Virginia Council on Economic Education

Analysis

Virginia Council on Economic Education is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in December 1970, 56 years ago. Its declared purposes cover social science, which this site groups under arts, culture, heritage and science. 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 Council on Economic Education reported income of $1.0m and spending of $1.0m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $1.0m (-7.6%), an average of -1.9% a year. The sharpest change came in the year to June 2022, when income rose by 28%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Virginia Council on Economic Education sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within VA. Charities of a similar size with the same main cause include Commonwealth Youth Choirs ($1.0m), The Woodlands Childrens Museum ($1.0m) and Maryhill Museum of Art ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% and program service revenue 3.1% of the total. Compensation of current officers, directors and key employees was $132k (13% of expenses). Other salaries and wages came to $286k. At year end it held assets of $1.7m against liabilities of $739, net assets of $1.7m. It reported 3 employees.