RICHMOND MAIN STREET INITIATIVE INC (EIN 680481132) - Form 990 Financial Analysis & Trantor Score

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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

2001

Legal Domicile

Principal Officer

DIEGO GARCIA

Phone

5102364050

Tax Period

2023-01-01 to 2023-12-31

RICHMOND MAIN STREET INITIATIVE INC, founded in 2001, is a small nonprofit in the Community Improvement sector that reported $237K in total revenue in fiscal year 2023. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $342K exceeded revenue, resulting in a 44% operating deficit.

Mission

TO PROMOTE THE REVITALIZATION OF HISTORIC DOWNTOWN RICHMOND DISTRICT, CREATE AREA BEAUTIFICATION AND TO AID IN THE ALLEVIATION OF UNEMPLOYMENT.

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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 $202,521

Program Service Revenue $34,931

Investment Income $0

Other Revenue $0

TOTAL REVENUE $237,452

Expense Breakdown

Grants Paid $0

Salaries & Benefits $157,417

Fundraising Expenses $0

Program Expenses $294,760

Other Expenses $184,550

TOTAL EXPENSES $341,967

Year-over-Year Comparison

	2023	2022	Change
Revenue	$237,452	$310,599	-0.2%
Expenses	$341,967	$340,431	+0.0%
Net Income	$-104,515	$-29,832	+2.5%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DIEGO GARCIA	CHAIR	1.00	Officer Director	$0	$0	$0
CYNTHIA HADEN	BOARD MEMBER	1.00	Director	$0	$0	$0
DANIEL PERRI	VICE CHAIR	1.00	Officer Director	$0	$0	$0
SARAH WALLY	TREASURER	1.00	Officer Director	$0	$0	$0
BILLY WARD	BOARD MEMBER	1.00	Director	$0	$0	$0
YVETTE WILLIAMS	SECRETARY	1.00	Officer 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	$237,452	$341,967	$127,617	$-104,515
2022	$310,599	$340,431	$240,714	$-29,832
2021	$469,176	$320,933	$263,399	$148,243
2020	$320,257	$340,430	$157,089	$-20,173
2019	$403,400	$388,708	$157,104	$14,692
2018	$448,376	$429,618	$170,311	$18,758

RICHMOND MAIN STREET INITIATIVE INC