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Nonprofiteer
← SOUTHERN VIRGINIA HIGHER EDUCATION FOUNDATION INC

Form 990 for tax year 2024

Filed by SOUTHERN VIRGINIA HIGHER EDUCATION FOUNDATION INC.

Totals

Total revenue
$1,840,388
Total expenses
$1,614,806
Contributions and grants received
$485,500
Grants paid
$0
Program service revenue
$1,080,489
Investment income
$274,399
Other revenue
$0
Total assets, end of year
$18,646,831
Total liabilities, end of year
$304,265
Net assets or fund balances, end of year
$18,342,566
Program services expenses (Part IX)
$1,098,097
Management and general expenses
$392,190
Fundraising expenses
$124,519
Program service expenses (Part III)
$1,098,097

Program services were 68.0% 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

    $485,500

  • 2a · Program service revenue: FACILITY RENTAL INCOME

    total $1,080,489 · related or exempt $1,080,489

  • 3 · Investment income

    total $274,399 · related or exempt $274,399

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $242,682 · program services $80,085 · management and general $104,353 · fundraising $58,244

  • 13 · Office expenses

    total $11,845 · program services $3,618 · management and general $4,904 · fundraising $3,323

  • 20 · Interest

    total $11,330 · management and general $11,330

  • 22 · Depreciation, depletion and amortization

    total $599,966 · program services $407,977 · management and general $191,989

  • 23 · Insurance

    total $53,805 · program services $53,805

  • 24a · Other expenses: MAINTENANCE

    total $294,236 · program services $294,236

  • 24b · Other expenses: EDUCATIONAL INITIATIVES

    total $132,833 · program services $132,833

  • 24c · Other expenses: SCHOLARSHIP

    total $78,003 · program services $78,003

  • 24d · Other expenses: FUNDRAISING-MARKETING/PR

    total $51,748 · fundraising $51,748

  • 24e · All other expenses

    total $138,358 · program services $47,540 · management and general $79,614 · fundraising $11,204

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $545,022 · end of year $378,166

  • 2 · Savings and temporary cash investments

    beginning of year $595,777 · end of year $622,985

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

    $24,653,924

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

    $9,766,183

  • 10c · Land, buildings and equipment, net

    beginning of year $15,383,498 · end of year $14,887,741

  • 11 · Investments: publicly traded securities

    beginning of year $1,872,031 · end of year $2,757,939

  • 15 · Other assets

    beginning of year $42,335

  • 17 · Accounts payable and accrued expenses

    beginning of year $22,074 · end of year $40,587

  • 25 · Other liabilities

    beginning of year $299,605 · end of year $263,678

  • 27 · Net assets without donor restrictions

    beginning of year $17,371,876 · end of year $17,231,694

  • 28 · Net assets with donor restrictions

    beginning of year $745,108 · end of year $1,110,872

Mission and programs · 2024

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. PROGRAM ACCOMPLISHMENTS INCLUDE GRANTS/DONATION OF EQUIPMENT TO THE SOUTHERN VIRGINIA HIGHER EDUCATION CENTER.

    Expenses $1,098,097

As filed on the 2024 return.

Listed in Part VII

  • The Hon Ww Ted Bennett

    DIRECTOR

    Total calculated
    $0

  • Brian Burton

    SECRETARY

    Total calculated
    $0

  • John R Cannon

    DIRECTOR

    Total calculated
    $0

  • Ned Covington

    DIRECTOR

    Total calculated
    $0

  • Jeff Davis

    TREASURER

    Total calculated
    $0

  • Sterling Edmunds

    DIRECTOR

    Total calculated
    $0

  • Jayne Pennington Elliott

    DIRECTOR

    Total calculated
    $0

  • Monica Hodges

    CHAIRMAN

    Total calculated
    $0

  • Ben J Davenport Jr

    DIRECTOR

    Total calculated
    $0

  • Dawn Miller

    DIRECTOR

    Total calculated
    $0

  • Linda Owen

    DIRECTOR

    Total calculated
    $0

  • Edward Owens

    DIRECTOR

    Total calculated
    $0

  • Hubert Pannell

    DIRECTOR

    Total calculated
    $0

  • Rebecca Saunders

    DIRECTOR

    Total calculated
    $0

  • Darden Smith

    DIRECTOR

    Total calculated
    $0

  • Patricia Walker

    VICE CHAIRMA

    Total calculated
    $0

  • Dennis 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
2024
Filed
4 May 2026
IRS schema version
2024v5.0
Source object
202611359349303841

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