Lead Virginia

Nonprofit profile at a glance

EIN
593806367
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-T 2020
Location
Richmond, VA, USA
Phone
8046445323
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Leadership Development

Official website

Reported finances

Revenue
$867,993
Expenses
$899,661
Assets
$587,926
Liabilities
$104,600

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

Leadership & pay

39 people listed

Executive titles in this filing

  • SUSAN HORNE (PRESIDENT &)

Highest reported compensation

  • SUSAN HORNE (PRESIDENT &): $197,979 total reported compensation

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

Overview

Mission

Lead Virginia connects leaders to shape the commonwealth's future through an annual program of educational forums and regional session visits to six diverse regions of Virginia. Framed around social capital theory and curriculum themes of economy, education and health, lead Virginia's annual program attracts high performing leaders, challenges pre-conceived notions and provides participants with a 360-degree perspective of Virginia's regions and their mutual interdependence. Graduates of the program are informed on issues important to Virginia's future and prepared to serve at local, regional and statewide capacities with their statewide perspective.

What it reported doing in 2024

Lead Virginia encourages alumni engagement following completion of its annual class program by offering events designed to stimulate intellectual inquiry, stay informed on timely topics and continue to build social capital among its alumni network of high performing leaders across the commonwealth. Events include the conversations with leaders speaker series and an annual alumni conference.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 70
  • Accountability: 93
  • Sustainability: 27
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.3%; rating input score 70
  • Program expense ratio: 66.2%; rating input score 66
  • Fundraising efficiency: $3.72 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • 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: 97.4%; rating input score 97; 26th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.6%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.65; rating input score 30; 30th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 22%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 16th percentile among comparable filings
  • Revenue growth: -0.1% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: -1.6% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 70.3% of revenue deployed · 66.2% of spending went to programs
  • Governance: 38 of 39 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $595K in reported program spending
  • Leadership: top reported pay $198K · 39 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 10 filing years from 2014 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.

  • High — Financial Efficiency: Fundraising efficiency scored 12/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 30/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.