Virginia Industry Foundation INC EIN 20-5582985

Virginia Industry Foundation INC

EIN  20-5582985 Public charity (501(c)(3)) Richmond, VA
Form 990 (PDF) Compare with another nonprofit →
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Size
<$100K
What they do
Advance industry and education through scientific information, research support, and recognizing achievements.
Leadership
Brett Vassey · President
Money in and out
$40K revenue, $16K expenses
Bottom line
100% program efficiency

Advance industry and education through scientific information, research support, and recognizing achievements. For fiscal year 2024 it reported $40K in revenue, $16K in expenses, and $14K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$40K
Pt VIII · Ln 12
Total expenses
$16K
Pt IX · Ln 25
Net assets
$14K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $25K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs0% vs prior filing year
Operating runway
40.4mo
months of highly liquid reserves at operating expense rate▲ +597% vs prior filing year
Surplus margin
+61%
revenue over expenses, this year▲ +151% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$40K
FY2024▲ +375%
Expenses
$16K
FY2024▼ -16%
Total assets
$53K
FY2024▲ +487%
Total liabilities
$39K
FY2024▲ +350%
Total revenue
$40K
Pt VIII · Ln 12
Total expenses
$16K
Pt IX · Ln 25
Net assets
$14K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$25K
Total assetsPt X · Ln 16$53K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $16K of program spending, described in the organization's own filed words · FY2024.
01

Rural virginia advanced manufacturing project to train and retrain manufacturing technicians and world class manufacturing assessors in the tobacco dependent localities of southside and southwest virginia.

$16Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CVirginia Industry Foundation INC
EINHdr · item D20-5582985
Principal addressHdr · item CRichmond, VA
WebsiteHdr · item Jwww.vamanufacturers.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S194)
Ruling yearIRS BMFJan 2009

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1bpending
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 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants100%$40K
Investment income$130
Total revenueLn 12$40K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$16K
Total functional expensesLn 25$16K

Balance Sheet

Part X · end of year
CashLn 1$53K
Total assetsLn 16$53K
Total liabilitiesLn 26$39K
Total net assetsLn 32$14K
Months of cash on handcomputed40.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $53K · Operating expenses/yr $16K
40.4 months
Where the money goes
Program services
Program services $16K · Total expenses $16K
100%
Management & General
Management & general $0 · Total expenses $16K
0%
Fundraising
Fundraising $0 · Total expenses $16K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $18K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $40K · Total revenue $40K
100%
Government reliance
Government grants — · Total revenue $40K
Earned-income share
Program service revenue $0 · Total revenue $40K
0%
Investment reliance
Investment income $130 · Total revenue $40K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $16K
0%
Growth & trend
Revenue growth (YoY)
This year $40K · Prior year $9K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $14K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $40K · Expenses $16K
+61%
Liabilities-to-Assets
Total liabilities — · Total assets $53K
Net-asset ratio
Net assets $14K · Total assets $53K
27%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $53K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Brett Vassey · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $16K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $16K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Revenue growth 375%
Legal fee ratio 3%
Accounting fee ratio 10%

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 · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$1K

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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
FY2024 (Latest)$40K revenue · viewing · ⤓ 990 PDF
FY2023$9K revenue · ⤓ 990 PDF
FY2022$6K revenue · ⤓ 990 PDF
FY2021$110K revenue · ⤓ 990 PDF
FY2020$6K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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