VIRGINIA QUILT MUSEUM

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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

Phone

5404333818

Tax Period

2023-01-01 to 2023-12-31

VIRGINIA QUILT MUSEUM, founded in 1992, is a small nonprofit in the Arts, Culture & Humanities sector that reported $267K in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Net assets of $679K represent 30 months of operating reserves.

Mission

THE MUSEUM EXISTS TO PRESENT, PRESERVE, & INTERPRET WORKS OF ART FOR THE WELL BEING OF THE PUBLIC

Program Service Accomplishments

Program 1

Expenses: $116,236

THE VIRGINIA QUILT MUSEUM EXISTS TO CELEBRATE AND NURTURE VIRGINIA'S QUILTING HERITAGE FOR THE BENEFIT AND EDUCATION OF THE PUBLIC BY COLLECTING, PRESERVING AND EXHIBITING QUILTS FROM VIRGINIA

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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 $109,803

Program Service Revenue $120,301

Investment Income $-1,330

Other Revenue $38,260

TOTAL REVENUE $267,034

Expense Breakdown

Grants Paid $0

Salaries & Benefits $122,178

Fundraising Expenses $30,859

Program Expenses $116,236

Other Expenses $139,811

TOTAL EXPENSES $261,989

Year-over-Year Comparison

	2023	2022	Change
Revenue	$267,034	$208,963	+0.3%
Expenses	$261,989	$209,415	+0.3%
Net Income	$5,045	$-452	-12.2%

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
MARY KERR	Director	1.00	Director	$0	$0	$0
EILEEN DOUGHTY	Secretary	5.00	Director	$0	$0	$0
SARAH ENTSMINGER	Vice President	1.00	Director	$0	$0	$0
BEVERLEY EVANS	Director	1.00	Director	$0	$0	$0
DONNA DESOTO	Director	1.00	Director	$0	$0	$0
GAIL BILLINGSLEY	Treasurer	1.00	Director	$0	$0	$0
GLORIA COMSTOCK	Director	1.00	Director	$0	$0	$0
SANDY MAXFIELD	President	5.00	Director	$0	$0	$0
LESLIE HOUGH	Director	1.00	Director	$0	$0	$0
ANDREA FINCH	Director	1.00	Director	$0	$0	$0
DEBORAH JUNGLING	Director	1.00	Director	$0	$0	$0
SUSAN LAPHAM	Director	1.00	Director	$0	$0	$0
ALICIA THOMAS	Executive Dir.	40.00	Director	$0	$0	$0
TERRY WIITA	Director	1.00	Director	$0	$0	$0
PRISCILLA STULTZ	Director	1.00	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
2024	No data	No data	No data	No data
2023	$267,034	$261,989	$685,189	$5,045
2021	$200,053	$171,346	$673,935	$28,707
2020	$195,316	$137,095	$652,752	$58,221
2019	$150,746	$156,749	$592,675	$-6,003
2018	$117,306	$138,312	$592,224	$-21,006