Virginia Beach Parks and Recreation Foundation

Analysis

Virginia Beach Parks and Recreation Foundation is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in November 2004, 22 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 Beach Parks and Recreation Foundation reported income of $255k and spending of $65k, leaving 74% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $86k to $255k (+197%), an average of +197% a year. The sharpest change came in the year to December 2023, when income rose by 197%. Over the whole period it spent 35% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Virginia Beach Parks and Recreation Foundation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 58th percentile within VA. Charities of a similar size with the same main cause include Storm Trysail Foundation ($255k), Diabetes Camp of West Virginia ($255k) and Buildsoccer ($255k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $441k against liabilities of $0, net assets of $441k.