VIRGINIA ASSOCIATION OF MUSEUMS

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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

1968

Legal Domicile

Principal Officer

KAREN L DALY

Phone

8043583171

Tax Period

2024-07-01 to 2025-06-30

VIRGINIA ASSOCIATION OF MUSEUMS, founded in 1968, is a small nonprofit in the Arts, Culture & Humanities sector that reported $307K in total revenue in fiscal year 2024. Expenses of $297K left a modest 3% surplus.

Mission

THE VIRGINIA ASSOCIATION OF MUSEUMS IS A STATEWIDE NETWORK SERVING THE MUSEUM COMMUNITY. THE ASSOCIATION'S MISSION STATEMENT IS "THE VIRGINIA ASSOCIATION OF MUSEUMS HELPS OUR MUSEUM COMMUNITY SUCCEED".

Program Service Accomplishments

Program 1

Expenses: $237,899 Revenue: $119,339

PROMOTED AN UNDERSTANDING AND INTEREST IN VIRGINIA'S CULTURAL, HISTORICAL AND SCIENTIFIC HERITAGE. VOLUNTEER SERVICES TO THE ASSOCIATION'S PROGRAMS INCLUDED SPEAKERS, ADMINISTRATIVE AND PROGRAM...

PROMOTED AN UNDERSTANDING AND INTEREST IN VIRGINIA'S CULTURAL, HISTORICAL AND SCIENTIFIC HERITAGE. VOLUNTEER SERVICES TO THE ASSOCIATION'S PROGRAMS INCLUDED SPEAKERS, ADMINISTRATIVE AND PROGRAM DESIGN.

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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 (2024)

Revenue Breakdown

Contributions & Grants $184,392

Program Service Revenue $119,339

Investment Income $3,113

Other Revenue $0

TOTAL REVENUE $306,844

Expense Breakdown

Grants Paid $0

Salaries & Benefits $100,297

Fundraising Expenses $9,530

Program Expenses $237,899

Other Expenses $197,192

TOTAL EXPENSES $297,489

Year-over-Year Comparison

	2024	2023	Change
Revenue	$306,844	$305,982	+0.0%
Expenses	$297,489	$356,449	-0.2%
Net Income	$9,355	$-50,467	-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

100

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
FELICIA ABRAMS	MEMBERSHIP E	2.00	Officer Director	$0	$0	$0
JEFFREY ALLISON	EX-OFFICIO	1.00	Director	$0	$0	$0
SCOTTY ALMANY	DIRECTOR	1.00	Director	$0	$0	$0
PAIGE GIBBONS BACKUS	GOVERNANCE V	2.00	Officer Director	$0	$0	$0
STEVEN BLASHFIELD	RESOURCE DEV	2.00	Officer Director	$0	$0	$0
CHRISTONYA BROWN	EX-OFFICIO	1.00	Director	$0	$0	$0
BETSY CARR	DIRECTOR	1.00	Director	$0	$0	$0
KAREN L DALY	PRESIDENT	3.00	Officer Director	$0	$0	$0
MARY HELEN DELLINGER	DIRECTOR	1.00	Director	$0	$0	$0
VICTORIA DIETZ	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW GIBSON	EX-OFFICIO	1.00	Director	$0	$0	$0
CALLIE HAWKINS	DIRECTOR	1.00	Director	$0	$0	$0
COLLEN HIGGINBOTHAM	DIRECTOR	1.00	Director	$0	$0	$0
EMILY KILGORE	DIRECTOR	1.00	Director	$0	$0	$0
ELAINE MCFADDEN	DIRECTOR	1.00	Director	$0	$0	$0
SAM MCKELVEY	TREASURER	2.00	Officer Director	$0	$0	$0
JULIA ORR	DIRECTOR	1.00	Director	$0	$0	$0
CAMERON PATTERSON	SECRETARY	2.00	Officer Director	$0	$0	$0
MICHAEL PLUMB	DIRECTOR	1.00	Director	$0	$0	$0
JEREMY RAY	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY ROBINSON	COMMUNITY EN	2.00	Officer Director	$0	$0	$0
RENE RODGERS	DIRECTOR	1.00	Director	$0	$0	$0
DORETTE SOBOLEWSKI	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT STROH	PAST PRESIDE	2.00	Officer Director	$0	$0	$0
BRENT WARD	DIRECTOR	1.00	Director	$0	$0	$0
AMANDA WILLIAMS	DIRECTOR	1.00	Director	$0	$0	$0
CASEY JENKINS	EXECUTIVE DI	40.00	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
2025	$306,844	$297,489	$289,082	$9,355
2024	$305,982	$356,449	$247,346	$-50,467
2023	$264,280	$290,209	$274,173	$-25,929
2022	$300,130	$362,190	$266,214	$-62,060
2021	$227,402	$221,944	$376,384	$5,458
2020	$299,747	$329,273	$275,421	$-29,526
2019	$297,899	$281,295	$281,736	$16,604