NEW RIVER VALLEY HEALTH FOUNDATION

EIN: 521349560 501(c)(3)

RADFORD, VA

Total Revenue
$390,945
Total Expenses
$2,151,904
Total Assets
$1,463,300
Net Assets
$1,463,300
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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
VA
Principal Officer
FRED L NEWHOUSE JR
Phone
5407312017
Tax Period
2023-01-01 to 2023-12-31

NEW RIVER VALLEY HEALTH FOUNDATION, founded in 1984, is a small nonprofit that reported $131K in total revenue in fiscal year 2019. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $704K exceeded revenue, resulting in a 436% operating deficit.

Mission

NEW RIVER VALLEY HEALTH FOUNDATION (THE FOUNDATION) IS A TAX-EXEMPT, NONSTOCK, NONPROFIT CORPORATION ORGANIZED TO PROMOTE AND FOSTER THE DEVELOPMENT OF COMMUNITY HEALTH ACTIVITIES FOR CHARITABLE AND EDUCATIONAL PURPOSES. THE FOUNDATION OFFERS FINANCIAL ASSISTANCE IN THE FORM OF CONTRIBUTIONS, LOANS, AND LEASING ARRANGEMENTS TO SELECTED ORGANIZATIONS WHO PRIMARILY ARE PROVIDERS OF HEALTH CARE SERVICES IN THE NEW RIVER VALLEY.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $371,028
Other Revenue $19,917
TOTAL REVENUE $390,945

Expense Breakdown

Grants Paid $2,118,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,118,000
Other Expenses $33,904
TOTAL EXPENSES $2,151,904

Year-over-Year Comparison

2023 2022 Change
Revenue $390,945 $241,520 +0.6%
Expenses $2,151,904 $834,829 +1.6%
Net Income $-1,760,959 $-593,309 +2.0%
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
15
Independent Members
15
Employees
N/A
Volunteers
15

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
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRED L NEWHOUSE JR CHAIRMAN 2.00
Officer Director
$0 $0 $0
SHANNON ZEMAN VICE CHAIRMAN 2.00
Officer Director
$0 $0 $0
SALLY MCCARTHY SECRETARY 2.00
Officer Director
$0 $0 $0
MICHAEL BARBER TREASURER 2.00
Officer Director
$0 $0 $0
JERRY SMITH DIRECTOR 1.00
Director
$0 $0 $0
JEFF L IRBY DIRECTOR 1.00
Director
$0 $0 $0
DAVID HAGADORN DIRECTOR 1.00
Director
$0 $0 $0
FREDERICK KELLERMAN DIRECTOR 1.00
Director
$0 $0 $0
VIRGINIA OUSLEY DIRECTOR 1.00
Director
$0 $0 $0
JOSEPH SHEFFEY DIRECTOR 1.00
Director
$0 $0 $0
KEVIN STONER DIRECTOR 1.00
Director
$0 $0 $0
BRUCE TURNER DIRECTOR 1.00
Director
$0 $0 $0
MELISSA GENTRY DIRECTOR 5.00
Director
$0 $0 $0
PAT HUBER DIRECTOR 1.00
Director
$0 $0 $0
LEE MATTHIS DIRECTOR 1.00
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
2024 No data No data No data No data
2023 $390,945 $2,151,904 $1,463,300 $-1,760,959
2022 $241,520 $834,829 $3,227,805 $-593,309
2021 $272,084 $237,495 $4,577,534 $34,589
2020 $86,171 $160,175 $4,291,404 $-74,004
2019 $131,231 $703,646 $4,133,419 $-572,415
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