PATRICK PARKS AND RECREATION ASSOC

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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

1980

Legal Domicile

Principal Officer

Frank Pettway

Phone

2766925397

Tax Period

2024-01-01 to 2024-12-31

PATRICK PARKS AND RECREATION ASSOC, founded in 1980, is a small nonprofit that reported $158K in total revenue in fiscal year 2024. Revenue surged 20% from the prior year, signaling strong growth momentum. The organization ran a surplus of $49K, a strong 31% operating margin.

Mission

Patrick Parks and Recreation Association provides recreational facilities throughout Patrick County for all ages.

Program Service Accomplishments

Program 1

Expenses: $109,004 Revenue: $157,594

DEHART MEMORIAL PARKS ARE LOCATED IN STUART, MEADOWS OF DAN, WOOLWINE, PATRICK SPRINGS, AND ARARAT, VA. (MAINTENANCE OF THE FACILITIES AND RECREATION PROGRAMS WHICH SERVE 18,000 - 19,000 INDIVIDUALS)

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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 $123,302

Program Service Revenue $13,256

Investment Income $8,130

Other Revenue $12,906

TOTAL REVENUE $157,594

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $109,004

Other Expenses $109,004

TOTAL EXPENSES $109,004

Year-over-Year Comparison

	2024	2023	Change
Revenue	$157,594	$130,856	+0.2%
Expenses	$109,004	$96,151	+0.1%
Net Income	$48,590	$34,705	+0.4%

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Tim Davis	Director	20	Director	$0	$0	$0
Paige Terry	Director	20	Director	$0	$0	$0
Garry Brown	Director	20	Director	$0	$0	$0
Frank Pettway	Chairman	20	Officer	$0	$0	$0
Mark Trent	Vice-Chairman	20	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	$157,594	$109,004	$1,525,464	$48,590
2023	$130,856	$96,151	$1,476,874	$34,705
2022	$167,784	$86,471	$1,442,169	$81,313
2021	$121,354	$68,612	$1,360,856	$52,742
2020	$28,881	$37,149	$1,308,114	$-8,268