PATRICK HENRY MEMORIAL FOUNDATION INC

EIN: 540662892 501(c)(3) Arts, Culture & Humanities

BROOKNEAL, VA

Total Revenue
$1,964,136
Total Expenses
$1,634,486
Total Assets
$18,643,564
Net Assets
$18,620,427
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1944
Legal Domicile
VA
Principal Officer
DABNEY T P GILLIAM JR
Phone
4343762044
Tax Period
2024-07-01 to 2025-06-30

PATRICK HENRY MEMORIAL FOUNDATION INC, founded in 1944, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.0M in total revenue in fiscal year 2024. Revenue fell 32% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $330K, a strong 17% operating margin.

Mission

THE PATRICK HENRY MEMORIAL FOUNDATION POSSESSES THE LARGEST COLLECTION OF PATRICK HENRY ARTIFACTS AND MEMORABILIA IN THE NATION. THE PURPOSE OF THIS COLLECTION IS TO AID IN EDUCATING THE PUBLIC ABOUT THE LIFE, TIMES, PHILOSOPHY, AND CONTRIBUTIONS TO POSTERITY OF PATRICK HENRY.

Program Service Accomplishments

Program 1
Expenses: $1,314,066 Revenue: $20,521

THE FOUNDATION MAINTAINS AND INTERPRETS RED HILL, PATRICK HENRY'S LAST HOME AND BURIAL PLACE, AS A HISTORICAL SITE AND MUSEUM.

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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 $1,302,380
Program Service Revenue $20,521
Investment Income $250,640
Other Revenue $390,595
TOTAL REVENUE $1,964,136

Expense Breakdown

Grants Paid $0
Salaries & Benefits $739,836
Fundraising Expenses $106,694
Program Expenses $1,314,066
Other Expenses $894,650
TOTAL EXPENSES $1,634,486

Year-over-Year Comparison

2024 2023 Change
Revenue $1,964,136 $2,907,927 -0.3%
Expenses $1,634,486 $3,303,541 -0.5%
Net Income $329,650 $-395,614 -1.8%
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
12
Independent Members
12
Employees
27
Volunteers
12

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
0
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LISA BEAL DIRECTOR N/A
Director
$0 $0 $0
WARD BURTON DIRECTOR N/A
Director
$0 $0 $0
GUY DIXON DIRECTOR N/A
Director
$0 $0 $0
NATHALIE GILFOYLE DIRECTOR N/A
Director
$0 $0 $0
CHARLES SKIP D FOX IV DIRECTOR - S N/A
Director
$0 $0 $0
DABNEY T P GILLIAM JR DIRECTOR - C N/A
Director
$0 $0 $0
SHERMAN LAPRADE DIRECTOR N/A
Director
$0 $0 $0
MIKE MADDEN DIRECTOR VI N/A
Director
$0 $0 $0
DAGEN MCDOWELL DIRECTOR N/A
Director
$0 $0 $0
BRIG GENERAL JAMES MOORE DIRECTOR N/A
Director
$0 $0 $0
ELSIE ROSE DIRECTOR - T N/A
Director
$0 $0 $0
DR JACK SCHAFFER DIRECTOR N/A
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 $1,964,136 $1,634,486 $18,643,564 $329,650
2024 $2,907,927 $3,303,541 $17,397,316 $-395,614
2023 $1,009,175 $1,352,794 $15,886,177 $-343,619
2022 $1,385,392 $1,269,997 $15,338,378 $115,395
2021 $1,124,854 $1,100,739 $16,994,104 $24,115
2020 $2,508,785 $1,031,374 $14,748,383 $1,477,411
2019 $993,263 $847,241 $13,029,037 $146,022
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