VIRGINIA MANUFACTURERS 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

1922

Legal Domicile

Principal Officer

BRETT VASSEY

Phone

8046437489

Tax Period

2024-01-01 to 2024-12-31

VIRGINIA MANUFACTURERS ASSOCIATION, founded in 1922, is a community nonprofit that reported $4.4M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

THE PURPOSE OF THE ASSOCIATION SHALL BE TO ENCOURAGE AND SUPPORT THE MANUFACTURING INDUSTRIES LOCATED WITHIN THE COMMONWEALTH OF VIRGINIA, TO AFFORD A MEDIUM FOR COOPERATION AMONG THOSE INDUSTRIES AND TO INITIATE, ENCOURAGE, FOSTER, AND PROMOTE CONSTRUCTIVE POLICIES AND ACTVITIES ON BEHALF OF INDUSTRY.

Program Service Accomplishments

Program 1

THE ORGANIZATION SUPPORTED THE MANUFACTURING INDUSTRIES IN VIRGINIA AND PROVIDED A MEDIUM FOR COOPERATION, POLICIES, AND ACTIVITIES AMONG THOSE INDUSTRIES.

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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 $4,276,433

Investment Income $80,361

Other Revenue $0

TOTAL REVENUE $4,356,794

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,689,098

Fundraising Expenses $0

Other Expenses $1,654,091

TOTAL EXPENSES $4,343,189

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,356,794	$4,028,133	+0.1%
Expenses	$4,343,189	$4,016,958	+0.1%
Net Income	$13,605	$11,175	+0.2%

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

$303,916

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRETT VASSEY	PRESIDENT/CE	40.00	Officer	$280,916	$23,000	$303,916
JAMES BAISDEN	CHAIRMAN EME	2.00	Officer	$0	$0	$0
ALAN BRADSHAW	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT TILLEY	DIRECTOR	2.00	Director	$0	$0	$0
ROB HOGAN	DIRECTOR	2.00	Director	$0	$0	$0
GREG MOODY	DIRECTOR	2.00	Director	$0	$0	$0
CHRISTY WALKER	DIRECTOR	2.00	Director	$0	$0	$0
DAVID LEDESMA	DIRECTOR	2.00	Director	$0	$0	$0
DOUG BASSETT	DIRECTOR	2.00	Director	$0	$0	$0
REINHOLD BRAND	DIRECTOR	2.00	Director	$0	$0	$0
CORT REISER	DIRECTOR	2.00	Director	$0	$0	$0
MAURI WINEGARDNER	SECRETARY	2.00	Officer	$0	$0	$0
SIDNEY HARRISON	CHAIRMAN	2.00	Officer	$0	$0	$0
DUSTIN LANIER	DIRECTOR	2.00	Director	$0	$0	$0
JANE BENITO	DIRECTOR	2.00	Director	$0	$0	$0
JON LOFTIS	DIRECTOR	2.00	Director	$0	$0	$0
JOSH PHELPS	DIRECTOR	2.00	Director	$0	$0	$0
NANCI HARDWICK	DIRECTOR	2.00	Director	$0	$0	$0
NATE MCGRAW	DIRECTOR	2.00	Director	$0	$0	$0
ANDY GIRVIN	DIRECTOR	2.00	Director	$0	$0	$0
ANDY GLOWATSKY	TREASURER	2.00	Officer	$0	$0	$0
JULIA JONES	VICE CHAIRMA	2.00	Officer	$0	$0	$0
SHAWN PELLINGTON	DIRECTOR	2.00	Director	$0	$0	$0
MARGARET SHAIA	DIRECTOR	2.00	Director	$0	$0	$0
UTLEY HARRISON	DIRECTOR	2.00	Director	$0	$0	$0
ELDON BRAMMER	DIRECTOR	2.00	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	$4,356,794	$4,343,189	$1,423,337	$13,605
2023	$4,028,133	$4,016,958	$1,610,950	$11,175
2022	$3,298,601	$3,235,924	$2,000,177	$62,677
2021	$1,912,866	$1,669,795	$1,604,585	$243,071
2020	$1,851,211	$1,555,883	$699,570	$295,328
2019	$1,755,344	$1,847,133	$525,885	$-91,789
2018	$1,677,603	$1,600,690	$344,061	$76,913