Virginia Law Foundation

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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

1974

Legal Domicile

Phone

4349510061

Tax Period

2024-01-01 to 2024-12-31

Virginia Law Foundation, founded in 1974, is a community nonprofit in the Crime & Legal sector that reported $6.4M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Net assets of $23.3M represent 44 months of operating reserves.

Mission

VIRGINIA LAW FOUNDATION'S MISSION IS TO PROMOTE THROUGH PHILANTHROPY THE RULE OF LAW, ACCESS TO JUSTICE AND LAW RELATED EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $4,427,014 Revenue: $4,879,883

THE VIRGINIA LAW FOUNDATION MADE GRANTS IN SUPPORT OF PROJECTS THAT (1) PROVIDE SERVICES TO IMPROVE THE ADMINISTRATION OF JUSTICE; (2) PROVIDE LAW-RELATED EDUCATION; (3) PROMOTE UNDERSTANDING OF THE RULE OF LAW IN VIRGINIA; (4) PROVIDE LEGAL SERVICES TO THE UNDERSERVED; AND (5) PROVIDE PUBLIC SERVICE INTERNSHIPS FOR VIRGINIA LAW STUDENTS. SEE DESCRIPTIONS ON SCHEDULE O:

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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 (2024)

Revenue Breakdown

Contributions & Grants $148,432

Program Service Revenue $4,599,700

Investment Income $1,372,384

Other Revenue $280,183

TOTAL REVENUE $6,400,699

Expense Breakdown

Grants Paid $714,200

Salaries & Benefits $3,642,415

Fundraising Expenses $49,780

Program Expenses $4,427,014

Other Expenses $2,669,904

TOTAL EXPENSES $7,026,519

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,400,699	$5,684,149	+0.1%
Expenses	$7,026,519	$6,879,008	+0.0%
Net Income	$-625,820	$-1,194,859	-0.5%

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

469

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

$639,687

Total Directors

$146,864

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
COLLEEN M QUINN	PRESIDENT	10.0	Officer Director	$0	$0	$0
DAVID J GOGAL	VICE-PRESIDENT	10.0	Officer Director	$0	$0	$0
HON JANE MARUM ROUSH	IMMEDIATE PAST PRESIDENT	2.0	Officer Director	$0	$0	$0
STEPHEN E NOONA	PRESIDENT- ELECT	10.0	Officer Director	$0	$0	$0
TERESA L MOORE	SECRETARY	40.0	Officer Director	$117,072	$29,792	$146,864
ALAN S ANDERSON	DIRECTOR	2.0	Director	$0	$0	$0
BARBARA JOYNES	DIRECTOR	2.0	Director	$0	$0	$0
CAROLE H CAPSALIS	DIRECTOR	2.0	Director	$0	$0	$0
CYNTHIA E HUDSON	DIRECTOR	2.0	Director	$0	$0	$0
DARIUS DAVENPORT	DIRECTOR	2.0	Director	$0	$0	$0
DARREL TILLAR MASON	DIRECTOR	2.0	Director	$0	$0	$0
EDWARD WEINER	DIRECTOR	2.0	Director	$0	$0	$0
FARNAZ F THOMPSON	DIRECTOR	2.0	Director	$0	$0	$0
HENRY L CHAMBERS JR	DIRECTOR	2.0	Director	$0	$0	$0
HENRY N WARE JR	DIRECTOR	2.0	Director	$0	$0	$0
J LEE E OSBORNE	DIRECTOR	2.0	Director	$0	$0	$0
JEFFERY B HASSLER	DIRECTOR	2.0	Director	$0	$0	$0
MARGARET A NELSON	DIRECTOR	2.0	Director	$0	$0	$0
ROBERT F REDMOND	DIRECTOR	2.0	Director	$0	$0	$0
ROSCOE C ROBERTS	DIRECTOR	2.0	Director	$0	$0	$0
STEPHEN D OTERO	DIRECTOR	2.0	Director	$0	$0	$0
THEOPHANI STAMOS	DIRECTOR	2.0	Director	$0	$0	$0
THOMAS M WOLF	DIRECTOR	2.0	Director	$0	$0	$0
MARCY JARRY	Sr. Director of Finance / TREASURER	40.0	Officer	$58,864	$0	$58,864
RAYMOND WHITE	EXECUTIVE DIRECTOR	40.0	Officer	$273,394	$36,693	$310,087
STACIE M MERRIAM	TREASURER	40.0	Officer	$110,102	$13,770	$123,872
CHRISTINE REILLY	SENIOR PUBLICATIONS ATTORNEY	40.0	Highest	$108,055	$16,717	$124,772
KATIE ARATA	Sr Director of Dev and Philanthropy	40.0	Highest	$111,598	$16,630	$128,228
TANYA MORRIS	EXEC ASSISTANT/DIR. OF SEMINARS	40.0	Highest	$109,478	$17,336	$126,814

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	$6,400,699	$7,026,519	$25,183,987	$-625,820
2023	$5,684,149	$6,879,008	$24,660,606	$-1,194,859
2022	$4,087,286	$6,261,430	$24,242,933	$-2,174,144
2021	$10,719,064	$5,647,864	$27,017,346	$5,071,200
2020	$6,149,558	$5,334,071	$24,408,486	$815,487
2019	$6,573,189	$6,452,707	$22,006,215	$120,482
2018	$6,374,164	$5,977,660	$19,773,850	$396,504