VIRGINIA ASPHALT 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

1952

Legal Domicile

Principal Officer

TRENTON CLARK

Phone

8042883169

Tax Period

2024-01-01 to 2024-12-31

VIRGINIA ASPHALT ASSOCIATION, founded in 1952, is a community nonprofit that reported $1.9M in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

TO PROMOTE THE INCREASED USE AND QUALITY OF ASPHALT PAVEMENTS IN VIRGINIA.

Program Service Accomplishments

Program 1

PROMOTING THE USE OF ASPHALT BY LOBBYING FOR AND PROVIDING INFORMATIONAL SERVICES TO GOVERNMENT AND PRIVATE BODIES WHICH HAVE AN INTEREST IN PAVING.

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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 $753,089

Program Service Revenue $921,822

Investment Income $153,511

Other Revenue $71,709

TOTAL REVENUE $1,900,131

Expense Breakdown

Grants Paid $50,766

Salaries & Benefits $985,241

Fundraising Expenses $0

Other Expenses $964,751

TOTAL EXPENSES $2,000,758

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,900,131	$1,706,222	+0.1%
Expenses	$2,000,758	$1,831,504	+0.1%
Net Income	$-100,627	$-125,282	-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

$692,123

Total Directors

$305,189

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRENTON CLARK	PRESIDENT	40.00	Officer Director	$246,150	$59,039	$305,189
DAVID LEE	VICE PRESIDE	40.00	Officer	$152,414	$41,573	$193,987
MICHAEL C DUDLEY	DIRECTOR	40.00	Officer	$143,244	$49,703	$192,947
DAVID WHITE	1ST EX-OFFIC	1.00	Officer Director	$0	$0	$0
BOBBY HEDRICK	CHAIRMAN	1.00	Officer Director	$0	$0	$0
TIM BOONE	VICE CHAIRMA	1.00	Officer Director	$0	$0	$0
DAVID BRANSCOME JR	SECRETARY	1.00	Officer Director	$0	$0	$0
CHRISTOPHER BLEVINS	2ND EX-OFFIC	1.00	Officer Director	$0	$0	$0
DAVID HORTON	DIRECTOR	1.00	Director	$0	$0	$0
DANNY BARTGES	DIRECTOR	1.00	Director	$0	$0	$0
ED DALRYMPLE JR	DIRECTOR	1.00	Director	$0	$0	$0
LONNIE MINSON	DIRECTOR	1.00	Director	$0	$0	$0
HARRY KING	DIRECTOR	1.00	Director	$0	$0	$0
BLAIR WILLIAMSON	DIRECTOR	1.00	Director	$0	$0	$0
KEN ARTHUR	DIRECTOR	1.00	Director	$0	$0	$0
C R LANGHORNE III	DIRECTOR	1.00	Director	$0	$0	$0
DAVID BRANSCOME SR	DIRECTOR	1.00	Director	$0	$0	$0
BEN MILLER	DIRECTOR	1.00	Director	$0	$0	$0
BUDDY LEAGUE	TREASURER	1.00	Officer Director	$0	$0	$0
ROB SCHWEAR	DIRECTOR	1.00	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	$1,900,131	$2,000,758	$1,534,980	$-100,627
2023	$1,706,222	$1,831,504	$1,649,768	$-125,282
2022	$1,650,677	$1,780,740	$1,578,179	$-130,063
2021	$1,713,325	$1,715,356	$2,158,370	$-2,031
2020	$1,700,588	$1,342,293	$1,792,626	$358,295
2019	$1,595,833	$1,629,303	$1,154,946	$-33,470
2018	$1,569,505	$1,398,840	$1,138,917	$170,665