RVA SPORTS FOUNDATION INC

EIN: 833436812 501(c)(3) Recreation & Sports

RICHMOND, VA

Total Revenue
$1,375,767
Total Expenses
$862,037
Total Assets
$2,904,570
Net Assets
$585,243
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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
VA
Principal Officer
ERIC GREGORY
Phone
8046445425
Tax Period
2024-01-01 to 2024-12-31

RVA SPORTS FOUNDATION INC, founded in 2019, is a small nonprofit in the Recreation & Sports sector that reported $109K in total revenue in fiscal year 2020. Revenue surged 179% from the prior year, signaling strong growth momentum. Expenses of $157K exceeded revenue, resulting in a 44% operating deficit.

Mission

RVA SPORTS FOUNDATION HAS A DUAL PURPOSE TO REHABILITATE AND REFURBISH AN AGING, STADIUM IN THE HEART OF RICHMOND, VIRGINIA (RVA) WHILE ALSO SERVING THE SPECIAL NEEDS SOCCER COMMUNITY BY RUNNING THE RVACCESS PROGRAM WHICH SERVES KIDS FROM AGES 5- 19 AROUND CENTRAL VIRGINIA. OUR GOAL IS TO PROVIDE A CENTRAL HUB FOR THE RICHMOND METROPOLITAN REGION TO COME AND CELEBRATE OUR GREAT CITY THROUGH A MULTITUDE OF EVENTS AND FESTIVALS AT CITY STADIUM.RVA SPORTS IS RUN BY VOLUNTEERS WITH THE ASSISTANCE OF AN EXPERIENCED PROGRAM DIRECTOR TO RUN RVACCESS. THE REHABILITATION OF CITY STADIUM WILL BE HAPPENING YEAR ROUND AND OVER THE NEXT 40 YEARS. RVACCESS IS A PROGRAM THAT TRADITIONALLY RUNS IN THE SPRING AND FALL, UTILIZING CITY STADIUM AND OTHER VENUES AROUND THE METROPOLITAN AREA. WE AIM TO RUN MORE SESSIONS AT CITY STADIUM BECAUSE OF THE CENTRAL LOCATION AND IMPACT FOR FAMILIES IN THE CITY. CITY STADIUM IS OWNED BY THE CITY OF RICHMOND, VA.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $514,825
Program Service Revenue $0
Investment Income $16
Other Revenue $860,926
TOTAL REVENUE $1,375,767

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $853,022
Other Expenses $862,037
TOTAL EXPENSES $862,037

Year-over-Year Comparison

2024 2023 Change
Revenue $1,375,767 $750,049 +0.8%
Expenses $862,037 $1,030,202 -0.2%
Net Income $513,730 $-280,153 -2.8%
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
5
Independent Members
2
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
2
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIC GREGORY PRESIDENT & DIRECTOR 5.00
Officer Director
$0 $0 $0
SHEPHERD LEWIS SECRETARY & DIRECTOR 5.00
Officer Director
$0 $0 $0
CHARLIE BLAIR DIRECTOR 5.00
Director
$0 $0 $0
DAVID DEPIPPO DIRECTOR 5.00
Director
$0 $0 $0
MOLLY MCCOMB DIRECTOR 5.00
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
2025 No data No data No data No data
2024 $1,375,767 $862,037 $2,904,570 $513,730
2023 $750,049 $1,030,202 $2,892,780 $-280,153
2022 $1,069,729 $736,483 $1,856,734 $333,246
2021 $456,889 $390,392 $1,516,415 $66,497
2020 $109,195 $157,205 $1,460,212 $-48,010
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