Virginia Elite Spirit Inc

Analysis

Virginia Elite Spirit Inc is a registered charity in United States, based in Midlothian, VA. It received its IRS tax-exemption ruling in August 2007, 19 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Virginia Elite Spirit Inc reported income of $623k and spending of $580k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $144k to $623k (+331%), an average of +44% a year. The sharpest change came in the year to December 2022, when income rose by 217%. Over the whole period it spent 94% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Virginia Elite Spirit Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 74th percentile within VA. Charities of a similar size with the same main cause include Los Alamos Juvenile Justice ($623k), Ascension Flight Soccer Club ($623k) and Connecting Generations Inc ($622k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $5,400 (0.9% of expenses). At year end it held assets of $128k against liabilities of $0, net assets of $128k.