Suffolk Foundation FY2024 filing

Tax-deductible

Suffolk, VA501(c)(3)Since 2006Foundations & GrantmakersEIN 20-5998525

The mission of the suffolk foundation is to benefit the people of suffolk and western tidewater by facilitating and developing philanthropy, and by awarding grants and scholarships to meet local community needs.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
$86K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $1.8M a year · 59% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$86K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 8.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $19K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$968K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.1M
+487% vs prior year
Spent
$1.6M
To programs
95%
Net assets
$16.8M
By yearFY2020–FY2025
Revenue
$7.1M
FY2024▲ +487%
Revenue by fiscal year
FY2020$1.1M
FY2021$1.6M
FY2022$1.3M
FY2023$1.2M
FY2024$7.1M
FY2025$6.0M
Expenses
$1.6M
FY2024▲ +40%
Expenses by fiscal year
FY2020$926K
FY2021$903K
FY2022$951K
FY2023$1.1M
FY2024$1.6M
FY2025$2.1M
Net assets
$16.8M
FY2024▲ +48%
Net assets by fiscal year
FY2020$11.3M
FY2021$12.7M
FY2022$11.0M
FY2023$11.3M
FY2024$16.8M
FY2025$21.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2007.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $1.5M Management & general 3% · $40K Fundraising 2% · $37K

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

Who runs it and what they're paid

22 people listed on the 990; $86K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$86,452Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Lorelei C Morrow’s $99K as Executive Di is at the 29th percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023
Lorelei C Morrow$99,375$86,452$39,346
Ernest a Winslow——$47,438

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Suffolk Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Facilitates philanthropy and awards grants and scholarships to benefit local communities.

Provided by the organization

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1 program service account for $1.5M of program spending, described in the organization's own filed words · FY2024.
01

In 2024 the foundation awarded over 1.1 million in grants and scholarships, benefiting dozens of local students and nonprofit organizations in suffolk and western tidewater. This includes grants from our women's impact fund, grants from our donor-advised funds, 153,000 to 46 nonprofits through our community impact grants, and over 82,950…

$1.5Mprogram 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 · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$19K
Grants paid · 206 grants · $4.6M · 2020–2025
Unitemized GrantFY2025$120,750
The Salvation ArmyGA · FY2025$79,525
Forkids INCVA · FY2025$57,215
Norfolk Collegiate SchoolVA · FY2025$50,000
Roc Solid Foundation INCVA · FY2025$41,050
Townebank FoundationVA · FY2025$34,000
Macedonia Baptist ChurchFY2025$30,000
Bernie's Book BankIL · FY2025$28,750
Hampden-Sydney CollegeVA · FY2025$25,000
See all 206 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$7.1M
Ln 12
Gifts and grantsLn 1h$5.6M
Investment incomeLn 3$1.3M
Other incomeLn 4–11$151K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.5M
Managementcol C$40K
Fundraisingcol D$37K
Owns and owesPt X
$16.8M
net assets · Ln 32
Cash and savingsLn 1–2$1.2M
Total assetsLn 16$17.8M
LiabilitiesLn 26$968K
PeoplePt VI, VII
22
listed · VII A
PaidVII A1
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.6M
Noncash giftsLn 1g$47K
Investment incomeLn 3$1.3M
Other incomeLn 4–11$151K
Gains on assetsLn 7$859K
Total revenueLn 12$7.1M
Assets in detailPt X, end of year
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$1.2M
InvestmentsLn 11–13$16.6M
Land, buildings, equipmentLn 10c$23K
Total assetsLn 16$17.8M
LiabilitiesLn 26$968K
Net assetsLn 32$16.8M
OperationsPt I, VI
EmployeesI 53
VolunteersI 665
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$865K$1.2M
InvestmentsLn 11–13$11.4M$16.6M
Land, buildings, equipmentLn 10c$30K$23K
Total assetsLn 16$12.3M$17.8M
LiabilitiesLn 26$938K$968K
Net assetsLn 32$11.3M$16.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.0M$1.0M
Grants to domestic individualsLn 2$83K$83K
Pay of current officers, directors and key staffLn 5$90K$81K$4K$4K
Other salaries and wagesLn 7$64K$35K$18K$11K
Pension plan contributionsLn 8$3K$2K$135$135
Payroll taxesLn 10$15K$11K$2K$2K
Accounting feesLn 11c$3K$3K
Investment management feesLn 11f$99K$97K$2K
Other fees for servicesLn 11g$138K$138K
Advertising and promotionLn 12$17K$9K$8K
Office expensesLn 13$3K$2K$291$521
Information technologyLn 14$19K$10K$5K$4K
OccupancyLn 16$13K$10K$2K$2K
Conferences, conventions and meetingsLn 19$3K$2K$494$378
Depreciation, depletion and amortizationLn 22$6K$2K$2K$2K
InsuranceLn 23$5K$4K$883$670
Other expenses (24a–d)Ln 24$5K$4K$768$588
All other expensesLn 24e$732$195$442$95
Total functional expensesLn 25$1.6M$1.5M$40K$37K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.0M$2.1M$3.9M$21.2M 990 PDF
FY2024 Viewing $7.1M$1.6M$5.5M$16.8M 990 PDF
FY2023 $1.2M$1.1M$76K$11.3M 990 PDF
FY2022 $1.3M$951K$379K$11.0M 990 PDF
FY2021 $1.6M$903K$665K$12.7M 990 PDF
FY2020 $1.1M$926K$196K$11.3M 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 $7,055,591 across 7 lines filed
VIII-1f All other contributions, gifts and grants$5,628,566
VIII-1g Noncash contributions (included above)$47,276
VIII-1h Total contributions, gifts and grants$5,628,566
VIII-3 Investment incomeExcluded from tax $417,621$417,621
VIII-7 Net gain or loss on sales of assets$858,567
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $150,837$150,837
VIII-12 Total revenueRelated to mission $150,837 · Excluded from tax $417,621$7,055,591
Part IX · Statement of functional expenses $1,580,367 across 18 lines filed
IX-1 Grants to domestic organizationsPrograms $1,011,387$1,011,387
IX-2 Grants to domestic individualsPrograms $82,950$82,950
IX-5 Pay of current officers, directors and key staffPrograms $80,996 · Management $4,500 · Fundraising $4,500$89,996
IX-7 Other salaries and wagesPrograms $35,135 · Management $18,268 · Fundraising $10,896$64,299
IX-8 Pension plan contributionsPrograms $2,428 · Management $135 · Fundraising $135$2,698
IX-10 Payroll taxesPrograms $11,383 · Management $2,277 · Fundraising $1,518$15,178
IX-11c Accounting feesManagement $3,242$3,242
IX-11f Investment management feesPrograms $96,926 · Fundraising $1,827$98,753
IX-11g Other fees for servicesPrograms $138,355$138,355
IX-12 Advertising and promotionPrograms $9,089 · Fundraising $8,115$17,204
IX-13 Office expensesPrograms $1,691 · Management $291 · Fundraising $521$2,503
IX-14 Information technologyPrograms $10,181 · Management $4,810 · Fundraising $4,303$19,294
IX-16 OccupancyPrograms $9,550 · Management $2,181 · Fundraising $1,669$13,400
IX-19 Conferences, conventions and meetingsPrograms $2,164 · Management $494 · Fundraising $378$3,036
IX-22 Depreciation, depletion and amortizationPrograms $2,128 · Management $2,126 · Fundraising $2,126$6,380
IX-23 InsurancePrograms $3,915 · Management $883 · Fundraising $670$5,468
IX-24 Other expenses (24a–d)Programs $4,136 · Management $768 · Fundraising $588$5,492
IX-24e All other expensesPrograms $195 · Management $442 · Fundraising $95$732
IX-25 Total functional expensesPrograms $1,502,609 · Management $40,417 · Fundraising $37,341$1,580,367
Part X · Balance sheet $17,767,454 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $864,650$1,174,538
X-10c Land, buildings and equipment, netStart of year $29,567$23,187
X-11 Publicly traded securitiesStart of year $11,357,532$16,569,729
X-16 Total assetsStart of year $12,251,749$17,767,454
X-17 Accounts payable and accrued expenses$7,080
X-18 Grants payable$2,000
X-25 Other liabilitiesStart of year $937,544$958,469
X-26 Total liabilitiesStart of year $937,544$967,549
X-27 Net assets without donor restrictionsStart of year $7,023,313$5,890,827
X-28 Net assets with donor restrictionsStart of year $4,290,892$10,909,078
X-32 Total net assets or fund balancesStart of year $11,314,205$16,799,905
X-33 Total liabilities and net assetsStart of year $12,251,749$17,767,454
Part XI · Reconciliation of net assets $16,799,905 net assets at year end
XI-1 Total revenue$7,055,591
XI-2 Total expenses$1,580,367
XI-3 Revenue less expenses$5,475,224
XI-4 Net assets at start of year$11,314,205
XI-5 Net unrealized gains (losses) on investments$10,476
XI-10 Net assets at end of year$16,799,905

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

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