Virginia Maritime Association (EIN 540238120) - 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

1920

Legal Domicile

Phone

7576222639

Tax Period

2023-10-01 to 2024-09-30

Virginia Maritime Association, founded in 1920, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2017. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $1.5M exceeded revenue, resulting in a 13% operating deficit.

Mission

Promote, protect, and encourage the interests of the commercial shipping in the ports of Virginia.

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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 $116,202

Program Service Revenue $1,005,724

Investment Income $20,881

Other Revenue $1,623,971

TOTAL REVENUE $2,766,778

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,162,184

Fundraising Expenses $295,405

Program Expenses $0

Other Expenses $1,138,323

TOTAL EXPENSES $3,300,507

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,766,778	$2,490,508	+0.1%
Expenses	$3,300,507	$2,356,914	+0.4%
Net Income	$-533,729	$133,594	-5.0%

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

$391,586

Total Directors

$651,554

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Camille Cherry	Treasurer	1.0	Officer Director	$0	$0	$0
Capt Kenneth Flowers	Vice Presidents	1.0	Officer Director	$0	$0	$0
Capt Whiting Chisman	Vice Presidents	1.0	Officer Director	$0	$0	$0
Judy Barrett	President	1.0	Officer Director	$0	$0	$0
Lang Williams	Vice Presidents	1.0	Officer Director	$0	$0	$0
Michael Coleman	Chairman	1.0	Officer Director	$0	$0	$0
Tracy Gregorio	Assistant Treasurer	1.0	Officer Director	$0	$0	$0
Aaron Anseeuw	Director	1.0	Director	$0	$0	$0
Amanda Robinson	Director	1.0	Director	$0	$0	$0
Andrew Sinclair	Director	1.0	Director	$0	$0	$0
Arketa Howard	Director	1.0	Director	$0	$0	$0
Brian Jeffreys	Director	1.0	Director	$0	$0	$0
Cameron Peel	Director	1.0	Director	$0	$0	$0
Capt Hugh McCrory	Director	1.0	Director	$0	$0	$0
Clyde Clark	Director	1.0	Director	$0	$0	$0
Commander Elspeth McMahon	Director	1.0	Director	$0	$0	$0
Dana Truxell	Director	1.0	Director	$0	$0	$0
Deborah Gholson	Director	1.0	Director	$0	$0	$0
Devon Anders	Director	1.0	Director	$0	$0	$0
George Adams	Director	1.0	Director	$0	$0	$0
George Lyon	Director	1.0	Director	$0	$0	$0
Jay Prock	Director	1.0	Director	$0	$0	$0
Jim Ford	Director	1.0	Director	$0	$0	$0
Kelsey Host Sarcone	Director	1.0	Director	$0	$0	$0
Kevin Carroll	Director	1.0	Director	$0	$0	$0
Kimberly Clark	Director	1.0	Director	$0	$0	$0
Marissa Henderson	Director	1.0	Director	$0	$0	$0
Mark Coberly	Director	1.0	Director	$0	$0	$0
Paul Hill	Director	1.0	Director	$0	$0	$0
Randy Bayles	Director	1.0	Director	$0	$0	$0
Richard Darrick Lemaster	Director	1.0	Director	$0	$0	$0
Rob Cannizzaro	Director	1.0	Director	$0	$0	$0
Roger Giesinger	Director	N/A	Director	$0	$60,000	$651,554
Ryan Turman	Director	1.0	Director	$0	$0	$0
Scott Wheeler	Director	1.0	Director	$0	$0	$0
Steve Sloan	Director	1.0	Director	$0	$0	$0
Tommy White	Director	1.0	Director	$0	$0	$0
Trevor Dunlap	Director	1.0	Director	$0	$0	$0
Vance Hull	Director	1.0	Director	$0	$0	$0
William Russell	Director	1.0	Director	$0	$0	$0
David White	Secretary	40.0	Officer	$379,553	$12,033	$391,586
Mick Drevyanko	Director of IT	38.0	Highest	$193,178	$8,903	$202,081
Vernon Davis	VP Finance & Adm	40.0	Highest	$234,210	$30,000	$264,210
Will Fediw	VP Industry & Govt Affairs	40.0	Highest	$203,119	$8,764	$211,883

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	$2,766,778	$3,300,507	$2,658,422	$-533,729
2023	$2,490,508	$2,356,914	$2,732,109	$133,594
2022	$2,423,439	$2,147,688	$2,447,151	$275,751
2021	$2,548,472	$2,233,821	$2,448,779	$314,651
2020	$1,114,259	$1,548,571	$2,537,859	$-434,312
2019	$1,215,093	$1,369,075	$2,260,137	$-153,982
2018	$1,337,871	$1,507,975	$1,261,252	$-170,104

Virginia Maritime Association