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Virginia Project INC

Tax-deductible

Bath, ME501(c)(3)Arts & CultureEIN 04-3364532

Reconstruction of 1607 pinnace virginia of sagadahoc

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Run by 75 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $36K a year · 17% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$12K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$210K
-21% vs prior year
Spent
$265K
To programs
82%
Net assets
$1.2M
By yearFY2020–FY2024
Revenue
$210K
FY2024▼ -21%
Revenue by fiscal year
FY2020$236K
FY2021$212K
FY2022$160K
FY2023$267K
FY2024$210K
Expenses
$265K
FY2024▲ +14%
Expenses by fiscal year
FY2020$81K
FY2021$89K
FY2022$236K
FY2023$232K
FY2024$265K
Net assets
$1.2M
FY2024▼ -4%
Net assets by fiscal year
FY2020$1.1M
FY2021$1.3M
FY2022$1.1M
FY2023$1.2M
FY2024$1.2M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1998.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $218K Management & general 12% · $33K Fundraising 5% · $14K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Lori Benson
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rowan Wagner
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Virginia Project INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Reconstructs the 1607 Pinnace Virginia of Sagadahoc.

Provided by the organization

This section is blank until Virginia Project INC claims this page.

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1 program service account for $218K of program spending, described in the organization's own filed words · FY2024.
01

Reconstruction and operation of 1607 pinnace viriginia of sagadahoc and promotion of the history of maine's first english settlement and early shipbuilding heritage

$218Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Donor Advised Charitable Giving INCFY2024$50K
Total grants receivedfrom 1 funder$50K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$210K
Ln 12
Gifts and grantsLn 1h$144K
Investment incomeLn 3$33K
Fees for servicesLn 2g$21K
Money outPt IX
$265K
Ln 25
Programscol B$218K
Managementcol C$33K
Fundraisingcol D$14K
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$37K
Total assetsLn 16$1.2M
LiabilitiesLn 26$12K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$144K
Noncash giftsLn 1g$17K
Fees for servicesLn 2g$21K
Investment incomeLn 3$33K
Other incomeLn 4–11$10K
Gains on assetsLn 7$22K
Total revenueLn 12$210K
Assets in detailPt X, end of year
CashLn 1$37K
Cash and savings togetherLn 1–2$37K
InvestmentsLn 11–13$360K
Land, buildings, equipmentLn 10c$782K
Total assetsLn 16$1.2M
LiabilitiesLn 26$12K
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 52
VolunteersI 675
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$55K$37K
InvestmentsLn 11–13$1.1M$360K
Land, buildings, equipmentLn 10c$113K$782K
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$19K$12K
Net assetsLn 32$1.2M$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$90K$72K$9K$9K
Payroll taxesLn 10$7K$5K$685$685
Accounting feesLn 11c$8K$8K
OccupancyLn 16$25K$25K
TravelLn 17$16$16
InterestLn 20$331$331
Depreciation, depletion and amortizationLn 22$19K$19K$59
InsuranceLn 23$38K$29K$6K$4K
Other expenses (24a–d)Ln 24$50K$50K$291
All other expensesLn 24e$27K$18K$9K$557
Total functional expensesLn 25$265K$218K$33K$14K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $210K$265K−$56K$1.2M 990 PDF
FY2023 $267K$232K$35K$1.2M 990 PDF
FY2022 $160K$236K−$75K$1.1M 990 PDF
FY2021 $212K$89K$123K$1.3M 990 PDF
FY2020 $236K$81K$154K$1.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $209,507 across 8 lines filed
Lines not itemized here account for $88 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$144,474
VIII-1g Noncash contributions (included above)$17,286
VIII-1h Total contributions, gifts and grants$144,474
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $21,469$21,469
VIII-3 Investment incomeExcluded from tax $11,689$11,689
VIII-6 Net rental income or lossExcluded from tax $10,275$10,275
VIII-7 Net gain or loss on sales of assetsExcluded from tax $21,512$21,512
VIII-12 Total revenueRelated to mission $21,557 · Unrelated business $0 · Excluded from tax $43,476$209,507
Part IX · Statement of functional expenses $265,205 across 10 lines filed
IX-7 Other salaries and wagesPrograms $71,635 · Management $8,954 · Fundraising $8,954$89,543
IX-10 Payroll taxesPrograms $5,480 · Management $685 · Fundraising $685$6,850
IX-11c Accounting feesManagement $8,490$8,490
IX-16 OccupancyPrograms $25,050$25,050
IX-17 TravelPrograms $16$16
IX-20 InterestPrograms $331$331
IX-22 Depreciation, depletion and amortizationPrograms $19,427 · Management $59$19,486
IX-23 InsurancePrograms $28,649 · Management $5,730 · Fundraising $3,820$38,199
IX-24 Other expenses (24a–d)Programs $49,651 · Management $291$49,942
IX-24e All other expensesPrograms $17,991 · Management $8,750 · Fundraising $557$27,298
IX-25 Total functional expensesPrograms $218,230 · Management $32,959 · Fundraising $14,016$265,205
Part X · Balance sheet $1,183,554 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $55,047$36,840
X-8 Inventories for sale or useStart of year $3,838$2,439
X-9 Prepaid expenses and deferred chargesStart of year $2,841$2,038
X-10c Land, buildings and equipment, netStart of year $112,991$782,469
X-11 Publicly traded securitiesStart of year $390,187$359,768
X-13 Program-related investmentsStart of year $669,979$0
X-16 Total assetsStart of year $1,234,883$1,183,554
X-17 Accounts payable and accrued expensesStart of year $9,289$3,828
X-19 Deferred revenue$3,181
X-24 Unsecured notes and loans payableStart of year $10,000$5,000
X-26 Total liabilitiesStart of year $19,289$12,009
X-32 Total net assets or fund balancesStart of year $1,215,594$1,171,545
X-33 Total liabilities and net assetsStart of year $1,234,883$1,183,554
Part XI · Reconciliation of net assets $1,171,545 net assets at year end
XI-1 Total revenue$209,507
XI-2 Total expenses$265,205
XI-3 Revenue less expenses−$55,698
XI-4 Net assets at start of year$1,215,594
XI-5 Net unrealized gains (losses) on investments$11,649
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,171,545

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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