RETAIL MERCHANTS ASSOCIATION OF TI… - Form 990 Financial Data

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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

1903

Legal Domicile

Principal Officer

JENNIFER E CRITTENDEN

Phone

7574661600

Tax Period

2023-01-01 to 2023-12-31

RETAIL MERCHANTS ASSOCIATION OF TIDEWATER VIRGINIA INC, founded in 1903, is a small nonprofit in the Community Improvement sector that reported $901K in total revenue in fiscal year 2023. Revenue surged 505% from the prior year, signaling strong growth momentum. Expenses of $1.7M exceeded revenue, resulting in a 92% operating deficit.

Mission

TO ASSIST IN REFORMING TRADE ISSUES; TO CULTIVATE A FEELING OF FRATERNITY AMONG COMPETITIVE BUSINESS ESTABLISHMENTS; TO ASSIST IN FURTHER DIGNIFYING THE RETAIL INDUSTRY AND ENHANCING ITS COMMUNITY PRESTIGE; TO PROMOTE THE EXPANSION OF VIRGINIA'S RETAIL INDUSTRY; TO TAKE AN ACTIVE AND ENERGETIC INTEREST IN ALL ADMINISTRATIVE AFFAIRS OF OUR NATIONAL, STATE AND LOCAL GOVERNMENTS; TO ASSIST IN THE FURTHERANCE OF SUCH AIMS, OBJECTS AND PURPOSES, AS IN THE DISCRETION OF THE BOARD OF DIRECTORS MAY AT ANY TIME DEEMED ADVISABLE AND LEGITIMATE FOR THE BEST INTERESTS OF THE RETAIL COMMUNITY AND THE MEMBERS OF THIS CORPORATION.

Program Service Accomplishments

Program 1

CONDUCTED ADVOCACY AND GRASSROOTS COMMUNICATIONS EFFORTS REGARDING ISSUES OF IMPORTANCE TO MEMBERS (LARCENY THRESHOLDS, SALES TAX ABSORPTION, ETC) THROUGH ORIENTATION SESSIONS, PRESENTATIONS, WRITTEN DOCUMENTATION (NEWSLETTERS, ETC) AND CONDUCTED SURVEYS ON SALIENT ISSUES. THIS EFFORT WAS FOR THE BENEFIT OF ALL 331 MEMBERS, OF WHICH APPROXIMATELY 331 ACTIVELY PARTICIPATED.

Program 2

CONDUCTED 5 NETWORKING EVENTS FOR MEMBERS TO FRATERNIZE WITH PEERS AND SHARE INFORMATION, 7 EDUCATIONAL MEETINGS FOR MEMBERS, AND 1 LEGISLATIVE FORUM WITH MEMBERS.

Program 3

ACTIVELY PRESENTED INFORMATION ON THE RETAIL INDUSTRY, BEST PRACTICES AND MEMBER INITIATIVES TO MEMBERS AND OTHERS IN THE FORM OF A WEEKLY E-NEWSLETTER.

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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 $552,919

Investment Income $348,541

Other Revenue $0

TOTAL REVENUE $901,460

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,012,646

Fundraising Expenses $0

Other Expenses $721,344

TOTAL EXPENSES $1,733,990

Year-over-Year Comparison

	2023	2022	Change
Revenue	$901,460	$148,924	+5.1%
Expenses	$1,733,990	$1,582,730	+0.1%
Net Income	$-832,530	$-1,433,806	-0.4%

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

$264,378

Total Directors

$484,756

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RAYMOND J MATTES III	DIRECTOR EMERITUS	40.00	Director	$196,733	$23,645	$220,378
ROBERT GURNEE	CHAIRMAN OF THE BOARD	0.50	Director	$0	$0	$0
MICHAEL J BENTON	DIRECTOR	0.50	Director	$0	$0	$0
PAMELA KATRANCHA	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT R HARPER JR	VICE CHAIRMAN OF THE BOARD	0.50	Officer Director	$0	$0	$0
BRYAN SALERNO	DIRECTOR	0.50	Director	$0	$0	$0
CHRIS SHELTON	DIRECTOR	0.50	Director	$0	$0	$0
JASON GRAVES	DIRECTOR	0.50	Director	$0	$0	$0
CARLYLE BLAND	DIRECTOR	0.50	Director	$0	$0	$0
JOSEPH TAYLOR	DIRECTOR	0.50	Director	$0	$0	$0
PHILIP M SCOTTI	IMMEDIATE PAST CHAIRMAN OF THE BOARD	0.50	Director	$0	$0	$0
SARAH PISHKO	DIRECTOR	0.50	Director	$0	$0	$0
BEN J WILLIS III	DIRECTOR	0.50	Director	$0	$0	$0
LORI JANKE	DIRECTOR	0.50	Director	$0	$0	$0
JAMES M WOFFORD	DIRECTOR	0.50	Director	$0	$0	$0
DENISE CLARKE	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER E CRITTENDEN	PRESIDENT /CEO	40.00	Officer Director	$180,410	$5,323	$185,733
KATHY KNACK	DIRECTOR	0.50	Director	$0	$0	$0
BROCK POTTER	DIRECTOR	0.50	Director	$0	$0	$0
CHRIS LEIGH	DIRECTOR	0.50	Director	$0	$0	$0
NANCY WARE	DIRECTOR	0.50	Director	$0	$0	$0
CHAVA LIND	SECRETARY	40.00	Officer Director	$27,377	$329	$27,706
RHONDA ZENTKOVICH	SECRETARY	40.00	Officer Director	$48,815	$2,124	$50,939
KISHA MOORE	DIRECTOR	0.50	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	$901,460	$1,733,990	$24,587,915	$-832,530
2022	$148,924	$1,582,730	$23,043,987	$-1,433,806
2021	$2,758,596	$1,426,151	$29,197,147	$1,332,445
2020	$1,459,453	$1,542,277	$27,432,798	$-82,824
2019	$1,532,837	$1,448,279	$25,848,320	$84,558
2018	$1,134,988	$1,584,589	$22,841,994	$-449,601

RETAIL MERCHANTS ASSOCIATION OF TIDEWATER VIRGINIA INC