WILLIAMSBURG AREA ASSOCIATION OF RE

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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

1974

Legal Domicile

Tax Period

2023-11-01 to 2024-10-31

WILLIAMSBURG AREA ASSOCIATION OF RE, founded in 1974, is a small nonprofit that reported $587K in total revenue in fiscal year 2023. Revenue surged 50% from the prior year, signaling strong growth momentum. The organization ran a surplus of $201K, a strong 34% operating margin.

Mission

PROFESSIONAL SUPPORT SERVICES TO GREATER WILLIAMSBURG AREA REALTORS

Program Service Accomplishments

Program 1

Expenses: $372,443

THE ASSOCIATION PROVIDES SUPPORT, RECOGNITION AND NETWORKING OPPORTUNITIES TO MORE THAN 700 MEMBERS IN QUARTERLY GENERAL MEMBERSHIP MEETINGS, SOCIAL FUNCTIONS AND RECONIGITION AND EDUCATIONAL...

THE ASSOCIATION PROVIDES SUPPORT, RECOGNITION AND NETWORKING OPPORTUNITIES TO MORE THAN 700 MEMBERS IN QUARTERLY GENERAL MEMBERSHIP MEETINGS, SOCIAL FUNCTIONS AND RECONIGITION AND EDUCATIONAL PROGRAMS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $181,009

Program Service Revenue $34,602

Investment Income $155,598

Other Revenue $215,810

TOTAL REVENUE $587,019

Expense Breakdown

Grants Paid $0

Salaries & Benefits $212,985

Fundraising Expenses $0

Program Expenses $372,443

Other Expenses $172,947

TOTAL EXPENSES $385,932

Year-over-Year Comparison

	2023	2022	Change
Revenue	$587,019	$392,040	+0.5%
Expenses	$385,932	$362,731	+0.1%
Net Income	$201,087	$29,309	+5.9%

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

Total Directors

Key Employees

$48,935

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
CHARLIE WILLITS	CEO	Key Emp	$48,935	$0	$48,935
SUZANNE DANA	DIRECTOR	Director	$0	$0	$0
JOYCLYN KANANEN	DIRECTOR	Director	$0	$0	$0
JIM MELLEN	DIRECTOR	Director	$0	$0	$0
BRIAN TWIDDY	DIRECTOR	Director	$0	$0	$0
JENNIFER MITCHELL	DIRECTOR	Director	$0	$0	$0
FRED SMITH	IMM PAST PRESIDENT	Director	$0	$0	$0
CRISNEY BROOKS	PRESIDENT ELECT	Director	$0	$0	$0
PAUL ROBINSON	TREASURER	Officer	$0	$0	$0
ELIZABETH WALTHALL	PRESIDENT	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
2024	$587,019	$385,932	$2,208,854	$201,087
2023	$392,040	$362,731	$2,008,536	$29,309
2022	$235,980	$334,275	$1,969,388	$-98,295
2021	$722,634	$327,843	$2,076,735	$394,791
2020	$914,557	$310,874	$1,605,098	$603,683
2018	$403,192	$335,205	$931,215	$67,987