VIRGINIA FOUNDATION FOR PUBLIC MED… - Form 990 Financial Data

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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

GARY OMETER

Phone

8043201301

Tax Period

2023-07-01 to 2024-06-30

VIRGINIA FOUNDATION FOR PUBLIC MEDIA, founded in 2017, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.8M in total revenue in fiscal year 2023. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $8.2M exceeded revenue, resulting in a 70% operating deficit.

Mission

THE FOUNDATION OPERATES AS A "SUPPORTING ORGANIZATION" BY PROVIDING FUNDING TO SUPPORT THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF VPM MEDIA CORPORATION.

Program Service Accomplishments

Program 1

Expenses: $7,496,488

THE FOUNDATION OPERATES AS A "SUPPORTING ORGANIZATION" BY PROVIDING FUNDING TO SUPPORT THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF VPM MEDIA CORPORATION, A VIRGINIA NONSTOCK CORPORATION AND A...

THE FOUNDATION OPERATES AS A "SUPPORTING ORGANIZATION" BY PROVIDING FUNDING TO SUPPORT THE CHARITABLE AND EDUCATIONAL ACTIVITIES OF VPM MEDIA CORPORATION, A VIRGINIA NONSTOCK CORPORATION AND A PUBLICLY SUPPORTED ORGANIZATION DESCRIBED IN SECTIONS 501(C)(3), 509(A)(1), AND 170(B)(1)(A)(VI) OF THE INTERNAL REVENUE CODE.

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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 $0

Investment Income $4,771,755

Other Revenue $36,863

TOTAL REVENUE $4,808,618

Expense Breakdown

Grants Paid $7,496,488

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $7,496,488

Other Expenses $681,294

TOTAL EXPENSES $8,177,782

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,808,618	$7,231,441	-0.3%
Expenses	$8,177,782	$9,407,592	-0.1%
Net Income	$-3,369,164	$-2,176,151	+0.5%

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

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

$1,059,335

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM CHENG	DIRECTOR	1.00	Director	$0	$0	$0
SHEILA CORCORAN	DIRECTOR	1.00	Director	$0	$0	$0
PHILIP GOODPASTURE	DIRECTOR	1.00	Director	$0	$0	$0
PATTY MERRILL	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN NICHOLSON	DIRECTOR	1.00	Director	$0	$0	$0
KAREN SKIDMORE	DIRECTOR	1.00	Director	$0	$0	$0
TING XU	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL WILLIAMS	CHAIR	1.00	Officer Director	$0	$0	$0
RICH DIEMER	VICE-CHAIR	1.00	Officer Director	$0	$0	$0
DANIEL SMYTHE	CHIEF INVESTMENT OFFICER	1.00	Officer	$0	$29,104	$324,561
JAYME SWAIN	CEO AND PRESIDENT	1.00	Officer	$0	$28,499	$464,571
GARY OMETER	CFO	1.00	Officer	$0	$18,749	$270,203

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	No data	No data	No data	No data
2024	$4,808,618	$8,177,782	$179,716,013	$-3,369,164
2023	$7,231,441	$9,407,592	$165,262,196	$-2,176,151
2022	$8,019,464	$10,771,383	$158,897,506	$-2,751,919
2021	$5,025,363	$7,630,453	$185,376,659	$-2,605,090
2020	$3,146,825	$8,229,359	$158,411,435	$-5,082,534
2019	$4,051,257	$7,561,250	$159,626,521	$-3,509,993
2018	$160,331,735	$1,808,938	$158,561,636	$158,522,797
2018	$160,331,735	$1,808,938	$158,561,636	$158,522,797

VIRGINIA FOUNDATION FOR PUBLIC MEDIA