Virginia Foundation for Educational LeadershipInc

Nonprofit profile at a glance

EIN
541773876
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2022
Location
Richmond, VA, USA
Phone
8043552777
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$228,917
Expenses
$317,486
Assets
$73,900
Liabilities
$593,578

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Dr Randy D Barrack (President)

Highest reported compensation

  • Dr Randy D Barrack (President): $255,680 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 provide through its own activities, financial and volunteer support for the educational, scientific, and charitable purposes of the Virginia Association of Secondary School Principals, Inc., hereinafter referred to as the "VASSP".The Foundation is expressly prohibited from engaging in any activity which would be inconsistent with the status of an educational, scientific, and charitable organization as defined in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, or any successor provision (the "Code").To accomplish this objective, the Foundation shall: A. Advance education in the field of pre-kindergarten through grade 16 (P-16) educational leadership and student leadership development.B. Develop and improve educational leadership in-service education by conducting education conferences, conventions, seminars, institutes, and workshops for leaders, students and student activity sponsors.C. Engage in research in the field of educational leadership and student leadersh

What it reported doing in 2024

VIRGINIA PRINCIPALS MENTORING PILOT GRANTSummary - Working collaboratively with the Virginia Department of Education (VDOE), the Virginia Association of Secondary School Principals (VASSP), Virginia Association of Elementary School Principals (VAESP), and Virginia Foundation for Educational Leadership (VFEL) led the piloting of a new mentoring program for school administrators. Additional support was provided to VFEL and VASSP by the National Association of Secondary School Principals (NASSP). VFEL served as the financial agent for the grant, handling such areas including but limited to salaries, contracts with personnel, and ordering of materials. VFEL has contracted with VDOE in the past in similar projects.Titled the Virginia Principals Mentoring Pilot (VPMP), this program served two purposes. First, the VPMP provide experienced principals with knowledge, skills, and support from their initial appointment throughout their beginning three-year period as a mentor. Second, the VPMP was to establish a platform to train mentors to work with newer principals within that beginning three-year period.Most importantly, VPMP was to have principals participating in high quality, targeted professional development that assists in the transition to school leadership, examines the realities of principalship, and provides individualized support. The mentoring program was to establish a safe space for beginner principals to grow in their role; problem solve and engage in an impactful way with peers.The pilot proposal discussions began in August 2023 with representatives from VDOE, VASSP, VAESP, and VFEL. Administering of the pilot began in the spring of 2024. It ended in February 2025.

Operating model

Revenue model
Grant-funded. 100% of the money available for current operations came from government grants.
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 - A large share of available resources goes toward mission work and most voting board members are independent. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 60
  • Accountability: 90
  • Sustainability: 10
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.8%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -38.7%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 0.23; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 8.03; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 19.4%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: -9.2% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -13.4% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -12.5% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.8% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $288K in reported program spending
  • Leadership: top reported pay $256K · 12 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 4 filing years from 2012 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 — Sustainability: Operating margin scored 7/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.