Virtual Properties

Nonprofit profile at a glance

EIN
812781882
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6515237170
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.

Reported finances

Revenue
$559,119
Expenses
$961,772
Assets
$6,679,795
Liabilities
$7,473,163

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

Leadership & pay

3 people listed

Highest reported compensation

  • Jeffrey Bartleet (Board Chair): $48,516 total reported compensation
  • Beth Samy (Secretary): $1,109 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 facility space for lease to the related organization Cyber Village Academy

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 56
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 10th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -72%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 6.95; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 1.12; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0.6%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 41.4% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 45.4% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 37.5% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 1 of 3 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $962K in reported program spending
  • Leadership: top reported pay $49K · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 5 filed schedules
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.