Hampton Roads Workforce Foundation

Analysis

Hampton Roads Workforce Foundation is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in April 2003, 23 years ago. Its declared purposes cover employment, 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, Hampton Roads Workforce Foundation reported income of $1.3m and spending of $1.1m, spending 87% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $592k to $1.3m (+115%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 147%. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Hampton Roads Workforce Foundation 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 82nd percentile, and in the 82nd percentile within VA. Charities of a similar size with the same main cause include Living Development Concepts Inc ($1.3m), Marva Workshop Inc ($1.3m) and Bergmann Center Incorporated ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. It paid $84k in professional fundraising fees. At year end it held assets of $639k against liabilities of $297k, net assets of $343k.