Overview
What is Virginia Ship Repair Foundation?
Virginia Ship Repair Foundation is a nonprofit organization based in Norfolk, Virginia, with an address at 101 W Main Street Suite 5500. Its mission is to promote workforce development and enhance the viability of the ship repair industry in Virginia. In 2022, they achieved this by conducting virtual career and industry outreach to local schools, hosting a ship repair digital innovation design competition for middle school teams, offering marine trade training courses for entry-level workers in partnership with regional community colleges, organizing tours of ship repair facilities, and partnering with local school systems to provide information about available career pathways. The foundation's primary focus is on educating and developing the existing and future workforce of the ship repair industry.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
The Virginia Ship Repair Foundation has received a solid Three-Star rating from Charity Navigator, reflecting a score of 82%. This rating is primarily based on the organization's Accountability & Finance metrics, indicating a strong emphasis on financial transparency and responsible management. The high score suggests that the foundation effectively utilizes its resources to support its mission.
Strengths of the organization include a fully independent board, with 100% of its members meeting this criterion. Additionally, the foundation maintains a strong program expense ratio of 93.32%, signifying that a significant majority of its funds are directed toward its programs rather than administrative costs. Their financial statements are well-managed, reviewed, and compiled, which contributes to their robust accountability metrics.
While the organization shows excellent performance in key areas, potential donors and stakeholders should consider the scope and impact of its programs beyond financial metrics. Overall, the Virginia Ship Repair Foundation exemplifies sound financial practices, but like any nonprofit, ongoing assessment of its program effectiveness would further enhance its profile.
This AI summary has been generated from information found on Charity Navigator.
Is Virginia Ship Repair Foundation legitimate?
Virginia Ship Repair Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Virginia Ship Repair 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Virginia Ship Repair Foundation?
The Virginia Ship Repair Foundation's mission is centered around promoting workforce development in the ship repair industry. Their primary objective is to enhance the existing and future workforce in this sector. To achieve this, they engage in various activities such as career and industry outreach, hosting competitions, offering marine trade training courses, facilitating tours of ship repair facilities, and collaborating with local schools to provide information on career pathways. These initiatives aim to equip students and workers with the necessary skills and understanding of the ship repair industry, thereby ensuring its continued viability.
Who is the CEO of Virginia Ship Repair Foundation?
William Crow is the Executive Director of Virginia Ship Repair Foundation.
What is the revenue of Virginia Ship Repair Foundation?
Virginia Ship Repair Foundation's revenue in 2022 was $617,296.
Who are the executives of Virginia Ship Repair Foundation and what are their salaries?
There 15 volunteers at Virginia Ship Repair Foundation.
Here are 16 key members and their salaries:
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Where can I find the form 990 for Virginia Ship Repair Foundation?
Virginia Ship Repair Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Virginia Ship Repair Foundation
The Virginia Ship Repair Foundation is dedicated to promoting workforce development and other initiatives that enhance the viability of the ship repair industry within Virginia. Their primary objective is to recruit, nurture, and educate the existing and future workforce of the ship repair sector. In pursuit of this mission, the foundation executed various strategies in 2022.
One of the key initiatives was to reach out to local schools through virtual career and industry days. This outreach aimed to introduce students to the various opportunities available within the ship repair industry. Additionally, the foundation organized a Ship Repair Digital Innovation Design Competition, inviting nine middle school teams to participate. This event provided a unique opportunity for approximately 90 students to showcase their creative problem-solving skills in a ship repair-related context.
Furthermore, the Virginia Ship Repair Foundation continued to offer marine trade training courses in collaboration with regional community colleges. These courses covered essential skills such as coating, electrical work, outside machinist, pipefitting, sheet metal, and welding, specifically targeting entry-level workers in the ship repair industry. The foundation also facilitated tours of ship repair facilities, allowing various groups to experience the shipyard environment and engage with incumbent workers.
By partnering with regional school systems in Hampton, Norfolk, Virginia Beach, Chesapeake, and Portsmouth, the Virginia Ship Repair Foundation provided valuable career pathway information to interested students. This proactive approach to workforce development and education is instrumental in ensuring the long-term viability of the ship repair industry in Virginia.
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Impact
July, 2024
Virginia Ship Repair Foundation's impact can be seen in the significant strides made in training and developing the workforce for the ship repair industry. Through initiatives like virtual career and industry day outreach to schools, hosting innovative competitions for students, offering training courses in marine trades, facilitating tours of ship repair facilities, and partnering with regional school systems to inform students about career opportunities, the foundation has played a vital role in promoting workforce development in Virginia. By recruiting, developing, and educating individuals for careers in ship repair, the foundation contributes to the viability and growth of the ship repair industry in the region.
This information is meant to be a general summary of Virginia Ship Repair 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: $7,716
- Program Service Revenue: $295,935
- Gross Receipts: $668,631
Assets and Liabilities:
- Total Assets: $1,371,965
- Total Liabilities: $51,169
- Net Assets: $1,320,796
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PRE-HIRE EDUCATION FEES
Revenue
$295,935
Organization Details
Founding Year
2005
Phone
(757) 233-7034Principal Officer
William Crow
Main Address
101 W Main Street Suite 5500, Norfolk, VA, 23510
NTEE Category
Code: J22 - Employment
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