Virginia Capitol Foundation

Nonprofit profile at a glance

EIN
651210653
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8047861012
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations

Reported finances

Revenue
$72,315
Expenses
$40,020
Assets
$430,288
Liabilities
$23,826

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

Leadership & pay

7 people listed

Executive titles in this filing

  • Karen La Forge (Executive Director)

People named in this filing

  • G Paul Nardo (Director)
  • Susan Clarke Schaar (Secretary)
  • Harry F Byrd IV (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 support the restoration and preservation of Virginia's historic capitol square, comprising the state capitol building, executive mansion, bell tower, state office buildings and grounds, by providing funds to restore, preserve, acquire, and interpret art, artifacts, furnishings, historic finishes, landscaping and such other materials as will enhance these historic properties and strengthen their inherent educational opportunities and by creating an endowment fund to perpetuate those charitable activities.

What it reported doing in 2024

Fundraising and program development efforts to accomplish the exempt purpose of providing funds to restore and preserve Virginia's historic capitol square.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 29
  • Transparency & Controls: 92
  • Accountability: 88
  • Sustainability: 69
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 20.7%; rating input score 21
  • Program expense ratio: 37.4%; rating input score 37
  • Fundraising efficiency: $7.63 raised per $1 spent on fundraising; rating input score 48; 48th 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 44.7%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 10.75; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -9.3% per year; rating input score 0; 30th percentile among comparable filings
  • Revenue growth: -22.1% per year; rating input score 0; 18th percentile among comparable filings
  • Asset growth: -25.3% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 20.7% of revenue deployed · 37.4% of spending went to programs
  • Governance: 6 of 6 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $15K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 21/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 37/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 48/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.