Hampton Roads Shipping Association (EIN 237241557) - 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

1971

Legal Domicile

Phone

7576222639

Tax Period

2023-10-01 to 2024-09-30

Hampton Roads Shipping Association, founded in 1971, is a community nonprofit that reported $8.8M in total revenue in fiscal year 2017. Revenue surged 20% from the prior year, signaling strong growth momentum. Expenses of $8.4M left a modest 5% surplus.

Mission

PORT PROMOTION,LABOR NEGOTIATIONS, SAFETY PROGRAM, AND TRAINING OF WATERFRONT LABOR.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,790,050

Investment Income $1,433,515

Other Revenue $3,866

TOTAL REVENUE $6,227,431

Expense Breakdown

Grants Paid $451,017

Salaries & Benefits $3,386,603

Fundraising Expenses $0

Program Expenses $0

Other Expenses $3,707,836

TOTAL EXPENSES $7,545,456

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,227,431	$7,061,830	-0.1%
Expenses	$7,545,456	$7,447,658	+0.0%
Net Income	$-1,318,025	$-385,828	+2.4%

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

Volunteers

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

$1,349,210

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Erin Maley	Treasurer	1.0	Officer Director	$0	$0	$0
James Ford	First Vice President	1.0	Officer Director	$0	$0	$0
Jim Michalski	Chair of the Board	1.0	Officer Director	$0	$0	$0
Joseph Ruddy	Second Vice President	1.0	Officer Director	$0	$0	$0
Peter Cooke	Immediate Past Chairman	1.0	Officer Director	$0	$0	$0
Brian Jeffreys	Director	1.0	Director	$0	$0	$0
Joe Diaz	Director	1.0	Director	$0	$0	$0
Kyle Bassham	Director	1.0	Director	$0	$0	$0
Michael Coleman	Direcor	1.0	Director	$0	$0	$0
Mike Abbott	Director	1.0	Director	$0	$0	$0
Rolf Williams	Director	1.0	Director	$0	$0	$0
Tim Zimmerly	Director	1.0	Director	$0	$0	$0
Vance Griffin	Director	1.0	Director	$0	$0	$0
Vince Marino	Director	1.0	Director	$0	$0	$0
Zach Clark	Director	1.0	Director	$0	$0	$0
David White	Secretary/Exec. VP	0.0	Officer	$0	$12,033	$391,586
Jeremy Bridges	President	40.0	Officer	$302,476	$3,594	$306,070
Roger Giesinger	President Emeritus	40.0	Officer	$591,554	$60,000	$651,554
Mick Drevyanko	Director of IT	0.0	Highest	$0	$8,903	$202,081
Vernon Davis	VP Finance & Adm	0.0	Highest	$0	$30,000	$264,210
Will Fediw	VP Industry & Govt Affairs	0.0	Highest	$0	$8,764	$211,883

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	$6,227,431	$7,545,456	$33,206,800	$-1,318,025
2023	$7,061,830	$7,447,658	$28,785,361	$-385,828
2022	$6,707,142	$6,927,393	$28,854,084	$-220,251
2021	$8,322,870	$6,398,297	$34,185,885	$1,924,573
2020	$2,980,206	$5,997,793	$32,200,009	$-3,017,587
2019	$9,827,715	$8,697,758	$31,230,859	$1,129,957
2018	$8,797,794	$8,383,918	$31,661,612	$413,876

Hampton Roads Shipping Association