Nonprofit · EIN 88-3042559
THE HOKIE WAY INC
Tax-exempt · SALEM, VA 24153
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $3,742,787 | $3,789,644 | -$46,857 | $408,637 | $0 | $408,637 |
| December 31, 2023 | 990 | $3,379,292 | $3,374,569 | $4,723 | $680,752 | $225,000 | $455,752 |
| December 31, 2022 | 990 | $627,321 | $176,292 | $451,029 | $451,029 | $0 | $451,029 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,735,699
- Program service revenue
- $0
- Investment income
- $7,088
- Net gain from sales of assets
- $264
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $2,500
- Compensation of officers, directors and key employees
- $109,604
- Salaries, compensation and benefits (total)
- $118,415
- Professional fundraising fees
- $0
- Legal fees
- $1,275
- Accounting fees
- $465
- Program services (functional)
- $3,723,262
- Management and general (functional)
- $52,017
- Fundraising (functional)
- $14,365
Balance sheet and other
- Total assets, start of year
- $680,752
- Total assets, end of year
- $408,637
- Total liabilities, end of year
- $0
- Net assets, end of year
- $408,637
- Net assets without donor restrictions
- $408,637
- Gross receipts
- $4,147,676
- Employees
- 1
- Volunteers
- 30
- Year formed
- 2022
- State of legal domicile
- VA
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 |
|---|---|---|---|
| Matthew Sams | Executive Director Key employee, Highest-paid employee | 40 | $109,604 |
| James G Petrine | President Trustee or director, Officer | 5 | $0 |
| James Cowan | Secretary Trustee or director, Officer | 5 | $0 |
| James E Pearman Jr | Treasurer Trustee or director, Officer | 5 | $0 |
| Nicholas Rush | Director Trustee or director | 1 | $0 |
| Justin Robinson | Director Trustee or director | 1 | $0 |
| Tyrod Taylor | Director Trustee or director | 1 | $0 |
| Jay Poole | Director Trustee or director | 1 | $0 |
| Whitney Showalter | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| James G Petrine | President Trustee or director, Officer | 5 | $0 |
| James Cowan | Secretary Trustee or director, Officer | 5 | $0 |
| James E Pearman Jr | Treasurer Trustee or director, Officer | 5 | $0 |
| Nicholas Rush | Director Trustee or director | 1 | $0 |
| Justin Robinson | Director Trustee or director | 1 | $0 |
| Tyrod Taylor | Director Trustee or director | 1 | $0 |
| Jay Poole | Director Trustee or director | 1 | $0 |
| Whitney Showalter | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2022: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| James G Petrine | President Trustee or director, Officer | 5 | $0 |
| James Cowan | Secretary Trustee or director, Officer | 5 | $0 |
| James E Pearman Jr | Treasurer Trustee or director, Officer | 5 | $0 |
| Nicholas Rush | Director Trustee or director | 1 | $0 |
| Justin Robinson | Director Trustee or director | 1 | $0 |
| Tyrod Taylor | Director Trustee or director | 1 | $0 |
| Bridget Ryan Berman | Director Trustee or director | 2 | $0 |
| Jaila Tolbert | Director Trustee or director | 1 | $0 |
| Kelly Woolwine | Director Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 421 S COLLEGE AVE, SALEM, VA 24153-5055
- Principal officer (990 for 2024)
- JAMES E PEARMAN JR, 421 S COLLEGE AVE, SALEM, VA 24153
- Signed the 990
- JAMES E PEARMAN JR, TREASURER
- Phone
- (540) 444-2930
- Website
- www.thehokieway.org
- Return prepared by
- Partners In Financial Planning LLC
Mission
The Hokie Way supports the active engagement of student-athletes in leveraging their Name, Image and Likeness to amplify the mission of charitable organizations as a way to give back to the community and encourage a new generation of of Virginia Tech athletes.
Program accomplishments
- Promote public awareness and programs of the partner charity utilizing contract services of a public relations and marketing firm that provided online social media content and personal participation by Virginia Tech athletes.Expenses $3,555,952
- Promote awareness and programs of the partner charity utilizing contract services of a public relations and marketing firm and paid staff that provided online social media content and personal participation by Virginia Tech athletes.Expenses $167,310
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
- 88-3042559
- 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
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T99)
- Assets (IRS master file)
- $408,637
- Income (IRS master file)
- $4,147,676
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $3,742,787 | $3,789,644 | $408,637 | IRS |
| 990 | December 2023 | $3,379,292 | $3,374,569 | $680,752 | XML |
| 990 | December 2022 | $627,321 | $176,292 | $451,029 | XML |
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 88-3042559).
Questions about THE HOKIE WAY INC
- What is the EIN of THE HOKIE WAY INC?
- The employer identification number (EIN) of THE HOKIE WAY INC is 88-3042559.
- Is THE HOKIE WAY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to THE HOKIE WAY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE HOKIE WAY 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 THE HOKIE WAY 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 THE HOKIE WAY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of THE HOKIE WAY INC?
- The 990 for the year ended December 31, 2024 names JAMES E PEARMAN JR.
- Who are the officers and directors of THE HOKIE WAY INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 1 received compensation from the organization, the highest $109,604 (Matthew Sams, Executive Director).
- How much revenue does THE HOKIE WAY INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $3,742,787, expenses of $3,789,644 and total assets of $408,637 at year end.
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All nonprofits in SALEM · Virginia · Philanthropy, voluntarism and grantmaking foundations