GREATER RICHMOND AQUATICS PARTNERSHIP (EIN 274185518) - 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

2010

Legal Domicile

Principal Officer

PAUL EDELMAN

Phone

8043404065

Tax Period

2023-08-01 to 2024-07-31

GREATER RICHMOND AQUATICS PARTNERSH, founded in 2010, is a community nonprofit in the Recreation & Sports sector that reported $2.7M in total revenue in fiscal year 2017. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $3.3M exceeded revenue, resulting in a 18% operating deficit.

Mission

GREATER RICHMOND AQUATICS PARTNERSHIP CHANGED ITS TRADE NAME TO SWIMRVA IN 2014. THE MISSION OF SWIMRVA (GRAP) IS TO SERVE AS A CATALYST FOR WATER SAFETY, HEALTH AND FITNESS, SPORTS TOURISM, COMPETITIVE AQUATICS, AND POSSIBILITY, FOR ALL RICHMONDERS. SWIMRVA IS BUILDING SOCIAL BRIDGES THROUGH AQUATICS THAT CROSS PHYSICAL, RACIAL, AND ECONOMIC BARRIERS. SWIMRVA IS WORKING TO CHANGE THE COURSE OF HUMAN HISTORY AS IT RELATES TO AQUATICS IN THE RICHMOND REGION BY FOCUSING ON UNDER-SERVED COMMUNITIES. 70 PERCENT OF AFRICAN AMERICAN CHILDREN DO NOT LEARN HOW TO SWIM AND A STAGGERING 50% OF THE POPULATION IN THE UNITED STATES DOES NOT KNOW HOW TO SWIM. 79 PERCENT OF CHILDREN FROM HOUSEHOLDS WITH INCOME BELOW 50,000 DO NOT LEARN HOW TO SWIM AND DROWNING IS THE SECOND LEADING CAUSE OF ACCIDENTAL DEATH FOR ALL CHILDREN. SWIMRVA IS WORKING TO STOP THE CYCLE OF NON-SWIMMING GIVING RICHMOND RESIDENTS AN AVENUE FOR HEALTH EQUITY IN ALL CORNERS OF THE OUR REGION.

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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 $2,430,446

Program Service Revenue $4,426,698

Investment Income $-2,860

Other Revenue $105,353

TOTAL REVENUE $6,959,637

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,300,122

Fundraising Expenses $330,910

Program Expenses $5,596,694

Other Expenses $3,014,539

TOTAL EXPENSES $6,314,661

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,959,637	$6,146,466	+0.1%
Expenses	$6,314,661	$6,049,630	+0.0%
Net Income	$644,976	$96,836	+5.7%

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

285

Volunteers

500

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

$190,631

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BOBBY UKROP	CHAIR	10.00	Officer Director	$0	$0	$0
PAUL EDELMAN	TREASURER	5.00	Officer	$0	$0	$0
ADAM KENNEDY	EXECUTIVE DI	50.00	Officer	$177,769	$12,862	$190,631
AMY CALOS	DIRECTOR	3.00	Director	$0	$0	$0
ERICA BURGESS	DIRECTOR	3.00	Director	$0	$0	$0
MOLLY BITTNER	DIRECTOR	3.00	Director	$0	$0	$0
ADRIENNE COLE	DIRECTOR	3.00	Director	$0	$0	$0
WILL DIXON	DIRECTOR	3.00	Director	$0	$0	$0
MARTHA FRICKERT	DIRECTOR	3.00	Director	$0	$0	$0
MIKE GILL	DIRECTOR	3.00	Director	$0	$0	$0
JR HIPPLE	DIRECTOR	3.00	Director	$0	$0	$0
JIM HOLLAND	DIRECTOR	3.00	Director	$0	$0	$0
BOB KELLEY	DIRECTOR	3.00	Director	$0	$0	$0
MICHAEL LAMING	DIRECTOR	3.00	Director	$0	$0	$0
TED LANSING	DIRECTOR	3.00	Director	$0	$0	$0
KAREN STEPHENS	DIRECTOR	3.00	Director	$0	$0	$0
JAY SWEDENBORG	DIRECTOR	3.00	Director	$0	$0	$0
ROB UKROP	DIRECTOR	3.00	Director	$0	$0	$0
GARRETT WREN	DIRECTOR	3.00	Director	$0	$0	$0
GRAHAM WATSON	DIRECTOR	3.00	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	$6,959,637	$6,314,661	$13,070,804	$644,976
2023	$6,146,466	$6,049,630	$12,520,543	$96,836
2022	$4,325,016	$4,879,351	$11,933,232	$-554,335
2021	$3,767,047	$4,099,828	$12,359,934	$-332,781
2020	$3,626,230	$3,624,424	$12,589,125	$1,806
2019	$2,967,815	$3,848,350	$12,306,490	$-880,535
2018	$2,745,703	$3,252,674	$12,561,351	$-506,971

GREATER RICHMOND AQUATICS PARTNERSHIP