Virginia's Innovation Crossroads

Legal name: Fredericksburg Regional Alliance Inc

Nonprofit profile at a glance

EIN
541961653
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Fredericksburg, VA, US
Phone
(540) 361-7373
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Business and Industry

Official website

Reported finances

Revenue
$1,250,132
Expenses
$1,032,528
Assets
$1,599,953
Liabilities
$306,100

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

Leadership & pay

20 people listed

Executive titles in this filing

  • CURRY ROBERTS (PRESIDENT)

Highest reported compensation

  • CURRY ROBERTS (PRESIDENT): $263,967 total reported compensation

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

Overview

Mission

Uniting communities for regional progress and innovation. Where three counties and a city join forces to create an ideal business environment.

What it reported doing in 2024

Marketing to fredericksburg regional corporate decision-makers to expand or relocate their companies. Attendance at marketing and tradeshows to market the region. Assistance to existing businesses and industries with workforce development issues.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 74
  • Accountability: 90
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.1%; rating input score 58
  • Program expense ratio: 70.1%; rating input score 70
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.4%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 1.55; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.19; rating input score 32; 32nd percentile among comparable filings
  • Officer compensation ratio: 25.6%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 1.7% per year; rating input score 100; 25th percentile among comparable filings
  • Revenue growth: 7.3% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 25th percentile among comparable filings

Details

  • What they do: 4 operating locations identified
  • Where the money goes: 58.1% of revenue deployed · 70.1% of spending went to programs
  • Governance: 19 of 19 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $724K in reported program spending
  • Leadership: top reported pay $264K · 20 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 4 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 32/100.