Virginia Community Foundation

EIN: 311739538 501(c)(3) Philanthropy & Grantmaking

Virginia, MN

Total Revenue
$2,575,803
Total Expenses
$2,561,649
Total Assets
$5,239,484
Net Assets
$5,215,964
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
MN
Principal Officer
Greg Gilness
Phone
2187498239
Tax Period
2023-01-01 to 2023-12-31

Virginia Community Foundation, founded in 2000, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $2.6M in total revenue in fiscal year 2023. Revenue surged 463% from the prior year, signaling strong growth momentum. Net assets of $5.2M represent 24 months of operating reserves.

Mission

Charitable giving through various initiatives that strengthen and revitalize our community.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,505,890
Program Service Revenue $0
Investment Income $111,450
Other Revenue $-41,537
TOTAL REVENUE $2,575,803

Expense Breakdown

Grants Paid $2,380,580
Salaries & Benefits $75,464
Fundraising Expenses $50,468
Program Expenses $2,434,157
Other Expenses $105,605
TOTAL EXPENSES $2,561,649

Year-over-Year Comparison

2023 2022 Change
Revenue $2,575,803 $457,686 +4.6%
Expenses $2,561,649 $291,617 +7.8%
Net Income $14,154 $166,069 -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

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
14
Independent Members
14
Employees
2
Volunteers
20

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
$40,500
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Greg Gilness Board Chair 2.50
Officer Director
$0 $0 $0
Mark Kovacich Vice Chair 2.50
Officer Director
$0 $0 $0
Marieta Johnson Secretary 2.50
Officer Director
$0 $0 $0
Polly Podpeskar Treasurer 2.50
Officer Director
$0 $0 $0
Dominick Olivanti Board Member 2.50
Director
$0 $0 $0
Brenda Skorich Board Member 2.50
Director
$0 $0 $0
Brad Scott Board Member 2.50
Director
$0 $0 $0
Tucker Nelson Board Member 2.50
Director
$0 $0 $0
Leah Ryan Board Member 2.50
Director
$0 $0 $0
Tony Harkonen Board Member 2.50
Director
$0 $0 $0
Carolyn Dinneen Board Member 2.50
Director
$0 $0 $0
Tim Riordan Board Member 2.50
Director
$0 $0 $0
Eleanor Anshus Board Member 2.50
Director
$0 $0 $0
Bill Culbert Board Member 2.50
Director
$0 $0 $0
Holly Lundgren Former Executive Director 40.00
Officer
$40,500 $0 $40,500
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
2023 $2,575,803 $2,561,649 $5,239,484 $14,154
2022 $457,686 $291,617 $4,689,105 $166,069
2021 $486,282 $271,747 $5,405,748 $214,535
2020 $233,626 $414,428 $4,787,598 $-180,802
2019 $296,549 $425,539 $4,585,590 $-128,990
2018 $433,006 $423,153 $4,063,197 $9,853
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