Retail Merchants Association

Nonprofit profile at a glance

EIN
540354670
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Richmond, VA, USA
Phone
8046625500
Rating confidence
Limited

Official website

Reported finances

Revenue
$2,137,934
Expenses
$1,121,245
Assets
$26,176,064
Liabilities
$630,903

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • NANCY THOMAS (CEO/PRESIDENT/SECRETARY/TREASURER)
  • DIANA MCMAHON (VICE PRESIDENT)

Highest reported compensation

  • NANCY THOMAS (CEO/PRESIDENT/SECRETARY/TREASURER): $212,279 total reported compensation
  • DIANA MCMAHON (VICE PRESIDENT): $111,917 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To encourage, stimulate, extend, and promote all locally owned independent businesses in central Virginia.

What it reported doing in 2025

Promoted the retail industry in the central Virginia area through representation before local and state government on behalf of retail and service business issues, educational programs for members and their employees, development of services to assist members, and providing networking opportunities.

Operating model

Revenue model
Investment-supported. 76% of the money available for current operations came from recurring investment income.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 66
  • Accountability: 81
  • Sustainability: 80
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95%; rating input score 95; 25th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 47.6%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 23.35; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 28.9%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -3.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 19 of 20 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $212K · 20 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 8/100.