Hampton Roads Workforce Foundation
Hampton Roads Workforce Foundation shows stable asset growth and no officer compensation despite revenue fluctuations.
EIN: 202957424 · Norfolk, VA · NTEE: J19 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $978K |
| Total Expenses | $1.1M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $90,871 |
| Net Assets | $343K |
| Transparency Score | 92/100 |
Is Hampton Roads Workforce Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hampton Roads Workforce Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hampton Roads Workforce Foundation
Hampton Roads Workforce Foundation (EIN: 202957424) is a nonprofit organization based in Norfolk, VA, classified under NTEE code J19. The organization reported total revenue of $978K and total assets of $693K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hampton Roads Workforce Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hampton Roads Workforce Foundation is a small nonprofit that has been operating for 23 years, with 7 years of IRS 990 filings on record (2017–2023). Revenue has grown at a compound annual rate of 55.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $1.1M |
| Surplus / Deficit | +$167K |
| Total Assets | $639K |
| Total Liabilities | $297K |
| Net Assets | $343K |
| Operating Margin | 13.1% |
| Debt-to-Asset Ratio | 46.4% |
| Months of Reserves | 6.9 months |
Financial Health Grade: A
In 2023, Hampton Roads Workforce Foundation reported a surplus of $167K with revenue exceeding expenses, holds 6.9 months of operating reserves (strong position), has a debt-to-asset ratio of 46.4% (moderate leverage).
Financial Trends
Over 7 years of filings (2017–2023), Hampton Roads Workforce Foundation's revenue has grown at a compound annual growth rate (CAGR) of 55.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -16.1% | -34.3% | -33.8% |
| 2022 | +147.2% | +184.9% | +177.8% |
| 2021 | -29.9% | -29.2% | +3.9% |
| 2020 | +48.1% | +39.2% | -2.1% |
| 2019 | +12.0% | +129.8% | -7.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2003 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hampton Roads Workforce Foundation with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Hampton Roads Workforce Foundation allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $167K, with revenue exceeding expenses.
- Debt-to-asset ratio: 46.4%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that no officers received compensation from the organization. This is a highly positive indicator for an organization of its size, with revenues ranging from $90,871 to over $1.5 million, as it suggests a strong dedication of resources directly to its mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hampton Roads Workforce Foundation's IRS 990 filings:
- Significant year-over-year revenue and expense fluctuations, such as the drop in revenue from $1,519,079 in 202206 to $1,274,585 in 202306, which could indicate funding instability.
Strengths
The following positive indicators were identified for Hampton Roads Workforce Foundation:
- Consistent 0% officer compensation across all filings, indicating high efficiency and dedication of funds to mission.
- Positive trend in asset growth, from $23,008 in 201706 to $639,137 in 202306, demonstrating financial stability.
- Regular and transparent filing of IRS Form 990s for seven periods, showing commitment to public accountability.
- Achieved a surplus in the most recent filing period (202306), with revenues exceeding expenses by $166,900.
Frequently Asked Questions about Hampton Roads Workforce Foundation
Is Hampton Roads Workforce Foundation a legitimate charity?
Hampton Roads Workforce Foundation (EIN: 202957424) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 92/100. It has 7 years of IRS 990 filings on record. Total revenue: $978K. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Hampton Roads Workforce Foundation spend its money?
Hampton Roads Workforce Foundation directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Hampton Roads Workforce Foundation tax-deductible?
Hampton Roads Workforce Foundation is registered as a tax-exempt nonprofit (EIN: 202957424). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Hampton Roads Workforce Foundation CEO make?
Hampton Roads Workforce Foundation's highest-compensated officer earns $90,871 annually. The organization reported $978K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Hampton Roads Workforce Foundation's spending goes to programs?
Hampton Roads Workforce Foundation directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hampton Roads Workforce Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Hampton Roads Workforce Foundation is above average for NTEE category J19 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hampton Roads Workforce Foundation located?
Hampton Roads Workforce Foundation is headquartered in Norfolk, Virginia and files with the IRS under EIN 202957424. It is classified under NTEE code J19.
How many years of IRS 990 filings does Hampton Roads Workforce Foundation have?
Hampton Roads Workforce Foundation has 7 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $978K in total revenue.
Is Hampton Roads Workforce Foundation a good charity?
Based on the provided data, the Hampton Roads Workforce Foundation appears to be a good charity. It consistently reports 0% officer compensation, indicating that funds are directed towards its mission. The organization also demonstrates consistent asset growth and a history of transparent IRS 990 filings.
How has the organization's financial health changed over time?
The organization's financial health has shown growth in assets from $23,008 in 201706 to $639,137 in 202306. Revenue and expenses have fluctuated, with a significant surplus in 202306 ($1,274,585 revenue vs. $1,107,685 expenses) following a deficit in 202206 ($1,519,079 revenue vs. $1,686,207 expenses). Liabilities have also decreased significantly from their peak in 202206.
What is the organization's approach to executive compensation?
The Hampton Roads Workforce Foundation has a highly commendable approach to executive compensation, reporting 0% officer compensation in all available IRS 990 filings. This means no officers received salaries or other compensation from the organization, maximizing funds available for programs.
Filing History
IRS 990 filing history for Hampton Roads Workforce Foundation showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2017–2023), Hampton Roads Workforce Foundation's revenue has grown by 1302.6%, moving from $91K to $1.3M. Total assets increased by 2677.9% over the same period, from $23K to $639K. Total functional expenses rose by 930.8%, from $107K to $1.1M. In its most recent filing year (2023), Hampton Roads Workforce Foundation reported a surplus of $167K, with revenue exceeding expenses. The organization holds $297K in liabilities against $639K in assets (debt-to-asset ratio: 46.4%), resulting in net assets of $343K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $1.1M | $639K | $297K | — | View 990 |
| 2022 | $1.5M | $1.7M | $965K | $789K | — | View 990 |
| 2021 | $615K | $592K | $347K | $5K | — | View 990 |
| 2020 | $876K | $837K | $335K | $14K | — | View 990 |
| 2019 | $592K | $601K | $342K | $61K | — | View 990 |
| 2018 | $528K | $262K | $368K | $78K | — | View 990 |
| 2017 | $91K | $107K | $23K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $1.1M, and assets of $639K (revenue -16.1% year-over-year).
- 2022: Revenue of $1.5M, expenses of $1.7M, and assets of $965K (revenue +147.2% year-over-year).
- 2021: Revenue of $615K, expenses of $592K, and assets of $347K (revenue -29.9% year-over-year).
- 2020: Revenue of $876K, expenses of $837K, and assets of $335K (revenue +48.1% year-over-year).
- 2019: Revenue of $592K, expenses of $601K, and assets of $342K (revenue +12.0% year-over-year).
- 2018: Revenue of $528K, expenses of $262K, and assets of $368K (revenue +481.3% year-over-year).
- 2017: Revenue of $91K, expenses of $107K, and assets of $23K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hampton Roads Workforce Foundation:
Data Sources and Methodology
This transparency report for Hampton Roads Workforce Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.