Vba Education Foundation EIN 20-4943021 Form 990 (PDF) Claim this org

Vba Education Foundation FY2021 filing

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Teaches personal finance skills to people throughout Virginia. For fiscal year 2021 it reported $211K in revenue, $88K in expenses, and $1.7M in net assets.Pt I

Founded
2006
Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Glen Allen, VA
Website
www.vabankers.org/education-foundation
Filings
6 on file (2020–2021)
Revenue
$211KFY2021
Expenses
$88K
Net assets
$1.7M
People
14
Filings
6
Updates
0
More identity details & actions ⌄
EIN  20-4943021 Public foundation / grantmaker Glen Allen, VA Founded 2006
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Teaches personal finance skills to people throughout Virginia.
Leadership
Scott C Harvard · Chairman
Money in and out
$211K revenue, $88K expenses
Bottom line
93% program efficiency
Grants paid & assets · FY2021
Total revenue
$211K
Pt VIII · Ln 12
Total expenses
$88K
Pt IX · Ln 25
Net assets
$1.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $123K
Where spending went · Part IX cols B–D
Program services $0.93 Management & general $0.07
Program efficiency
93%
of spending reaches programs
Operating runway
238.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+58%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$211K
FY2021▲ +55%
Expenses
$88K
FY2021▼ -1%
Total assets
$1.7M
FY2021▲ +8%
Total liabilities
$0
FY2021
Total revenue
$211K
Pt VIII · Ln 12
Total expenses
$88K
Pt IX · Ln 25
Net assets
$1.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$123K
Total assetsPt X · Ln 16$1.7M
Program-expense ratioPt IX · col B93%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CVba Education Foundation
EINHdr · item D20-4943021
Principal addressHdr · item CGlen Allen, VA
Year of formationHdr · item L2006
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T30)
Ruling yearIRS BMFJun 2007

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Immediate Past Chairman
$0Pt VII · Sec A
Director Emeritus
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
See Vba Education Foundation executive salaries →

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Mission & Programs · Part III

Where the work happens

2 program services account for $82K of program spending, described in the organization's own filed words · FY2021.
01

Financial literacy training for high school students and teachers in virginia.

$53Kprogram expense
02

College scholarships for high school seniors

$29Kprogram expense

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Statement of Revenue

Part VIII
Investment income$118K · 56%
Contributions & grants$93K · 44%
Investment income56%$118K
Contributions & grants44%$93K
Total revenueLn 12$211K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.93 Management & general $0.07
Program services93%$82K
Management & general7%$6K
Total functional expensesLn 25$88K

Balance Sheet

Part X · end of year
CashLn 1$165K
Total assetsLn 16$1.7M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.7M
Months of cash on handcomputed22.5

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.7M · Operating expenses/yr $88K
238.2 months
Where the money goes
Program services
Program services $82K · Total expenses $88K
93%
Management & General
Management & general $6K · Total expenses $88K
7%
Fundraising
Fundraising $0 · Total expenses $88K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $76K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $93K · Total revenue $211K
44%
Government reliance
Government grants — · Total revenue $211K
Earned-income share
Program service revenue $0 · Total revenue $211K
0%
Investment reliance
Investment income $118K · Total revenue $211K
+56%
Program self-sufficiency
Program service revenue $0 · Total expenses $88K
0%
Growth & trend
Revenue growth (YoY)
This year $211K · Prior year $136K
+55%
Net-asset trend (YoY)
End of year $1.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $211K · Expenses $88K
+58%
Liabilities-to-Assets
Total liabilities — · Total assets $1.7M
Net-asset ratio
Net assets $1.7M · Total assets $1.7M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.6M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.7M
91%
People & payroll
Highest Reported Total Compensation
Individual Scott C Harvard · Reported title CHAIRMAN · Highest reported compensation $0 · Total expenses $88K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $88K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 93%
Overhead ratio 7%
Fundraising cost ratio 0%
Revenue growth 55%
Investment management fee ratio 0.2%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$5K
Grants paid · 23 grants · $904K · 2020–2025
Unitemized GrantFY2025$28,500
Unitemized GrantFY2024$26,000
Read to Them INCVA · FY2024$7,500
Unitemized GrantFY2023$26,000
Read to Them INCVA · FY2023$7,500
Unitemized GrantFY2022$26,000
Read to Them INCVA · FY2022$10,000
Unitemized GrantFY2021$29,000
See all 23 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$279K revenue · ⤓ 990 PDF
FY2024$195K revenue · ⤓ 990 PDF
FY2023$402K revenue · ⤓ 990 PDF
FY2022$346K revenue · ⤓ 990 PDF
FY2021$211K revenue · viewing · ⤓ 990 PDF
FY2020$136K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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