VIRGINIA CHARITABLE BINGO ASSOCIAT… - 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

2009

Legal Domicile

Principal Officer

CHARLES LESSIN

Phone

8042322589

Tax Period

2023-01-01 to 2023-12-31

VIRGINIA CHARITABLE BINGO ASSOCIATION, founded in 2009, is a micro nonprofit in the Community Improvement sector that reported $66K in total revenue in fiscal year 2023. Revenue fell 76% from the prior year — a significant decline worth monitoring. Expenses of $130K exceeded revenue, resulting in a 97% operating deficit.

Mission

TO PROMOTE HIGHER BUSINESS STANDARDS AND BETTER BUSINESS METHODS, TO ENCOURAGE UNIFORMITY AND COOPERATION AMONG CHARITABLE BINGO OPERATORS, AND TO EDUCATE REGARDING ISSUES RELATED TO CHARITABLE BINGO.

Program Service Accomplishments

Program 1

Expenses: $10,000

CONDUCTING MEETINGS THROUGHOUT THE STATE OF VIRGINIA WITH CHARITABLE ORGANIZATIONS WHO CONDUCT CHARITABLE BINGO GAMES TO DISCUSS THE CURRENT RULES AND REGULATIONS OF THE VIRGINIA DEPARTMENT OF...

CONDUCTING MEETINGS THROUGHOUT THE STATE OF VIRGINIA WITH CHARITABLE ORGANIZATIONS WHO CONDUCT CHARITABLE BINGO GAMES TO DISCUSS THE CURRENT RULES AND REGULATIONS OF THE VIRGINIA DEPARTMENT OF CHARITABLE GAMING. THESE MEETINGS SERVE AS A FORUM FOR CHARITABLE ORGANIZATIONS TO BECOME FAMILIAR WITH OTHER CHARITABLE ORGANIZATIONS ACROSS THE STATE WHO ALSO CONDUCT CHARITABLE BINGO TO SHARE IDEAS RELATED TO CHARITABLE GAMING OPERATIONS.

Program 2

Expenses: $118,114

TO EDUCATE MEMBERS OF THE VIRGINIA GENERAL ASSEMBLY REGARDING THE OPINIONS AND ISSUES RELATED TO THE CHARITABLE ORGANIZATION'S CHARITABLE GAMING ACTIVITIES.

Program 3

Expenses: $200

PUBLICATION OF A QUARTERLY NEWSLETTER AS A FOLLOW-UP TO MEETINGS WITH LEGISLATORS AND QUARTERLY MEETINGS WITH CHARITIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $66,100

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $66,100

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $128,314

Other Expenses $130,334

TOTAL EXPENSES $130,334

Year-over-Year Comparison

	2023	2022	Change
Revenue	$66,100	$272,000	-0.8%
Expenses	$130,334	$208,697	-0.4%
Net Income	$-64,234	$63,303	-2.0%

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
CHARLES LESSIN	CHAIRMAN	5.00	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	No data	No data	No data	No data
2023	$66,100	$130,334	$12	$-64,234
2022	$272,000	$208,697	$64,246	$63,303

VIRGINIA CHARITABLE BINGO ASSOCIATION