PATRIOTIC FESTIVAL II INC

EIN: 461601615 501(c)(3) Public & Societal Benefit

VIRGINIA BEACH, VA

Total Revenue
$2,018,070
Total Expenses
$2,090,538
Total Assets
$336,518
Net Assets
$329,001
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
VA
Principal Officer
IRA AGRICOLA
Phone
7577884984
Tax Period
2024-10-01 to 2025-09-30

PATRIOTIC FESTIVAL II INC, founded in 2012, is a community nonprofit in the Public & Societal Benefit sector that reported $2.0M in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring.

Mission

CELEBRATE PATRIOTISM AND SHOW APPRECIATION AND SUPPORT TO ACTIVE DUTY AND RETIRED MILITARY PERSONNEL AND THEIR FAMILIES DURING A THREE-DAY FESTIVAL.

Program Service Accomplishments

Program 1
Expenses: $1,748,881 Revenue: $2,018,070

To show public support for our military services, Patriotic Festival, along with the City of Norfolk, VA and sponsoring businesses, provide concerts and entertainment at an annual three-day festival...

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To show public support for our military services, Patriotic Festival, along with the City of Norfolk, VA and sponsoring businesses, provide concerts and entertainment at an annual three-day festival at the Norfolk Waterside district.

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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 (2024)

Revenue Breakdown

Contributions & Grants $231,700
Program Service Revenue $1,786,351
Investment Income $19
Other Revenue $0
TOTAL REVENUE $2,018,070

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $1,748,881
Other Expenses $2,090,538
TOTAL EXPENSES $2,090,538

Year-over-Year Comparison

2024 2023 Change
Revenue $2,018,070 $2,760,662 -0.3%
Expenses $2,090,538 $2,990,085 -0.3%
Net Income $-72,468 $-229,423 -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

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Governance

Voting Members
4
Independent Members
4
Employees
N/A
Volunteers
500

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
2
$52,400
Total Directors
4
$52,400
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
IRA AGRICOLA PRESIDENT 15.00
Officer Director
$52,400 $0 $52,400
GLEN M ROBERTSON DIRECTOR 0.50
Director
$0 $0 $0
ANDY STEPHENSON DIRECTOR 0.50
Director
$0 $0 $0
EMILY REYNOLDS TREASURER 0.50
Officer 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 $2,018,070 $2,090,538 $336,518 $-72,468
2024 $2,760,662 $2,990,085 $423,930 $-229,423
2023 $2,061,480 $2,191,258 $657,971 $-129,778
2022 $4,173,155 $3,512,128 $807,443 $661,027
2021 $224,171 $494,275 $513,554 $-270,104
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