HAMPTON ROADS EDUCATIONAL TELECOMMUNICATIONS ASSOCIATION INC (EIN 540843118) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1961

Legal Domicile

Phone

7578899400

Tax Period

2024-07-01 to 2025-06-30

Hampton Roads Educational Telecommunications Association Inc, founded in 1961, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $13.3M in total revenue in fiscal year 2018.

Mission

IMPROVE THE CIVIC, EDUCATIONAL & CULTURAL LIFE OF THE CITIZENS OF EASTERN VA THROUGH THE PRODUCTION AND DISTRIB. OF IMPORTANT AND IMPACTFUL LOCAL, NATIONAL, AND EDUCATIONAL CONTENT.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $12,654,324

Program Service Revenue $3,591,921

Investment Income $550,252

Other Revenue $1,972,137

TOTAL REVENUE $18,768,634

Expense Breakdown

Grants Paid $0

Salaries & Benefits $10,232,935

Fundraising Expenses $2,269,361

Program Expenses $13,051,222

Other Expenses $6,811,450

TOTAL EXPENSES $17,044,385

Year-over-Year Comparison

	2024	2023	Change
Revenue	$18,768,634	$16,699,325	+0.1%
Expenses	$17,044,385	$17,280,758	0.0%
Net Income	$1,724,249	$-581,433	-4.0%

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

151

Volunteers

550

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

$518,960

Total Directors

$307,321

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BERTEL SCHMIDT	PRESIDENT & CEO	40.0	Officer Director	$282,849	$24,472	$307,321
EMILY STEINHILBER	BOARD SECRETARY	5.0	Officer Director	$0	$0	$0
PATRICK MCDERMOTT	BOARD TREASURER	5.0	Officer Director	$0	$0	$0
WIN SHORT	BOARD VICE CHAIR	5.0	Officer Director	$0	$0	$0
YVONNE ALLMOND	BOARD CHAIR	5.0	Officer Director	$0	$0	$0
ALONZO BRANDON	BOARD MEMBER	1.0	Director	$0	$0	$0
BENMING ZHANG	BOARD MEMBER	1.0	Director	$0	$0	$0
BRITTANY WALKER	BOARD MEMBER	1.0	Director	$0	$0	$0
BRUCE JACOBSON	BOARD MEMBER	1.0	Director	$0	$0	$0
CARI PARRISH	BOARD MEMBER	1.0	Director	$0	$0	$0
CARL DEVORE	BOARD MEMBER	1.0	Director	$0	$0	$0
CHARLES FORD	BOARD MEMBER	1.0	Director	$0	$0	$0
CHINEDU OKALA	BOARD MEMBER	1.0	Director	$0	$0	$0
DAVID WHITE	BOARD MEMBER	1.0	Director	$0	$0	$0
DON WINCHESTER	BOARD MEMBER	1.0	Director	$0	$0	$0
DR ELIE BRACY III	BOARD MEMBER	1.0	Director	$0	$0	$0
DR JONATHAN ROMERO	BOARD MEMBER	1.0	Director	$0	$0	$0
DR MARCIA CONSTON	BOARD MEMBER	1.0	Director	$0	$0	$0
DR OLWEN HERRON	BOARD MEMBER	1.0	Director	$0	$0	$0
EILEEN OLDS	BOARD MEMBER	1.0	Director	$0	$0	$0
GREG MCCRACKEN	BOARD MEMBER	1.0	Director	$0	$0	$0
GWEN GILBERT	BOARD MEMBER	1.0	Director	$0	$0	$0
LUIS ESTRADA	BOARD MEMBER	1.0	Director	$0	$0	$0
MICHAEL STERLING	BOARD MEMBER	1.0	Director	$0	$0	$0
NANCY PORTER	BOARD MEMBER	1.0	Director	$0	$0	$0
NICOLAS SCHUCK	BOARD MEMBER	1.0	Director	$0	$0	$0
RANDY WEBB	BOARD MEMBER	1.0	Director	$0	$0	$0
ROB ROBINS	BOARD MEMBER	1.0	Director	$0	$0	$0
SALLY DICKINSON	BOARD MEMBER	1.0	Director	$0	$0	$0
SCOTT DUNCAN	BOARD MEMBER	1.0	Director	$0	$0	$0
SCOTT MILLER	BOARD MEMBER	1.0	Director	$0	$0	$0
SHAWN CAMPBELL	BOARD MEMBER	1.0	Director	$0	$0	$0
THEO CRAMER	BOARD MEMBER	1.0	Director	$0	$0	$0
AMY SOKOL	CHIEF FINANCIAL OFFICER	40.0	Officer	$133,693	$11,338	$145,031
SHANNON SAWYER	ASSITANT TO THE PRESIDENT	40.0	Officer	$64,048	$2,560	$66,608
DIANE ROGIC	DIRECTOR, CORPORATE SUPPORT	40.0	Highest	$164,118	$16,846	$180,964
GLENN HICKMAN	DIRECTOR, RADIO FREQUENCY ENGINEERING	40.0	Highest	$125,386	$12,786	$138,172
HEATHER MAZZONI	CHIEF CONTENT OFFICER	40.0	Highest	$148,793	$16,242	$165,035
MAURICE JONES	VICE PRESIDENT OF NEWS	40.0	Highest	$144,396	$1,551	$145,947
THOMAS BURTON	CHIEF DEVELOPMENT OFFICER	40.0	Highest	$180,962	$7,208	$188,170

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	$18,768,634	$17,044,385	$36,551,114	$1,724,249
2024	$16,699,325	$17,280,758	$32,847,717	$-581,433
2023	$15,830,203	$17,556,723	$31,548,718	$-1,726,520
2022	$13,882,168	$14,771,322	$32,040,229	$-889,154
2021	$22,196,526	$17,112,566	$34,089,431	$5,083,960
2020	$20,539,888	$14,837,488	$32,477,430	$5,702,400
2019	$13,286,550	$14,338,305	$23,210,959	$-1,051,755

HAMPTON ROADS EDUCATIONAL TELECOMMUNICATIONS ASSOCIATION INC