New River Valley Development Corporation

EIN: 541247459 501(c)(3)

Radford, VA

Total Revenue
$72
Total Expenses
$28,031
Total Assets
N/A
Net Assets
N/A
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
VA
Principal Officer
Michael Barber
Phone
5406336730
Tax Period
2020-10-01 to 2021-09-30

NEW RIVER VALLEY DEVELOPMENT CORPORATION, founded in 1982, is a small nonprofit that reported $388K in total revenue in fiscal year 2017. Expenses of $510K exceeded revenue, resulting in a 32% operating deficit.

Mission

Small Business Expansion/Economic Development

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Trantor Score

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

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Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $32
Other Revenue $40
TOTAL REVENUE $72

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $28,031
Other Expenses $28,031
TOTAL EXPENSES $28,031

Year-over-Year Comparison

2020 2019 Change
Revenue $72 $422,547 -1.0%
Expenses $28,031 $475,637 -0.9%
Net Income $-27,959 $-53,090 -0.5%
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

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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
N/A
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
3
$0
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Michael Barber President 0.00
Officer Director
$0 $0 $0
Basil Edwards Sec/Treas 0.00
Officer Director
$0 $0 $0
Michael Solomon Vice President 0.00
Officer Director
$0 $0 $0
Nichole Hair Member 0.00
Director
$0 $0 $0
Doug Phillips Member 0.00
Director
$0 $0 $0
Helen Harvey Member 0.00
Director
$0 $0 $0
John Bush Member 0.00
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
2021 $72 $28,031 No data $-27,959
2020 $422,547 $475,637 $3,640,163 $-53,090
2019 $402,186 $488,842 $3,761,931 $-86,656
2018 $387,907 $510,363 $3,905,308 $-122,456
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