THE VIRGINIA AIR & SPACE CENTER

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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

1992

Legal Domicile

Principal Officer

DR JEFFERY SMITH

Phone

7577270900

Tax Period

2024-07-01 to 2025-06-30

THE VIRGINIA AIR & SPACE CENTER, founded in 1992, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.3M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $835K, a strong 19% operating margin.

Mission

TO SERVE AS THE REGION'S LEADING SOURCE OF INFORMATIONAL SCIENCE EDUCATION THROUGH INTERACTIVE SCIENCE DEMONSTRATIONS, HANDS-ON EDUCATION PROGRAMS AND OUTREACH PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $2,328,966 Revenue: $869,062

ATTENDANCE TO THE MUSEUM FOR THIS FISCAL YEAR WAS 72,251. INCLUDED IN TOTAL VISITATION WERE 30,664 STUDENTS WHO VISITED THE MUSEUM. ALSO SERVED A TOTAL OF 8,726 STUDENTS IN THE OUTREACH PROGRAM. THE MUSEUM FEATURES OVER 166 EXHIBITS, INCLUDING 19 AIRCRAFTS, 7 SPACE CRAFTS, 2 ROCKETS AND 1 LUNAR HABITAT.

Program 2

Expenses: $411,277 Revenue: $466,669

EDUCATIONAL PROGRAMS - THE VIRGINIA AIR AND SPACE SCIENCE CENTER'S EDUCATION PROGRAMS ARE STRATEGICALLY DESIGNED TO SERVE SCHOOL DIVISIONS AND THE BROADER COMMUNITY THROUGH INNOVATIVE PUBLIC...

EDUCATIONAL PROGRAMS - THE VIRGINIA AIR AND SPACE SCIENCE CENTER'S EDUCATION PROGRAMS ARE STRATEGICALLY DESIGNED TO SERVE SCHOOL DIVISIONS AND THE BROADER COMMUNITY THROUGH INNOVATIVE PUBLIC ENGAGEMENT, DYNAMIC CAMPS, AFTER-SCHOOL ENRICHMENT, AND IMMERSIVE SCOUT OVERNIGHT EXPERIENCES. EACH PROGRAM IS ALIGNED WITH THE VIRGINIA STANDARDS OF LEARNING AND ROOTED IN INQUIRY-BASED PROJECTS THAT FOSTER CRITICAL THINKING WHILE CREATING MEANINGFUL CAREER CONNECTIONS FOR STUDENTS OF ALL AGES. BY INTEGRATING REAL-WORLD APPLICATIONS, WE ENSURE THAT PARTICIPANTS NOT ONLY MEET ACADEMIC BENCHMARKS BUT ALSO DEVELOP SKILLS ESSENTIAL FOR THE WORKFORCE OF TOMORROW.

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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 $2,658,858

Program Service Revenue $1,335,731

Investment Income $81,295

Other Revenue $249,042

TOTAL REVENUE $4,324,926

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,452,106

Fundraising Expenses $57,925

Program Expenses $2,740,243

Other Expenses $2,037,870

TOTAL EXPENSES $3,489,976

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,324,926	$3,733,385	+0.2%
Expenses	$3,489,976	$2,889,636	+0.2%
Net Income	$834,950	$843,749	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

Volunteers

N/A

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
DR JEFFERY SMITH	EXECUTIVE DI	40.00	Highest	$167,537	$0	$167,537
ANN BANE	DIRECTOR	3.00	Director	$0	$0	$0
BRIAN D DEPROFIO	DIRECTOR	3.00	Director	$0	$0	$0
MICHAEL B HAMAR	DIRECTOR	3.00	Director	$0	$0	$0
DR RAYMOND L HAYNES	DIRECTOR	3.00	Director	$0	$0	$0
DAVID HOLT	SECRETARY	3.00	Officer Director	$0	$0	$0
JOHN CABOT ISHON	TREASURER	3.00	Officer Director	$0	$0	$0
MELVIN FEREBEE JR	VICE PRESIDE	3.00	Officer Director	$0	$0	$0
GAYLENE KANOYTON	DIRECTOR	3.00	Director	$0	$0	$0
HOWARD KERN	DIRECTOR	3.00	Director	$0	$0	$0
STEPHEN MILLER	DIRECTOR	3.00	Director	$0	$0	$0
ROSS A MUGLER	DIRECTOR	3.00	Director	$0	$0	$0
ROBIN MCDOUGAL	DIRECTOR	3.00	Director	$0	$0	$0
DR WILLIAM MOORE	DIRECTOR	N/A	Director	$0	$0	$0
CHANDRA OAKS-GARCIA	DIRECTOR	3.00	Director	$0	$0	$0
L'ALLEGRO SMITH	PRESIDENT	3.00	Officer Director	$0	$0	$0
MS ALEXIS SWANN	DIRECTOR	3.00	Director	$0	$0	$0
DONNA SPELLER TURNER	DIRECTOR	3.00	Director	$0	$0	$0
DR JOHN POLK WILLIAMS	DIRECTOR	3.00	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
2025	$4,324,926	$3,489,976	$4,883,204	$834,950
2024	$3,733,385	$2,889,636	$3,935,682	$843,749
2023	$3,731,856	$2,891,512	$3,047,888	$840,344
2022	$3,284,380	$2,973,118	$2,430,723	$311,262
2021	$2,905,493	$2,898,722	$2,403,563	$6,771
2020	$3,100,166	$3,093,431	$2,154,403	$6,735
2019	$3,619,442	$3,508,283	$2,047,940	$111,159