VIRGINIA BANKERS 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

1942

Legal Domicile

Principal Officer

STACY PUCKETT

Phone

8046437469

Tax Period

2024-01-01 to 2024-12-31

VIRGINIA BANKERS ASSOCIATION, founded in 1942, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2024. The organization ran a surplus of $515K, a strong 25% operating margin.

Mission

THE MISSION OF THE VBA IS TO ENHANCE BANKING'S ABILITY TO COMPETE EFFECTIVELY AND PROFITABLY IN THE MARKETPLACE.

Program Service Accomplishments

Program 1

VBA PROTECTS THE INTERESTS OF COMMERCIAL AND SAVINGS BANKS IN VIRGINIA AND PROVIDES CONTINUING EDUCATION FOR MEMBERS.

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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 $0

Program Service Revenue $1,443,693

Investment Income $35,913

Other Revenue $578,185

TOTAL REVENUE $2,057,791

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,100,559

Fundraising Expenses $0

Other Expenses $442,164

TOTAL EXPENSES $1,542,723

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,057,791	$2,052,435	+0.0%
Expenses	$1,542,723	$1,356,544	+0.1%
Net Income	$515,068	$695,891	-0.3%

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

$1,647,634

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VICTOR K BRANCH	CHAIRMAN	1.00	Officer Director	$0	$0	$0
THOMAS F CHERRY	CHAIRMAN ELECT	1.00	Officer Director	$0	$0	$0
LITZ H VAN DYKE	IMMEDIATE PAST CHAIRMAN	1.00	Officer Director	$0	$0	$0
JAMES R BLACK	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID P BOYLE	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN J BROUGH	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRISTOPHER W BERGSTROM	BOARD MEMBER	1.00	Director	$0	$0	$0
STEVEN A DELUCA	BOARD MEMBER	1.00	Director	$0	$0	$0
AUBREY H HALL III	BOARD MEMBER	1.00	Director	$0	$0	$0
SCOTT C HARVARD	BOARD MEMBER	1.00	Director	$0	$0	$0
G LYN HAYTH III	BOARD MEMBER	1.00	Director	$0	$0	$0
THOMAS L RANSOM	BOARD MEMBER	1.00	Director	$0	$0	$0
SHANE MCLAUGHLIN	BOARD MEMBER	1.00	Director	$0	$0	$0
W MARK NELSON	BOARD MEMBER	1.00	Director	$0	$0	$0
SHERRI A SACKETT	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT F SHUFORD JR	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN K SKINNER	BOARD MEMBER	1.00	Director	$0	$0	$0
MARIA P TEDESCO	BOARD MEMBER	1.00	Director	$0	$0	$0
JOSEPH J THOMAS	BOARD MEMBER	1.00	Director	$0	$0	$0
JANET N TOPE	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT C WOOD JR	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN R CALDWELL	CHAIRMAN VBA BENEFITS CORP	1.00	Director	$0	$0	$0
GARY R SHOOK	CHAIRMAN VBA EDUCATION FOUNDATION	1.00	Director	$0	$0	$0
DENNIS A DYSART	CHAIRMAN VBA MANAGEMENT SERVICES	1.00	Director	$0	$0	$0
BRANDON C LOREY	CHAIRMAN GOVT RELATIONS	1.00	Director	$0	$0	$0
BRUCE WHITEHURST	PRESIDENT & CEO	24.00	Officer	$400,172	$137,440	$804,394
MATTHEW BRUNING	EXECUTIVE VP	28.00	Officer	$159,116	$35,341	$262,649
DEMARION JOHNSTON	GENERAL COUNSEL & CORP SECRETARY	18.00	Officer	$81,529	$34,602	$215,779
STACY PUCKETT	CHIEF FINANCIAL OFFICER	4.00	Officer	$21,124	$29,492	$240,730
CHANDLER OWDOM	SENIOR VICE PRESIDENT	20.00	Officer	$49,365	$25,352	$124,082
LAURIE MILLIGAN	COO & PRESIDENT, VBA BENEFITS CORP	1.00	Highest	$0	$30,334	$330,928
TRACY OTTINGER	SVP, MEMBER SERVICES, VBA MSI	1.00	Highest	$0	$17,815	$161,616
JOHN SNEAD	VP MEMBER SERVICES, VBA BENEFITS CORP	1.00	Highest	$0	$16,874	$165,004

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	$2,057,791	$1,542,723	$15,425,593	$515,068
2023	$2,052,435	$1,356,544	$14,662,412	$695,891
2022	$2,496,169	$1,038,922	$13,737,595	$1,457,247
2021	$2,240,117	$1,198,150	$12,456,737	$1,041,967
2020	$1,498,038	$1,154,124	$11,325,739	$343,914
2019	$1,230,448	$1,238,587	$10,691,789	$-8,139
2018	$1,307,699	$1,080,320	$10,640,929	$227,379