Virtual Enterprises International Inc

Analysis

Virtual Enterprises International Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Virtual Enterprises International Inc reported income of $3.2m and spending of $4.0m, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.7m to $3.2m (-13%), an average of -3.5% a year. The sharpest change came in the year to June 2020, when income dropped by 20%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virtual Enterprises International Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include College of Coastal Georgia Foundation Inc ($3.2m), Cornerstone Christian Schools ($3.2m) and Falcon Ridge Public Charter School ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $567k (14% of expenses). Other salaries and wages came to $1.5m. It paid $56k in professional fundraising fees. At year end it held assets of $1.6m against liabilities of $336k, net assets of $1.3m. It reported 45 employees.