NORFOLK SPORTS CLUB SCHOLARSHIP FOUNDATION (EIN 546068678) - 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

1953

Legal Domicile

Principal Officer

AKEEM PROSSER

Phone

7573556019

Tax Period

2023-01-01 to 2023-12-31

NORFOLK SPORTS CLUB SCHOLARSHIP FOUNDATION, founded in 1953, is a micro nonprofit in the Education sector that reported $71K in total revenue in fiscal year 2023. The organization ran a surplus of $32K, a strong 44% operating margin.

Mission

THE FOUNDATION SELECTS STUDENTS FROM ACCREDITED HIGH SCHOOLS WITHIN THE GEOGRAPHICAL BOUNDARIES OF SOUTH HAMPTON ROADS, TO RECEIVE A SCHOLARSHIP FROM THE NORFOLK SPORTS CLUB SCHOLARSHIP FOUNDATION. THE SCHOLARSHIP SHALL PAY FOR TUITION, ROOM AND BOARD, AND OTHER COLLEGE EXPENSES BILLED DIRECTLY TO THE FOUNDATION, (THE SCHOLARSHIP AMOUNT AND NUMBER OF SCHOLARSHIPS SHALL BE PREVIOUSLY DETERMINED BY THE BOARD OF TRUSTEES) BY A COLLEGE OR UNIVERSITY WITHIN THE COMMONWEALTH OF VIRGINIA.

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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 $6,080

Program Service Revenue $0

Investment Income $64,831

Other Revenue $0

TOTAL REVENUE $70,911

Expense Breakdown

Grants Paid $33,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $39,384

Other Expenses $6,384

TOTAL EXPENSES $39,384

Year-over-Year Comparison

	2023	2022	Change
Revenue	$70,911	$70,000	+0.0%
Expenses	$39,384	$39,300	+0.0%
Net Income	$31,527	$30,700	+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

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
BILL EMERSON	CHAIRMAN	0.50	Director	$0	$0	$0
AKEEM PROSSER	PRESIDENT	0.50	Director	$0	$0	$0
DAN EDWARDS	1ST VICE PRESIDENT	0.50	Director	$0	$0	$0
JIM HOFFOWER	2ND VICE PRESIDENT	0.50	Director	$0	$0	$0
ERIN ROUND	SECRETARY	0.50	Director	$0	$0	$0
JOE MONACO	TREASURER	0.50	Director	$0	$0	$0
HOWARD GORDON	TRUSTEE	0.50	Director	$0	$0	$0
JACK ANKERSON	TRUSTEE	0.50	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
2023	$70,911	$39,384	$980,566	$31,527

NORFOLK SPORTS CLUB SCHOLARSHIP FOUNDATION