Virginia Foundation for Public Media

Nonprofit profile at a glance

EIN
822118572
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Richmond, VA, USA
Phone
8043201301
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$8,332,836
Expenses
$8,499,081
Assets
$224,271,311
Liabilities
$37,984,675

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

Leadership & pay

11 people listed

Executive titles in this filing

  • JAYME SWAIN (CEO AND PRESIDENT)

Highest reported compensation

  • JAYME SWAIN (CEO AND PRESIDENT): $463,965 total reported compensation
  • DANIEL SMYTHE (CHIEF INVESTMENT OFFICER): $324,643 total reported compensation
  • GARY OMETER (CFO): $293,712 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 foundation operates as a "supporting organization" by providing funding to support the charitable and educational activities of vpm media corporation.

What it reported doing in 2024

The foundation operates as a "supporting organization" by providing funding to support the charitable and educational activities of vpm media corporation, a Virginia nonstock corporation and a publicly supported organization described in sections 501(c)(3), 509(a)(1), and 170(b)(1)(a)(vi) of the internal revenue code.

Operating model

Revenue model
Investment-supported. 66% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% 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. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 56
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • 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: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 26.39; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 1%; rating input score 80; 80th percentile among comparable filings

Growth

  • Program expense growth: 9.1% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: -49.5% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: 3.8% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.7% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $7.9M in reported program spending
  • Leadership: top reported pay $464K · 11 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $33.5M reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 8 filing years from 2017 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.

  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.