Vmi Alumni Association

Nonprofit profile at a glance

EIN
540515753
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lexington, VA, USA
Phone
5404647383
Rating
66
Verdict
SUPPORTED
Rating confidence
Standard

Official website

Reported finances

Revenue
$1,207,792
Expenses
$1,205,558
Assets
$604,910
Liabilities
$434,404

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

Leadership & pay

31 people listed

Executive titles in this filing

  • David L Prasnicki (Chief Executive Officer)

Highest reported compensation

  • David L Prasnicki (Chief Executive Officer): $298,915 total reported compensation
  • Crissy S Elliott (Chief Financial Officer): $216,271 total reported compensation
  • Kevin A Ryan (Financial Controller): $168,110 total reported compensation

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

Overview

Mission

The purpose of the VMI Alumni Association is to organize the alumni of VMI into one general body.

What it reported doing in 2024

Preparation of alumni newsletters and publications to recruit new members and build alumni unity and pride, alumni recruiting and alumni conventions.

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
Distribution model
Direct operator. The filing allocates 84% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 42
  • Transparency & Controls: 88
  • Accountability: 100
  • Sustainability: 27
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.9%; rating input score 44
  • Program expense ratio: 43.9%; rating input score 44
  • Fundraising efficiency: $6.89 raised per $1 spent on fundraising; rating input score 26; 26th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.2%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.72; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 15.6%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: -8.8% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -3.4% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 43.9% of revenue deployed · 43.9% of spending went to programs
  • Governance: 28 of 28 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $529K in reported program spending
  • Leadership: top reported pay $299K · 31 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 4 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 44/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 44/100.
  • High — Financial Efficiency: Fundraising efficiency scored 26/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.