Virginia Ship Repair Association

Nonprofit profile at a glance

EIN
541275635
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Norfolk, VA, USA
Phone
7572337034
Rating confidence
Limited

Official website

Reported finances

Revenue
$1,540,346
Expenses
$1,435,049
Assets
$2,079,089
Liabilities
$856,993

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • WILLIAM CROW (PRESIDENT/CEO)

Highest reported compensation

  • WILLIAM CROW (PRESIDENT/CEO): $234,937 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To maintain focus on and coordinate resource to address and resolve the issues, challenges, and opportunities facing the ship repair industry in Virginia across the nation.

What it reported doing in 2024

A strategic mission of the Virginia ship repair association (vsra) is to maintain continuous efforts to ensure awareness of the impact of the ship repair industry in Virginia among local, state, and federal entities, as well as the community at large. Among the strategic goals of the vsra is to make the public, as well as lawmakers, aware of the significance and national ramifications of ship repair, not just as a vital economic foundation for the hampton roads area, but also as a critical national security asset. Additional strategic goals of the vsra are to continuously ensure public awareness of the industry workforce needs, diverse career paths, as well as multitudinous training and credentialing opportunities available in the ship repair industry.

Operating model

Revenue model
Other-operating. 81% of the money available for current operations came from other operating revenue.
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: 70
  • Accountability: 90
  • Sustainability: 47
  • Growth: 100

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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.8%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.45; rating input score 55; 55th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 16.4%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 17 of 17 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $235K · 18 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Sustainability: Total-asset coverage ratio scored 55/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.