VIRGINIA LEGENDS WALK FOUNDATION

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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

2000

Legal Domicile

Principal Officer

ROBERT N MELATTI

Phone

7578150830

Tax Period

2023-01-01 to 2023-12-31

VIRGINIA LEGENDS WALK FOUNDATION, founded in 2000, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $43K in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Expenses of $60K exceeded revenue, resulting in a 39% operating deficit.

Mission

PROVIDE ELECTION FOR AND EDUCATION CONCERNING LEGENDARY VIRGINIA PERSONALITIES. INSTALL PLAQUES THAT HONOR THESE VIRGINIANS IN VIRGINIA BEACH CITY OWNED PUBLIC GARDEN/WALK DEDICATED TO THIS PURPOSE. PROVIDE HISTORICAL THEMED PROGRAMMING FOR VISITORS TO THE CITY OF VIRGINIA BEACH AND THE COMMONWEALTH OF VIRGINIA.

Program Service Accomplishments

Program 1

Expenses: $9,666

PROVIDE ELECTION FOR AN EDUCATION CONCERNING LEGENDARY VIRGINIANS. INSTALL PLAQUES THAT HONOR THESE INDUCTEES ON VIRGINIA BEACH OWNED PUBLIC GARDEN WALK, IN THE HEART OF THE RESORT, DEDICATED TO THIS PURPOSE. THERE WERE NO INDUCTIONS NOR NOMINATIONS IN 2022. THE ORGANIZATION ANTICIPATES NOMINATIONS FOR INDUCTIONS WILL BEGIN IN 2023. THE LEGEND WALK PLANS A SIGNIFICANTLY INCREASED PRESENCE VIA THE WEBSITE WWW.VA-LEGENDS.NET. THE PARK IS DESIGNED TO ACCOMMODATE SEVERAL MORE INDUCTEES BEFORE THE CONSTRUCTION OF ADDITIONAL MOUNTING COLUMNS WILL BE REQUIRED.

Program 2

Expenses: $50,120

THE LEGENDS WALK IN CONJUNCTION WITH THE CITY OF VIRGINIA BEACH PRESENTED SEVERAL OFFERINGS TO THE GENERAL PUBLIC AND VISITORS TO THE RESORT. ONCE AGAIN THE VLW PRESENTED "1619: WHEN DESTINIES...

THE LEGENDS WALK IN CONJUNCTION WITH THE CITY OF VIRGINIA BEACH PRESENTED SEVERAL OFFERINGS TO THE GENERAL PUBLIC AND VISITORS TO THE RESORT. ONCE AGAIN THE VLW PRESENTED "1619: WHEN DESTINIES COLLIDE", "THE WITCH OF PUNGO", "THE WRECK OF THE DICTATOR" WHICH FEATURES AT THE NAVAL AVIATION MONUMENT ON 215TH STREET, AND A NEW PRODUCTION NAMED "CONTRABAND". APPROXIMATELY 125 SHOWINGS WERE PRODUCED AND OVER 10,000 ATTENDEES WERE ENTERTAINED AND EDUCATED.

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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 $40,500

Program Service Revenue $0

Investment Income $3

Other Revenue $2,563

TOTAL REVENUE $43,066

Expense Breakdown

Grants Paid $725

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $59,786

Other Expenses $59,221

TOTAL EXPENSES $59,946

Year-over-Year Comparison

	2023	2022	Change
Revenue	$43,066	$48,518	-0.1%
Expenses	$59,946	$33,086	+0.8%
Net Income	$-16,880	$15,432	-2.1%

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

N/A

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
ROBERT N MELATTI	DIRECTOR	3.00	Director	$0	$0	$0
GARY SPELL	DIRECTOR	1.00	Director	$0	$0	$0
DEREK LEONIDOFF	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	$43,066	$59,946	$17,336	$-16,880
2022	$48,518	$33,086	$34,501	$15,432
2021	$-24,268	$2,585	$19,079	$-26,853
2020	$-6,082	$702	$45,982	$-6,784
2019	$79,623	$61,821	$49,445	$17,802