Smithfield Preston Foundation

EIN: 541785583 501(c)(3) Arts, Culture & Humanities

Blacksburg, VA

Total Revenue
$302,252
Total Expenses
$307,101
Total Assets
$3,302,889
Net Assets
$3,299,349
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
VA
Principal Officer
Michael Hudson
Phone
5402313947
Tax Period
2023-07-01 to 2024-06-30

Smithfield-Preston Foundation, founded in 2000, is a small nonprofit in the Arts, Culture & Humanities sector that reported $182K in total revenue in fiscal year 2017. Revenue fell 35% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $28K, a strong 15% operating margin.

Mission

Preservation and interpretation of historic property

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $131,707
Program Service Revenue $22,413
Investment Income $101,388
Other Revenue $46,744
TOTAL REVENUE $302,252

Expense Breakdown

Grants Paid $0
Salaries & Benefits $128,459
Fundraising Expenses $22,487
Program Expenses $203,972
Other Expenses $178,642
TOTAL EXPENSES $307,101

Year-over-Year Comparison

2023 2022 Change
Revenue $302,252 $133,861 +1.3%
Expenses $307,101 $336,690 -0.1%
Net Income $-4,849 $-202,829 -1.0%
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
21
Independent Members
21
Employees
2
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
0
$0
Total Directors
21
$81,912
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Michael Hudson Executive Dir. 45.00
Director
$81,912 $0 $81,912
Marjorie Mcrae Trustee 20.00
Director
$0 $0 $0
Elizabeth Robertson Trustee 10.00
Director
$0 $0 $0
Paul Quigley Trustee 10.00
Director
$0 $0 $0
Laura Wedin Trustee 50.00
Director
$0 $0 $0
Larry Linkous Trustee 10.00
Director
$0 $0 $0
Jeffery Mitchell Trustee 5.00
Director
$0 $0 $0
Margaret Preston Fanney Trustee 100.00
Director
$0 $0 $0
Ann Stuart Cassell Trustee 5.00
Director
$0 $0 $0
Kerry Moseley-Hobbs Trustee 10.00
Director
$0 $0 $0
Miram Preston Davie Trustee 10.00
Director
$0 $0 $0
Lisa Davis Trustee 1.00
Director
$0 $0 $0
Jennifer Hart Trustee 10.00
Director
$0 $0 $0
Frank Akers Trustee 1.00
Director
$0 $0 $0
Breyon Fraction Trustee 1.00
Director
$0 $0 $0
Dan Thorp Trustee 10.00
Director
$0 $0 $0
Julie McMichael Trustee 10.00
Director
$0 $0 $0
William Dougherty Trustee 10.00
Director
$0 $0 $0
Robert Fanney Trustee 1.00
Director
$0 $0 $0
Phyllis Cave Trustee 10.00
Director
$0 $0 $0
Nathalie Gilfoyle Trustee 10.00
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 $302,252 $307,101 $3,302,889 $-4,849
2023 $133,861 $336,690 $3,312,598 $-202,829
2022 $389,597 $347,380 $3,436,600 $42,217
2022 $389,597 $347,380 $3,448,841 $42,217
2021 $303,610 $290,324 $3,572,331 $13,286
2021 $291,369 $290,324 $3,560,090 $1,045
2020 $191,715 $344,456 $3,422,733 $-152,741
2019 $209,856 $228,757 $3,848,789 $-18,901
2018 $182,283 $154,752 $3,702,006 $27,531
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