Virginia Sports Hall of Fame Inc

Nonprofit profile at a glance

EIN
237349939
IRS 990 coverage
2011–2019
Forms available
Form 990 2019
Location
Virginia Beach, VA, USA
Phone
7573938031
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Museum, Museum Activities

Reported finances

Revenue
$-1,467
Expenses
$62,779
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • WILLIAM DRISCOLL (EXECUTIVE DIRECTOR)

Highest reported compensation

  • WILLIAM DRISCOLL (EXECUTIVE DIRECTOR): $66,189 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To honor the accomplishments of Virginia's finest athletes and to educate visitors and particularly the children of the state about the value of sports in lives of all who participate.

What it reported doing in 2019

Operation of the Virginia sports hall of fame museum complete with educational exhibits, hands-on activities, memorabilia, etc. Celebrating the lives and accomplishments of Virginia's finest athletes.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 96% 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. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 79
  • Sustainability: 4
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.7%; rating input score 100
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90.9%; rating input score 91; 26th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4,379.4%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 9.9%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: -26.4% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: -17.7% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: -20.3% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.7% of spending went to programs
  • Governance: 10 of 11 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $63K in reported program spending
  • Leadership: top reported pay $66K · 11 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 9 filing years from 2011 to 2019
  • 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 — Financial Efficiency: Fundraising efficiency scored 4/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.