VMI KEYDET CLUB

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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

1973

Legal Domicile

Principal Officer

CRISSY S ELLIOTT

Phone

5404647383

Tax Period

2023-07-01 to 2024-06-30

VMI KEYDET CLUB, founded in 1973, is a community nonprofit in the Education sector that reported $8.2M in total revenue in fiscal year 2023. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $10.7M exceeded revenue, resulting in a 30% operating deficit.

Mission

THE MISSION OF VMI KEYDET CLUB IS TO SUPPORT, STRENGTHEN, AND DEVELOP THE INTERCOLLEGIATE ATHLETIC PROGRAM AT VIRGINIA MILITARY INSTITUTE.

Program Service Accomplishments

Program 1

Expenses: $10,071,547 Revenue: $0

ATHLETIC SCHOLARSHIPS AND SUPPORT OF VIRGINIA MILITARY INSTITUTE.

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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 $5,998,339

Program Service Revenue $0

Investment Income $2,201,901

Other Revenue $4,834

TOTAL REVENUE $8,205,074

Expense Breakdown

Grants Paid $9,932,048

Salaries & Benefits $228,104

Fundraising Expenses $260,546

Program Expenses $10,071,547

Other Expenses $494,389

TOTAL EXPENSES $10,654,541

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,205,074	$12,099,526	-0.3%
Expenses	$10,654,541	$8,223,057	+0.3%
Net Income	$-2,449,467	$3,876,469	-1.6%

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

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

$757,005

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR DANIEL P THORNTON	PRESIDENT	2.00	Director	$0	$0	$0
DR BLAND MASSIE JR	IMMEDIATE PAST PRESIDENT	2.00	Director	$0	$0	$0
MR FRANCIS R BOEHLING	BOARD MEMBER	2.00	Director	$0	$0	$0
MR JULIAN J BOWERS	BOARD MEMBER	2.00	Director	$0	$0	$0
MR ROBERT R CHAPMAN III	BOARD MEMBER	2.00	Director	$0	$0	$0
MR RALPH L COSTEN JR	BOARD MEMBER	2.00	Director	$0	$0	$0
MR MATTHEW F DANIEL	BOARD MEMBER	2.00	Director	$0	$0	$0
MR DUSTIN H DEVORE	BOARD MEMBER	2.00	Director	$0	$0	$0
LT COL R PEEL DILLARD	BOARD MEMBER	2.00	Director	$0	$0	$0
MR JOHN D DODGE II	BOARD MEMBER	2.00	Director	$0	$0	$0
MR KEITH B GABRIEL	BOARD MEMBER	2.00	Director	$0	$0	$0
MR STEPHEN E HUPP SR	BOARD MEMBER	2.00	Director	$0	$0	$0
MR JEREMY W INGRAM	BOARD MEMBER	2.00	Director	$0	$0	$0
MR CARSON C IRVINE	BOARD MEMBER	2.00	Director	$0	$0	$0
MS SIMONE R JIMENEZ	BOARD MEMBER	2.00	Director	$0	$0	$0
MR MICHAEL B KEMP	BOARD MEMBER	2.00	Director	$0	$0	$0
MR JOSEPH W KEYES JR	BOARD MEMBER	2.00	Director	$0	$0	$0
MR J COLEMAN LAWRENCE	BOARD MEMBER	2.00	Director	$0	$0	$0
MR PABLO A MARTINEZ	BOARD MEMBER	2.00	Director	$0	$0	$0
MR GRAHAM A NUTTYCOMBE	BOARD MEMBER	2.00	Director	$0	$0	$0
MR LEZSHELL A PAULING	BOARD MEMBER	2.00	Director	$0	$0	$0
MR C LEWIS REYNOLDS JR	BOARD MEMBER	2.00	Director	$0	$0	$0
MR ERIK S SIEBERT	BOARD MEMBER	2.00	Director	$0	$0	$0
MR KELLY M SWEPPENHISER	BOARD MEMBER	2.00	Director	$0	$0	$0
MR WILLIAM H TALLEY V	BOARD MEMBER	2.00	Director	$0	$0	$0
MR ANDRE W THORNTON	BOARD MEMBER	2.00	Director	$0	$0	$0
MR GORDON E WILLIAMS	BOARD MEMBER	2.00	Director	$0	$0	$0
DAVID L PRASNICKI	CHIEF EXECUTIVE OFFICER	2.00	Officer	$0	$15,400	$293,412
CRISSY S ELLIOTT	CHIEF FINANCIAL OFFICER	2.00	Officer	$0	$34,045	$212,684
ANDREW C DEAL	CHIEF OPERATING OFFICER	40.00	Officer	$135,779	$18,400	$154,179
KEVIN A RYAN	FINANCIAL CONTROLLER	2.00	Officer	$0	$6,313	$96,730

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
2025	No data	No data	No data	No data
2024	$8,205,074	$10,654,541	$111,868,702	$-2,449,467
2023	$12,099,526	$8,223,057	$105,473,521	$3,876,469
2022	$9,549,405	$7,652,181	$95,483,413	$1,897,224
2021	$7,186,190	$6,713,305	$97,881,699	$472,885
2020	$7,631,712	$5,525,903	$71,679,006	$2,105,809
2019	$4,833,392	$5,892,470	$70,161,376	$-1,059,078