NOVA OF VIRGINIA AQUATICS 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

1987

Legal Domicile

Principal Officer

LEIGH PETERSON

Phone

8047543401

Tax Period

2023-09-01 to 2024-08-31

NOVA OF VIRGINIA AQUATICS INC, founded in 1987, is a community nonprofit in the Recreation & Sports sector that reported $5.5M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion.

Mission

WE STRIVE TO INSTILL THE QUALITIES THAT WILL MAKE OUR YOUNG PEOPLE LEADERS OF TOMORROW. DREAMS ARE OUR BUSINESS, DISCIPLINE IS OUR TOOL, EXCELLENCE IS OUR PURSUIT.

Program Service Accomplishments

Program 1

Expenses: $5,173,825 Revenue: $4,788,348

THROUGH PROGRAMS OFFERED BY NOVA, SWIMMERS HAVE QUALIFIED FOR USA SWIMMING SANCTIONED CHAMPIONSHIP MEETS AT STATE, REGIONAL, ZONE, NATIONAL, AND INTERNATIONAL LEVELS. AN ESTIMATED 800 SWIMMERS...

THROUGH PROGRAMS OFFERED BY NOVA, SWIMMERS HAVE QUALIFIED FOR USA SWIMMING SANCTIONED CHAMPIONSHIP MEETS AT STATE, REGIONAL, ZONE, NATIONAL, AND INTERNATIONAL LEVELS. AN ESTIMATED 800 SWIMMERS BENEFITED FROM THE COMPETITIVE TEAM AND ANOTHER MORE THAN 1,500 BENEFITED FROM THE LEARN TO SWIM PROGRAM DURING THE FISCAL YEAR.

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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 $416,960

Program Service Revenue $4,351,245

Investment Income $60,656

Other Revenue $629,934

TOTAL REVENUE $5,458,795

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,853,820

Fundraising Expenses $59,282

Program Expenses $5,173,825

Other Expenses $2,703,271

TOTAL EXPENSES $5,557,091

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,458,795	$4,965,517	+0.1%
Expenses	$5,557,091	$5,066,062	+0.1%
Net Income	$-98,296	$-100,545	0.0%

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

193

Volunteers

1000

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

$109,569

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW GLASS	DIRECTOR - ENDED 1/31/2024	1.00	Director	$0	$0	$0
KATIE HARRINGTON	DIRECTOR - ENDED 1/31/2024	1.00	Director	$0	$0	$0
GREG OWENS	DIRECTOR	1.00	Director	$0	$0	$0
RACHEL NAURATH	DIRECTOR	1.00	Director	$0	$0	$0
LORI HAAS	DIRECTOR	1.00	Director	$0	$0	$0
CHUCK HARRELL	DIRECTOR	1.00	Director	$0	$0	$0
PJ WALLIN	TREASURER-ELECT	1.00	Director	$0	$0	$0
WEST CUTHBERT	DIRECTOR	1.00	Director	$0	$0	$0
RYAN EHRENSBERGER	PRESIDENT-ELECT	1.00	Director	$0	$0	$0
KIRK VOGEL	PRESIDENT	1.00	Officer Director	$0	$0	$0
JENNY CONNORS	PRESIDENT EMERITUS	1.00	Officer Director	$0	$0	$0
BENJAMIN ACKERLY	SECRETARY	1.00	Officer Director	$0	$0	$0
MELISSA THORNTON	SECRETARY - ENDED 12/2023	1.00	Officer Director	$0	$0	$0
DAN CONNOR	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL FARMER	DIRECTOR	1.00	Director	$0	$0	$0
MISSY THORNTON	DIRECTOR - ENDED 1/31/2024	1.00	Director	$0	$0	$0
LEIGH PETERSON	CEO	40.00	Officer	$107,769	$1,800	$109,569
DAVID SCHRECK	HEAD COACH	40.00	Highest	$105,846	$3,822	$109,668

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	$5,458,795	$5,557,091	$15,677,628	$-98,296
2023	$4,965,517	$5,066,062	$16,515,043	$-100,545
2022	$4,740,503	$4,766,119	$10,612,018	$-25,616
2021	$4,962,373	$3,224,133	$10,147,459	$1,738,240
2020	$3,737,460	$2,950,890	$8,429,552	$786,570
2018	$3,747,410	$3,623,487	$7,594,266	$123,923