SOUTHERN VIRGINIA HIGHER EDUCATION… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1997

Legal Domicile

Principal Officer

MONICA HODGES

Tax Period

2024-07-01 to 2025-06-30

SOUTHERN VIRGINIA HIGHER EDUCATION FOUNDATION INC, founded in 1997, is a community nonprofit in the Education sector that reported $1.8M in total revenue in fiscal year 2024. Revenue surged 66% from the prior year, signaling strong growth momentum. Expenses of $1.6M left a modest 12% surplus.

Mission

TO PROMOTE AND ENHANCE CONTINUING EDUCATIONAL OPPORTUNITIES FOR THE CITIZENS OF HALIFAX COUNTY, VA AND THE SURROUNDING AREAS.

Program Service Accomplishments

Program 1

Expenses: $1,098,097

MAINTENANCE, PURCHASE, ADMINISTRATION AND OTHER EXPENSES FOR THE OPERATION OF THE BUILDINGS AND GROUNDS LEASED TO THE SOUTHERN VIRGINIA HIGHER EDUCATION CENTER TO ENHANCE AND PROMOTE EDUCATIONAL...

MAINTENANCE, PURCHASE, ADMINISTRATION AND OTHER EXPENSES FOR THE OPERATION OF THE BUILDINGS AND GROUNDS LEASED TO THE SOUTHERN VIRGINIA HIGHER EDUCATION CENTER TO ENHANCE AND PROMOTE EDUCATIONAL OPPORTUNITIES. PROGRAM ACCOMPLISHMENTS INCLUDE GRANTS/DONATION OF EQUIPMENT TO THE SOUTHERN VIRGINIA HIGHER EDUCATION CENTER.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $485,500

Program Service Revenue $1,080,489

Investment Income $274,399

Other Revenue $0

TOTAL REVENUE $1,840,388

Expense Breakdown

Grants Paid $0

Salaries & Benefits $242,682

Fundraising Expenses $124,519

Program Expenses $1,098,097

Other Expenses $1,372,124

TOTAL EXPENSES $1,614,806

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,840,388	$1,108,803	+0.7%
Expenses	$1,614,806	$1,161,276	+0.4%
Net Income	$225,582	$-52,473	-5.3%

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

Governance

Voting Members

Independent Members

Employees

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THE HON WW TED BENNETT	DIRECTOR	N/A	Director	$0	$0	$0
BRIAN BURTON	SECRETARY	N/A	Officer Director	$0	$0	$0
JOHN R CANNON	DIRECTOR	N/A	Director	$0	$0	$0
NED COVINGTON	DIRECTOR	N/A	Director	$0	$0	$0
JEFF DAVIS	TREASURER	N/A	Officer Director	$0	$0	$0
STERLING EDMUNDS	DIRECTOR	N/A	Director	$0	$0	$0
JAYNE PENNINGTON ELLIOTT	DIRECTOR	N/A	Director	$0	$0	$0
MONICA HODGES	CHAIRMAN	N/A	Officer Director	$0	$0	$0
BEN J DAVENPORT JR	DIRECTOR	N/A	Director	$0	$0	$0
DAWN MILLER	DIRECTOR	N/A	Director	$0	$0	$0
LINDA OWEN	DIRECTOR	N/A	Director	$0	$0	$0
EDWARD OWENS	DIRECTOR	N/A	Director	$0	$0	$0
HUBERT PANNELL	DIRECTOR	N/A	Director	$0	$0	$0
REBECCA SAUNDERS	DIRECTOR	N/A	Director	$0	$0	$0
DARDEN SMITH	DIRECTOR	N/A	Director	$0	$0	$0
PATRICIA WALKER	VICE CHAIRMA	N/A	Officer Director	$0	$0	$0
DENNIS WITT	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	$1,840,388	$1,614,806	$18,646,831	$225,582
2024	No data	No data	No data	No data
2023	$1,052,798	$1,408,718	$18,486,837	$-355,920
2022	$501,304	$1,483,455	$18,790,348	$-982,151
2021	$1,382,351	$1,200,143	$19,833,526	$182,208
2020	$787,901	$1,319,022	$19,653,905	$-531,121
2019	$1,029,701	$1,507,533	$20,275,956	$-477,832
2018	$1,405,423	$1,305,769	$20,707,852	$99,654

SOUTHERN VIRGINIA HIGHER EDUCATION FOUNDATION INC