RETAIL MERCHANTS ASSOCIATION

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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

1906

Legal Domicile

Principal Officer

NANCY THOMAS

Phone

8046625500

Tax Period

2025-01-01 to 2025-12-31

RETAIL MERCHANTS ASSOCIATION, founded in 1906, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2025. Revenue surged 52% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.0M, a strong 48% operating margin.

Mission

TO ENCOURAGE, STIMULATE, EXTEND, AND PROMOTE ALL LOCALLY OWNED INDEPENDENT BUSINESSES IN CENTRAL VIRGINIA.

Program Service Accomplishments

Program 1

PROMOTED THE RETAIL INDUSTRY IN THE CENTRAL VIRGINIA AREA THROUGH REPRESENTATION BEFORE LOCAL AND STATE GOVERNMENT ON BEHALF OF RETAIL AND SERVICE BUSINESS ISSUES, EDUCATIONAL PROGRAMS FOR MEMBERS...

PROMOTED THE RETAIL INDUSTRY IN THE CENTRAL VIRGINIA AREA THROUGH REPRESENTATION BEFORE LOCAL AND STATE GOVERNMENT ON BEHALF OF RETAIL AND SERVICE BUSINESS ISSUES, EDUCATIONAL PROGRAMS FOR MEMBERS AND THEIR EMPLOYEES, DEVELOPMENT OF SERVICES TO ASSIST MEMBERS, AND PROVIDING NETWORKING OPPORTUNITIES.

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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 (2025)

Revenue Breakdown

Contributions & Grants $5,415

Program Service Revenue $173,191

Investment Income $1,920,328

Other Revenue $39,000

TOTAL REVENUE $2,137,934

Expense Breakdown

Grants Paid $0

Salaries & Benefits $562,237

Fundraising Expenses $0

Other Expenses $559,008

TOTAL EXPENSES $1,121,245

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,137,934	$1,409,599	+0.5%
Expenses	$1,121,245	$1,203,178	-0.1%
Net Income	$1,016,689	$206,421	+3.9%

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

$324,196

Total Directors

$212,279

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOLINDA ANDERSON	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT ARONSON	DIRECTOR	2.00	Director	$0	$0	$0
DOROTHYE BRODERSEN	DIRECTOR	2.00	Director	$0	$0	$0
CATHERINE CARY	DIRECTOR	2.00	Director	$0	$0	$0
DANIELLE FITZ-HUGH	DIRECTOR	2.00	Director	$0	$0	$0
MELISSA GREENFIELD	DIRECTOR	2.00	Director	$0	$0	$0
LESTER JOHNSON	DIRECTOR	2.00	Director	$0	$0	$0
LISA MCSHERRY	DIRECTOR	2.00	Director	$0	$0	$0
AARON MONTGOMERY	DIRECTOR	2.00	Director	$0	$0	$0
LUCY O'SHIELDS	DIRECTOR	2.00	Director	$0	$0	$0
SARAH PAXTON	DIRECTOR	2.00	Director	$0	$0	$0
SALLY RADERER	DIRECTOR	2.00	Director	$0	$0	$0
STEVE ROSSER	DIRECTOR	2.00	Director	$0	$0	$0
MEGAN SCHULTZ	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL SIEWERS	DIRECTOR	2.00	Director	$0	$0	$0
DUNCAN THOMAS	DIRECTOR	2.00	Director	$0	$0	$0
KEVIN REARDON	CHAIR	5.00	Officer Director	$0	$0	$0
PATRICK HEANEY	VICE CHAIR	2.00	Officer Director	$0	$0	$0
NANCY THOMAS	CEO/PRESIDENT/SECRETARY/TREASURER	40.00	Officer Director	$195,256	$17,023	$212,279
DIANA MCMAHON	VICE PRESIDENT	40.00	Officer	$102,018	$9,899	$111,917

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	$2,137,934	$1,121,245	$26,176,064	$1,016,689
2024	$1,409,599	$1,203,178	$23,229,718	$206,421
2023	$2,147,870	$1,189,706	$22,106,536	$958,164
2022	$-4,175,501	$1,035,809	$20,537,693	$-5,211,310
2021	$3,731,031	$1,266,906	$25,337,771	$2,464,125
2020	$818,223	$1,226,557	$22,079,708	$-408,334
2019	$894,312	$1,196,713	$20,157,050	$-302,401
2018	$1,630,254	$1,166,814	$17,491,720	$463,440