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R E B Foundation FY2022 filing

Tax-deductible

Richmond, VA501(c)(3)Foundations & Grantmakers EIN 52-1206536Revenue $1.9M in FY2022

On file with the IRS3409 Moore St, 23230-4443 · Richmond, VATax-exempt since Mar 2018Supporting org, Type I — 509(a)(3)

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Supports awards for teaching excellence and distinguished educational leadership as well as annual grants to educational, cultural and social service programs.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
2 of 5
filings with a surplus
Average surplus $558K a year · 16% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Plus $64.1M in investments, Pt X · Ln 11–13
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$699
<0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.9M
-73% vs prior year
Spent
$3.3M
To programs
90%
Net assets
$65.1M
By yearFY2020–FY2024
Revenue
$1.9M
FY2022▼ -73%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.1M
FY2021$7.1M
FY2022$1.9M
FY2023$4.4M
FY2024$2.2M
Expenses
$3.3M
FY2022▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.3M
FY2021$2.9M
FY2022$3.3M
FY2023$3.4M
FY2024$3.2M
Net assets
$65.1M
FY2022▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2020$65.3M
FY2021$74.3M
FY2022$65.1M
FY2023$65.4M
FY2024$69.1M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 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 Mar 2018.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $2.9M Management & general 10% · $329K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Carol B Showker
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See R E B 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Awards teaching excellence and educational leadership, funding programs in education, culture, and social services.

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Provided by the organization

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3 programs · $2.4M · in their own filed words · FY2022
01

Annual grants made to the community foundation, inc. For disbursement to educational, cultural, and social service programs.

$2.0Mprogram expense
02

Grants made to the community foundation, inc. To fund the R.E.B. Awards for distinguished educational leadership, which recognizes principals who go beyond the day-to-day demands of their position to create an exceptional educational environment.

$260Kprogram expense
03

Grants made to the community foundation, inc. To fund the R.E.B. Awards for teaching excellence, which recognizes public school teachers who distinguish themselves by their inspiring classroom performance.

$215Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $13.0M · 2020–2024
The Community Foundation INCVA · FY2024$2,866,710
The Community Foundation INCVA · FY2023$2,913,628
The Community Foundation INCVA · FY2022$2,928,224
The Community Foundation INCVA · FY2021$2,559,189
The Community Foundation INCVA · FY2020$1,703,270

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.9M
Ln 12
Investment incomeLn 3$1.9M
Money outPt IX
$3.3M
Ln 25
Programscol B$2.9M
Managementcol C$329K
Owns and owesPt X
$65.1M
net assets · Ln 32
Cash and savingsLn 1–2$977K
Total assetsLn 16$65.1M
LiabilitiesLn 26$699
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$1.9M
Gains on assetsLn 7$1.3M
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
SavingsLn 2$977K
Cash and savings togetherLn 1–2$977K
InvestmentsLn 11–13$64.1M
Total assetsLn 16$65.1M
LiabilitiesLn 26$699
Net assetsLn 32$65.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
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 FY22End FY22
Cash and savingsLn 1–2$1.3M$977K
InvestmentsLn 11–13$72.9M$64.1M
Total assetsLn 16$74.3M$65.1M
LiabilitiesLn 26$0$699
Net assetsLn 32$74.3M$65.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2.9M$2.9M
Accounting feesLn 11c$9K$9K
Investment management feesLn 11f$296K$296K
Office expensesLn 13$8K$5K$3K
Other expenses (24a–d)Ln 24$22K$1K$21K
Total functional expensesLn 25$3.3M$2.9M$329K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.2M$3.2M−$992K$69.1M 990 PDF
FY2023 $4.4M$3.4M$1.0M$65.4M 990 PDF
FY2022 Viewing $1.9M$3.3M−$1.3M$65.1M 990 PDF
FY2021 $7.1M$2.9M$4.3M$74.3M 990 PDF
FY2020 $2.1M$2.3M−$161K$65.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $1,925,016 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $7,129,670$1,925,016
I-11 Other revenuePrior year $277$0
I-12 Total revenuePrior year $7,129,947$1,925,016
I-13 Grants and similar amounts paidPrior year $2,559,189$2,928,224
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $303,814$334,794
I-18 Total expensesPrior year $2,863,003$3,263,018
I-19 Revenue less expensesPrior year $4,266,944−$1,338,002
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $1,925,016 across 3 lines filed
VIII-3 Investment incomeUnrelated business −$76,248 · Excluded from tax $668,557$592,309
VIII-7 Net gain or loss on sales of assetsUnrelated business $464,717 · Excluded from tax $867,990$1,332,707
VIII-12 Total revenueRelated to mission $0 · Unrelated business $388,469 · Excluded from tax $1,536,547$1,925,016
Part IX · Statement of functional expenses $3,263,018 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $2,928,224$2,928,224
IX-11c Accounting feesManagement $9,047$9,047
IX-11f Investment management feesManagement $295,727$295,727
IX-13 Office expensesPrograms $4,596 · Management $3,064$7,660
IX-24 Other expenses (24a–d)Programs $1,238 · Management $21,122$22,360
IX-25 Total functional expensesPrograms $2,934,058 · Management $328,960 · Fundraising $0$3,263,018
Part X · Balance sheet $65,078,763 assets, 8 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,343,725$977,134
X-12 Other securitiesStart of year $72,943,890$64,101,629
X-16 Total assetsStart of year $74,287,615$65,078,763
X-17 Accounts payable and accrued expensesStart of year $0$699
X-26 Total liabilitiesStart of year $0$699
X-27 Net assets without donor restrictionsStart of year $74,287,615$65,078,064
X-32 Total net assets or fund balancesStart of year $74,287,615$65,078,064
X-33 Total liabilities and net assetsStart of year $74,287,615$65,078,763
Part XI · Reconciliation of net assets $65,078,064 net assets at year end
XI-1 Total revenue$1,925,016
XI-2 Total expenses$3,263,018
XI-3 Revenue less expenses−$1,338,002
XI-4 Net assets at start of year$74,287,615
XI-5 Net unrealized gains (losses) on investments−$7,871,549
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$65,078,064

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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