OLD DOMINION ATHLETIC FOUNDATION (EIN 546051933) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1964

Legal Domicile

Principal Officer

JENA VIRGA

Phone

7576834524

Tax Period

2023-01-01 to 2023-12-31

Old Dominion Athletic Foundation, founded in 1964, is a mid-sized nonprofit that reported $13.8M in total revenue in fiscal year 2018. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $6.5M, a strong 47% operating margin.

Mission

THE MISSION OF OLD DOMINION ATHLETIC FOUNDATION IS: A. TO FINANCIALLY AID AND SUPPORT THE ATHLETIC PROGRAMS OF OLD DOMINION UNIVERSITY. B. TO STRENGTHEN AND SUPPORT THE EDUCATIONAL PURPOSES OF OLD DOMINION UNIVERSITY'S ATHLETIC PROGRAMS IN ACCORDANCE WITH THE RULES AND REGULATIONS OF THE NCAA AND THE APPROPRIATE AFFILIATED CONFERENCE(S) AND THE UNIVERSITY.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $7,987,564

Program Service Revenue $0

Investment Income $493,172

Other Revenue $68,169

TOTAL REVENUE $8,548,905

Expense Breakdown

Grants Paid $10,239,505

Salaries & Benefits $0

Fundraising Expenses $286,441

Program Expenses $11,425,078

Other Expenses $2,159,116

TOTAL EXPENSES $12,398,621

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,548,905	$14,428,347	-0.4%
Expenses	$12,398,621	$14,083,299	-0.1%
Net Income	$-3,849,716	$345,048	-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

N/A

Volunteers

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
H SCOTT HARDISON	CHAIR	0.3	Officer Director	$0	$0	$0
KELLY TILL	FIRST VICE CHAIR	0.3	Officer Director	$0	$0	$0
RUSSELL S TURNER	SECOND VICE TRUSTEE	0.1	Officer Director	$0	$0	$0
THOMAS F CHERRY	SECRETARY/TREASURER	0.3	Officer Director	$0	$0	$0
MONIQUE ADAMS	TRUSTEE	0.1	Director	$0	$0	$0
CARLTON BENNETT	TRUSTEE	0.1	Director	$0	$0	$0
JERRY BOWMAN	TRUSTEE	0.1	Director	$0	$0	$0
WILLIAM BROTHERS	TRUSTEE	0.1	Director	$0	$0	$0
GERALD P BRUNICK	TRUSTEE	0.1	Director	$0	$0	$0
AUDRA BULLOCK	TRUSTEE	0.1	Director	$0	$0	$0
JEFFREY S CHERNITZER	TRUSTEE	0.1	Director	$0	$0	$0
DANIEL J CLARKSON	TRUSTEE	0.1	Director	$0	$0	$0
TREY DUDLEY	TRUSTEE	0.1	Director	$0	$0	$0
MICHAEL FOWLER	TRUSTEE	0.1	Director	$0	$0	$0
JEROME B FRIEDMAN	TRUSTEE	0.1	Director	$0	$0	$0
AMY FROSTICK	TRUSTEE	0.1	Director	$0	$0	$0
BRIAN K HOLLAND	TRUSTEE	0.1	Director	$0	$0	$0
THOMAS M JOHNSTON	TRUSTEE	0.1	Director	$0	$0	$0
RICHARD F KIEFNER JR	TRUSTEE	0.1	Director	$0	$0	$0
BARRY M KORNBLAU	TRUSTEE	0.1	Director	$0	$0	$0
JEFFREY D KORNBLAU	TRUSTEE	0.1	Director	$0	$0	$0
ROBERT G KREBS	TRUSTEE	0.1	Director	$0	$0	$0
RICHARD A MCGRATH	TRUSTEE	0.1	Director	$0	$0	$0
JEREMY MCLENDON	TRUSTEE	0.1	Director	$0	$0	$0
JOSEPH MERSEL	TRUSTEE	0.1	Director	$0	$0	$0
EG MIDDLETON III	TRUSTEE	0.1	Director	$0	$0	$0
GEORGINA MILLER	TRUSTEE	0.1	Director	$0	$0	$0
ALEX MITCHUM	TRUSTEE	0.1	Director	$0	$0	$0
ROBIN D RAY	TRUSTEE	0.1	Director	$0	$0	$0
EDWARD J REED	TRUSTEE	0.1	Director	$0	$0	$0
RONALD C RIPLEY	TRUSTEE	0.1	Director	$0	$0	$0
CONRAD SHUMADINE	TRUSTEE	0.1	Director	$0	$0	$0
JAMES S SOMERS	TRUSTEE	0.1	Director	$0	$0	$0
DAVID STOCKMEIER	TRUSTEE	0.1	Director	$0	$0	$0
RICHARD B THURMOND	TRUSTEE	0.1	Director	$0	$0	$0
W RUSSELL TURNER	TRUSTEE	0.1	Director	$0	$0	$0
KATHRYN M VAN BUREN	TRUSTEE	0.1	Director	$0	$0	$0
RAY G WRITTERSHEIM	TRUSTEE	0.1	Director	$0	$0	$0
BRIAN HEMPHILL	EX-OFFICIO	0.1	Director	$0	$0	$0
ANDRE WELLS	EX-OFFICIO (THRU 06/2023)	0.1	Director	$0	$0	$0
JANET CARTER	EX-OFFICIO (From 07/2023)	0.1	Director	$0	$0	$0
CAMDEN WOOD SELIG	EX-OFFICIO	0.1	Director	$0	$0	$0
ALONZO BRANDON	EX-OFFICIO	0.1	Director	$0	$0	$0
MIKE LAROCK	ASST. TREASURER	9.0	Officer	$0	$0	$0
CINDY GALL	ASST. SECRETARY	13.0	Officer	$0	$0	$0
JENA VIRGA	EXECUTIVE DIRECTOR	10.0	Officer	$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	$8,548,905	$12,398,621	$70,523,628	$-3,849,716
2022	$14,428,347	$14,083,299	$70,701,057	$345,048
2021	$6,634,127	$8,282,545	$75,318,666	$-1,648,418
2020	$11,016,579	$8,073,869	$67,759,888	$2,942,710
2019	$11,408,952	$7,570,014	$60,312,374	$3,838,938
2018	$13,840,532	$7,370,082	$51,401,801	$6,470,450

OLD DOMINION ATHLETIC FOUNDATION