VIRGINIA LOCAL GOVERNMENT FINANCE … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2003

Legal Domicile

Principal Officer

ROBERT W LAUTERBERG

Phone

8046480635

Tax Period

2024-07-01 to 2025-06-30

VIRGINIA LOCAL GOVERNMENT FINANCE CORPORATION, founded in 2003, is a community nonprofit in the Community Improvement sector that reported $3.0M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion.

Mission

TO ADMINISTER A PROGRAM ESTABLISHED AND SPONSORED BY THE VIRGINIA MUNICIPAL LEAGUE AND VIRGINIA ASSOCIATION OF COUNTIES WHICH PROVIDES FINANCIAL SERVICES TO LOCAL GOVERNMENTAL ENTITIES IN THE COMMONWEALTH OF VIRGINIA. VLGFC OFFERS FINANCIAL-RELATED SERVICES ON A POOLED BASIS AND ALSO WHERE OPPORTUNITIES EXIST TO ACHIEVE ECONOMIES OF SCALE, THEREBY ENABLING LOCAL GOVERNMENTS TO OBTAIN HIGH QUALITY SERVICES AT RELATIVELY LOW COST.

Program Service Accomplishments

Program 1

Expenses: $2,006,832 Revenue: $2,235,274

AS OF JUNE 30, 2025 THE POOLED OPEB TRUST FUND MANAGED INVESTMENTS IN TWO SEPARATE PORTFOLIOS WITH NET ASSETS TOTALING 2.07 BILLION. AS OF JUNE 30, 2025 THE VIRGINIA INVESTMENT POOL MANAGED...

AS OF JUNE 30, 2025 THE POOLED OPEB TRUST FUND MANAGED INVESTMENTS IN TWO SEPARATE PORTFOLIOS WITH NET ASSETS TOTALING 2.07 BILLION. AS OF JUNE 30, 2025 THE VIRGINIA INVESTMENT POOL MANAGED INVESTMENTS FOR A STABLE VALUE FUND AND A HIGH QUALITY BOND FUND WITH NET ASSETS TOTALING 3.91 BILLION.

Program 2

Expenses: $536,214 Revenue: $527,871

PROVIDE ACCOUNTING STAFF SUPPORT TO LOCAL GOVERNMENTS IN ORDER TO PROMOTE TRANSPARENCY AND CONFORMANCE WITH GOVERNMENTAL ACCOUNTING STANDARDS. VLGFC PROVIDED ACCOUNTING SERVICES TO 18 LOCAL...

PROVIDE ACCOUNTING STAFF SUPPORT TO LOCAL GOVERNMENTS IN ORDER TO PROMOTE TRANSPARENCY AND CONFORMANCE WITH GOVERNMENTAL ACCOUNTING STANDARDS. VLGFC PROVIDED ACCOUNTING SERVICES TO 18 LOCAL GOVERNMENTS IN FY25.

Program 3

Expenses: $166,490 Revenue: $166,308

PROVIDE FINANCING-RELATED MUNICIPAL ADVISORY SERVICES IN ORDER TO PROMOTE LOCAL TRANSPARENCY AND SOUND FINANCIAL MANAGEMENT PRACTICES. FINANCING & MUNICIPAL ADVISORY INCLUDES FACILITATING THE...

PROVIDE FINANCING-RELATED MUNICIPAL ADVISORY SERVICES IN ORDER TO PROMOTE LOCAL TRANSPARENCY AND SOUND FINANCIAL MANAGEMENT PRACTICES. FINANCING & MUNICIPAL ADVISORY INCLUDES FACILITATING THE ISSUANCE OF MUNICIPAL NOTES, BANK LOANS, AND EQUIPMENT LEASES FOR PUBLIC PURPOSE EVENTS; AND PROVIDING ADVISORY SERVICES FOR FINANCIAL POLICIES. VLGFC PROVIDED FINANCING & MUNICIPAL ADVISORY SERVICES FOR 11 POLITICAL SUBDIVISIONS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,986,924

Investment Income $20,688

Other Revenue $0

TOTAL REVENUE $3,007,612

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $2,771,779

Other Expenses $3,045,190

TOTAL EXPENSES $3,045,190

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,007,612	$2,608,190	+0.2%
Expenses	$3,045,190	$2,692,827	+0.1%
Net Income	$-37,578	$-84,637	-0.6%

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
GARY G ADKINS	DIRECTOR	1.00	Director	$0	$0	$0
LESLIE BEAUREGARD	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER BELL	DIRECTOR	1.00	Director	$0	$0	$0
MICHELLE GOWDY	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL G HAMP	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA LIGHT	DIRECTOR	1.00	Director	$0	$0	$0
LYNETTE LOWE	DIRECTOR	1.00	Director	$0	$0	$0
DEAN A LYNCH	DIRECTOR	1.00	Director	$0	$0	$0
MIKE MASON	DIRECTOR	1.00	Director	$0	$0	$0
DOUG STANLEY	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
DEBORAH C STURM	PRESIDENT	1.00	Officer Director	$0	$0	$0
ROBERT W LAUTERBERG	MANAGING DIR	36.00	Officer	$0	$0	$0
CHRISTINE L LOPILATO	SECRETARY	36.00	Officer	$0	$0	$0
STEVEN C MULROY	MANAGING DIR	36.00	Officer	$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
2025	$3,007,612	$3,045,190	$1,442,506	$-37,578
2024	$2,608,190	$2,692,827	$1,324,893	$-84,637
2023	$2,367,073	$2,438,740	$1,353,084	$-71,667
2022	$2,466,374	$2,492,203	$1,419,903	$-25,829
2021	$2,754,036	$2,664,353	$1,838,093	$89,683
2019	$2,003,420	$2,045,390	$1,093,551	$-41,970

VIRGINIA LOCAL GOVERNMENT FINANCE CORPORATION