Meals of Virginia Beach Inc

Analysis

Meals of Virginia Beach Inc is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in October 1974, 52 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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 December 2023, Meals of Virginia Beach Inc reported income of $254k and spending of $367k, spending 144% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $197k to $254k (+29%), an average of +6.6% a year. The sharpest change came in the year to December 2020, when income rose by 37%. Over the whole period it spent 127% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Meals of Virginia Beach Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 58th percentile within VA. Charities of a similar size with the same main cause include BTST Cares Inc ($254k), Elevations-A Childrens Therapy Resource Foundation ($254k) and Generous Hands Inc ($254k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $40k (11% of expenses). Other salaries and wages came to $16k. At year end it held assets of $443k against liabilities of $612, net assets of $443k. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.