Virginia Basketball Academy Foundation

Analysis

Virginia Basketball Academy Foundation is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in August 2008, 18 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 Basketball Academy Foundation reported income of $560k and spending of $626k, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $568k to $560k (-1.4%), an average of -0.3% a year. The sharpest change came in the year to June 2021, when income rose by 22%. Over the whole period it spent 97% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Virginia Basketball Academy Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within VA. Charities of a similar size with the same main cause include Global Camps Africa Inc ($560k), North Bay Youth Soccer League ($560k) and Indiana State Fair Foundation Inc ($560k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 6.4% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $127k (20% of expenses). Other salaries and wages came to $177k. At year end it held assets of $79k against liabilities of $0, net assets of $79k. It reported 30 employees.