Global Friendship Ventures

Nonprofit profile at a glance

EIN
263754915
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Norfolk, VA, USA
Phone
7575377682
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Adult, Continuing Education

Official website

Reported finances

Revenue
$768,977
Expenses
$770,447
Assets
$3,643,946
Liabilities
$31,564

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

Leadership & pay

13 people listed

Executive titles in this filing

  • RICHARD HARDISON (PRESIDENT)

People named in this filing

  • KATHY STRICKLAND (TREASURER)
  • RICHARD HARDISON (PRESIDENT)
  • MIKE ANDREWS (VICE PRESIDE)

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 faciliate friendship and community among international students studying in norfolk, Virginia area. To provide assistance to international students seeking to understand how to adapt to collegiate life in the united states.

What it reported doing in 2024

Program expenses expenses related to providing activities for all international students at universities in the hampton roads area which includes meals with students, welcome bags, welcome luncheon and tour of the area, friday night dinners with speakers relevant to international students, wives activities, thanksgiving banquet, food for students financially struggling, receiving and distributing furniture and items to furnish apartsments, sports viewing parties, trips to local attractions and a day trip to lake gaston for meals and water sports.

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

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 59
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.9%; rating input score 100
  • Program expense ratio: 99.7%; rating input score 100
  • Fundraising efficiency: Limited

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: 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: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • 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: -0.2%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 4.73; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 6.4% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: -4.2% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 99.9% of revenue deployed · 99.7% of spending went to programs
  • Governance: 13 of 13 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $768K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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: 5 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • High — Growth: Asset growth scored 0/100.