Richard Bland College Foundation Inc

Nonprofit profile at a glance

EIN
510227721
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Petersburg, VA, USA
Phone
8048626200
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Undergraduate College (4-year)

Official website

Reported finances

Revenue
$2,226,443
Expenses
$1,624,414
Assets
$26,299,751
Liabilities
$16,809,465

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

Leadership & pay

24 people listed

People named in this filing

  • JEFFREY M BRITT (CHAIRMAN)
  • MEGAN SAMFORD (VICE-CHAIRMAN)
  • WILL CLEMENTS (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

To aid, strengthen, and extend in every proper and useful manner the work, service, and objectives of richard bland college.

What it reported doing in 2024

Distributions to and in support of richard bland college.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 66% for direct work, and 34% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Assets have declined or grown slowly and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 79
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.7%; rating input score 75
  • Program expense ratio: 90.8%; rating input score 91
  • Fundraising efficiency: $23.64 raised per $1 spent on fundraising; rating input score 64; 64th percentile among comparable filings

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: 100%; rating input score 100; 72nd 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 27%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 16.19; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.64; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: -0.8% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 74.7% of revenue deployed · 90.8% of spending went to programs
  • Governance: 24 of 24 board members independent · 7 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $0 · 24 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 8 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 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 — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.