VIRGINIA HEARTLAND REGIONAL ECONOMIC DEVELOPMENT ALLIANCE

EIN: 331555458 501(c)(3) Community Improvement

KEYSVILLE, VA

Total Revenue
$245,437
Total Expenses
$219,726
Total Assets
$116,088
Net Assets
$57,471
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Financial Trends

Organization Details

Formation Year
2024
Legal Domicile
VA
Principal Officer
STEPHEN BOWEN
Phone
4343926104
Tax Period
2024-07-01 to 2025-06-30

VIRGINIA HEARTLAND REGIONAL ECONOMIC DEVELOPMENT ALLIANCE, founded in 2024, is a small nonprofit in the Community Improvement sector that reported $245K in total revenue in fiscal year 2024. Expenses of $220K left a modest 10% surplus.

Mission

TO RETAIN, EXPAND, STARTUP AND ATTRACT BUSINESSES AND BUILD REGIONAL CAPACITY TO ADVANCE ECONOMIC DEVELOPMENT. BE A STRONG REGIONAL ALLIANCE OF ECONOMIC DEVELOPMENT, BUSINESS, GOVERNMENTAL AND EDUCATIONAL PARTNERS COLLABORATING TO IMPROVE REGIONAL PROSPERITY AND IMPROVE QUALITY OF LIFE.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $245,437
Investment Income $0
Other Revenue $0
TOTAL REVENUE $245,437

Expense Breakdown

Grants Paid $0
Salaries & Benefits $29,171
Fundraising Expenses $0
Program Expenses $219,726
Other Expenses $190,555
TOTAL EXPENSES $219,726

Year-over-Year Comparison

2024 2023 Change
Revenue $245,437 N/A N/A
Expenses $219,726 N/A N/A
Net Income $25,711 N/A N/A
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
13
Independent Members
13
Employees
1
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
$0
Total Directors
9
$0
Key Employees
1
$24,757
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALEXANDER MCCOY EXECUTIVE DIRECTOR 040.00
Key Emp
$24,757 $0 $24,757
STEPHEN BOWEN CHAIRMAN OF THE BOARD 002.00
Officer
$0 $0 $0
DOUG STANLEY VICE CHAIRMAN OF THE BOARD 002.00
Officer
$0 $0 $0
TRACY GEE SECRETARY 002.00
Officer
$0 $0 $0
DEXTER GILLIAM TREASURER 002.00
Officer
$0 $0 $0
SHERI MCGUIRE BOARD MEMBER 002.00
Director
$0 $0 $0
FAUSTINE BYARD-DYE BOARD MEMBER 002.00
Director
$0 $0 $0
RAJ PATEL BOARD MEMBER 002.00
Director
$0 $0 $0
LEANNE EMERT BOARD MEMBER 002.00
Director
$0 $0 $0
TAYLOR QUICKIE BOARD MEMBER 002.00
Director
$0 $0 $0
DEREK STAMEY BOARD MEMBER 002.00
Director
$0 $0 $0
KARL CARTER BOARD MEMBER 002.00
Director
$0 $0 $0
SHANNON FEINMAN EDUCATION 002.00
Director
$0 $0 $0
DAN WITT BOARD MEMBER 002.00
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 $245,437 $219,726 $116,088 $25,711
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