GLOBAL FRIENDSHIP VENTURES

EIN: 263754915 501(c)(3) Education

NORFOLK, VA

Total Revenue
$768,977
Total Expenses
$770,447
Total Assets
$3,643,946
Net Assets
$3,612,382
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
VA
Principal Officer
RICHARD HARDISON
Phone
7575377682
Tax Period
2024-01-01 to 2024-12-31

GLOBAL FRIENDSHIP VENTURES, founded in 2008, is a small nonprofit in the Education sector that reported $483K in total revenue in fiscal year 2019. Expenses of $588K exceeded revenue, resulting in a 22% operating deficit.

Mission

TO FACILIATE FRIENDSHIP AND COMMUNITY AMONG INTERNATIONAL STUDENTS STUDYING IN NORFOLK, VIRGINIA AREA. TO PROVIDE ASSISTANCE TO INTERNATIONAL STUDENTS SEEKING TO UNDERSTAND HOW TO ADAPT TO COLLEGIATE LIFE IN THE UNITED STATES.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $411,446
Program Service Revenue $3,605
Investment Income $228
Other Revenue $353,698
TOTAL REVENUE $768,977

Expense Breakdown

Grants Paid $0
Salaries & Benefits $245,432
Fundraising Expenses $0
Program Expenses $767,907
Other Expenses $525,015
TOTAL EXPENSES $770,447

Year-over-Year Comparison

2024 2023 Change
Revenue $768,977 $708,176 +0.1%
Expenses $770,447 $725,793 +0.1%
Net Income $-1,470 $-17,617 -0.9%
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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Governance

Voting Members
13
Independent Members
13
Employees
6
Volunteers
50

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
$0
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KATHY STRICKLAND TREASURER N/A
Officer Director
$0 $0 $0
RICHARD HARDISON PRESIDENT N/A
Officer Director
$0 $0 $0
MIKE ANDREWS VICE PRESIDE N/A
Officer Director
$0 $0 $0
LAURA PRATT SECRETARY N/A
Officer Director
$0 $0 $0
CHARLES IVES BOARD MEMBER N/A
Director
$0 $0 $0
KEVIN TREMPER BOARD MEMBER N/A
Director
$0 $0 $0
MACKENZIE BLACK BOARD MEMBER N/A
Director
$0 $0 $0
PAUL JONES BOARD MEMBER N/A
Director
$0 $0 $0
HAP STRUTHERS BOARD MEMBER N/A
Director
$0 $0 $0
ANN PURSER BOARD MEMBER N/A
Director
$0 $0 $0
HORATIO HALL BOARD MEMBER N/A
Director
$0 $0 $0
CRAIG RUSH BOARD MEMBER N/A
Director
$0 $0 $0
KATHY HARDISON BOARD MEMBER N/A
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 $768,977 $770,447 $3,643,946 $-1,470
2023 $708,176 $725,793 $3,823,072 $-17,617
2022 $796,481 $632,135 $4,058,101 $164,346
2021 $771,611 $609,028 $4,331,118 $162,583
2020 $906,241 $599,314 $4,416,339 $306,927
2019 $482,831 $587,939 $4,469,100 $-105,108
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