Hampton Roads Workforce Foundation

Nonprofit profile at a glance

EIN
202957424
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2015
Location
Norfolk, VA, USA
Phone
7573142370
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Support N.E.C.

Official website

Reported finances

Revenue
$1,371,178
Expenses
$1,401,476
Assets
$289,377
Liabilities
$34,355

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

Leadership & pay

9 people listed

Executive titles in this filing

  • SHAWN AVERY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SHAWN AVERY (EXECUTIVE DIRECTOR): $310,514 total reported compensation

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

Overview

Mission

Enhance and expand workforce development in the area, especially for youth and veterans.

What it reported doing in 2024

The foundation works to increase financial resources to expand and create workforce development programs and services that sustain and grow the hampton roads' regional economy.the hampton roads workforce foundation is organized to receive, maintain and administer assets in perpetuity exclusively for the purpose of conducting, supporting and furthering workforce development programs in the region.expenses were disbursements for programs operated by the supported entity hampton roads workforce council, a local goverment entity.

Operating model

Revenue model
Donor-supported. 94% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 71
  • Accountability: 74
  • Sustainability: 22
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.9%; rating input score 90
  • Program expense ratio: 88%; rating input score 88
  • Fundraising efficiency: $10.71 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: -2.2%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 7.8% per year; rating input score 100; 55th percentile among comparable filings
  • Revenue growth: 8.4% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: -6.6% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 89.9% of revenue deployed · 88% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $311K · 9 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.