Virginias Gateway Region Inc

Analysis

Virginias Gateway Region Inc is a registered charity in United States, based in Colonial HGTS, VA. It received its IRS tax-exemption ruling in January 2005, 21 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic 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 June 2023, Virginias Gateway Region Inc reported income of $1.6m and spending of $1.9m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $772k to $1.6m (+105%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 120%. Over the whole period it spent 109% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Virginias Gateway Region Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within VA. Charities of a similar size with the same main cause include Career School of Ny Inc ($1.6m), Community Health and Education Foundation ($1.6m) and Steepletown Neighborhood Services Inc ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $2.8m against liabilities of $238k, net assets of $2.6m.