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Nonprofiteer
← GREATER RICHMOND PARTNERSHIP INC

Form 990 for tax year 2023

Filed by GREATER RICHMOND PARTNERSHIP INC.

Totals

Total revenue
$2,975,082
Total expenses
$3,304,399
Contributions and grants received
$2,743,901
Grants paid
$0
Program service revenue
$0
Investment income
$230,501
Other revenue
$680
Total assets, end of year
$5,245,256
Total liabilities, end of year
$1,420,425
Net assets or fund balances, end of year
$3,824,831
Program services expenses (Part IX)
$2,525,314
Management and general expenses
$599,290
Fundraising expenses
$179,795
Program service expenses (Part III)
$2,525,314

Program services were 76.4% 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)

    $1,732,486

  • 1f · All other contributions, gifts and grants

    $1,011,415

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $81,724 · excluded $81,724

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $562,546 · other assets $1,644

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

    securities $415,413

  • 7c · Gain or loss

    securities $147,133 · other assets $1,644

  • 7d · Net gain or loss

    total $148,777 · excluded $148,777

  • 11a · Other revenue: miscellaneous income

    total $680 · excluded $680

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $680

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $556,822 · program services $413,661 · management and general $143,161

  • 7 · Other salaries and wages

    total $841,958 · program services $641,655 · management and general $118,069 · fundraising $82,234

  • 8 · Pension plan contributions

    total $80,318 · program services $60,777 · management and general $11,314 · fundraising $8,227

  • 9 · Other employee benefits

    total $218,800 · program services $167,573 · management and general $35,073 · fundraising $16,154

  • 10 · Payroll taxes

    total $100,156 · program services $75,721 · management and general $18,146 · fundraising $6,289

  • 11c · Fees: accounting

    total $34,175 · management and general $34,175

  • 11f · Fees: investment management

    total $13,227 · management and general $13,227

  • 11g · Fees: other

    total $4,407 · program services $0 · management and general $4,407 · fundraising $0

  • 13 · Office expenses

    total $72,834 · program services $29,134 · management and general $40,787 · fundraising $2,913

  • 16 · Occupancy

    total $102,752 · management and general $102,752

  • 19 · Conferences, conventions and meetings

    total $42,864 · program services $21,432 · management and general $10,716 · fundraising $10,716

  • 22 · Depreciation, depletion and amortization

    total $76,872 · program services $38,436 · management and general $19,218 · fundraising $19,218

  • 23 · Insurance

    total $17,679 · program services $7,072 · management and general $9,900 · fundraising $707

  • 24a · Other expenses: Domestic Business Development

    total $404,499 · program services $404,499

  • 24b · Other expenses: Marketing Support

    total $315,641 · program services $315,641

  • 24c · Other expenses: Research Support Activities

    total $209,849 · program services $209,849

  • 24d · Other expenses: International Business Development

    total $89,069 · program services $89,069

  • 24e · All other expenses

    total $122,477 · program services $50,795 · management and general $38,345 · fundraising $33,337

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,335,184 · end of year $1,589,033

  • 2 · Savings and temporary cash investments

    beginning of year $85,289 · end of year $68,260

  • 3 · Pledges and grants receivable

    beginning of year $1,477,538 · end of year $824,086

  • 4 · Accounts receivable

    beginning of year $879 · end of year $1,823

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $89,983 · end of year $48,465

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

    $682,088

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

    $179,815

  • 10c · Land, buildings and equipment, net

    beginning of year $558,061 · end of year $502,273

  • 11 · Investments: publicly traded securities

    beginning of year $1,253,936 · end of year $1,501,893

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $766,364 · end of year $709,423

  • 17 · Accounts payable and accrued expenses

    beginning of year $320,126 · end of year $354,764

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $1,155,610 · end of year $1,065,661

  • 27 · Net assets without donor restrictions

    beginning of year $4,040,347 · end of year $3,780,489

  • 28 · Net assets with donor restrictions

    beginning of year $51,151 · end of year $44,342

Mission and programs · 2023

Mission

GRP's mission is to aggressively generate economic opportunities that create quality jobs for residents in the region and increase the tax base for needed community services.

Activities or mission (Part I)

GRP'S PURPOSE IS TO PROMOTE THE ECONOMIC DEVELOPMENT OF THE RICHMOND METROPOLITAN AREA IN COOPERATION WITH MEMBER LOCAL GOVERNMENTS. MORE SPECIFICALLY, GRP'S PURPOSE IS TO (I) ATTRACT NEW BUSINESSES AND INDUSTRIES WITHIN THE JURISDICTION OF THE MEMBER LOCAL GOVERNMENTS, (II) RETAIN EXISTING BUSINESSES AND INDUSTRIES WITHIN THE JURISDICTIONS OF THE MEMBER LOCAL GOVERNMENTS AND (III) FACILITATE THE LOCATION OF NEW BUSINESSES AND INDUSTRIES, AND THE EXPANSION AND REDEVELOPMENT OF EXISTING BUSINESSES AND INDUSTRIES, WITHIN THE JURISDICTIONS OF THE MEMBER LOCAL GOVERNMENTS.

  • The Greater Richmond Partnership impacts the region through wealth creation, direct, indirect, and induced jobs, and direct, indirect, and induced wages.

    Expenses $2,525,314

As filed on the 2023 return.

Listed in Part VII

  • Bobby Ukrop

    Chair Elect

    Total calculated
    $0
    Hours/week
    5

  • Charlene Whitfield

    Chair

    Total calculated
    $0
    Hours/week
    5

  • Cynthia Newbille

    Immediate Past Chair

    Total calculated
    $0
    Hours/week
    1

  • Jody Rogish

    Vice Chair

    Total calculated
    $0
    Hours/week
    5

  • Patricia O'Bannon

    Outgoing Vice Chair

    Total calculated
    $0
    Hours/week
    5

  • Chris Winslow

    Outgoing Director

    Total calculated
    $0
    Hours/week
    1

  • Christina McClung

    Director

    Total calculated
    $0
    Hours/week
    1

  • Christine Chmura

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jeff Wright

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jim Holland

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joe Casey

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Asbury

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Budesky

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Vithoulkas

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lincoln Saunders

    Director

    Total calculated
    $0
    Hours/week
    1

  • Matt Conrad

    Director

    Total calculated
    $0
    Hours/week
    1

  • Salvatore Mancuso

    Director

    Total calculated
    $0
    Hours/week
    1

  • Shawn Davis

    Director

    Total calculated
    $0
    Hours/week
    1

  • Anita Saunders

    Corp. Secretary/VP of Operations

    Total calculated
    $135,871
    From this org
    $109,869
    From related orgs
    $0
    Other
    $26,002
    Hours/week
    40

  • Jennifer Wakefield

    President/CEO/CFO

    Total calculated
    $375,795
    From this org
    $312,637
    From related orgs
    $0
    Other
    $63,158
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $274,505
    Bonus
    $37,524
    Other
    $608
    Deferred
    $37,516
    Nontaxable benefits
    $25,642
    Filer's total
    $375,795

  • Angela Oakes

    VP of Strategy

    Total calculated
    $134,842
    From this org
    $112,900
    From related orgs
    $0
    Other
    $21,942
    Hours/week
    40

  • Charles Peterson

    VP of Research

    Total calculated
    $158,523
    From this org
    $125,979
    From related orgs
    $0
    Other
    $32,544
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,808
    Bonus
    $5,918
    Other
    $253
    Deferred
    $15,117
    Nontaxable benefits
    $17,427
    Filer's total
    $158,523

  • Michael Ivey

    VP of Marketing and Communications

    Total calculated
    $138,256
    From this org
    $114,953
    From related orgs
    $0
    Other
    $23,303
    Hours/week
    40

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 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
18 April 2025
IRS schema version
2023v6.0
Source object
202531089349300318

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