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Nonprofiteer
← VIRGINIA BEACH BILLFISH TOURNAMENT LLC

Form 990 for tax year 2025

Filed by VIRGINIA BEACH BILLFISH TOURNAMENT LLC.

Totals

Total revenue
$194,908
Total expenses
$189,366
Contributions and grants received
$381,703
Grants paid
$57,000
Program service revenue
$117,900
Investment income
$21
Other revenue
-$304,716
Total assets, end of year
$89,805
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$89,805
Program services expenses (Part IX)
$115,136
Management and general expenses
$35,497
Fundraising expenses
$38,733
Program service expenses (Part III)
$115,136

Program services were 60.8% 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

    $381,703

  • 2a · Program service revenue: ENTRY FEES

    total $114,750 · related or exempt $114,750

  • 2b · Program service revenue: TICKETS

    total $3,150 · related or exempt $3,150

  • 3 · Investment income

    total $21 · related or exempt $21

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $14,865

  • 8b · Fundraising events: direct expenses

    $319,581

  • 8c · Net income from fundraising events

    total -$304,716

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $57,000 · program services $57,000

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $45,833 · program services $18,333 · management and general $20,625 · fundraising $6,875

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $3,522 · program services $1,409 · management and general $1,585 · fundraising $528

  • 11a · Fees: management

    total $14,465 · program services $7,232 · management and general $7,233

  • 11b · Fees: legal

    total $1,696 · program services $848 · management and general $848

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $31,330 · fundraising $31,330

  • 13 · Office expenses

    total $9,422 · program services $4,711 · management and general $4,711

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $3,407 · program services $3,407

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $1,480 · program services $1,480

  • 24a · Other expenses: TROPHIES

    total $20,716 · program services $20,716

  • 24b · Other expenses: PO BOX

    total $464 · management and general $464

  • 24c · Other expenses: PERSONAL PROPERTY

    total $31 · management and general $31

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $52,557 · end of year $20,271

  • 2 · Savings and temporary cash investments

    beginning of year $607 · end of year $607

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $33,325 · end of year $68,927

  • 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

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $2,226 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $84,263 · end of year $89,805

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2025

Mission

To engage in the promotion of educational, scientific, and charitable purposes permitted by law, facilitated through the fishing tournament.

Activities or mission (Part I)

To engage in the promotion of educational scientific, and charitable purposes permitted by law, facilitated through a fishing tournament.

  • THE VIRGINIA BEACH BILLFISH TOURNAMENT IS ONE OF VIRGINIA'S BEST SPORTING TRADITIONS WITH A FOCUS ON CHARITABLE ENDEAVORS. SINCE THE FIRST EVENT IN 2004, THE VBBT HAS RAISED OVER $1.4 MILLION FOR CHARITY, SUPPORTING THE LOCAL BOYS & GIRLS CLUBS, STOPABUSE, ACHIEVABLE DREAM, EVMS, CANCER RESEARCH, ACCESS COLLEGE FUND, CHAMPIONS FOR CHARITY, HAMPTON ROADS ACADEMY, VIRGINIA BEACH FRIENDS SCHOOL, THE PENINSULA SPCA, & THE BILLFISH FOUNDATION--AMONG OTHERS.

    Expenses $115,136 · Grants $57,000 · Revenue $514,489

As filed on the 2025 return.

Listed in Part VII

  • Paula Davis

    Executive Director

    Total calculated
    $22,916
    From this org
    $22,916
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Dennis Deans

    Secretary / Treasurer

    Total calculated
    $0
    Hours/week
    0

  • Earle Hall

    Chairman of the Board

    Total calculated
    $0
    Hours/week
    0

  • Brad Wachowiak

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Charles Barker

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Chris Perry

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Jud Black

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Michael Atkinson

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Michael Standing

    Trustee

    Total calculated
    $0
    Hours/week
    0

  • Thomas Bayne

    Trustee

    Total calculated
    $0
    Hours/week
    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

Provenance

Return type
form_990
Tax year
2025
Filed
5 June 2026
IRS schema version
2025v4.1
Source object
202621609349300747

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