Henrico County Vocational Technical Education Foundation Inc

Nonprofit profile at a glance

EIN
541423600
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Henrico, VA, USA
Phone
8047811818
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$65,831
Expenses
$99,565
Assets
$2,112,055
Liabilities
$0

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

Leadership & pay

14 people listed

Executive titles in this filing

  • F PHILIP PARKER JR (PRESIDENT)

People named in this filing

  • F PHILIP PARKER JR (PRESIDENT)
  • DOMINIQUE CHAPMAN (VICE PRESIDE)
  • MICHAEL EDWARDS CPA (TREASURER)

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

The primary exempt purpose of the foundation is to provide a hands on vocational education experience that is not otherwise available in the community.

What it reported doing in 2024

The foundation donated 7,500 to three henrico county Virginia public high school technical centers (highland springs technical center, the academy at Virginia randolph, and hermitage technical center) and 3,394 of scholarships to the henrico county public schools cte program to support academic needs of students who otherwise could not afford the cost of the school programs.

Operating model

Revenue model
Investment-supported. 96% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 89% 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 - 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 71
  • Accountability: 70
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 80%; rating input score 80; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 68.8%; rating input score 69; 48th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -51.2%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 21.21; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 20.8% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: -1,482.9% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 20.6% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 14 of 14 board members independent · 2 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $100K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 16 of 18 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: 4 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 29/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.