CHARLOTTESVILLE BUSINESS INNOVATION COUNCIL Charity Report

Public IRS 990 nonprofit record

CHARLOTTESVILLE BUSINESS INNOVATION COUNCIL

EIN 54-1900292 · Chambers of Commerce & Business Leagues (S41)

What they do

THE HUB CVA - CBIC OPERATES THE HUB CVA WEBSITE (HTTPS://THEHUBCVA.ORG/). THE HUB WAS BUILT ON THE VISION of THE CHARLOTTESVILLE BUSINESS INNOVATION COUNCIL THAT THERE is A BETTER WAY to GET INFORMATION and MAKE CONNECTIONS. BUSINESS CREATION and GROWTH INVOLVE MANY TRANSACTIONS, BUT THE CURRENCY of THOSE TRANSACTIONS is ALWAYS INFORMATION and CONNECTIONS. THE HUB EXISTS to FACILITATE CONNECTIONS and THE FREE FLOW of INFORMATION.THE HUB is A REGIONAL CONNECTOR PLATFORM for ENTREPRENEURS and HIGH-GROWTH BUSINESSES IN CENTRAL VIRGINIAS REGION 9, WHICH INCLUDES THE CITY of CHARLOTTESVILLE, and THE COUNTIES of ALBEMARLE, CULPEPER, FAUQUIER, FLUVANNA, GREENE, LOUISA, MADISON, NELSON, ORANGE, and RAPPAHANNOCK.THE MISSION of THE HUB is to LOWER THE BARRIERS of WALLED SITES and BUSINESSES, and HELP ITS USERS FIND THE PEOPLE and THINGS THAT MATTER THE MOST to THEM. FROM MARGINALIZED COMMUNITIES THAT HAVE TRADITIONALLY BEEN ON THE OUTSIDE of MAINSTREAM ACCESS to THOSE ALREADY PARTICIPATING IN TH

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $82.90 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders12 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

82.47%of revenue went to mission work82.9% of expenses · Program services

$142.63spent for every $100 of revenueSpending was higher than revenue this year.

17.00%of revenue went to management and office costs17.1% of expenses

$0.26in assets for every $1 spent this yearSome assets cannot be spent right away.

23.1%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $55,851 this year. Ask whether that was planned or caused by a one-time event.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$274,073

Mission workProgram services$226,01882.47% of revenue82.9% of expenses

ManagementOffice and general costs$46,59617.00% of revenue17.1% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$1,4590.53% of revenueShown in gray on the chart

Total expenses$272,61499.47% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 82.9% mission · 17.1% management · 0.0% fundraisingTotal expenses: 99.47% of revenue

2019Expense mix: 81.9% mission · 0.0% management · 0.0% fundraisingTotal expenses: 99.99% of revenue

2018Expense mix: 82.8% mission · 0.0% management · 0.0% fundraisingTotal expenses: 97.67% of revenue

2017Expense mix: 82.6% mission · 0.0% management · 0.0% fundraisingTotal expenses: 91.20% of revenue

2016Expense mix: 82.3% mission · 0.0% management · 0.0% fundraisingTotal expenses: 101.18% of revenue

Money in and money out

Revenue$131,002

Expenses$186,853

Annual shortfall $55,851 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$226,018 · 121.0% of expenses

This source amount exceeds total expenses; compare the filing details carefully.

Management and office costs$46,596 · 24.9% of expenses

See all reported dollar amounts

Revenue$131,002

Expenses$186,853

Assets$48,246

Income$131,002

Contributions$30,309

Mission work (program services)$226,018

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

No compensation was reported for these leaders. The complete board and leadership roster is shown below.

Board and leadership roster (12)

ADRIAN FELTSVICE CHAIRMAN

ANDREW STOCKMENTDIRECTOR

CLAUDIA VEYSELDIRECTOR

CRAIG HONICKCHAIR EMERITUS

HOPE MCCUTCHEONSECRETARY

JOHN GRIFFITHDIRECTOR

JOHN MARTINDIRECTOR

KATINA DUDLEYDIRECTOR

KEITH GROOMESDIRECTOR

LISA WINNDIRECTOR

SANDRA MCCUTCHEONDIRECTOR

SHERRY GRAYCHAIRWOMAN AND TREASURER

About this charity

Recognized since: January 2010
Location: PO BOX 303, CHARLOTTESVLE, VA 22902-0303
County: Charlottesville (city)
In care of: % J WALTER LEVERING
Primary officer: MATTHEW J DEAN, CHAIRWOMAN AND TREASURER

How to reach them

WebsiteVisit the charity’s website Phone(434) 242-5886

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990EZ
Tax preparer: HANTZMON WIEBEL LLP
NTEE classification: Chambers of Commerce & Business Leagues (S41)
IRS tax category: Chambers of Commerce & Business Leagues