SOUTHERN VIRGINIA HIGHER EDUCATION FOUNDATION INC

EIN: 541866278 501(c)(3) Education

SOUTH BOSTON, VA

Total Revenue
$1,840,388
Total Expenses
$1,614,806
Total Assets
$18,646,831
Net Assets
$18,342,566
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1997
Legal Domicile
VA
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 $1.4M in total revenue in fiscal year 2017. Revenue fell 67% from the prior year — a significant decline worth monitoring. Expenses of $1.3M left a modest 7% surplus.

Mission

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

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

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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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Governance

Voting Members
16
Independent Members
16
Employees
2
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
$0
Total Directors
17
$0
Key Employees
0
$0
Highest Compensated
0
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
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