VIRGINIA CHORAL SOCIETY INC

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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

1963

Legal Domicile

Principal Officer

Virginia Choral Society Inc

Phone

7578696548

Tax Period

2024-07-01 to 2025-06-30

VIRGINIA CHORAL SOCIETY INC, founded in 1963, is a small nonprofit in the Arts, Culture & Humanities sector that reported $106K in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $119K exceeded revenue, resulting in a 12% operating deficit.

Mission

Choral Performances in the Tidewater Area

Program Service Accomplishments

Program 1

Expenses: $87,828 Revenue: $103,163

The Virginia Choral Society is a community based, non-profit, auditioned mixed voice chorus that performs three concert series each year in the Tidewater Area - fall, holiday, and spring. The Society averages between 80-100 singers with mixed music backgrounds, skills and abilities; using piano and organ accompaniment primarily, and occasionally augment with percussion and professional soloists.

Program 2

Expenses: $5,000 Revenue: $0

The society offered two scholarships this spring to high school seniors or college students who plan to attend college and study music performance or music education

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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 $34,780

Program Service Revenue $25,798

Investment Income $45,400

Other Revenue $0

TOTAL REVENUE $105,978

Expense Breakdown

Grants Paid $5,000

Salaries & Benefits $40,252

Fundraising Expenses $0

Program Expenses $92,828

Other Expenses $73,564

TOTAL EXPENSES $118,916

Year-over-Year Comparison

	2024	2023	Change
Revenue	$105,978	$85,584	+0.2%
Expenses	$118,916	$89,887	+0.3%
Net Income	$-12,938	$-4,303	+2.0%

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

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

Total Directors

$20,085

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Bryson Mortensen	Artistic Director	6	Director	$20,085	$0	$20,085
Mark Sink	Chorus President	4	Director	$0	$0	$0
Louis DeGrace	Member-at-Large	2	Director	$0	$0	$0
Shawn McDonald	Member-at-Large	2	Director	$0	$0	$0
Patti Grayson	Member-at-Large	2	Director	$0	$0	$0
Susie Gabriel	Director of Personnel	2	Director	$0	$0	$0
Nancy McLaulin	Scholarship Committee Chairman	2	Director	$0	$0	$0
Charles Bump	Treasurer	4	Officer	$0	$0	$0
Mary-William Baines	Managing Director	4	Officer	$0	$0	$0
Pam Pringle	Secretary and Strategic Planning	4	Officer	$0	$0	$0
Phyllis Wells	Director of Programming	4	Officer	$0	$0	$0
Jerry Cranfill	Director of Marketing and Development	4	Officer	$0	$0	$0
Roz McCreary	Director of Operations	4	Officer	$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
2025	$105,978	$118,916	$1,136,111	$-12,938
2024	$85,584	$89,887	$1,050,528	$-4,303
2023	$75,353	$98,484	$961,809	$-23,131
2022	$77,429	$77,898	$920,079	$-469
2021	$117,408	$66,283	$1,030,919	$51,125
2020	$28,465	$70,027	$873,652	$-41,562
2019	$80,939	$83,000	$934,852	$-2,061