FRIENDS OF THE SOUTHWEST VIRGINIA MUSEUM INC (EIN 142003671) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Principal Officer

VERONICA DAVIS

Phone

2765239640

Tax Period

2024-01-01 to 2024-12-31

FRIENDS OF THE SOUTHWEST VIRGINIA MUSEUM INC, founded in 2007, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $102K in total revenue in fiscal year 2018. Revenue surged 60% from the prior year, signaling strong growth momentum. The organization ran a surplus of $74K, a strong 72% operating margin.

Mission

ORGANIZES AND CONDUCTS A MUSIC FESTIVAL CALLED "GATHERING IN THE GAP" TO PROMOTE AND SUPPORT THE SOUTHWEST VIRGINIA MUSEUM.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $304,933

Program Service Revenue $4,594

Investment Income $0

Other Revenue $0

TOTAL REVENUE $309,527

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $45,948

Other Expenses $53,548

TOTAL EXPENSES $53,548

Year-over-Year Comparison

	2024	2023	Change
Revenue	$309,527	$312,159	0.0%
Expenses	$53,548	$90,241	-0.4%
Net Income	$255,979	$221,918	+0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TERRIE ADAMS	SECRETARY	N/A	Officer Director	$0	$0	$0
VERONICA DAVIS	PRESIDENT	N/A	Officer Director	$0	$0	$0
CRYSTAL LYKE	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
DEBBIE WRIGHT	TREASURER	N/A	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$309,527	$53,548	$1,218,582	$255,979
2023	$312,159	$90,241	$962,603	$221,918
2022	$312,222	$71,065	$740,685	$241,157
2021	$7,800	$24,268	$499,528	$-16,468
2020	$176,298	$25,199	$515,996	$151,099
2018	$102,283	$28,390	$143,177	$73,893

FRIENDS OF THE SOUTHWEST VIRGINIA MUSEUM INC