Science Museum of Virginia Foundation Inc

Nonprofit profile at a glance

EIN
237185836
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Richmond, VA, USA
Phone
8048641546
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$4,003,187
Expenses
$4,057,565
Assets
$35,571,891
Liabilities
$2,185,140

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

Leadership & pay

26 people listed

Executive titles in this filing

  • ELENA EDWARDS (PRESIDENT)
  • ROBERT FEESER (IMMEDIATE PAST PRESIDENT)
  • JAMALA ARLAND (VICE PRESIDENT)
  • THOMAS Q BENEDETTI (VICE PRESIDENT)
  • ANNE MARIE ELLES (VICE PRESIDENT)
  • STEPHEN T HOLDYCH (VICE PRESIDENT)

Highest reported compensation

  • SUSAN ROCKWELL - ENDED 052025 (DIRECTOR OF ADVANCEMENT): $178,082 total reported compensation
  • PATRICIA MURPHY (CHIEF FINANCIAL OFFICER): $150,089 total reported compensation
  • KINSEY PEELER - ENDED 032024 (EXECUTIVE DIRECTOR): $123,649 total reported compensation

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

Overview

Mission

The science museum of Virginia foundation, inc. Serves as the private fundraising partner of the science museum of Virginia, a state institution that was founded in 1970 by both the Virginia academy of science and the Virginia general assembly to "raise the public understanding of science and technology throughout the commonwealth." the museum, as a state supported cultural institution, receives approximately 50 percent of its annual support from the commonwealth of Virginia. Additional support is raised by the foundation through charitable contributions (annual gifts and permanent endowment gifts), grants, capital campaign gifts, fundraising events and investment income. Funds from the foundation are granted to the science museum on an annual basis to support the programs, projects and operations that are authorized and approved by the trustees of the museum.

What it reported doing in 2024

Educational programming and outreach: the science museum of Virginia foundation supports museum educational programming in the form of classes, activities, lectures, educational workshops and training for all ages, and provides funding for group museum visits for schoolchildren and community organizations.

Operating model

Revenue model
Donor-supported. 61% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.
  • 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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 71
  • Accountability: 97
  • Sustainability: 50
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.1%; rating input score 77
  • Program expense ratio: 69.7%; rating input score 70
  • Fundraising efficiency: $3.31 raised per $1 spent on fundraising; rating input score 10; 10th 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; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.5%; rating input score 95; 26th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1.4%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 8.77; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 14%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: -0.3% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 77.1% of revenue deployed · 69.7% of spending went to programs
  • Governance: 21 of 22 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $2.8M in reported program spending
  • Leadership: top reported pay $178K · 26 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 35 of 36 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.