VIRGINIA'S GATEWAY REGION T/A VIRG… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

Principal Officer

KEITH BOSWELL

Phone

8047328971

Tax Period

2024-07-01 to 2025-06-30

VIRGINIA'S GATEWAY REGION T/A VIRGINIA'S GATEWAY REGION, founded in 2003, is a small nonprofit in the Community Improvement sector that reported $918K in total revenue in fiscal year 2024. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $1.2M exceeded revenue, resulting in a 27% operating deficit.

Mission

THE ORGANIZATION EXISTS TO ENHANCE THE ECONOMIC DEVELOPMENT OPPORTUNITIES FOR THE CITIES OF COLONIAL HEIGHTS, HOPEWELL AND PETERSBURG, AND THE COUNTIES OF DINWIDDIE, PRINCE GEORGE, SURRY AND SUSSEX.

Program Service Accomplishments

Program 1

Expenses: $888,649

THE ORGANIZATION FACILITATES NEW BUSINESS OPPORTUNITIES, WORKS WITH EXISTING BUSINESS, ADVANCES RESOURCES THAT WILL ENHANCE THE ECONOMIC VIABILITY OF THE REGION AND FOSTERS REGIONAL COOPERATION AMONG THE PUBLIC AND PRIVATE ENTITIES THAT ARE INVOLVED IN ECONOMIC DEVELOPMENT ACTIVITIES. THE ORGANIZATION'S MISSION IS TO FOSTER REGIONAL PROSPERITY THROUGH BUSINESS GROWTH, POWERFUL PARTNERSHIPS AND DELIVERING INNOVATIVE RESOURCES TO ITS COMMUNITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $862,808

Program Service Revenue $0

Investment Income $55,282

Other Revenue $0

TOTAL REVENUE $918,090

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $202,013

Program Expenses $888,649

Other Expenses $1,162,594

TOTAL EXPENSES $1,162,594

Year-over-Year Comparison

	2024	2023	Change
Revenue	$918,090	$1,218,935	-0.2%
Expenses	$1,162,594	$1,458,977	-0.2%
Net Income	$-244,504	$-240,042	+0.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TAVORISE MARKS	DIRECTOR	0.30	Director	$0	$0	$0
HAMPTON GORDON JR	DIRECTOR	0.30	Director	$0	$0	$0
FLOYD BROWN	DIRECTOR	0.30	Director	$0	$0	$0
BECKY MCDONOUGH	DIRECTOR	0.30	Director	$0	$0	$0
SAMUEL PARHAM	DIRECTOR	0.30	Director	$0	$0	$0
GREGORY KOCHUBA	DIRECTOR	0.30	Director	$0	$0	$0
GERRY QUINDOZA	DIRECTOR	0.30	Director	$0	$0	$0
WILL CLEMENTS	DIRECTOR	0.30	Director	$0	$0	$0
DAN LEE	DIRECTOR	0.30	Director	$0	$0	$0
REX DAVIS	CHAIRMAN	0.30	Officer Director	$0	$0	$0
CHRISTINE CHANDLER	VICE CHAIR	0.30	Officer Director	$0	$0	$0
MIKE COLB	DIRECTOR	0.30	Director	$0	$0	$0
DR PHYLLIS TOLLIVER	DIRECTOR	0.30	Director	$0	$0	$0
NICK WALKER	TREASURER	0.30	Officer Director	$0	$0	$0
DR WILLIAM FIEGE	DIRECTOR	0.30	Director	$0	$0	$0
BRENDA WOODCOCK	DIRECTOR	0.30	Director	$0	$0	$0
CHRIS GULLICKSON	DIRECTOR	0.30	Director	$0	$0	$0
ELSO DIFRANCO	DIRECTOR	0.30	Director	$0	$0	$0
DOMINIC HOLLOWAY	DIRECTOR	0.30	Director	$0	$0	$0
JAMES BEAZLEY	SECRETARY	0.30	Officer Director	$0	$0	$0
ED BOWMAN	DIRECTOR	0.30	Director	$0	$0	$0
KEITH BOSWELL	PRESIDENT AND CEO	40.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$918,090	$1,162,594	$2,188,928	$-244,504
2024	$1,218,935	$1,458,977	$2,442,830	$-240,042
2023	$1,585,034	$1,936,027	$2,798,411	$-350,993
2022	$1,733,920	$1,262,587	$3,270,811	$471,333
2021	$786,648	$1,034,715	$2,668,915	$-248,067
2020	$853,936	$1,169,240	$2,952,675	$-315,304
2019	$771,682	$826,222	$3,159,392	$-54,540

VIRGINIA'S GATEWAY REGION T/A VIRGINIA'S GATEWAY REGION