Virginia Beach Public Schools Education Foundation and Subsidiary

Nonprofit profile at a glance

EIN
541637620
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Virginia Beach, VA, USA
Phone
7572631069
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Education

Official website

Reported finances

Revenue
$720,861
Expenses
$582,031
Assets
$3,356,414
Liabilities
$95,034

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

Leadership & pay

20 people listed

Executive titles in this filing

  • WILL MORALES (PRESIDENT)
  • MONICA CURRY (PRESIDENT EL)

Highest reported compensation

  • DEBBIE HUGHES (COORDINATOR): $103,552 total reported compensation

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

Overview

Mission

To make a difference in the epublic schools of Virginia beach by raising private sector support to fund innovative and creative learning programs and to reward educational exellence using grants to help support pilot programs run by the school system educators.

What it reported doing in 2024

Student support - the beach bags program, which provideds shelf-stable food to Virginia beach public school students in need of food during weekends and holidays, is a program for which funds are restricted through the foundation. My friend's closet provides clothing to Virginia beach public school students in need. Back to school care items are also provided to students. Additional restricted funding designated by donors may also be made to benefit Virginia beach students.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 57% for direct work, and 43% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 94
  • Accountability: 84
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.9%; rating input score 81
  • Program expense ratio: 92.7%; rating input score 93
  • Fundraising efficiency: Limited

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; 76th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.3%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 5.77; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 11% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 8.8% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 4.7% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 80.9% of revenue deployed · 92.7% of spending went to programs
  • Governance: 19 of 19 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $540K in reported program spending
  • Leadership: top reported pay $104K · 20 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 3 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.