The Southeast Virginia Community Foundation

Analysis

The Southeast Virginia Community Foundation is a registered charity in United States, based in Chesapeake, VA. It received its IRS tax-exemption ruling in August 2009, 17 years ago. 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, The Southeast Virginia Community Foundation reported income of $268k and spending of $1.2m, spending 467% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.2m to $268k (-88%), an average of -41% a year. The sharpest change came in the year to December 2023, when income dropped by 71%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Southeast Virginia Community Foundation sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within VA. Charities of a similar size with the same main cause include Dow City Arion Community Fire Department Inc ($268k), Little League Baseball Inc ($268k) and Bible & Common Prayer Book Society of the Episcopal Church ($268k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 143% of the total. Compensation of current officers, directors and key employees was $81k (6.5% of expenses). Other salaries and wages came to $75k. At year end it held assets of $16.9m against liabilities of $1.8m, net assets of $15.1m. It reported 3 employees.