The Southeast Virginia Community Foundation

Nonprofit profile at a glance

EIN
272529017
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Chesapeake, VA, USA
Phone
7573975424
Rating
88
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,521,800
Expenses
$919,484
Assets
$18,286,819
Liabilities
$2,240,595

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

Leadership & pay

16 people listed

Executive titles in this filing

  • RICHARD E H WENTZ (CEO)
  • STEPHEN KORVING (PRESIDENT)

Highest reported compensation

  • RICHARD E H WENTZ (CEO): $67,400 total reported compensation

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

Overview

Mission

Sevacf enhances the quality of the life in south hampton roads by connecting people who care with causes large and small, managing charitable funds, and providing grants and scholarships for (continued on schedule o)

What it reported doing in 2024

The foundation makes grants to nonprofit organizations in the charitable areas of arts & culture, capital & operating support, education; health and human services; civic and economic development; and religious. Grants are suggested by fund advisors, are made from designated or field of interest funds, or are recommended and approved by the board of directors from the community needs fund (discretionary funds from unrestricted dollars.)

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 72% of its reported program spending out as grants.

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: 96
  • Transparency & Controls: 84
  • Accountability: 95
  • Sustainability: 80
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 95.7%; rating input score 96
  • Fundraising efficiency: $51.2 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 84.5%; rating input score 84; 36th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 39.6%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 19.89; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 7.3%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: -1.3% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: -0% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 38th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 95.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 7 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $880K in reported program spending
  • Leadership: top reported pay $67K · 16 people listed
  • Consistency: 33 of 34 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 31 filed money-flow records
  • Related organizations: 20 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: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.