Virginia Beach Billfish Foundation (EIN 275040479) - 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

PAULA DAVIS

Phone

7576528409

Tax Period

2023-01-01 to 2023-12-31

Virginia Beach Billfish Foundation, founded in 2010, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $961K in total revenue in fiscal year 2018. Revenue surged 28% from the prior year, signaling strong growth momentum. The organization ran a surplus of $166K, a strong 17% operating margin.

Mission

TO ENGAGE IN THE PROMOTION OF EDUCATIONAL SCIENTIFIC, AND CHARITABLE PURPOSES PERMITTED BY LAW, FACILITATED THROUGH A FISHING TOURNAMENT.

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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 $268,970

Program Service Revenue $1,124,535

Investment Income $28

Other Revenue $-295,912

TOTAL REVENUE $1,097,621

Expense Breakdown

Grants Paid $113,000

Salaries & Benefits $51,693

Fundraising Expenses $56,800

Program Expenses $1,045,745

Other Expenses $976,270

TOTAL EXPENSES $1,140,963

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,097,621	$1,025,525	+0.1%
Expenses	$1,140,963	$1,060,928	+0.1%
Net Income	$-43,342	$-35,403	+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

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

$25,000

Total Directors

$25,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAULA DAVIS	EXECUTIVE DIRECTOR	40.0	Officer Director	$25,000	$0	$25,000
EARLE HALL	CHARIMAN OF THE BOARD	0.0	Officer Director	$0	$0	$0
CHARLES BARKER	TRUSTEE	0.0	Director	$0	$0	$0
CHRIS PERRY	TRUSTEE	0.0	Director	$0	$0	$0
JUD BLACK	TRUSTEE	0.0	Director	$0	$0	$0
DENNIS DEANS	SECRETARY/TREASURER	0.0	Officer Director	$0	$0	$0
MICHAEL ATKINSON	TRUSTEE	0.0	Director	$0	$0	$0
THOMAS BAYNE	TRUSTEE	0.0	Director	$0	$0	$0
BRAD WACHOWIAK	TRUSTEE	0.0	Director	$0	$0	$0
MICHAEL STANDING	TRUSTEE	0.0	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	$1,097,621	$1,140,963	$74,946	$-43,342
2022	$1,025,525	$1,060,928	$118,288	$-35,403
2021	$1,024,079	$1,061,967	$153,842	$-37,888
2020	$897,469	$960,571	$192,125	$-63,102
2019	$880,082	$897,557	$254,681	$-17,475
2018	$961,432	$795,595	$272,156	$165,837

Virginia Beach Billfish Foundation