Science Museum of Virginia Foundation Incorporated

Analysis

Science Museum of Virginia Foundation Incorporated is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in August 1972, 54 years ago. Its declared purposes cover arts, culture and humanities, 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 2024, Science Museum of Virginia Foundation Incorporated reported income of $3.7m and spending of $4.9m, spending 132% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.6m to $3.7m (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2021, when income rose by 129%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Science Museum of Virginia Foundation Incorporated sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within VA. Charities of a similar size with the same main cause include Sanford-Springvale Historical Society ($3.7m), Organizers Institute South and West Iaf ($3.7m) and North Coast Repertory Theatre a Non Profit Corporation ($3.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 66% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $224k (4.5% of expenses). Other salaries and wages came to $539k. At year end it held assets of $33.1m against liabilities of $2.5m, net assets of $30.6m. It reported 9 employees.