Virginia New Majority Education Fund

Analysis

Virginia New Majority Education Fund is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in February 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2022, Virginia New Majority Education Fund reported income of $6.4m and spending of $6.2m, spending 97% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $4.5m to $6.4m (+43%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 61%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virginia New Majority Education Fund sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within VA. Charities of a similar size with the same main cause include Wayne State Foundation ($6.4m), Legacy Schools ($6.4m) and Utah Healthcare Institute Inc ($6.4m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $417k (6.7% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $2.5m against liabilities of $995k, net assets of $1.5m.