VIRGINIA COUNCIL ON ECONOMIC EDUCATION

EIN: 237087052 501(c)(3) Social Science

RICHMOND, VA

Total Revenue
$1,020,028
Total Expenses
$1,047,484
Total Assets
$1,699,282
Net Assets
$1,698,543
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Financial Trends

Organization Details

Formation Year
1970
Legal Domicile
VA
Phone
8048281627
Tax Period
2022-07-01 to 2023-06-30

VIRGINIA COUNCIL ON ECONOMIC EDUCATION, founded in 1970, is a community nonprofit in the Social Science sector that reported $1.1M in total revenue in fiscal year 2018. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $1.0M left a modest 5% surplus.

Mission

VCEE is the critical resource for Virginias K-12 teachers and school divisions who are seeking professional development, curriculum and resources to help teach economics and personal finance effectively.

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Trantor Score

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $942,568
Program Service Revenue $31,625
Investment Income $45,835
Other Revenue $0
TOTAL REVENUE $1,020,028

Expense Breakdown

Grants Paid $0
Salaries & Benefits $506,442
Fundraising Expenses $48,086
Program Expenses $811,970
Other Expenses $541,042
TOTAL EXPENSES $1,047,484

Year-over-Year Comparison

2022 2021 Change
Revenue $1,020,028 $1,160,946 -0.1%
Expenses $1,047,484 $898,016 +0.2%
Net Income $-27,456 $262,930 -1.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Governance

Voting Members
40
Independent Members
40
Employees
3
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
4
$132,000
Total Directors
42
$0
Key Employees
1
$132,000
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Daniel R Mortensen President and CEO 040.00
Officer Key Emp
$132,000 $0 $132,000
Neil Amin Board Member 001.00
Director
$0 $0 $0
Kartik Athreya Board Member 002.00
Director
$0 $0 $0
James W Dyke Board Member 001.00
Director
$0 $0 $0
Rasheeda Creighton Board Member 001.00
Director
$0 $0 $0
Erica Billingslea Board Member 001.00
Director
$0 $0 $0
Fred Thompson Board Member 001.00
Director
$0 $0 $0
Naomi Boyd Board Member 001.00
Director
$0 $0 $0
Bradley H Gunter Board Member 001.00
Director
$0 $0 $0
Jason Dunick Member Ex-officio 001.00
Director
$0 $0 $0
Carrie Hunt Board Member 001.00
Director
$0 $0 $0
L James Borges Board Member 002.00
Director
$0 $0 $0
D Oscarlyn Elder Board Member 002.00
Director
$0 $0 $0
Suzanne M Gallagher Board Member 001.00
Director
$0 $0 $0
Chung Ma Board Member 002.00
Director
$0 $0 $0
Derwood S Chase Board Member 001.00
Director
$0 $0 $0
Natasha Knight Board Member 001.00
Director
$0 $0 $0
Bryan S Cram Board Member 001.00
Director
$0 $0 $0
Christopher Lucy Vice Chairman 003.00
Director
$0 $0 $0
Jeffrey M Lacker Board Member 001.00
Director
$0 $0 $0
A Fletcher Mangum Chairman 005.00
Officer Director
$0 $0 $0
Jeffrey R Leopold Board Member 002.00
Director
$0 $0 $0
Lynne Mallory-Winter Board Member 002.00
Director
$0 $0 $0
EG Miller Secretary/Treasurer 005.00
Officer Director
$0 $0 $0
Stephanie R Peters Board Member 002.00
Director
$0 $0 $0
Katharine M Bond Board Member 001.00
Director
$0 $0 $0
Keith M Martin Board Member 001.00
Director
$0 $0 $0
Rob Shinn Board Member 002.00
Director
$0 $0 $0
William A Casey Board Member 001.00
Director
$0 $0 $0
Tapan V Gandhi Board Member 001.00
Director
$0 $0 $0
Bruce T Whitehurst Board Member 002.00
Director
$0 $0 $0
Jeffrey Lacker Board Member 001.00
Director
$0 $0 $0
A Eric Kauders Jr Board Member 002.00
Director
$0 $0 $0
Christopher M Shockley Immediate Past Chair 005.00
Officer Director
$0 $0 $0
Thomas C Palmer Board Member 001.00
Director
$0 $0 $0
Mary G Morris Board Member 001.00
Director
$0 $0 $0
Gary R Thomson Board Member 001.00
Director
$0 $0 $0
Thomas E Phillips Jr Board Member 001.00
Director
$0 $0 $0
David W Mullins Board Member 001.00
Director
$0 $0 $0
Tammy Neale Board Member 001.00
Director
$0 $0 $0
Tim Rowe Board Member 001.00
Director
$0 $0 $0
Marge White Board Member 001.00
Director
$0 $0 $0
Michel Zajur Board Member 001.00
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 No data No data No data No data
2024 No data No data No data No data
2023 $1,020,028 $1,047,484 $1,699,282 $-27,456
2022 $1,160,946 $898,016 $1,753,250 $262,930
2021 $909,613 $841,151 $1,591,140 $68,462
2020 $1,018,911 $1,145,034 $1,227,194 $-126,123
2019 $1,103,381 $1,043,151 $1,385,083 $60,230
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