Virginia Beach Library Foundation

Analysis

Virginia Beach Library Foundation is a registered charity in United States, based in Virginia Beach, VA. It received its IRS tax-exemption ruling in August 2010, 16 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 June 2024, Virginia Beach Library Foundation reported income of $158k and spending of $240k, spending 151% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $150k to $158k (+5.8%), an average of +1.4% a year. The sharpest change came in the year to June 2024, when income rose by 23%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virginia Beach Library Foundation sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 48th percentile within VA. Charities of a similar size with the same main cause include Hamlin Community Library ($158k), Woodlands Girls Lacrosse Association ($158k) and New York Videogame Critics Circle Inc ($158k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 49% of the total. At year end it held assets of $2.0m against liabilities of $302k, net assets of $1.7m.