VIRGINIA GOLD CUP ASSOCIATION 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

1923

Legal Domicile

Principal Officer

DR WILLIAM ALLISON

Phone

5403472612

Tax Period

2023-01-01 to 2023-12-31

VIRGINIA GOLD CUP ASSOCIATION INC, founded in 1923, is a community nonprofit that reported $2.1M in total revenue in fiscal year 2023.

Mission

THE VIRGINIA GOLD CUP ASSOCIATION WAS ORGANIZED IN 1923 TO STIMULATE INTEREST IN AND TO PROMOTE STEEPLECHASE RACING IN VIRGINIA. THE ASSOCIATION STRIVES TO PROVIDE AN ENVIRONMENT FOR SOCIAL RECREATION, WHERE OBSERVERS CAN ENJOY THE ENTERTAINMENT OF STEEPLECHASE RACING. VGCA ENCOURAGES SPORTSMANSHIP AND GOOD FELLOWSHIP AMONG THOSE PERSONS PARTICIPATING IN THE SPORT. FURTHERMORE, THE ASSOCIATION IS DEDICATED TO MAINTAINING A FACILITY FOR HOLDING STEEPLECHASE RACES.

Program Service Accomplishments

Program 1

Expenses: $1,982,348 Revenue: $2,201,186

THE ASSOCIATION HISTORICALLY ORGANIZES AND PROMOTES TWO ANNUAL STEEPLECHASE RACES IN FAUQUIER COUNTY, VIRGINIA.

Program 2

Expenses: $6,250

CONTRIBUTIONS TO LOCAL NON-PROFIT ORGANIZATIONS.

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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 $0

Program Service Revenue $2,185,292

Investment Income $-849

Other Revenue $-82,728

TOTAL REVENUE $2,101,715

Expense Breakdown

Grants Paid $6,250

Salaries & Benefits $123,624

Fundraising Expenses $0

Program Expenses $1,988,598

Other Expenses $2,097,278

TOTAL EXPENSES $2,227,152

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,101,715	$2,013,976	+0.0%
Expenses	$2,227,152	$1,758,043	+0.3%
Net Income	$-125,437	$255,933	-1.5%

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

150

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM ALLISON	PRESIDENT	15.00	Officer Director	$0	$0	$0
ALFRED C GRIFFIN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
G WAYNE EASTHAM	TREASURER	2.00	Officer Director	$0	$0	$0
MARSHALL D DOELLER	SECRETARY	1.00	Officer Director	$0	$0	$0
JEFFREY L LEHEW	BOARD MEMBER	0.20	Director	$0	$0	$0
MARGARET CHURCH LITTLETON	BOARD MEMBER	0.20	Director	$0	$0	$0
MARK HYSON	BOARD MEMBER	0.20	Director	$0	$0	$0
ERNEST M OARE	BOARD MEMBER	0.20	Director	$0	$0	$0
CHARLES H SEILHEIMER	BOARD MEMBER	0.20	Director	$0	$0	$0
RICHARD WALLACH	BOARD MEMBER	0.20	Director	$0	$0	$0
DON YOVANOVICH	BOARD MEMBER	0.20	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	No data	No data	No data	No data
2023	$2,101,715	$2,227,152	$241,872	$-125,437
2022	$2,013,976	$1,758,043	$325,011	$255,933
2021	$1,262,964	$1,150,121	$148,262	$112,843
2020	$598,844	$785,740	$154,766	$-186,896
2019	$2,341,572	$2,305,251	$210,672	$36,321
2018	$2,121,981	$2,282,956	$186,869	$-160,975