Virginia Community Foundation

Analysis

Virginia Community Foundation is a registered charity in United States, based in Virginia, MN. It received its IRS tax-exemption ruling in December 2000, 26 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 Community Foundation reported income of $2.6m and spending of $2.6m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $297k to $2.6m (+769%), an average of +72% a year. The sharpest change came in the year to December 2023, when income rose by 463%. Over the whole period it spent 98% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Virginia Community Foundation 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 88th percentile, and in the 87th percentile within MN. Charities of a similar size with the same main cause include Dcu for Kids ($2.6m), LS Classic Foundation ($2.6m) and Learningquest-Stanislaus Literacy Centers ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Compensation of current officers, directors and key employees was $40k (1.6% of expenses). Other salaries and wages came to $28k. At year end it held assets of $5.2m against liabilities of $24k, net assets of $5.2m. It reported 2 employees.