VIRGINIA BEACH RESTAURANT ASSOCIAT… - Form 990 Financial Data

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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

2007

Legal Domicile

Principal Officer

MARTHA P DAVENPORT

Phone

7575679304

Tax Period

2023-01-01 to 2023-12-31

VIRGINIA BEACH RESTAURANT ASSOCIATION, founded in 2007, is a small nonprofit in the Community Improvement sector that reported $191K in total revenue in fiscal year 2023. Revenue surged 75% from the prior year, signaling strong growth momentum.

Mission

THE VIRGINIA BEACH RESTAURANT ASSOCIATION IS ORGANIZED FOR THE FOLLOWING PURPOSES: TO DEVELOP AND FOSTER PROFESSIONAL STANDARDS AMONG THOSE PEOPLE ACTIVELY ENGAGED IN THE FOODSERVICE INDUSTRY; TO EXCHANGE IDEAS THROUGH EDUCATIONAL PROGRAMS AND FREE DISCUSSION OF MATTERS OF PROFESSIONAL INTEREST DIRECTLY AFFECTING THE ECONOMIC VITALITY OF THE FOODSERVICE INDUSTRY; TO CONTINUOUSLY PROMOTE THE CONCEPT OF FREE ENTERPRISE; AND TO KEEP THE FOODSERVICE COMMUNITY INFORMED OF LEGISLATIVE AND REGULATORY ISSUES THAT WILL AFFET THE WAY MEMBERS DO BUSINESS.

Program Service Accomplishments

Program 1

Expenses: $196,352

TO HELP MEMBER BUSINESSES BECOME MORE SUCCESSFUL, PROMOTE EDUCATION, FREE ENTERPRISE, AND THE COLLECTIVE MARKETING OF VIRGINIA BEACH RESTAURANTS.

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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 $28,799

Program Service Revenue $146,837

Investment Income $12

Other Revenue $14,967

TOTAL REVENUE $190,615

Expense Breakdown

Grants Paid $0

Salaries & Benefits $73,614

Fundraising Expenses $0

Program Expenses $196,352

Other Expenses $122,738

TOTAL EXPENSES $196,352

Year-over-Year Comparison

	2023	2022	Change
Revenue	$190,615	$108,970	+0.7%
Expenses	$196,352	$84,387	+1.3%
Net Income	$-5,737	$24,583	-1.2%

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

$68,383

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BJ BAUMANN	IMMEDIATE PAST PRESIDENT	6.00	Officer Director	$0	$0	$0
BOB HUGHES	VICE PRESIDENT	6.00	Officer Director	$0	$0	$0
MICHAEL MAUCH	PRESIDENT	6.00	Officer Director	$0	$0	$0
CHRIS SAVVIDES	DIRECTOR	4.00	Director	$0	$0	$0
DAVE COX	DIRECTOR	4.00	Director	$0	$0	$0
BILL GAMBRELL	DIRECTOR	4.00	Director	$0	$0	$0
KRISTINA CHASTAIN	DIRECTOR	4.00	Director	$0	$0	$0
VA TANG	DIRECTOR	4.00	Director	$0	$0	$0
GLORIA BOBAN	TREASURER	6.00	Officer Director	$0	$0	$0
BILL DILLION	DIRECTOR	4.00	Director	$0	$0	$0
KAL KASSIR	DIRECTOR EMERITUS	4.00	Director	$0	$0	$0
DAN SPEASMAKER	DIRECTOR EMERITUS	4.00	Director	$0	$0	$0
STEPHEN LIPPERT	DIRECTOR	4.00	Director	$0	$0	$0
MIKE STANDING	DIRECTOR	4.00	Director	$0	$0	$0
MARTHA DAVENPORT	EXECUTIVE DIRECTOR	40.00	Officer	$68,383	$0	$68,383

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
2023	$190,615	$196,352	$77,035	$-5,737

VIRGINIA BEACH RESTAURANT ASSOCIATION