Overview
What is Virginia Beach Billfish Foundation?
The Virginia Beach Billfish Foundation is a nonprofit organization situated in Virginia Beach, Virginia. Established in 2004, its primary purpose is to promote educational, scientific, and charitable causes through an annual fishing tournament. Over the years, the foundation has successfully raised over $1.4 million for various charities, such as the Boys & Girls Clubs, StopAbuse, Achievable Dream, and many others. Their efforts have supported numerous local organizations, demonstrating a strong commitment to their community. The foundation, with a modest workforce of two employees, continues to make a significant impact in Virginia Beach.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, Two-Star out of Four Star Rating
The Virginia Beach Billfish Foundation has received a 67% rating from Charity Navigator, which translates to a Two-Star rating. This score is derived entirely from their accountability and finance metrics, indicating a notable focus on these aspects. The organization has demonstrated strong governance practices, particularly with 100% of its board members being independent, which is a positive indicator of oversight and accountability.
In terms of financial health, the foundation shows impressive metrics, including a program expense ratio of 93.26%, meaning that a significant portion of its expenses directly supports its programs. Furthermore, the organization has no material diversion of assets and maintains a liabilities to assets ratio of 0.00%, suggesting that it operates without financial burdens. The documentation of board meeting minutes also indicates transparency in its operations.
However, despite the strengths in governance and financial management, the overall rating reflects areas for improvement in other performance metrics or operational effectiveness that are not detailed in the available information. Prospective donors may wish to consider this rating in the context of their individual priorities when evaluating the foundation's impact and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia Beach Billfish Foundation legitimate?
Virginia Beach Billfish Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Beach Billfish Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $13,750
Professional Fundraising Fees: $0
Other Salaries and Wages: $14,450
For more financial information, click here
What is the mission statement of Virginia Beach Billfish Foundation?
The Virginia Beach Billfish Foundation is committed to promoting educational, scientific, and charitable purposes. They achieve this objective through the organization of a fishing tournament. The tournament serves as a platform to raise funds for various charitable causes. Since its inception in 2004, the foundation has successfully donated over $1.4 million to organizations such as the Boys & Girls Clubs, StopAbuse, Achievable Dream, and others. The Virginia Beach Billfish Foundation's activities are geared towards making a positive impact in the community and beyond.
Who is the CEO of Virginia Beach Billfish Foundation?
Paula Davis is the Executive Director of Virginia Beach Billfish Foundation.
What is the revenue of Virginia Beach Billfish Foundation?
Virginia Beach Billfish Foundation's revenue in 2022 was $1,025,525.
Who are the executives of Virginia Beach Billfish Foundation and what are their salaries?
The average compensation at Virginia Beach Billfish Foundation during 2022 was $14,100. There are 2 employees and 40 volunteers at Virginia Beach Billfish Foundation.
Here are 10 key members and their salaries:
- Compensation: $13,750
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- Other: $0
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- Other: $0
Where can I find the form 990 for Virginia Beach Billfish Foundation?
Virginia Beach Billfish Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Virginia Beach Billfish Foundation
The Virginia Beach Billfish Foundation is committed to promoting educational, scientific, and charitable causes, leveraging the medium of a fishing tournament. This esteemed organization's mission is to make a significant impact in various sectors, all while adhering to legal guidelines. By orchestrating this annual event, the Virginia Beach Billfish Tournament, the foundation has managed to raise an impressive sum of over $1.4 million for various charitable causes since its inception in 2004. Some of the beneficiaries include local institutions such as Boys & Girls Clubs, StopAbuse, Achievable Dream, EVMS Cancer Research, ACCESS College Fund, Champions for Charity, Hampton Roads Academy, Virginia Beach Friends School, the Peninsula SPCA, and The Billfish Foundation. The Virginia Beach Billfish Foundation's charitable endeavors extend beyond financial support, as it aims to contribute positively to its community through its unique fishing tournament.
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Impact
October, 2024
The Virginia Beach Billfish Foundation has made a significant impact by combining sport fishing with charitable endeavors. Established in 2004, the Virginia Beach Billfish Tournament has successfully raised over $1.4 million for various local charities. This funding has supported organizations such as the Boys & Girls Clubs, EVMS Cancer Research, and the Peninsula SPCA, among others. By engaging the community in a celebration of sport, the foundation promotes educational and scientific initiatives while fostering a spirit of philanthropy. Its commitment to charitable purposes not only enhances local outreach but also strengthens the bonds within the Virginia Beach community.
This information is meant to be a general summary of Virginia Beach Billfish Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $33
- Program Service Revenue: $1,103,630
- Gross Receipts: $1,346,531
Assets and Liabilities:
- Total Assets: $118,288
- Total Liabilities: $0
- Net Assets: $118,288
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ENTRY FEES
Revenue
$1,067,000
OTHER FEES
Revenue
$24,150
TICKETS
Revenue
$12,480
Organization Details
Founding Year
2010
Phone
(757) 652-8409Principal Officer
Paula Davis
Main Address
PO Box 568, Virginia Beach, VA, 23452
NTEE Category
Code: T12 - Philanthropy
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