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Virginia Project INC FY2023 filing

Tax-deductible

Bath, ME501(c)(3)Arts & CultureEIN 04-3364532Revenue $267K in FY2023

On file with the IRSmfship.orgPo Box 231, 04530-0231 · Bath, METax-exempt since Jul 1998Publicly supported charity — 170(b)(1)(A)(vi)

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Reconstruction of 1607 pinnace Virginia of sagadahoc

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.8 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
$19K
2% of total assets
Looks good: liabilities are 2% 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
$267K
+66% vs prior year
Spent
$232K
To programs
83%
Net assets
$1.2M
By yearFY2020–FY2024
Revenue
$267K
FY2023▲ +66%
Tap a bar for its year
Revenue by fiscal year
FY2020$236K
FY2021$212K
FY2022$160K
FY2023$267K
FY2024$210K
Expenses
$232K
FY2023▼ -2%
Tap a bar for its year
Expenses by fiscal year
FY2020$81K
FY2021$89K
FY2022$236K
FY2023$232K
FY2024$265K
Net assets
$1.2M
FY2023▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$1.3M
FY2022$1.1M
FY2023$1.2M
FY2024$1.2M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

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

83 cents of each dollar spent went to programs.

Program services 83% · $192K Management & general 12% · $27K Fundraising 5% · $12K

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

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
Orman Hines
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Lori Benson
Vice President
$0Pt VII · Sec A
Jeremy Blaiklock
Vice President
$0Pt VII · Sec A
Paul Johnson
Director
$0Pt VII · Sec A
Dorsey Harrison
Co-Chairperson
$0Pt VII · Sec A
James Parmentier
Co-Chairperson
$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.

Questions for Virginia Project INC

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Provided by the organization

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1 program · $192K · in their own filed words · FY2023
01

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

$192Kprogram expense

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 FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$267K
Ln 12
Gifts and grantsLn 1h$220K
Other incomeLn 4–11$21K
Investment incomeLn 3$16K
Money outPt IX
$232K
Ln 25
Programscol B$192K
Managementcol C$27K
Fundraisingcol D$12K
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$55K
Total assetsLn 16$1.2M
LiabilitiesLn 26$19K
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$220K
Noncash giftsLn 1g$35K
Fees for servicesLn 2g$10K
Investment incomeLn 3$16K
Other incomeLn 4–11$21K
Gains on assetsLn 7$6K
Total revenueLn 12$267K
Assets in detailPt X, end of year
CashLn 1$55K
Cash and savings togetherLn 1–2$55K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$113K
Total assetsLn 16$1.2M
LiabilitiesLn 26$19K
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 FY23End FY23
Cash and savingsLn 1–2$40K$55K
InvestmentsLn 11–13$983K$1.1M
Land, buildings, equipmentLn 10c$121K$113K
Total assetsLn 16$1.1M$1.2M
LiabilitiesLn 26$9K$19K
Net assetsLn 32$1.1M$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$87K$70K$9K$9K
Payroll taxesLn 10$7K$5K$667$667
Other fees for servicesLn 11g$6K$6K
OccupancyLn 16$26K$26K
InterestLn 20$255$255
Depreciation, depletion and amortizationLn 22$8K$8K$86
InsuranceLn 23$27K$20K$4K$3K
Other expenses (24a–d)Ln 24$49K$49K
All other expensesLn 24e$23K$15K$8K$267
Total functional expensesLn 25$232K$192K$27K$12K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $210K$265K−$56K$1.2M 990 PDF
FY2023 Viewing $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 FY2023 990 (6 parts)
Part I · Summary $266,843 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $140,399$220,080
I-9 Program service revenuePrior year $4,755$9,894
I-10 Investment incomePrior year $3,944$16,270
I-11 Other revenuePrior year $11,375$20,599
I-12 Total revenuePrior year $160,473$266,843
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $90,083$93,827
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $145,856$138,188
I-18 Total expensesPrior year $235,939$232,015
I-19 Revenue less expensesPrior year −$75,466$34,828
Part VI · Governance 12 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $266,843 across 8 lines filed
Lines not itemized here account for $9,863 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$220,080
VIII-1g Noncash contributions (included above)$35,073
VIII-1h Total contributions, gifts and grants$220,080
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $9,894$9,894
VIII-3 Investment incomeExcluded from tax $10,024$10,024
VIII-6 Net rental income or lossExcluded from tax $10,736$10,736
VIII-7 Net gain or loss on sales of assetsExcluded from tax $6,246$6,246
VIII-12 Total revenueRelated to mission $9,863 · Unrelated business $0 · Excluded from tax $36,900$266,843
Part IX · Statement of functional expenses $232,015 across 9 lines filed
IX-7 Other salaries and wagesPrograms $69,727 · Management $8,716 · Fundraising $8,716$87,159
IX-10 Payroll taxesPrograms $5,334 · Management $667 · Fundraising $667$6,668
IX-11g Other fees for servicesManagement $6,180$6,180
IX-16 OccupancyPrograms $25,725$25,725
IX-20 InterestPrograms $255$255
IX-22 Depreciation, depletion and amortizationPrograms $7,595 · Management $86$7,681
IX-23 InsurancePrograms $20,372 · Management $4,074 · Fundraising $2,716$27,162
IX-24 Other expenses (24a–d)Programs $48,675$48,675
IX-24e All other expensesPrograms $14,684 · Management $7,559 · Fundraising $267$22,510
IX-25 Total functional expensesPrograms $192,367 · Management $27,282 · Fundraising $12,366$232,015
Part X · Balance sheet $1,234,883 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $39,737$55,047
X-8 Inventories for sale or useStart of year $3,838$3,838
X-9 Prepaid expenses and deferred charges$2,841
X-10c Land, buildings and equipment, netStart of year $120,672$112,991
X-11 Publicly traded securitiesStart of year $343,913$390,187
X-13 Program-related investmentsStart of year $638,636$669,979
X-16 Total assetsStart of year $1,146,796$1,234,883
X-17 Accounts payable and accrued expensesStart of year $8,689$9,289
X-24 Unsecured notes and loans payable$10,000
X-26 Total liabilitiesStart of year $8,689$19,289
X-32 Total net assets or fund balancesStart of year $1,138,107$1,215,594
X-33 Total liabilities and net assetsStart of year $1,146,796$1,234,883
Part XI · Reconciliation of net assets $1,215,594 net assets at year end
XI-1 Total revenue$266,843
XI-2 Total expenses$232,015
XI-3 Revenue less expenses$34,828
XI-4 Net assets at start of year$1,138,107
XI-5 Net unrealized gains (losses) on investments$42,659
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,215,594

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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