Better Business Bureau Report for
Virginia Historical Society

Better Business Bureau Report issued December 2011
Better Business Bureau Report expires December 2013


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Virginia Historical Society
Address: 428 North Boulevard
  Richmond, VA 23220
Phone: 804-342-9657
Web Address: http://www.vahistorical.org
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Better Business Bureau Comments

Year, State Incorporated: 1831, Virginia
Affiliates: None
Stated Purpose: Connecting people to America's past through the unparalleled story of Virginia. By collecting, preserving, and interpreting the Commonwealth's history, we link past with present and inspire future generations.

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Evaluation Conclusions

               

Virginia Historical Society meets the 20 Standards for Charity Accountability.
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Programs

               

The Virginia Historical Society preserves the history of Virginia through library and educational programs, publications, and museum exhibitions.

For the fiscal year ended June 30, 2010, Virginia Historical Society's program expenses were:

  
Programs 6,811,497
Collections 2,799,606
Total Program Expenses: $9,611,103
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Governance

               

Chief Executive : Paul A. Levengood, President and CEO
Compensation*:
 $73,506

Chair of the Board: W. Taylor Reveley III
Chair's Profession / Business Affiliation: President, The College of William and Mary

Board Size: 27

Paid Staff Size: 75

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances. The VHS recently changed from a calendar year end to a fiscal year end. This compensation is from January 1, 2010 to June 30, 2010.
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Fund Raising

               

Method(s) Used:

direct mail, invitations to fund raising events, print advertisements, grant proposals, internet, planned giving arrangements, membership
Fund raising costs were 16% of related contributions. (Related contributions, which totaled $6,240,202, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on Virginia Historical Society's audited financial statements for the fiscal year ended June 30, 2010.

Source of Funds  
Investment Return 6,660,596
Grants 2,741,294
Contributions 1,867,251
Annual Giving 1,315,370
Rental Income 438,982
Fees/Admissions 366,859
Publications/Merchandise 339,140
Membership Dues 316,287
Other 102,642
Royalties 10,808
Net assets released from restriction
Total Income $14,159,229


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Uses of Funds as a % of Total Expenses

Programs: 76%  Fund Raising: 8%  Administrative: 16% 

Total income   $14,159,229
  Program expenses $9,611,103
  Fund raising expenses 988,958
  Administrative expenses 2,003,432
 
Total expenses   $12,603,493
Income in Excess of Expenses   1,555,736
Beginning net assets   64,229,681
Ending net assets   65,785,417
Total liabilities   9,228,984
Total assets   $75,014,401


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This report is not to be used for fund raising or promotional purposes.

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