Portsevents Inc

Nonprofit profile at a glance

EIN
264407877
IRS 990-EZ coverage
2011–2025
Forms available
Form 990-EZ 2025
Location
Portsmouth, VA, USA
Phone
7573978473
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$56,759
Expenses
$56,130
Assets
$9,128

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • ROSS CHERRY (PRESIDENT)

People named in this filing

  • ROSS CHERRY (PRESIDENT)
  • MATT TUTTLE (VICE PRESIDE)
  • DR ROBERTA HANSEL-UNION (SECRETARY/TR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's mission is to help put "feet on the street" in portsmouth, particularly its olde towne district, through the production and support of events and activities that will attract both current and new visitors to olde towne. Portsevents wishes to reverse the negative image of portsmouth held by many in the region and beyond, to partner from time to time with other organizations who share a similar mission, and to build a reputation for portsmouth as a safe, fun and exiting place for people all ages to live, work and play.

What it reported doing in 2025

Market and promote events within the city of portsmouth Virginia.

Operating model

Revenue model
Earned-program. 91% of the money available for current operations came from fees and other program revenue.
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. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 99
  • Transparency & Controls: 100
  • Sustainability: 33
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.9%; rating input score 99
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 1.1%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.16; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -0.5% per year; rating input score 0; 46th percentile among comparable filings
  • Revenue growth: -2.2% per year; rating input score 0; 42nd percentile among comparable filings
  • Asset growth: -4.8% per year; rating input score 0; 25th percentile among comparable filings

Details

  • Where the money goes: 98.9% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $56K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.