Chesapeake Bay Wine Classic Foundation

Nonprofit profile at a glance

EIN
541831607
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Virginia Beach, VA, USA
Phone
7572009463
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Federated Giving Programs

Official website

Reported finances

Revenue
$2,805,517
Expenses
$1,945,550
Assets
$2,030,251
Liabilities
$0

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

Leadership & pay

15 people listed

Executive titles in this filing

  • TAYLOR FRANKLIN (CHAIRMAN, PRESIDENT)
  • RODNEY DUCKWORTH (VICE PRESIDENT)
  • LINDSAY HAUGHT (VICE PRESIDENT)

People named in this filing

  • STEVE BURKE (DIRECTOR)
  • JENNIE CAPPS (SECRETARY)
  • MARK NELSON (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide funds to organizations dedicated to the support and advanced education of our youth; to promote viticulture and oenology in hampton roads; to promote medical research.

What it reported doing in 2024

Donations to other charitable exempt organizations primarily focused on providing advanced education for the youth of hampton roads.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 89
  • Accountability: 84
  • Sustainability: 73
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.9%; rating input score 65
  • Program expense ratio: 90.6%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 97.8%; rating input score 98; 34th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.9%; rating input score 93; 23rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 30.7%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 1.04; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 13.9% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 13.3% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 22.4% per year; rating input score 100; 87th percentile among comparable filings

Details

  • Where the money goes: 64.9% of revenue deployed · 90.6% of spending went to programs
  • Governance: 13 of 14 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.8M in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Highest-paid contractors: 1 contractor listed · $142K reported
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 42 filed money-flow records
  • Related organizations: 41 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.