PROGRAM ACCOMPLISHMENTS INCLUDE GRANTS/DONATION OF EQUIPMENT TO THE SOUTHERN VIRGINIA HIGHER EDUCATION CENTER.
Expenses $800,618
As filed on the 2023 return.
Listed in Part VII
-
The Hon Ww Ted BennettTHE HON WW TED BENNETT
DIRECTOR
- Total calculated
- $0
-
Brian BurtonBRIAN BURTON
SECRETARY
- Total calculated
- $0
-
John R CannonJOHN R CANNON
DIRECTOR
- Total calculated
- $0
-
Ned CovingtonNED COVINGTON
DIRECTOR
- Total calculated
- $0
-
Jeffrey L DavisJEFFREY L DAVIS
TREASURER
- Total calculated
- $0
-
Sterling EdmundsSTERLING EDMUNDS
DIRECTOR
- Total calculated
- $0
-
Jayne Pennington ElliottJAYNE PENNINGTON ELLIOTT
DIRECTOR
- Total calculated
- $0
-
Kristy JohnsonKRISTY JOHNSON
DIRECTOR
- Total calculated
- $0
-
Ben J Davenport JrBEN J DAVENPORT JR
DIRECTOR
- Total calculated
- $0
-
Dawn MillerDAWN MILLER
DIRECTOR
- Total calculated
- $0
-
Linda OwenLINDA OWEN
DIRECTOR
- Total calculated
- $0
-
Edward OwensEDWARD OWENS
DIRECTOR
- Total calculated
- $0
-
Hubert PannellHUBERT PANNELL
DIRECTOR
- Total calculated
- $0
-
Monica PoundsMONICA POUNDS
PRESIDENT
- Total calculated
- $0
-
Rebecca SaundersREBECCA SAUNDERS
DIRECTOR
- Total calculated
- $0
-
Darden SmithDARDEN SMITH
DIRECTOR
- Total calculated
- $0
-
Patricia WalkerPATRICIA WALKER
VICE PRESIDE
- Total calculated
- $0
-
Dennis WittDENNIS WITT
DIRECTOR
- Total calculated
- $0
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 8 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202541349349306914
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