Virginia Tech Applied Research Corporation

Analysis

Virginia Tech Applied Research Corporation is a registered charity in United States, based in Arlington, VA. It received its IRS tax-exemption ruling in May 2012, 14 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation (type ii) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Virginia Tech Applied Research Corporation reported income of $20.4m and spending of $19.0m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.0m to $20.4m (+85%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 43%. Over the whole period it spent 96% 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 Tech Applied Research Corporation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Columbus Museum of Art ($20.3m), Tuacahn Center for the Arts ($20.4m) and World Monuments Fund Inc ($20.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 62% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $661k (3.5% of expenses). Other salaries and wages came to $7.9m. At year end it held assets of $10.6m against liabilities of $7.0m, net assets of $3.6m. It reported 86 employees.