Virginia Foundation for Community College Education

Analysis

Virginia Foundation for Community College Education is a registered charity in United States, based in N Chesterfld, VA. It received its IRS tax-exemption ruling in December 1975, 51 years ago. 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 Foundation for Community College Education reported income of $5.0m and spending of $4.8m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.5m to $5.0m (+12%), an average of +2.8% a year. The sharpest change came in the year to June 2022, when income rose by 87%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Virginia Foundation for Community College Education sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within VA. Charities of a similar size with the same main cause include National Center for LGBTQ Rights ($5.0m), Virginia Aquarium & Marine Science Center Foundation Inc ($5.0m) and Three Oaks Homeless Shelter Inc ($5.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% of the total. Other salaries and wages came to $719k. At year end it held assets of $15.5m against liabilities of $637k, net assets of $14.9m.