VIRGINIA HIGHLANDS SMALL BUSINESS I

EIN: 541965102 501(c)(3) Community Improvement

ABINGDON, VA

Total Revenue
$439,612
Total Expenses
$531,431
Total Assets
$2,836,487
Net Assets
$2,812,536
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
VA
Principal Officer
BENJAMIN M HARRELL
Phone
2764922060
Tax Period
2024-07-01 to 2025-06-30

VIRGINIA HIGHLANDS SMALL BUSINESS I, founded in 1999, is a small nonprofit in the Community Improvement sector that reported $266K in total revenue in fiscal year 2018. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $408K exceeded revenue, resulting in a 53% operating deficit.

Mission

TO ENHANCE THE REGION'S ECONOMIC DEVELOPMENT EFFORTS, TO SPUR GROWTH OF SMALL BUSINESS AND INDUSTRY AND TO IMPROVE THE LIVES OF PEOPLE IN ABINGDON AND WASHINGTON COUNTY, VIRGINIA BY OFFERING AN INNOVATIVE ECONOMIC DEVELOPMENT ENGINE THAT WILL BE DEVOTED TO CREATING JOBS.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $150,000
Program Service Revenue $274,737
Investment Income $14,875
Other Revenue $0
TOTAL REVENUE $439,612

Expense Breakdown

Grants Paid $0
Salaries & Benefits $234,163
Fundraising Expenses $0
Program Expenses $266,314
Other Expenses $297,268
TOTAL EXPENSES $531,431

Year-over-Year Comparison

2024 2023 Change
Revenue $439,612 $444,419 0.0%
Expenses $531,431 $498,016 +0.1%
Net Income $-91,819 $-53,597 +0.7%
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
10
Independent Members
9
Employees
3
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
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAM ATWELL DIRECTOR N/A
Director
$0 $0 $0
JOHN BRICKEY PRESIDENT N/A
Officer Director
$0 $0 $0
MARK GRAHAM SECRETARY N/A
Officer Director
$0 $0 $0
BENJAMIN M HARRELL TREASURER N/A
Officer Director
$0 $0 $0
BOB HOWARD DIRECTOR N/A
Director
$0 $0 $0
CATHERINE MANTOOTH DIRECTOR N/A
Director
$0 $0 $0
KENT PETERSON DIRECTOR N/A
Director
$0 $0 $0
JACK PHELPS VICE-PRESIDE N/A
Officer Director
$0 $0 $0
MICHAEL SPIEGLER DIRECTOR N/A
Director
$0 $0 $0
SCOTT WILSON 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 $439,612 $531,431 $2,836,487 $-91,819
2024 $444,419 $498,016 $2,976,738 $-53,597
2023 $430,604 $491,533 $3,046,395 $-60,929
2022 $381,610 $432,760 $3,095,800 $-51,150
2021 $387,879 $400,864 $3,104,783 $-12,985
2020 $300,619 $416,109 $3,181,678 $-115,490
2019 $266,340 $408,200 $3,270,726 $-141,860
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