← VIRGINIA COUNCIL ON ECONOMIC EDUCATION

Form 990 for tax year 2022

Filed by VIRGINIA COUNCIL ON ECONOMIC EDUCATION.

Totals

Total revenue: $1,020,028
Total expenses: $1,047,484
Contributions and grants received: $942,568
Grants paid: $0
Program service revenue: $31,625
Investment income: $45,835
Other revenue: $0
Total assets, end of year: $1,699,282
Total liabilities, end of year: $739
Net assets or fund balances, end of year: $1,698,543
Program services expenses (Part IX): $811,970
Management and general expenses: $187,428
Fundraising expenses: $48,086
Program service expenses (Part III): $811,970

Program services were 77.5% 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)

$416,052
1f · All other contributions, gifts and grants

$526,516
1g · Noncash contributions included above

$3,251
2a · Program service revenue: Stock Market Game

total $31,625
3 · Investment income

total $15,011
7a · Gross sales of assets other than inventory

other assets $30,824
7c · Gain or loss

other assets $30,824
7d · Net gain or loss

total $30,824

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $0
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 $132,000 · program services $28,931 · management and general $92,861 · fundraising $10,208
6 · Compensation of disqualified persons

total $0
7 · Other salaries and wages

total $286,088 · program services $220,473 · management and general $30,972 · fundraising $34,643
8 · Pension plan contributions

total $0
9 · Other employee benefits

total $58,269 · program services $51,248 · management and general $7,021
10 · Payroll taxes

total $30,085 · program services $19,084 · management and general $7,766 · fundraising $3,235
11a · Fees: management

total $0
11b · Fees: legal

total $0
11c · Fees: accounting

total $32,245 · management and general $32,245
11d · Fees: lobbying

total $0
11f · Fees: investment management

total $5,888 · management and general $5,888
11g · Fees: other

total $162,625 · program services $162,625
12 · Advertising and promotion

total $0
13 · Office expenses

total $249 · management and general $249
14 · Information technology

total $0
15 · Royalties

total $0
16 · Occupancy

total $2,105 · management and general $2,105
17 · Travel

total $13,468 · program services $12,927 · management and general $541
18 · Travel or entertainment for public officials

total $0
19 · Conferences, conventions and meetings

total $19,700 · program services $19,700
20 · Interest

total $0
21 · Payments to affiliates

total $0
22 · Depreciation, depletion and amortization

total $0
23 · Insurance

total $0
24a · Other expenses: Centers

total $158,391 · program services $158,391
24b · Other expenses: Other program initiatives

total $135,199 · program services $135,199
24c · Other expenses: Telephone

total $2,067 · program services $517 · management and general $1,550
24d · Other expenses: Printing and postage

total $3,072 · program services $2,875 · management and general $197
24e · All other expenses

total $6,033 · management and general $6,033

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,305 · end of year $1,566
2 · Savings and temporary cash investments

beginning of year $532,377 · end of year $458,874
10a · Land, buildings and equipment: cost or other basis

$19,931
10b · Land, buildings and equipment: accumulated depreciation

$19,931
11 · Investments: publicly traded securities

beginning of year $438,415 · end of year $474,018
15 · Other assets

beginning of year $781,153 · end of year $764,824
17 · Accounts payable and accrued expenses

beginning of year $5,270 · end of year $739
27 · Net assets without donor restrictions

beginning of year $614,389 · end of year $557,807
28 · Net assets with donor restrictions

beginning of year $1,133,591 · end of year $1,140,736

Mission and programs · 2022

Mission

To provide Virginias K-12 students with the economic knowledge and financial skills needed to thrive in our dynamic economy by providing professional development and classroon resources to all Virginia K-12 teachers who teach economics and personal finance at no cost to the teachers or school divisions.

Activities or mission (Part I)

VCEE is the critical resource for Virginias K-12 teachers and school divisions who are seeking professional development, curriculum and resources to help teach economics and personal finance effectively.

Teacher Education - Provide quality professional development workshops and institutes and classroom materials to K-12 teachers to enable them to more effectively teach their students the economics and personal finance knowledge and skills needed to be successful in our dynamic economy. As a result of the financial support we receive from our partners, this professional development is provided at no cost to the teachers or their schools. In FY23, VCEE provided 58 sessions ranging from one hour to 45 hours in length to 1,322 teachers. In addition, VCEE had 85,143 digital interactions in FY23 via its website, social media and digital newsletter.

Expenses $341,899 · Revenue $181,695
The Personal Finance Teacher Fellowship Program supports school divisions by increasing access to quality personal finance education. Educators are taught by VCEE, and this cohort of highly-qualified Personal Finance Teacher Fellows will then offer personal finance professional development and resources to other teachers in their school, school division, and region. In this way, the VCEE is able to deploy more personal finance resources where they will have a meaningful impact. This investment will help improve education opportunities and economic equity in Virginias underserved communities by ultimately improving the financial knowledge and skills of middle and high school students. In FY23, 13 teachers, representing 10 public school divisions, delivered personal finance professional development to 154 classroom teachers and awarded 308 hours of continuing education credit.

Expenses $75,554 · Revenue $72,150
Stock Market Game - A program for grades 4-12 which provides teachers with a real word simulation to use with their students to teach math, social studies, business, economics and language arts while also learning about the stock market and how to invest wisely. Student teams simulate investing 100,000 and track how their investments perform over the life of the program. In FY23, 3,074 teams representing 12,188 students across Virginia participated in the Stock Market Game. Workshops and webinars were held for teachers to assist them in integrating this program into their curriculum. VCEE also manages the statewide participation in InvestWrite, a writing competition around saving, investing and the stock market.

Expenses $95,896 · Revenue $47,425

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Daniel R Mortensen

President and CEO

Total calculated

$132,000

From this org

$132,000

From related orgs

$0

Other

$0

Hours/week

40
Neil Amin

Board Member

Total calculated

$0

Hours/week

1
Kartik Athreya

Board Member

Total calculated

$0

Hours/week

2
James W Dyke

Board Member

Total calculated

$0

Hours/week

1
Rasheeda Creighton

Board Member

Total calculated

$0

Hours/week

1
Erica Billingslea

Board Member

Total calculated

$0

Hours/week

1
Fred Thompson

Board Member

Total calculated

$0

Hours/week

1
Naomi Boyd

Board Member

Total calculated

$0

Hours/week

1
Bradley H Gunter

Board Member

Total calculated

$0

Hours/week

1
Jason Dunick

Member Ex-officio

Total calculated

$0

Hours/week

1
Carrie Hunt

Board Member

Total calculated

$0

Hours/week

1
L James Borges

Board Member

Total calculated

$0

Hours/week

2
D Oscarlyn Elder

Board Member

Total calculated

$0

Hours/week

2
Suzanne M Gallagher

Board Member

Total calculated

$0

Hours/week

1
Chung Ma

Board Member

Total calculated

$0

Hours/week

2
Derwood S Chase

Board Member

Total calculated

$0

Hours/week

1
Natasha Knight

Board Member

Total calculated

$0

Hours/week

1
Bryan S Cram

Board Member

Total calculated

$0

Hours/week

1
Christopher Lucy

Vice Chairman

Total calculated

$0

Hours/week

3
Jeffrey M Lacker

Board Member

Total calculated

$0

Hours/week

1
A Fletcher Mangum

Chairman

Total calculated

$0

Hours/week

5
Jeffrey R Leopold

Board Member

Total calculated

$0

Hours/week

2
Lynne Mallory-Winter

Board Member

Total calculated

$0

Hours/week

2
EG Miller

Secretary/Treasurer

Total calculated

$0

Hours/week

5
Stephanie R Peters

Board Member

Total calculated

$0

Hours/week

2
Katharine M Bond

Board Member

Total calculated

$0

Hours/week

1
Keith M Martin

Board Member

Total calculated

$0

Hours/week

1
Rob Shinn

Board Member

Total calculated

$0

Hours/week

2
William A Casey

Board Member

Total calculated

$0

Hours/week

1
Tapan V Gandhi

Board Member

Total calculated

$0

Hours/week

1
Bruce T Whitehurst

Board Member

Total calculated

$0

Hours/week

2
Jeffrey Lacker

Board Member

Total calculated

$0

Hours/week

1
A Eric Kauders Jr

Board Member

Total calculated

$0

Hours/week

2
Christopher M Shockley

Immediate Past Chair

Total calculated

$0

Hours/week

5
Thomas C Palmer

Board Member

Total calculated

$0

Hours/week

1
Mary G Morris

Board Member

Total calculated

$0

Hours/week

1
Gary R Thomson

Board Member

Total calculated

$0

Hours/week

1
Thomas E Phillips Jr

Board Member

Total calculated

$0

Hours/week

1
David W Mullins

Board Member

Total calculated

$0

Hours/week

1
Tammy Neale

Board Member

Total calculated

$0

Hours/week

1
Tim Rowe

Board Member

Total calculated

$0

Hours/week

1
Marge White

Board Member

Total calculated

$0

Hours/week

1
Michel Zajur

Board Member

Total calculated

$0

Hours/week

1

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: 2022
Filed: 15 May 2024
IRS schema version: 2022v5.0
Source object: 202421369349307262

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