The Faison Center Inc

Analysis

The Faison Center Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in November 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Faison Center Inc reported income of $20.7m and spending of $19.3m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $27.2m to $20.7m (-24%), an average of -6.6% a year. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Faison Center Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Valley Christian Schools ($20.7m), Goodwin College Magnet Schools Inc ($20.7m) and Hackensack Meridian Health Inc ($20.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 15% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $1.7m (9.0% of expenses). Other salaries and wages came to $11.0m. At year end it held assets of $64.0m against liabilities of $14.1m, net assets of $50.0m. It reported 399 employees.