Overview
What is Virginia Nutrient Credit Exchange Association Inc?
Virginia Nutrient Credit Exchange Association Inc is a nonprofit organization based in Richmond, Virginia. Its primary mission is to facilitate and coordinate the involvement of its members in Virginia's Chesapeake Bay Watershed Nutrient Credit Exchange Program. Established in 2005, this program aims to help Virginia meet its Chesapeake Bay waste load allocations at a cost-effective rate, while accommodating ongoing growth and development within nutrient cap allocations. The Association plays a crucial role in this program by updating compliance plans annually and managing the buying and selling of nutrient credits within the year.
Official website here: www.theexchangeassociation.org
Is Virginia Nutrient Credit Exchange Association Inc legitimate?
Virginia Nutrient Credit Exchange Association Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Virginia Nutrient Credit Exchange Association Inc 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.
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.theexchangeassociation.org
What is the mission statement of Virginia Nutrient Credit Exchange Association Inc?
The Virginia Nutrient Credit Exchange Association Inc's mission is to facilitate and coordinate the involvement of its members in Virginia's Chesapeake Bay Watershed Nutrient Credit Exchange Program. This program, enacted in Virginia law in 2005, aims to help Virginia meet its Chesapeake Bay waste load allocations in a cost-effective and timely manner, while accommodating growth and development within nutrient cap allocations. The association plays a crucial role in overseeing member participation in this program, ensuring compliance with the Virginia State Water Control Board's requirements and handling transactions for purchasing and selling nutrient credits.
Official website here: www.theexchangeassociation.org
Who is the CEO of Virginia Nutrient Credit Exchange Association Inc?
James C Grandstaff is the President of Virginia Nutrient Credit Exchange Association Inc.
Official website here: www.theexchangeassociation.org
What is the revenue of Virginia Nutrient Credit Exchange Association Inc?
Virginia Nutrient Credit Exchange Association Inc's revenue in 2023 was $1,629,964.
Official website here: www.theexchangeassociation.org
Who are the executives of Virginia Nutrient Credit Exchange Association Inc and what are their salaries?
There 9 volunteers at Virginia Nutrient Credit Exchange Association Inc.
Here are 9 key members and their salaries:
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Official website here: www.theexchangeassociation.org
Where can I find the form 990 for Virginia Nutrient Credit Exchange Association Inc?
Virginia Nutrient Credit Exchange Association Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.theexchangeassociation.org
Learn more at the official website: www.theexchangeassociation.org
Mission Statement of Virginia Nutrient Credit Exchange Association Inc
Virginia Nutrient Credit Exchange Association Inc plays a crucial role in coordinating and facilitating the participation of its members in Virginia's Chesapeake Bay Watershed Nutrient Credit Exchange Program. This mission is aimed at enabling Virginia to meet its Chesapeake Bay waste load allocations in a cost-effective and timely manner, while accommodating continued growth and development under nutrient cap allocations. The association helps its members navigate this program, a legislative initiative enacted in 2005, which is designed to facilitate nutrient credit trading within the state. It ensures that its members are compliant with the annual update requirements set forth by the Virginia State Water Control Board. Furthermore, the association facilitates the purchasing and selling of nutrient credits within its membership, playing a significant role in the efficient implementation of Virginia's waste management strategies within the Chesapeake Bay Watershed.
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Impact
October, 2024
Virginia Nutrient Credit Exchange Association Inc plays a vital role in addressing water quality issues within Virginia's Chesapeake Bay watershed. By coordinating the participation of its members in the state's Nutrient Credit Exchange Program, established in 2005, the organization facilitates a mechanism that allows Virginia to meet its waste load allocations for nutrients effectively and efficiently.
The association's efforts enable various stakeholders—from local governments to agricultural entities—to buy and sell nutrient credits. This trading system incentivizes pollution reduction while accommodating growth and development under established nutrient caps. The annual compliance plan updates required by the Virginia State Water Control Board highlight the organization's commitment to adherence to regulatory frameworks while promoting environmental sustainability.
In facilitating these transactions and ensuring compliance, the organization contributes to the broader goal of protecting and restoring the Chesapeake Bay, one of the most significant estuaries in the United States. By promoting cost-effective solutions to nutrient management, the association plays a crucial role in fostering community improvements and supporting the ecological health of the region.
This information is meant to be a general summary of Virginia Nutrient Credit Exchange Association Inc. 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 2023.
- Investment Income: $2,160
- Program Service Revenue: $1,627,804
- Gross Receipts: $1,629,964
Assets and Liabilities:
- Total Assets: $1,691,056
- Total Liabilities: $0
- Net Assets: $1,691,056
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NUTRIENT CREDIT PURCHASES
Revenue
$1,457,879
MEMBERSHIP DUES
Revenue
$169,925
Organization Details
Founding Year
2005
Phone
(804) 716-9021Principal Officer
James C Grandstaff
Main Address
C/O AQUALAW PLC 6 SOUTH 5TH ST, RICHMOND, VA, 232193824
NTEE Category
Code: S40 - Community improvement
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