Virginia Foundation for Research and Economic Education Inc (Vafree)

Nonprofit profile at a glance

EIN
541473133
IRS 990 coverage
2010–2025
Forms available
Form 990 2025, Form 990-EZ 2020
Location
Henrico, VA, USA
Phone
5402940680
Rating confidence
Limited

Official website

Reported finances

Revenue
$219,522
Expenses
$228,893
Assets
$62,483
Liabilities
$3,075

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • CHRISTOPHER B SAXMAN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • CHRISTOPHER B SAXMAN (EXECUTIVE DIRECTOR): $135,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Virginia foundation for research and economic education is an independent association committed to protecting and strengthening Virginia's prosperous business environment through the political process. Founded in 1988, virgina free provides a wealth of objective, non-partisan information to business. Our information, services and programs foster a business community prepared to take the lead in electing legislators who advance free enterprise and responsible, pro-business government.

What it reported doing in 2025

Research and analyze all 140 legislative districts and 11 congressional districts in Virginia including demographic statistics provided by the u.s. Census bureau, actual election returns by district over a 10-year period, economic and employment statistics, and population variables. Resulting reports present scientific analyses of Virginia's political jurisdictions to pinpoint opportunities for economic growth and development as well as an assessment of the relative political strength of business and industry and free-enterprise oriented candidates.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 92
  • Accountability: 87
  • Sustainability: 20
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 96.2%; rating input score 96; 28th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.3%; rating input score 26; 26th percentile among comparable filings
  • Total-asset coverage ratio: 0.27; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 59%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -8.3% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -10.9% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 25 of 26 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $135K · 26 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 7 filed schedules · includes major donors
  • Filing history: 14 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 26/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.