Virginia War Memorial Foundation Inc

Analysis

Virginia War Memorial Foundation Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in October 2000, 26 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Virginia War Memorial Foundation Inc reported income of $1.4m and spending of $1.1m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.1m to $1.4m (-34%), an average of -9.9% a year. The sharpest change came in the year to December 2021, when income rose by 207%. Over the whole period it spent 42% 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 War Memorial Foundation Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within VA. Charities of a similar size with the same main cause include Salt Lake Music School Foundation ($1.4m), County Theater Inc ($1.4m) and Robot Heart Foundation Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 0.7% of the total. Compensation of current officers, directors and key employees was $252k (23% of expenses). Other salaries and wages came to $154k. At year end it held assets of $10.5m against liabilities of $61k, net assets of $10.5m. It reported 5 employees.