Central Business District Assoc

Nonprofit profile at a glance

EIN
541384692
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Virginia Beach, VA, USA
Phone
7574907812
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$644,482
Expenses
$624,108
Assets
$699,894
Liabilities
$88,612

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

50 people listed

Executive titles in this filing

  • DANIEL HEATWOLE (PRESIDENT)
  • SCOTT KRYSTINIAK (PRESIDENT)

Highest reported compensation

  • JEANNE EVANS COX (EXECUTIVE DI): $121,276 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The central business district association of Virginia beach is committed to the pursuit of the development and implementation of a high quality mixed-use urban environment for the central business district in the city of Virginia beach. The mission of the organization will be to: 1) build public awareness of the benefits resulting from development of the central business district as the center for financial, commercial, professional and cultural activities in Virginia beach. 2) strengthen the Virginia beach economic base through the expansion of existing businesses in and the attraction of new businesses to the central business district. 3 create public spaces such as park areas within the central business district for community use and enjoyment in a safe and clean environment. 4) create networking opportunities for its members to enhance the economic vitality of its constituency 5) work with the city to safely integrate all the component areas of the central business district with ea

What it reported doing in 2024

The organization was created to promote the growth and development of the pembroke area of Virginia beach.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.5%; rating input score 85
  • Program expense ratio: 88.2%; rating input score 88
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.2%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 1.12; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 19.4%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 12% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 11.8% per year; rating input score 100; 72nd percentile among comparable filings
  • Asset growth: 15.2% per year; rating input score 100; 73rd percentile among comparable filings

Details

  • Where the money goes: 85.5% of revenue deployed · 88.2% of spending went to programs
  • Governance: 50 of 50 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $550K in reported program spending
  • Leadership: top reported pay $121K · 50 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 1/100.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.