Vma INC FY2020 filing

Not tax-deductible

Ormond Beach, FL501(c)(6)EIN 59-2119052

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The purpose of the Vma is to provide information, education, & networking opportunities for local manufacturers. In addition, the association holds an annual golf tournament whose funds help support stem programs in all schools and colleges in the area.

$94K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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 deficit $3K a year · 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$94K
to officers and key staff · 48% of spending
Concern: pay to officers and key staff is 48% of spending; over 30%.
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
Liabilities
$7K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$194K
Spent
$194K
Net assets
$137K
By yearFY2020–FY2024
Revenue
$194K
FY2020
Revenue by fiscal year
FY2020$194K
FY2021$274K
FY2022$233K
FY2023$212K
FY2024$222K
Expenses
$194K
FY2020
Expenses by fiscal year
FY2020$194K
FY2021$255K
FY2022$262K
FY2023$245K
FY2024$192K
Net assets
$137K
FY2020
Net assets by fiscal year
FY2020$137K
FY2021$156K
FY2022$127K
FY2023$94K
FY2024$123K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 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 Jun 1982.

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

Who runs it and what they're paid

17 people listed on the 990; $94K paid to officers and key staff.

Part VII, Section A · reportable compensation
President/CEO
$94,215Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

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

NameFY2024FY2023FY2022FY2021FY2020
Jessica Lovatt$97,583$87,000$87,000$69,053—
Jayne Fifer—$53,833$56,000$75,620$94,215

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 Vma 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

Connects local manufacturers, educates them, and funds STEM programs through an annual golf tournament.

Provided by the organization

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1 program · in their own filed words · FY2020
01

Networking in the business sector. Plant tours & showcase products produced in the area. During 2020, the organization conducted one plant tour (32 attendees), two human resource division meetings (53 attendees), and one environmental health and safety division meeting (19 attendees).

Pt IX · col B

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 · 4 grants · $37K · 2021–2024
Unitemized GrantFY2024$13,800
Unitemized GrantFY2023$11,875

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$194K
Ln 12
Fees for servicesLn 2g$143K
Other incomeLn 4–11$50K
Gifts and grantsLn 1h$1K
Money outPt IX
$194K
Ln 25
Owns and owesPt X
$137K
net assets · Ln 32
Cash and savingsLn 1–2$145K
Total assetsLn 16$145K
LiabilitiesLn 26$7K
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1K
Fees for servicesLn 2g$143K
Investment incomeLn 3$399
Other incomeLn 4–11$50K
Total revenueLn 12$194K
Assets in detailPt X, end of year
CashLn 1$28K
SavingsLn 2$117K
Cash and savings togetherLn 1–2$145K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$145K
LiabilitiesLn 26$7K
Net assetsLn 32$137K
OperationsPt I, VI
EmployeesI 52
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$144K$145K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$144K$145K
LiabilitiesLn 26$6K$7K
Net assetsLn 32$138K$137K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$9K
Pay of current officers, directors and key staffLn 5$96K
Other salaries and wagesLn 7$53K
Payroll taxesLn 10$11K
Accounting feesLn 11c$2K
Office expensesLn 13$985
Information technologyLn 14$5K
OccupancyLn 16$5K
TravelLn 17$958
Conferences, conventions and meetingsLn 19$283
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$7K
Total functional expensesLn 25$194K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $222K$192K$30K$123K 990 PDF
FY2023 $212K$245K−$33K$94K 990 PDF
FY2022 $233K$262K−$29K$127K 990 PDF
FY2021 $274K$255K$19K$156K 990 PDF
FY2020 Viewing $194K$194K−$26$137K 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 FY2020 990 (4 parts)
Part VIII · Statement of revenue $194,248 across 6 lines filed
VIII-1f All other contributions, gifts and grants$1,100
VIII-1h Total contributions, gifts and grants$1,100
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $143,097$143,097
VIII-3 Investment incomeExcluded from tax $399$399
VIII-8 Net income from fundraising eventsExcluded from tax $49,652$49,652
VIII-12 Total revenueRelated to mission $143,097 · Unrelated business $0 · Excluded from tax $50,051$194,248
Part IX · Statement of functional expenses $194,274 across 12 lines filed
IX-1 Grants to domestic organizations$9,392
IX-5 Pay of current officers, directors and key staff$96,353
IX-7 Other salaries and wages$52,761
IX-10 Payroll taxes$11,357
IX-11c Accounting fees$1,800
IX-13 Office expenses$985
IX-14 Information technology$5,445
IX-16 Occupancy$5,000
IX-17 Travel$958
IX-19 Conferences, conventions and meetings$283
IX-23 Insurance$2,460
IX-24 Other expenses (24a–d)$7,480
IX-25 Total functional expenses$194,274
Part X · Balance sheet $144,655 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $14,547$27,928
X-2 Savings and temporary cash investmentsStart of year $129,328$116,727
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $143,875$144,655
X-17 Accounts payable and accrued expensesStart of year $6,120$7,172
X-25 Other liabilitiesStart of year $246$0
X-26 Total liabilitiesStart of year $6,366$7,172
X-32 Total net assets or fund balancesStart of year $137,509$137,483
X-33 Total liabilities and net assetsStart of year $143,875$144,655
Part XI · Reconciliation of net assets $137,483 net assets at year end
XI-1 Total revenue$194,248
XI-2 Total expenses$194,274
XI-3 Revenue less expenses−$26
XI-4 Net assets at start of year$137,509
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$137,483

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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