NEW RIVER VALLEY WORKS INC

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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

2017

Legal Domicile

Principal Officer

Kevin Lindamood

Phone

5404405775

Tax Period

2023-01-01 to 2023-12-31

NEW RIVER VALLEY WORKS INC, founded in 2017, is a micro nonprofit in the Community Improvement sector that reported $27K in total revenue in fiscal year 2023. Revenue fell 57% from the prior year — a significant decline worth monitoring. Expenses of $65K exceeded revenue, resulting in a 141% operating deficit.

Mission

Purchase underutilized commercial space and lease to local industrial enterprises on favorable terms to attract tenants to Pulaski VA. The objective is to provide employment opportunities and reduce poverty and blight.

Program Service Accomplishments

Program 1

Expenses: $58,441 Revenue: $26,278

Lease property to qualifying organizations

Program 2

Expenses: $1,366 Revenue: $0

Employ individuals domiciled in Virginia on a part-time basis and provide experience and training in essential operating functions of a small business or organization.

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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 $0

Program Service Revenue $26,278

Investment Income $0

Other Revenue $648

TOTAL REVENUE $26,926

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $59,807

Other Expenses $64,983

TOTAL EXPENSES $64,983

Year-over-Year Comparison

	2023	2022	Change
Revenue	$26,926	$62,918	-0.6%
Expenses	$64,983	$71,999	-0.1%
Net Income	$-38,057	$-9,081	+3.2%

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

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
Kevin H Lindamood	President	3.00	Officer Director	$0	$0	$0
Hannah C Spongberg	Vice President Secretary	3.00	Officer Director	$0	$0	$0
Jennifer M Grogan	Vice President Treasurer	0.00	Officer Director	$0	$0	$0
Dirk S Gold	Director	0.00	Director	$0	$0	$0
William M McMillan	Director	0.00	Director	$0	$0	$0
Dylan W Taylor	Director	0.00	Director	$0	$0	$0
Levi I Woodward	Director	0.00	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	$26,926	$64,983	$1,202,842	$-38,057
2022	$62,918	$71,999	$1,208,451	$-9,081
2021	$32,914	$51,403	$1,239,959	$-18,489
2020	$9,251	$69,600	$1,215,794	$-60,349
2019	$45,584	$41,113	$1,271,853	$4,471
2018	$72,504	$12,082	$1,292,697	$60,422