Virginia Sports Hall of Fame Foundation Inc

Analysis

Virginia Sports Hall of Fame Foundation Inc is a registered charity in United States, based in Portsmouth, VA. It received its IRS tax-exemption ruling in February 2007, 19 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 June 2023, Virginia Sports Hall of Fame Foundation Inc reported income of $345k and spending of $326k, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $750k to $345k (-54%), an average of -18% a year. The sharpest change came in the year to June 2020, when income dropped by 47%. Over the whole period it spent 167% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Virginia Sports Hall of Fame Foundation 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 64th percentile, and in the 64th percentile within VA. Charities of a similar size with the same main cause include Norcal Flag Football ($345k), Mountain Football Conference ($345k) and Central Oregon Airshow ($345k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 108% of the total. Compensation of current officers, directors and key employees was $83k (26% of expenses). Other salaries and wages came to $77k. At year end it held assets of $258k against liabilities of $14k, net assets of $244k. It reported 2 employees.