Civic Intelligence

Virginia Ship Repair Association

EIN 54-1275635 • 501(c)6 • Norfolk, VA

Profile

Nonprofit trade association coordinating member resources on issues, challenges, and opportunities facing the ship repair industry in virginia and across the nation.

101 W Main Street Suite 5500Norfolk, VA 23510

www.viginiashiprepair.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

79th percentile

0.41x

Higher debt load relative to assets than 79% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

85th percentile

0.56x

Higher debt load relative to revenue than 85% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Net Margin

58th percentile

6.8%

Higher net margin than 58% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

78th percentile

$234,937

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 15.3% of source-year revenue.

501(c)6 • $1M-$5M nonprofits • Source year 2024

Asset Growth

40th percentile

2.1%

Faster asset growth than 40% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

56th percentile

7.8%

Faster revenue growth than 56% of similar nonprofits.

501(c)6 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$2,079,089

Up $42,118 (+2.1%) from 2023

Liabilities

Down

$856,993

Down $63,179 (-6.9%) from 2023

Net Assets

Up

$1,222,096

Up $105,297 (+9.4%) from 2023

Revenue

Up

$1,540,346

Up $110,863 (+7.8%) from 2023

Expenses

Up

$1,435,049

Up $107,911 (+8.1%) from 2023

Net Income

Up

$105,297

Up $2,952 (+2.9%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2010: $337,428Liabilities 2010: $64,781Net Assets 2010: $272,6472010Assets 2011: $514,850Liabilities 2011: $138,975Net Assets 2011: $375,8752011Assets 2012: $475,259Liabilities 2012: $105,854Net Assets 2012: $369,4052012Assets 2013: $528,612Liabilities 2013: $96,675Net Assets 2013: $431,9372013Assets 2014: $576,736Liabilities 2014: $90,004Net Assets 2014: $486,7322014Assets 2015: $573,395Liabilities 2015: $59,511Net Assets 2015: $513,8842015Assets 2016: $601,691Liabilities 2016: $68,155Net Assets 2016: $533,5362016Assets 2017: $636,873Liabilities 2017: $84,406Net Assets 2017: $552,4672017Assets 2018: $769,603Liabilities 2018: $97,724Net Assets 2018: $671,8792018Assets 2019: $956,799Liabilities 2019: $147,225Net Assets 2019: $809,5742019Assets 2020: $1,006,478Liabilities 2020: $159,003Net Assets 2020: $847,4752020Assets 2021: $1,175,064Liabilities 2021: $176,802Net Assets 2021: $998,2622021Assets 2022: $2,069,863Liabilities 2022: $1,055,409Net Assets 2022: $1,014,4542022Assets 2023: $2,036,971Liabilities 2023: $920,172Net Assets 2023: $1,116,7992023Assets 2024: $2,079,089Liabilities 2024: $856,993Net Assets 2024: $1,222,0962024

Highlighted filing

2024

Assets$2,079,089
Liabilities$856,993
Net Assets$1,222,096

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0Expenses 2010: $567,9722010Revenue 2011: $795,660Expenses 2011: $692,432Net Income 2011: $103,2282011Expenses 2012: $920,7472012Revenue 2013: $873,216Expenses 2013: $810,684Net Income 2013: $62,5322013Revenue 2014: $912,920Expenses 2014: $858,125Net Income 2014: $54,7952014Revenue 2015: $918,518Expenses 2015: $891,366Net Income 2015: $27,1522015Revenue 2016: $839,739Expenses 2016: $820,087Net Income 2016: $19,6522016Revenue 2017: $1,003,342Expenses 2017: $984,411Net Income 2017: $18,9312017Revenue 2018: $1,181,578Expenses 2018: $1,062,166Net Income 2018: $119,4122018Revenue 2019: $1,286,044Expenses 2019: $1,148,349Net Income 2019: $137,6952019Revenue 2020: $1,058,726Expenses 2020: $1,020,825Net Income 2020: $37,9012020Revenue 2021: $1,282,295Expenses 2021: $1,131,508Net Income 2021: $150,7872021Revenue 2022: $1,225,008Expenses 2022: $1,208,816Net Income 2022: $16,1922022Revenue 2023: $1,429,483Expenses 2023: $1,327,138Net Income 2023: $102,3452023Revenue 2024: $1,540,346Expenses 2024: $1,435,049Net Income 2024: $105,2972024

Highlighted filing

2024

Revenue$1,540,346
Expenses$1,435,049
Net Income$105,297

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.08$0.86$1.22$1.54$1.44$0.11
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.04$0.92$1.12$1.43$1.33$0.10
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.07$1.06$1.01$1.23$1.21$0.02
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.18$1.00$1.28$1.13$0.15
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.01$0.16$0.85$1.06$1.02$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.96$0.15$0.81$1.29$1.15$0.14
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.10$0.67$1.18$1.06$0.12
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$0.08$0.55$1.00$0.98$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.60$0.07$0.53$0.84$0.82$0.02
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.06$0.51$0.92$0.89$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.58$0.09$0.49$0.91$0.86$0.05
2013Detailed filing. Detailed filing data is available for this year.$0.53$0.10$0.43$0.87$0.81$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.11$0.37$0.92
2011Summary only. Only limited summary data is available for this year.$0.51$0.14$0.38$0.80$0.69$0.10
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.06$0.27$0.57
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.2
Gross Receipts
$1,282,295
Mission and Program Overview

Mission

Nonprofit trade association coordinating member resources on issues, challenges, and opportunities facing the ship repair industry in virginia and across the nation.

Nonprofit trade association coordinating member resources on issues, challenges, and opportunities facing ship repair industry in virginia and across the nation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$483,860$664,476▲ $180,616
Savings and Temporary Cash Investments$375,418$376,400▲ $982
Land, Buildings, and Equipment, Net$110,608$105,948▼ $4,660
Prepaid Expenses and Deferred Charges$12,000$0▼ $12,000
Accounts Receivable$845$4,493▲ $3,648
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,006,478$1,175,064▲ $168,586
Other Assets Total$23,747$23,747→ $0
Liabilities
Deferred Revenue$112,065$124,975▲ $12,910
Accounts Payable and Accrued Expenses$46,938$51,827▲ $4,889
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$159,003$176,802▲ $17,799
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$847,475$998,262▲ $150,787
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$847,475$998,262▲ $150,787
Total Liabilities and Net Assets / Fund Balance$1,006,478$1,175,064▲ $168,586

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$40,923$126,478$167,401
Equipment$59,068$52,861$111,929
Leasehold Improvements$5,957$1,888$7,845
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
William CrowPresident/CEOPT$161,480$48,310$209,790

Board Members and Trustees

NameTitle
Thomas EpleyChairman
Kevin TerryVice Chairman
Brian HollandDirector
Caroline TaylorDirector
Don EvertonDirector
Jordan WebbDirector
Kelly BrownDirector
Mark JonesDirector
Mike BruneauDirector
Mike JohnsonDirector
Paul CliffordDirector
Thomas GodfreyDirector
Tom TaylorDirector
W Perry BinghamDirector
Ray WittersheimSecretary/treasurer/director
Revenue and Support

Revenue Composition

Contributions and Grants
$51,350
Program Service Revenue
$1,151,725
Investment Income
$1,603
Other Revenue
$77,617
All Other Contributions
$51,350
Change in Net Assets
$150,787
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$662,133
Other Expenses$469,375
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$312,698
Current Officers, Directors, Trustees, and Key Employees---$209,790
Occupancy---$126,911
Pension Plan Contributions---$66,253
Other Employee Benefits---$39,410
Information Technology---$38,538
Advertising---$35,365
Payroll Taxes---$33,982
Depreciation Depletion---$27,342
Travel---$23,929
Other Expenses---$22,861
Office Expenses---$12,249
Fees for Services Accounting---$11,366
Conferences and Meetings---$8,787
Insurance---$7,903
All Other Expenses---$-8,554
Total Functional Expenses$0$0$0$1,131,508
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Line 6

The association has members.

Part VI, Line 7A

The sixteen members of the governing body (vsra board of directors) each serve two year terms. Each year in the late summer, early fall, a nominating committee will meet and compile a slate of board nominees for the upcoming year. This slate of directors is then presented at a follow-on board meeting for approval to provide to the membership as the recommended board of directors for the upcoming year. This slate is then presented at a fall follow-on general membership meeting for approval by the members as specified by the association by-laws.

Part VI, Line 8B

No committee has authority to act on behalf of the governance body.

Part VI, Line 11B

The association distributes a copy of the 990 to all board of directors electronically prior to filing.

Part VI, Line 15A

The executive committee, made up of the major ship repairer board members, reviews the performance of the president/ceo each year. Based on performance and contemporaneous data, the committee recommends to the chairman the amount of annual compensation. The board of directors approves president/ceo compensation at the end of each year.

Part VI, Line 15B

There are no other officers or key employees of the association. However as part of the budget process, the finance committee reviews the president's recommendation for total amount of salary and wages ofassociation employees, which are the basis for the appropriate expense lines in the budget that is recommended to the board of directors. The board of directors approves the association operating budget at the end of each year.

Part VI, Line 19

The association makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Virginia Ship Repair Association
EIN
54-1275635
In Care Of
% THE ASSOCIATION
Phone
7572337034
Address
101 W Main Street Suite 5500, Norfolk, VA 23510

Signing Officer

Name
William Crow
Title
President/CEO
Phone
7572337035
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Crow
Formed
1981
Legal Domicile
Va
Voting Board Members
15
Independent Board Members
15
Employees
8
Volunteers
15

Preparer

Firm
Bdo USA Llp
Address
150 Boush Street Suite 1100, Norfolk, VA 23510
Preparer
Marc Berger
Phone
7576407190
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2

Vsra is exempt from federal and state income taxes under section 501(c)(6) of the internal revenue code, except on net income, if any, resulting from unrelated business activities. However, the organization is required to file income tax returns. Tax years before 2018 are no longer subject to federal or state income examinations. Management continually evaluates tax positions reflected in the organization's tax filing and does not believe any material uncertain tax positions exist.

Raw XML AppendixShowing 400 of 544 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0true
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt046938
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt051827
IRS990/AccountsReceivableGrp/BOYAmt0845
IRS990/AccountsReceivableGrp/EOYAmt04493
IRS990/AcctCompileOrReviewBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0NONPROFIT TRADE ASSOCIATION COORDINATING MEMBER RESOURCES ON ISSUES, CHALLENGES, AND OPPORTUNITIES FACING SHIP REPAIR INDUSTRY IN VIRGINIA AND ACROSS THE NATION.
IRS990/AdvertisingGrp/TotalAmt035365
IRS990/AllOtherContributionsAmt051350
IRS990/AllOtherExpensesGrp/TotalAmt0-8554
IRS990/AuditCommitteeInd0true
IRS990/BackupWthldComplianceInd0true
IRS990/BenefitsToMembersGrp/TotalAmt00
IRS990/BooksInCareOfDetail/PersonNm0THE ASSOCIATION
IRS990/BooksInCareOfDetail/PhoneNum07572337034
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0101 W MAIN STREET SUITE 5500
IRS990/BooksInCareOfDetail/USAddress/CityNm0NORFOLK
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0VA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd023510
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt0483860
IRS990/CashNonInterestBearingGrp/EOYAmt0664476
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd0false
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0209790
IRS990/CompDisqualPersonsGrp/TotalAmt00
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0true
IRS990/CompensationProcessOtherInd0true
IRS990/ConferencesMeetingsGrp/TotalAmt08787
IRS990/ConflictOfInterestPolicyInd0false
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/CostOfGoodsSoldAmt00
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt051350
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt01603
IRS990/CYOtherExpensesAmt0469375
IRS990/CYOtherRevenueAmt077617
IRS990/CYProgramServiceRevenueAmt01151725
IRS990/CYRevenuesLessExpensesAmt0150787
IRS990/CYSalariesCompEmpBnftPaidAmt0662133
IRS990/CYTotalExpensesAmt01131508
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt01282295
IRS990/DecisionsSubjectToApprovaInd0false
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DeferredRevenueGrp/BOYAmt0112065
IRS990/DeferredRevenueGrp/EOYAmt0124975
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/DepreciationDepletionGrp/TotalAmt027342
IRS990/Desc0A 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.
IRS990/DescribedInSection501c3Ind0false
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt00
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt00
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt08
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EscrowAccountLiabilityGrp/BOYAmt00
IRS990/EscrowAccountLiabilityGrp/EOYAmt00
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/TotalAmt011366
IRS990/FeesForServicesLegalGrp/TotalAmt00
IRS990/FeesForServicesLobbyingGrp/TotalAmt00
IRS990/FeesForServicesManagementGrp/TotalAmt00
IRS990/FeesForServicesOtherGrp/TotalAmt00
IRS990/FeesForServicesProfFundraising/TotalAmt00
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt00
IRS990/ForeignActivitiesInd0false
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignGrantsGrp/TotalAmt00
IRS990/ForeignOfficeInd0false
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IRS990/Form990PartVIISectionAGrp/OfficerInd0X
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IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt150
IRS990/Form990PartVIISectionAGrp/PersonNm0WILLIAM CROW
IRS990/Form990PartVIISectionAGrp/PersonNm1THOMAS EPLEY
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