Virginia Beach Billfish Foundation

EIN: 275040479 501(c)(3) Philanthropy & Grantmaking

Virginia Beach, VA

Total Revenue
$194,908
Total Expenses
$189,366
Total Assets
$89,805
Net Assets
$89,805
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
VA
Principal Officer
Paula Davis
Phone
7576528409
Tax Period
2025-01-01 to 2025-12-31

Virginia Beach Billfish Foundation, founded in 2010, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $195K in total revenue in fiscal year 2025. Revenue fell 82% from the prior year — a significant decline worth monitoring.

Mission

To engage in the promotion of educational, scientific, and charitable purposes permitted by law, facilitated through the fishing tournament.

Program Service Accomplishments

Program 1
Expenses: $115,136 Revenue: $514,489

THE VIRGINIA BEACH BILLFISH TOURNAMENT IS ONE OF VIRGINIA'S BEST SPORTING TRADITIONS WITH A FOCUS ON CHARITABLE ENDEAVORS. SINCE THE FIRST EVENT IN 2004, THE VBBT HAS RAISED OVER $1.4 MILLION FOR...

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THE VIRGINIA BEACH BILLFISH TOURNAMENT IS ONE OF VIRGINIA'S BEST SPORTING TRADITIONS WITH A FOCUS ON CHARITABLE ENDEAVORS. SINCE THE FIRST EVENT IN 2004, THE VBBT HAS RAISED OVER $1.4 MILLION FOR CHARITY, SUPPORTING THE LOCAL BOYS & GIRLS CLUBS, STOPABUSE, ACHIEVABLE DREAM, EVMS, CANCER RESEARCH, ACCESS COLLEGE FUND, CHAMPIONS FOR CHARITY, HAMPTON ROADS ACADEMY, VIRGINIA BEACH FRIENDS SCHOOL, THE PENINSULA SPCA, & THE BILLFISH FOUNDATION--AMONG OTHERS.

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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 $381,703
Program Service Revenue $117,900
Investment Income $21
Other Revenue $-304,716
TOTAL REVENUE $194,908

Expense Breakdown

Grants Paid $57,000
Salaries & Benefits $49,355
Fundraising Expenses $38,733
Program Expenses $115,136
Other Expenses $83,011
TOTAL EXPENSES $189,366

Year-over-Year Comparison

2025 2024 Change
Revenue $194,908 $1,086,011 -0.8%
Expenses $189,366 $1,076,694 -0.8%
Net Income $5,542 $9,317 -0.4%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
9
Employees
2
Volunteers
40

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
$22,916
Total Directors
10
$22,916
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Paula Davis Executive Director 40.0
Officer Director
$22,916 $0 $22,916
Dennis Deans Secretary / Treasurer 0.0
Officer Director
$0 $0 $0
Earle Hall Chairman of the Board 0.0
Officer Director
$0 $0 $0
Brad Wachowiak Trustee 0.0
Director
$0 $0 $0
Charles Barker Trustee 0.0
Director
$0 $0 $0
Chris Perry Trustee 0.0
Director
$0 $0 $0
Jud Black Trustee 0.0
Director
$0 $0 $0
Michael Atkinson Trustee 0.0
Director
$0 $0 $0
Michael Standing Trustee 0.0
Director
$0 $0 $0
Thomas Bayne Trustee 0.0
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 $194,908 $189,366 $89,805 $5,542
2024 No data No data No data No data
2023 $1,097,621 $1,140,963 $74,946 $-43,342
2022 $1,025,525 $1,060,928 $118,288 $-35,403
2021 $1,024,079 $1,061,967 $153,842 $-37,888
2020 $897,469 $960,571 $192,125 $-63,102
2019 $880,082 $897,557 $254,681 $-17,475
2018 $961,432 $795,595 $272,156 $165,837
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