Virginia Ship Repair Association

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1981

Legal Domicile

Principal Officer

WILLIAM CROW

Phone

7572337034

Tax Period

2023-01-01 to 2023-12-31

Virginia Ship Repair Association, founded in 1981, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $1.3M left a modest 7% surplus.

Mission

TO MAINTAIN FOCUS ON AND COORDINATE RESOURCE TO ADDRESS AND RESOLVE THE ISSUES, CHALLENGES, AND OPPORTUNITIES FACING THE SHIP REPAIR INDUSTRY IN VIRGINIA ACROSS THE NATION.

Program Service Accomplishments

Program 1

A STRATEGIC MISSION OF THE VIRGINIA SHIP REPAIR ASSOCIATION (VSRA) IS TO MAINTAIN CONTINUOUS EFFORTS TO ENSURE AWARENESS OF THE IMPACT OF THE SHIP REPAIR INDUSTRY IN VIRGINIA AMONG LOCAL, STATE, AND FEDERAL ENTITIES, AS WELL AS THE COMMUNITY AT LARGE. AMONG THE STRATEGIC GOALS OF THE VSRA IS TO MAKE THE PUBLIC, AS WELL AS LAWMAKERS, AWARE OF THE SIGNIFICANCE AND NATIONAL RAMIFICATIONS OF SHIP REPAIR, NOT JUST AS A VITAL ECONOMIC FOUNDATION FOR THE HAMPTON ROADS AREA, BUT ALSO AS A CRITICAL NATIONAL SECURITY ASSET. ADDITIONAL STRATEGIC GOALS OF THE VSRA ARE TO CONTINUOUSLY ENSURE PUBLIC AWARENESS OF THE INDUSTRY WORKFORCE NEEDS, DIVERSE CAREER PATHS, AS WELL AS MULTITUDINOUS TRAINING AND CREDENTIALING OPPORTUNITIES AVAILABLE IN THE SHIP REPAIR INDUSTRY.

Program 2

PUBLIC AWARENESS

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $176,480

Program Service Revenue $1,221,575

Investment Income $31,428

Other Revenue $0

TOTAL REVENUE $1,429,483

Expense Breakdown

Grants Paid $0

Salaries & Benefits $739,033

Fundraising Expenses $0

Other Expenses $588,105

TOTAL EXPENSES $1,327,138

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,429,483	$1,225,008	+0.2%
Expenses	$1,327,138	$1,208,816	+0.1%
Net Income	$102,345	$16,192	+5.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$232,713

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM CROW	PRESIDENT/CEO	30.0	Officer	$206,856	$25,857	$232,713
KEVIN TERRY	CHAIRMAN	0.25	Officer Director	$0	$0	$0
W PERRY BINGHAM	VICE-CHAIRMAN	0.25	Officer Director	$0	$0	$0
RAY WITTERSHEIM	SECRETARY/TREASURER	0.25	Officer Director	$0	$0	$0
PAUL CLIFFORD	DIRECTOR	0.25	Director	$0	$0	$0
RENE DOIRON	DIRECTOR	0.25	Director	$0	$0	$0
DON EVERTON	DIRECTOR	0.25	Director	$0	$0	$0
MICHAEL FORD	DIRECTOR	0.25	Director	$0	$0	$0
THOMAS GODFREY JR	DIRECTOR	0.25	Director	$0	$0	$0
TRACY GREGORIO	DIRECTOR	0.25	Director	$0	$0	$0
BRIAN HOLLAND	DIRECTOR	0.25	Director	$0	$0	$0
GENE HUNT	DIRECTOR	0.25	Director	$0	$0	$0
MIKE JOHNSON	DIRECTOR	0.25	Director	$0	$0	$0
MARK JONES	DIRECTOR	0.25	Director	$0	$0	$0
CHRISTOPHER McCALLUM	DIRECTOR	0.25	Director	$0	$0	$0
BRAD MOYER	DIRECTOR	0.25	Director	$0	$0	$0
BRAD VAUGHN	DIRECTOR	0.25	Director	$0	$0	$0
JORDAN WEBB	DIRECTOR	0.25	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	$1,429,483	$1,327,138	$2,036,971	$102,345
2022	$1,225,008	$1,208,816	$2,069,863	$16,192
2021	$1,282,295	$1,131,508	$1,175,064	$150,787
2020	$1,058,726	$1,020,825	$1,006,478	$37,901
2019	$1,286,044	$1,148,349	$956,799	$137,695
2018	$1,181,578	$1,062,166	$769,603	$119,412