VIRGINIA INDUSTRY FOUNDATION INC

EIN: 205582985 501(c)(3) Community Improvement

RICHMOND, VA

Total Revenue
$40,479
Total Expenses
$15,751
Total Assets
$53,037
Net Assets
$14,466
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
VA
Principal Officer
BRETT VASSEY
Phone
8046437489
Tax Period
2024-01-01 to 2024-12-31

VIRGINIA INDUSTRY FOUNDATION INC, founded in 2007, is a micro nonprofit in the Community Improvement sector that reported $40K in total revenue in fiscal year 2024. Revenue surged 375% from the prior year, signaling strong growth momentum. The organization ran a surplus of $25K, a strong 61% operating margin.

Mission

TO PROVIDE SCIENTIFIC EDUCATIONAL INFORMATION, COMPOSE, PUBLISH, AND DISSEMINATE INFORMATION AND STANDARDS DESIGNED TO ADVANCE INDUSTRY AND SPECIFIC EDUCATION, RECOGNIZE INDUSTRIAL, SCIENTIFIC, EDUCATIONAL, WORKPLACE AND ENVIRONMENTAL ACHIEVEMENTS, SUPPORT TECHNOLOGY, INTENSIVE INDUSTRY RESEARCH AND DEVELOPMENT AND SERVE AS A CENTRAL SCIENTIFIC, EDUCATIONAL, AND CHARITABLE RESOURCE FOR INDUSTRY AND THE PUBLIC.

Program Service Accomplishments

Program 1
Expenses: $15,751

RURAL VIRGINIA ADVANCED MANUFACTURING PROJECT TO TRAIN AND RETRAIN MANUFACTURING TECHNICIANS AND WORLD CLASS MANUFACTURING ASSESSORS IN THE TOBACCO DEPENDENT LOCALITIES OF SOUTHSIDE AND SOUTHWEST...

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RURAL VIRGINIA ADVANCED MANUFACTURING PROJECT TO TRAIN AND RETRAIN MANUFACTURING TECHNICIANS AND WORLD CLASS MANUFACTURING ASSESSORS IN THE TOBACCO DEPENDENT LOCALITIES OF SOUTHSIDE AND SOUTHWEST VIRGINIA.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $40,349
Program Service Revenue $0
Investment Income $130
Other Revenue $0
TOTAL REVENUE $40,479

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $15,751
Other Expenses $15,751
TOTAL EXPENSES $15,751

Year-over-Year Comparison

2024 2023 Change
Revenue $40,479 $8,516 +3.8%
Expenses $15,751 $18,768 -0.2%
Net Income $24,728 $-10,252 -3.4%
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

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Governance

Voting Members
4
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
3
$303,916
Total Directors
4
$303,916
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRETT VASSEY PRESIDENT 2.00
Officer Director
$0 $23,000 $303,916
CARYN FOSTER DURHAM BOARD MEMBER 1.00
Officer Director
$0 $0 $0
TANYA COOK BOARD MEMBER 1.00
Officer Director
$0 $0 $0
RUSSELL MAIT BOARD MEMBER 1.00
Director
$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
2024 $40,479 $15,751 $53,037 $24,728
2023 $8,516 $18,768 $9,036 $-10,252
2022 $6,281 $40,548 $27,264 $-34,267
2021 $110,009 $60,104 $60,340 $49,905
2020 $5,558 $5,708 $47,763 $-150
2019 $52,460 $49,046 $52,694 $3,414
2018 $53,029 $72,735 $48,280 $-19,706
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