GLOUCESTER REVOLVING LOAN FUND INC

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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

2012

Legal Domicile

Principal Officer

JOE HEYMAN

Phone

8048249614

Tax Period

2023-01-01 to 2023-12-31

Mission

THE GLOUCESTER REVOLVING LOAN FUND HAS BEEN ESTABLISHED TO PROVIDE PARTIAL FUNDING FOR BUSINESSES AND NON-PROFIT ORGANIZATIONS UNDERTAKING ACTIVITIES BROADLY DEFINED AS ECONOMIC DEVELOPMENT WITHIN THE GLOUCESTER VILLAGE AREA OF GLOUCESTER COUNTY, VIRGINIA, AS DEFINED BY THE ARTICLES OF INCORPORATION OF THE CORPORATION.

Program Service Accomplishments

Program 1

Expenses: $10,169

PROVIDED INTEREST FREE LOANS TO PROMOTE ECONOMIC STABILITY DURING THE PANDEMIC.

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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 $0

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $0

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $10,169

Other Expenses $10,169

TOTAL EXPENSES $10,169

Year-over-Year Comparison

	2023	2022	Change
Revenue	N/A	$251,574	-1.0%
Expenses	$10,169	$33,229	-0.7%
Net Income	N/A	$218,345	N/A

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

N/A

Independent Members

N/A

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
JOE HEYMAN	CHAIRMAN	1.00	Officer	$0	$0	$0
DAVID HUDSON	VICE CHAIRMAN	0.25	Officer	$0	$0	$0
RICHARD WIATT	SECRETARY	0.25	Officer	$0	$0	$0
JOHN WRIGHT	TREASURER	0.25	Officer	$0	$0	$0
BILL BAXTER	BOARD MEMBER	0.25	Officer	$0	$0	$0
DR DAVID BROWN	BOARD MEMBER	0.25	Officer	$0	$0	$0
STEVE CALLIS	BOARD MEMBER	0.25	Officer	$0	$0	$0
NAM VU	BOARD MEMBER	0.25	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
2024	No data	No data	No data	No data
2023	No data	$10,169	$252,500	No data
2022	$251,574	$33,229	$262,669	$218,345
2021	$202,317	$249,790	$869,324	$-47,473
2020	$30,348	$86,481	$916,797	$-56,133
2019	$3,869	$81,154	$917,930	$-77,285
2018	$30,998	$41,953	$995,215	$-10,955