Virginia Association of Independen… - Form 990 Financial Data

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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

1973

Legal Domicile

Phone

8042823592

Tax Period

2024-07-01 to 2025-06-30

Virginia Association of Independent Schools, founded in 1973, is a community nonprofit in the Education sector that reported $1.4M in total revenue in fiscal year 2024. Expenses of $1.2M left a modest 12% surplus.

Mission

TO SERVE THE INDEPENDENT SCHOOLS OF VIRGINIA THROUGH ITS SCHOOL EVALUATION AND ACCREDITATION PROGRAM; THROUGH THE SPONSORSHIP OF A BROAD PROGRAM OF PROFESSIONAL DEVELOPMENT OPPORTUNITIES THAT IMPROVE THE PROFESSIONAL SKILLS OF TEACHERS, AND THAT FOCUS ON ISSUES OF LEADERSHIP, GOVERNANCE, AND SCHOOL FINANCE FOR KEY ADMINISRATORS AND TRUSTEES; AND THROUGH THE SAFEGUARDING OF THE INTERESTS OF MEMBER SCHOOLS IN MATTERS OF LEGISLATION AND REGULATION.

Program Service Accomplishments

Program 1

Expenses: $742,974 Revenue: $839,252

RELATE TO THE FURTHERANCE OF THE ASSOCIATION'S MISSION AND SERVICES IN INDEPENDENT SCHOOL EVALUATION AND ACCREDITATION, A PROGRAM THAT IS RECOGNIZED AND APPROVED BY THE VIRGINIA STATE BOARD OF...

RELATE TO THE FURTHERANCE OF THE ASSOCIATION'S MISSION AND SERVICES IN INDEPENDENT SCHOOL EVALUATION AND ACCREDITATION, A PROGRAM THAT IS RECOGNIZED AND APPROVED BY THE VIRGINIA STATE BOARD OF EDUCATION AND THE INTERNATIONAL COUNCIL ADVANCING INDEPENDENT SCHOOL ACCREDITATION, STIMULATING CONTINUING GROWTH AND IMPROVEMENT IN ITS SCHOOLS. IN THE AREA OF ACCREDITATION, VAIS PROVIDES PERSONALIZED PROFESSIONAL STAFF SUPPORT FOR INDIVIDUAL SCHOOLS, PROFESSIONAL TRAINING, AND PROMINENT REPRESENTATION AND RECOGNITION AT THE STATE AND NATIONAL LEVELS.

Program 2

Expenses: $209,396 Revenue: $236,530

RELATE TO THE FURTHERANCE OF THE ASSOCIATION'S MISSION AND SERVICES IN PROFESSIONAL DEVELOPMENT OFFERINGS GROUNDED IN BEST PRACTICE AND RESPONSIVE TO CURRENT AND FUTURE NEEDS OF INDEPENDENT SCHOOLS. VAIS PROVIDES PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR TEACHERS, ADMINISTRATORS, HEADS OF SCHOOL, AND TRUSTEES. VAIS SEMINARS FOR PROFESSIONAL CONSTITUENCIES INCLUDE BUT ARE NOT LIMITED TO THOSE FOR DIVISION DIRECTORS, DEPARTMENT CHAIRS, DEANS, ADMISSION, DEVELOPMENT, COMMUNICATION OFFICERS, AND REGISTRARS. LEADERSHIP AND GOVERNANCE ARE IMPORTANT AREAS OF EMPHASIS.

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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 $141,982

Program Service Revenue $1,075,782

Investment Income $105,468

Other Revenue $30,856

TOTAL REVENUE $1,354,088

Expense Breakdown

Grants Paid $5,509

Salaries & Benefits $776,632

Fundraising Expenses $0

Program Expenses $952,370

Other Expenses $412,841

TOTAL EXPENSES $1,194,982

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,354,088	$1,288,807	+0.1%
Expenses	$1,194,982	$1,139,180	+0.0%
Net Income	$159,106	$149,627	+0.1%

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

176

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

$283,179

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR ROBERT E GREGG III	PRESIDENT	2.0	Officer Director	$0	$0	$0
MRS CATHERINE S MCGEHEE	VICE PRESIDENT	2.0	Officer Director	$0	$0	$0
MRS HEATHER V MOORE	TREASURER	2.0	Officer Director	$0	$0	$0
MS STACEY IRVIN	SECRETARY	2.0	Officer Director	$0	$0	$0
BRIG GEN DAVID C WESLEY	DIRECTOR	2.0	Director	$0	$0	$0
DR CYNDY WELDON-LASSITER	DIRECTOR	2.0	Director	$0	$0	$0
DR VALAIDA WISE	DIRECTOR	2.0	Director	$0	$0	$0
MR JESSE GRAPES	DIRECTOR	2.0	Director	$0	$0	$0
MR JOHN KOWALIK	DIRECTOR	2.0	Director	$0	$0	$0
MR JOSH CHAPMAN	DIRECTOR	2.0	Director	$0	$0	$0
MR MASON LECKY	DIRECTOR	2.0	Director	$0	$0	$0
MR MIKE BARCLAY	DIRECTOR	2.0	Director	$0	$0	$0
MR SCOTT BAYTOSH	DIRECTOR	2.0	Director	$0	$0	$0
MR WILLIAM DARRIN III	DIRECTOR	2.0	Director	$0	$0	$0
MRS ASHLEY HARPER	DIRECTOR	2.0	Director	$0	$0	$0
Ms KAREN MOSCHETTO	DIRECTOR	2.0	Director	$0	$0	$0
MS BETSY A JOHNSON	EXECUTIVE DIRECTOR	40.0	Officer	$240,620	$42,559	$283,179

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	$1,354,088	$1,194,982	$2,091,610	$159,106
2024	$1,288,807	$1,139,180	$2,083,007	$149,627
2023	$1,183,792	$1,180,926	$1,847,763	$2,866
2022	$1,019,624	$982,350	$1,521,580	$37,274
2021	$949,587	$896,490	$1,564,445	$53,097
2020	$1,088,217	$1,006,617	$1,400,028	$81,600
2019	$1,075,458	$1,017,330	$1,340,145	$58,128

Virginia Association of Independent Schools