SOVA INNOVATION HUB CORPORATION

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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

2019

Legal Domicile

Principal Officer

THOMAS DERISO

Phone

4345701301

Tax Period

2024-07-01 to 2025-06-30

SOVA INNOVATION HUB CORPORATION, founded in 2019, is a small nonprofit in the Community Improvement sector that reported $716K in total revenue in fiscal year 2024. Revenue surged 43% from the prior year, signaling strong growth momentum.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT AND ENCOURAGE INNOVATION FOR THE BENEFIT OF THE COMMUNITIES AND CITIZENS OF SOUTHERN VIRGINIA BY OFFERING IMPACTFUL PROGRAMMING FOR DIGITAL SKILLS EDUCATION AND WORKFORCE TRAINING.

Program Service Accomplishments

Program 1

Expenses: $446,388

TO PROMOTE ECONOMIC DEVELOPMENT AND ENCOURAGE INNOVATION FOR THE BENEFIT OF THE COMMUNITIES AND CITIZENS OF SOUTHERN VIRGINIA BY OFFERING IMPACTFUL PROGRAMMING FOR DIGITAL SKILLS EDUCATION AND...

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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 $643,728

Program Service Revenue $72,696

Investment Income $0

Other Revenue $0

TOTAL REVENUE $716,424

Expense Breakdown

Grants Paid $13,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $446,388

Other Expenses $735,858

TOTAL EXPENSES $749,358

Year-over-Year Comparison

	2024	2023	Change
Revenue	$716,424	$502,048	+0.4%
Expenses	$749,358	$511,330	+0.5%
Net Income	$-32,934	$-9,282	+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

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
THOMAS DERISO	CHAIRMAN	1.00	Officer Director	$0	$0	$0
JEREMY SATTERFIELD	VICE CHAIR	1.00	Officer Director	$0	$0	$0
PHILLIP LLOYD	TREASURER	1.00	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	$716,424	$749,358	$2,282,962	$-32,934
2024	$502,048	$511,330	$1,430,082	$-9,282
2023	$716,186	$750,265	$1,615,558	$-34,079
2022	$890,987	$584,357	$1,222,252	$306,630
2021	$961,279	$395,340	$798,105	$565,939
2020	$227,500	$292	$227,475	$227,208