Discover the Real West Virginia Foundation Inc

Nonprofit profile at a glance

EIN
550725474
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Charleston, WV, USA
Phone
3043450700
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Official website

Reported finances

Revenue
$223,964
Expenses
$181,167
Assets
$137,513
Liabilities
$6,948

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

Leadership & pay

18 people listed

Executive titles in this filing

  • PATRICK ROBERTSON (PRESIDENT)

Highest reported compensation

  • SARA DEARING (EXECUTIVE DI): $95,068 total reported compensation

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

Overview

Mission

-attract national and international investment: West Virginia is becoming a leader in the world marketplace, and it did not arrive here by accident. The foundation has a long and accomplished history of attracting national and international investment by elevating West Virginia's stature in the global business arena. -retain and expand West Virginia businesses: the foundation is a strategic partner for West Virginia businesses. Its programs focus on providing West Virginia businesses the resources they need to grow and succeed in today's global economy. -highlight issues critical to economic growth: the organization seeks to highlight issues or topics critical to economic growth and to facilitate action among stakeholders.

What it reported doing in 2024

Friends of drwv reception 2024

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 54
  • Transparency & Controls: 92
  • Accountability: 90
  • Sustainability: 48
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.4%; rating input score 52
  • Program expense ratio: 64.5%; rating input score 65
  • Fundraising efficiency: $6.28 raised per $1 spent on fundraising; rating input score 27; 27th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.1%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 0.76; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 52.5%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 9.6% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 52.4% of revenue deployed · 64.5% of spending went to programs
  • Governance: 17 of 17 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $117K in reported program spending
  • Leadership: top reported pay $95K · 18 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 13 filing years from 2011 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.

  • Review — Financial Efficiency: Mission deployment rate scored 52/100.
  • High — Financial Efficiency: Fundraising efficiency scored 27/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.