Nonprofit · EIN 84-2208618
SOVA INNOVATION HUB CORPORATION
Tax-exempt · SOUTH BOSTON, VA 24592
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $716,424 | $749,358 | -$32,934 | $2,282,962 | $1,234,575 | $1,048,387 |
| June 30, 2024 | 990 | $502,048 | $511,330 | -$9,282 | $1,430,082 | $348,761 | $1,081,321 |
| June 30, 2023 | 990 | $716,186 | $750,265 | -$34,079 | $1,615,558 | $524,955 | $1,090,603 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $643,728
- of which government grants
- $294,153
- Program service revenue
- $72,696
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $13,500
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $6,394
- Accounting fees
- $23,740
- Occupancy
- $204,420
- Travel
- $5,476
- Depreciation
- $26,062
- Program services (functional)
- $446,388
- Management and general (functional)
- $302,970
Balance sheet and other
- Total assets, start of year
- $1,430,082
- Total assets, end of year
- $2,282,962
- Total liabilities, end of year
- $1,234,575
- Net assets, end of year
- $1,048,387
- Land, buildings and equipment
- $93,734
- Net assets without donor restrictions
- $205,377
- Net assets with donor restrictions
- $843,010
- Gross receipts
- $716,424
- Employees
- 0
- Year formed
- 2019
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THOMAS DERISO | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| JEREMY SATTERFIELD | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| PHILLIP LLOYD | TREASURER Officer | 1 | $0 |
990 for the year ended June 30, 2024: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THOMAS DERISO | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| JEREMY SATTERFIELD | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| PHILLIP LLOYD | TREASURER Officer | 1 | $0 |
990 for the year ended June 30, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THOMAS DERISO | CHAIRMAN Trustee or director, Officer | 1 | $0 |
| JEREMY SATTERFIELD | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| PHILLIP LLOYD | TREASURER Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 715 WILBORN AVE, SOUTH BOSTON, VA 24592-3123
- In care of
- % DANIEL LLOYD
- Principal officer (990 for 2024)
- THOMAS DERISO
- Signed the 990
- PHILLIP LLOYD, TREASURER
- Phone
- (434) 570-1301
- Return prepared by
- ROBINSON FARMER COX ASSOCIATES
Mission
TO PROMOTE ECONOMIC DEVELOPMENT AND ENCOURAGE INNOVATION FOR THE BENEFIT OF THE COMMUNITIES AND CITIZENS OF SOUTHERN VIRGINIA BY OFFERING IMPACTFUL PROGRAMMING FOR DIGITAL SKILLS EDUCATION AND WORKFORCE TRAINING.
Program accomplishments
- TO PROMOTE ECONOMIC DEVELOPMENT AND ENCOURAGE INNOVATION FOR THE BENEFIT OF THE COMMUNITIES AND CITIZENS OF SOUTHERN VIRGINIA BY OFFERING IMPACTFUL PROGRAMMING FOR DIGITAL SKILLS EDUCATION AND WORKFORCE TRAINING.Expenses $446,388 · grants $13,500
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 84-2208618
- 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
- 2019
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $2,282,962
- Income (IRS master file)
- $716,424
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $716,424 | $749,358 | $2,282,962 | XML |
| 990 | June 2024 | $502,048 | $511,330 | $1,430,082 | XML |
| 990 | June 2023 | $716,186 | $750,265 | $1,615,558 | XML |
| 990 | June 2022 | $890,987 | $584,357 | $1,222,252 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | 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 84-2208618).
Questions about SOVA INNOVATION HUB CORPORATION
- What is the EIN of SOVA INNOVATION HUB CORPORATION?
- The employer identification number (EIN) of SOVA INNOVATION HUB CORPORATION is 84-2208618.
- Is SOVA INNOVATION HUB CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
- Are donations to SOVA INNOVATION HUB CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SOVA INNOVATION HUB CORPORATION 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 SOVA INNOVATION HUB CORPORATION due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SOVA INNOVATION HUB CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of SOVA INNOVATION HUB CORPORATION?
- The 990 for the year ended June 30, 2025 names THOMAS DERISO.
- Who are the officers and directors of SOVA INNOVATION HUB CORPORATION?
- The 990 for the year ended June 30, 2025 lists 3 people; 0 received compensation from the organization.
- How much revenue does SOVA INNOVATION HUB CORPORATION have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $716,424, expenses of $749,358 and total assets of $2,282,962 at year end.
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