Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: RESIDENT REVENUE

  total $466,138 · related or exempt $466,138

• 3 · Investment income

  total $55,737 · excluded $55,737

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $89,573 · program services $89,573

• 9 · Other employee benefits

  total $6,891 · program services $6,891

• 11a · Fees: management

  total $136,199 · management and general $136,199

• 11b · Fees: legal

  total $834 · management and general $834

• 11c · Fees: accounting

  total $6,716 · program services $6,716

• 12 · Advertising and promotion

  total $94,473 · management and general $94,473

• 13 · Office expenses

  total $1,572 · management and general $1,572

• 17 · Travel

  total $2,321 · program services $2,321

• 19 · Conferences, conventions and meetings

  total $600 · program services $600

• 24a · Other expenses: BIRDSONG TABLET EXPENSE

  total $233,574 · program services $233,574

• 24b · Other expenses: SHIPPING

  total $43,104 · program services $43,104

• 24c · Other expenses: OTHER

  total $13,667 · program services $13,667

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $440,256 · end of year $255,842

• 4 · Accounts receivable

  beginning of year $8,616,048 · end of year $9,298,696

• 9 · Prepaid expenses and deferred charges

  end of year $1,562

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

  $34,943

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

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $34,943

• 15 · Other assets

  beginning of year $329,151 · end of year $419,546

• 17 · Accounts payable and accrued expenses

  beginning of year $800,780 · end of year $1,533,563

• 27 · Net assets without donor restrictions

  beginning of year $8,584,675 · end of year $8,477,026

The filer's explanations (Part III)

PART I, LINE 1B

APPROVED EXPENSE REPORT ALONG WITH SUPPORTING RECEIPTS MUST BE SUBMITTED PRIOR TO REIMBURSEMENT.

PART I, LINE 3

THE POLICY OF THE ORGANIZATION IS TO SET COMPENSATION AT MARKET PAY FOR ALL EMPLOYEES WHO ARE FULLY COMPETENT IN THEIR POSITIONS. MARKET PAY IS DETERMINED BY INDEPENDENT, OUTSIDE EXPERTS. ADDITIONALLY, A SUBSTANTIAL PORTION OF THE PRESIDENT AND CEO'S COMPENSATION IS AT-RISK PAY LINKED TO SPECIFIC GOALS AND RESULTS. ADDITIONALLY, THE BOARD PROVIDES A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) FOR THE CEO CONTINGENT IN PART UPON LONGEVITY OF EMPLOYMENT TO ENCOURAGE RETENTION. TO DETERMINE COMPENSATION FOR THE PRESIDENT AND CEO, THE BOARD'S EXECUTIVE COMMITTEE, ACTING AS A PERSONNEL COMMITTEE, ENGAGES AN INDEPENDENT CONSULTANT WHO SPECIALIZES IN EXECUTIVE COMPENSATION. THE INDEPENDENT CONSULTANT PROVIDES THE EXECUTIVE COMMITTEE COMPENSATION DATA REPRESENTING COMPARABLE POSITIONS IN ORGANIZATIONS OF SIMILAR INDUSTRIES WITH SIMILAR REVENUE AND BUDGET SIZE. THE EXECUTIVE COMMITTEE USES THIS INFORMATION AND THE RECOMMENDATIONS OF THE INDEPENDENT CONSULTANT AS THE BASIS FOR SETTING COMPENSATION.

PART I, LINE 4B

INCLUDED IN THE COMPENSATION OF J. BENJAMIN UNKLE, JR. IS $68,169 FROM A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP). FOR DETAILS OF HOW THE ORGANIZATION SETS COMPENSATION, PLEASE SEE THE DESCRIPTION IN THE NOTE FOR PART I, LINE 3.

PART I, LINE 6

SOME OF THE MANAGEMENT STAFF'S COMPENSATION IS AT-RISK PAY DRIVEN BY A BALANCED SCORECARD TO INCLUDE FINANCIAL PERFORMANCE, QUALITY METRICS, AND SATISFACTION OF CONSTITUENTS SERVED IN ACHIEVING OUR MISSION.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• LYNNHAVEN FISHING PIER CORPORATION

  S · REAL ESTATE HELD FOR WESTMINSTER CANTERBURY · VA

  Directly controlled by WESTMINSTER CANTERBURY ON CHESAPEAKE BAY