SUFFOLK FOUNDATION

EIN: 205998525 501(c)(3) Philanthropy & Grantmaking

SUFFOLK, VA

Total Revenue
$5,986,360
Total Expenses
$2,056,457
Total Assets
$22,180,844
Net Assets
$21,186,232
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Financial Trends

Organization Details

Formation Year
2006
Legal Domicile
VA
Principal Officer
O KERMIT HOBBS JR
Phone
7579239090
Tax Period
2025-01-01 to 2025-12-31

SUFFOLK FOUNDATION, founded in 2006, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $6.0M in total revenue in fiscal year 2025. Revenue decreased 15% compared to the prior year. The organization ran a surplus of $3.9M, a strong 66% operating margin.

Mission

THE MISSION OF THE SUFFOLK FOUNDATION IS TO BENEFIT THE PEOPLE OF SUFFOLK AND WESTERN TIDEWATER BY FACILITATING AND DEVELOPING PHILANTHROPY, AND BY AWARDING GRANTS AND SCHOLARSHIPS TO MEET LOCAL COMMUNITY NEEDS.

Program Service Accomplishments

Program 1
Expenses: $1,966,583

IN 2025 THE FOUNDATION AWARDED OVER 1.5 MILLION IN GRANTS AND SCHOLARSHIPS, BENEFITING DOZENS OF LOCAL STUDENTS AND NONPROFIT ORGANIZATIONS IN SUFFOLK AND WESTERN TIDEWATER. THIS INCLUDES GRANTS FROM...

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IN 2025 THE FOUNDATION AWARDED OVER 1.5 MILLION IN GRANTS AND SCHOLARSHIPS, BENEFITING DOZENS OF LOCAL STUDENTS AND NONPROFIT ORGANIZATIONS IN SUFFOLK AND WESTERN TIDEWATER. THIS INCLUDES GRANTS FROM OUR WOMEN'S IMPACT FUND, GRANTS FROM OUR DONOR-ADVISED FUNDS, 154,958 TO 38 NONPROFITS THROUGH OUR COMMUNITY IMPACT GRANTS, AND OVER 120,750 IN COLLEGE SCHOLARSHIPS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $4,741,673
Program Service Revenue $0
Investment Income $1,069,644
Other Revenue $175,043
TOTAL REVENUE $5,986,360

Expense Breakdown

Grants Paid $1,502,146
Salaries & Benefits $178,064
Fundraising Expenses $38,299
Program Expenses $1,966,583
Other Expenses $376,247
TOTAL EXPENSES $2,056,457

Year-over-Year Comparison

2025 2024 Change
Revenue $5,986,360 $7,055,591 -0.2%
Expenses $2,056,457 $1,580,367 +0.3%
Net Income $3,929,903 $5,475,224 -0.3%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
21
Independent Members
21
Employees
3
Volunteers
65

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
5
$99,375
Total Directors
22
$99,375
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HARRY LEE CROSS III DIRECTOR 1.00
Director
$0 $0 $0
S CHRIS JONES DIRECTOR 1.00
Director
$0 $0 $0
VERNON M TOWLER VICE PRESIDE 1.00
Officer Director
$0 $0 $0
LEROY BENNETT SECRETARY 1.00
Officer Director
$0 $0 $0
JAMES E BUTLER III DIRECTOR 1.00
Director
$0 $0 $0
TIMOTHY K PALMER TREASURER 1.00
Officer Director
$0 $0 $0
CARL L FARRIS JR DIRECTOR 1.00
Director
$0 $0 $0
LES HALL DIRECTOR 1.00
Director
$0 $0 $0
O KERMIT HOBBS JR PRESIDENT 10.00
Officer Director
$0 $0 $0
DAVID MILES DIRECTOR 1.00
Director
$0 $0 $0
JACQUELINE OVERTON DIRECTOR 1.00
Director
$0 $0 $0
DR SHARON A RAGHUBAR DIRECTOR 1.00
Director
$0 $0 $0
GEORGE BIRDSONG DIRECTOR 1.00
Director
$0 $0 $0
SHERI ANDERSON DIRECTOR 1.00
Director
$0 $0 $0
JOSEPH N WEBB JR DIRECTOR 1.00
Director
$0 $0 $0
MARGARET N WILEY DIRECTOR 1.00
Director
$0 $0 $0
BJ WILLIE DIRECTOR 1.00
Director
$0 $0 $0
DAVID HOST DIRECTOR 1.00
Director
$0 $0 $0
LORELEI C MORROW EXECUTIVE DI 40.00
Officer Director
$99,375 $0 $99,375
MARY HENSLEY DIRECTOR 1.00
Director
$0 $0 $0
WHITNEY G SAUNDERS DIRECTOR 1.00
Director
$0 $0 $0
BETSY TOTTEN DIRECTOR 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
2025 $5,986,360 $2,056,457 $22,180,844 $3,929,903
2024 $7,055,591 $1,580,367 $17,767,454 $5,475,224
2023 $1,201,852 $1,126,082 $12,251,749 $75,770
2022 $1,330,106 $950,723 $11,006,379 $379,383
2021 $1,568,814 $903,332 $12,669,857 $665,482
2020 $1,121,897 $926,393 $11,369,863 $195,504
2019 $1,052,954 $749,687 $10,430,212 $303,267
2018 $3,275,621 $533,931 $8,681,724 $2,741,690
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