CHESAPEAKE-VIRGINIA BEACH ACHIEVEM… - Form 990 Financial Data

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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

Principal Officer

ELEGEAR PRIMUS

Phone

7576204023

Tax Period

2023-01-01 to 2023-12-31

CHESAPEAKE-VIRGINIA BEACH ACHIEVEMENT FUND is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $27K in total revenue in fiscal year 2023. Revenue surged 68% from the prior year, signaling strong growth momentum. Expenses of $41K exceeded revenue, resulting in a 48% operating deficit.

Mission

THE ORGANIZATION SERVES AS THE FUNDRAISING ARM OF THE CHAPTER THAT SUPPORTS THE CHARITABLE EFFORTS TO PROVIDE SCHOLARSHIPS, MENTORING, AND COMMUNITY PROGRAMS TO SUPPORT THE DEVELOPMENT OF YOUNG MEN. CVBAF WITHOUT LIMITATION, IS IMPROVING THE DEVELOPMENT, PROMOTION AND SUPPORT OF ACTIVITIES, PROGRAMS, AND ORGANIZATIONS THAT IMPROVE THE HEALTH, WELFARE, AND EDUCATION OF THE YOUTH OF HAMPTON ROADS COMMUNITY, WITH A PRIMARY EMPHASIS IN THE DEVELOPMENT OF LEADERSHIP SKILLS, SOCIAL OUTREACH AND HELPING PROVIDING INFORMATION AND KNOWLEDGE SKILLS, TRAINING, FINANCIAL LITERACY, LOANS FOR EDUCATION, AND OTHER REQUIRED FIELDS OF ENDEAVOR. OUR CONTINUING MISSION IS TO AFFECT THE SOCIAL DEVELOPMENT, EMOTIONAL MATURITY, AND ACADEMIC ACHIEVEMENT OF PARTICIPANTS. THE CVBAF BROTHERS' PERFORM THIS BY PROVIDING POSITIVE PROFESSIONAL MENTORS TO TEACH THE YOUTH OF HAMPTON ROADS COMMUNITY IN THE FOLLOWING AREAS: PAYING FOR COLLEGE, DRESSING FOR SUCCESS, CHOOSING THE RIGHT COLLEGE, FINANCIAL LITERACY AND INV

Program Service Accomplishments

Program 1

OUR MISSION WAS AND CONTINUES TO BE TO AFFECT THE SOCIAL DEVELOPMENT, EMOTIONAL MATURITY, AND ACADEMIC ACHIEVEMENT OF PARTICIPANTS. THE CVBAF BROTHERS' SERVED THIS OVERALL SET OF OBJECTIVES BY...

OUR MISSION WAS AND CONTINUES TO BE TO AFFECT THE SOCIAL DEVELOPMENT, EMOTIONAL MATURITY, AND ACADEMIC ACHIEVEMENT OF PARTICIPANTS. THE CVBAF BROTHERS' SERVED THIS OVERALL SET OF OBJECTIVES BY PROVIDING POSITIVE PROFESSIONAL MENTORS TO TEACH THE YOUTH OF HAMPTON ROADS COMMUNITY IN THE FOLLOWING AREAS: PAYING FOR COLLEGE, DRESSING FOR SUCCESS, CHOOSING THE RIGHT COLLEGE, FINANCIAL LITERACY AND INVESTING, CREATING AN ACADEMIC AND PROFESSIONAL RESUME, HOW TO PROCURE DONATIONS AND RAISE FUNDS, LEADERSHIP FUNDAMENTALS, AFRICAN-AMERICAN HEALTH ISSUES, DRUG ABUSE AWARENESS, HOW TO INTERACT WITH LAW ENFORCEMENT, PERSONAL MANAGEMENT, AND PUBLIC SPEAKING. THE ORGANIZATION AWARDED SCHOLARSHIPS AT THEIR ANNUAL PRESENTATION EVENT TO TO THE YOUNG MEN WHO EXEMPLIFIED THE VALUES ENCOURAGED AND DEVELOPED DURING THE COURSE OF THEIR MENTORSHIP EXPERIENCES.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $56,066

Program Service Revenue $0

Investment Income $19

Other Revenue $-28,687

TOTAL REVENUE $27,398

Expense Breakdown

Grants Paid $36,233

Salaries & Benefits $0

Fundraising Expenses $765

Program Expenses $37,586

Other Expenses $4,354

TOTAL EXPENSES $40,587

Year-over-Year Comparison

	2023	2022	Change
Revenue	$27,398	$16,304	+0.7%
Expenses	$40,587	$61,867	-0.3%
Net Income	$-13,189	$-45,563	-0.7%

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

100

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELEGEAR PRIMUS	EXECUTIVE DI	1.00	Officer	$0	$0	$0
JOHN W MAYER JR	VICE DIRECTO	4.00	Officer	$0	$0	$0
GERMAINE WILLIAMS	CFO	2.00	Officer	$0	$0	$0
ANDRE THERCY	FUNDRAISING	1.00	Director	$0	$0	$0
BRIAN WARREN	SECRETARY	1.00	Officer	$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	No data	No data	No data	No data
2023	$27,398	$40,587	$43,625	$-13,189
2022	$16,304	$61,867	$64,859	$-45,563
2021	$35,220	$53,737	$109,333	$-18,517
2020	$90,642	$48,173	$128,495	$42,469
2019	$102,164	$48,289	$81,993	$53,875

CHESAPEAKE-VIRGINIA BEACH ACHIEVEMENT FUND