Nonprofit · EIN 38-1606320
INITIATIVES OF CHANGE INC
Tax-exempt · RICHMOND, VA 23230
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $266,174 | $903,111 | -$636,937 | $5,420,426 | $303,953 | $5,116,473 |
| December 31, 2023 | 990 | $393,980 | $850,880 | -$456,900 | $5,841,355 | $284,611 | $5,556,744 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $17,119
- Program service revenue
- $541
- Investment income
- $248,514
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $270,000
- Salaries, compensation and benefits (total)
- $326,128
- Professional fundraising fees
- $0
- Accounting fees
- $63,112
- Occupancy
- $33,008
- Travel
- $71,458
- Depreciation
- $1,013
- Program services (functional)
- $488,875
- Management and general (functional)
- $414,236
Balance sheet and other
- Total assets, start of year
- $5,841,355
- Total assets, end of year
- $5,420,426
- Total liabilities, end of year
- $303,953
- Net assets, end of year
- $5,116,473
- Land, buildings and equipment
- $113,405
- Publicly traded securities
- $4,937,184
- Net assets without donor restrictions
- $4,332,032
- Net assets with donor restrictions
- $784,441
- Gross receipts
- $266,174
- Employees
- 3
- Volunteers
- 7
- Year formed
- 1941
- State of legal domicile
- NJ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| VALERIE A LEMMIE | TREASURER Trustee or director, Officer | 10 | $0 |
| E TERRI LAVELLE | DIRECTOR Trustee or director | 5 | $0 |
| JEREMY A PEARCE | SECRETARY Trustee or director, Officer | 5 | $0 |
| WILLIAM HAMILTON | PRESIDENT Trustee or director, Officer | 10 | $0 |
| ANTHONY SHEEHAN | DIRECTOR Trustee or director | 5 | $0 |
| BREON WELLS | DIRECTOR Trustee or director | 5 | $0 |
| ALLAN CHARLES CHIPMAN | EXECUTIVE DIRECTOR Highest-paid employee | 40 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ANTHONY SHEEHAN | DIRECTOR Trustee or director | 5 | $0 |
| E TERRI LAVELLE | DIRECTOR Trustee or director | 5 | $0 |
| BREON WELLS | DIRECTOR Trustee or director | 5 | $0 |
| WILLIAM HAMILTON | PRESIDENT Trustee or director, Officer | 10 | $0 |
| VALERIE A LEMMIE | TREASURER Trustee or director, Officer | 10 | $0 |
| JEREMY A PEARCE | SECRETARY Trustee or director, Officer | 5 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 11304, RICHMOND, VA 23230-1304
- In care of
- % VALERIE A LEMMIE
- Signed the 990
- VALERIE A LEMMIE, TREASURER
- Phone
- (804) 358-1764
- Website
- WWW.US.IOFC.ORG
- Return prepared by
- Compass CPAs of Virginia
Mission
SEE SCHEDULE O
Program accomplishments
- INTERNATIONAL PROGRAM: PROVIDED LEADERSHIP OR PARTICIPATION AT INTERNATIONAL CONFERENCES OF PHILOSOPHICALLY RELATED INDIVIDUALS AND CORPORATIONS, CONDUCTING SEMINARS RELATED TO CONFLICT RESOLUTION AND DEVELOPMENT OF LIFE CHANGING SKILLS.Expenses $286,759
- DESIGNATED INITIATIVES: 2024 ACHIEVEMENTS INCLUDED FACILITATION OF SEMINARS, WORKSHOPS AND COMMUNITY DIALOGUES WHICH TAUGHT SKILLS IN DIALOGUE, CONFLICT TRANSFORMATION AND RECONCILIATION. NATIONAL PROGRAM: 2024 ACHIEVEMENTS INCLUDED REGIONAL ACTIVITIES WHICH TRAINED AND DEVELOPED LIFE CHANGING SKILLS TO FURTHER THE PRINCIPLES OF THE ORGANIZATIONS, OPERATION OF FACILITIES, INCLUDING WORKSHOPS/SEMINARS BY EMPLOYEES AND VOLUNTEER WORKERS.Expenses $202,116
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 38-1606320
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1941
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A32Z)
- Assets (IRS master file)
- $5,420,426
- Income (IRS master file)
- $266,174
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $266,174 | $903,111 | $5,420,426 | XML |
| 990 | December 2023 | $393,980 | $850,880 | $5,841,355 | XML |
| 990 | December 2022 | $446,298 | $672,704 | $6,100,608 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 38-1606320).
Questions about INITIATIVES OF CHANGE INC
- What is the EIN of INITIATIVES OF CHANGE INC?
- The employer identification number (EIN) of INITIATIVES OF CHANGE INC is 38-1606320.
- Is INITIATIVES OF CHANGE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1941.
- Are donations to INITIATIVES OF CHANGE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INITIATIVES OF CHANGE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INITIATIVES OF CHANGE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INITIATIVES OF CHANGE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who are the officers and directors of INITIATIVES OF CHANGE INC?
- The 990 for the year ended December 31, 2024 lists 7 people; 0 received compensation from the organization.
- How much revenue does INITIATIVES OF CHANGE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $266,174, expenses of $903,111 and total assets of $5,420,426 at year end.
Other nonprofits in RICHMOND
- VIRGINIA MUSEUM OF FINE ARTS FOUNDATION EIN 51-0205333 · last filed 990 for 2025
- VPM MEDIA CORPORATION EIN 54-0735782 · last filed 990 for 2025
- VIRGINIA HISTORICAL SOCIETY EIN 54-0419452 · last filed 990 for 2025
- JAMESTOWN REDISCOVERY FOUNDATION EIN 47-2945490 · last filed 990 for 2025
- MAYMONT FOUNDATION EIN 54-6039788 · last filed 990 for 2025
- RICHMOND SYMPHONY EIN 54-6024033 · last filed 990 for 2025
- VIRGINIA FOUNDATION FOR PUBLIC MEDIA EIN 82-2118572 · last filed 990 for 2025
- RICHMOND BALLET INC EIN 54-6049848 · last filed 990 for 2025
All nonprofits in RICHMOND · Virginia · Arts, culture and humanities