HALIFAX REGIONAL DEVELOPMENT FOUNDATION INC

EIN: 541801459 501(c)(3) Religion

VIRGINIA BEACH, VA

Total Revenue
$352,267
Total Expenses
$80,007
Total Assets
$2,125,521
Net Assets
$1,881,046
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
VA
Principal Officer
BRIAN K ZWOYER
Phone
4345173183
Tax Period
2023-01-01 to 2023-12-31

HALIFAX REGIONAL DEVELOPMENT FOUNDATION INC, founded in 1996, is a small nonprofit in the Religion sector that reported $352K in total revenue in fiscal year 2023. Revenue surged 365% from the prior year, signaling strong growth momentum. The organization ran a surplus of $272K, a strong 77% operating margin.

Mission

HALIFAX REGIONAL DEVELOPMENT FOUNDATION, INC. IS ORGANIZED TO PROMOTE THE GENERAL HEALTH/WELFARE OF THE COMMUNITY, DEVELOP FUNDRAISING EFFORTS AND IMPROVE COMMUNITY SUPPORT FOR HALIFAX REGIONAL HOSPITAL. FOR MORE INFORMATION, SEE SCHEDULE O.

Program Service Accomplishments

Program 1
Expenses: $80,007 Revenue: $0

HALIFAX REGIONAL DEVELOPMENT FOUNDATION, INC. (HRDF) IS ORGANIZED TO PROMOTE THE GENERAL HEALTH AND WELFARE OF THE COMMUNITY AND IS RESPONSIBLE FOR THE DEVELOPMENT OF FUNDRAISING EFFORTS AND...

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HALIFAX REGIONAL DEVELOPMENT FOUNDATION, INC. (HRDF) IS ORGANIZED TO PROMOTE THE GENERAL HEALTH AND WELFARE OF THE COMMUNITY AND IS RESPONSIBLE FOR THE DEVELOPMENT OF FUNDRAISING EFFORTS AND IMPROVEMENT OF COMMUNITY SUPPORT FOR SENTARA HALIFAX REGIONAL HOSPITAL, INC.; FOR ADMINISTERING GIFTS, GRANTS AND CONTRIBUTIONS FOR THE HOSPITAL AND FOR PROVIDING OTHER SERVICES THAT ARE EXCLUSIVELY CHARITABLE, EDUCATIONAL OR SCIENTIFIC IN NATURE. THE FOUNDATION IS ALSO RESPONSIBLE FOR MANAGING THE INVESTMENT OF SENTARA HALIFAX REGIONAL HOSPITAL, INC'S ENDOWMENT FUNDS AND FOR MANAGEMENT OF THE AFFILIATED GROUPS' EDUCATIONAL ASSISTANCE PROGRAM.SEE ALSO SCHEDULE O

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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 (2023)

Revenue Breakdown

Contributions & Grants $309,709
Program Service Revenue $0
Investment Income $42,558
Other Revenue $0
TOTAL REVENUE $352,267

Expense Breakdown

Grants Paid $8,963
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $80,007
Other Expenses $71,044
TOTAL EXPENSES $80,007

Year-over-Year Comparison

2023 2022 Change
Revenue $352,267 $75,684 +3.7%
Expenses $80,007 $74,087 +0.1%
Net Income $272,260 $1,597 +169.5%
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
4
Independent Members
1
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
4
$3,451,789
Total Directors
4
$3,451,789
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRIAN K ZWOYER DIRECTOR/PRESIDENT/SECRETARY 1.00
Officer Director
$0 $90,411 $405,654
CAROL C THOMAS DIRECTOR/CHAIR 0.10
Officer Director
$0 $0 $40,000
MEGAN R PERRY DIRECTOR/TREASURER 0.10
Officer Director
$0 $186,150 $1,793,140
PAUL A GADEN DIRECTOR/VICE CHAIR 0.10
Officer Director
$0 $155,133 $1,212,995
MICHAEL V GENTRY FORMER OFFICER 0.00
$0 $78,055 $2,220,921
ROBERT A BROERMANN FORMER OFFICER 0.00
$0 $135,907 $2,809,597
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 $352,267 $80,007 $2,125,521 $272,260
2022 $75,684 $74,087 $2,080,327 $1,597
2021 $85,209 $77,404 $2,139,541 $7,805
2020 $86,420 $82,658 $2,125,131 $3,762
2019 $194,653 $204,055 $2,001,407 $-9,402
2018 $216,294 $97,171 $1,743,859 $119,123
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