Virtuous Inc

Analysis

Virtuous Inc is a registered charity in United States, based in Aberdeen, MD. It received its IRS tax-exemption ruling in July 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2022, Virtuous Inc reported income of $1.8m and spending of $1.4m, spending 81% of its income. Across the 3 years on record, from June 2020 to June 2022, income grew from $13k to $1.8m (+13247%), an average of +1055% a year. The sharpest change came in the year to June 2021, when income rose by 7819%. Over the whole period it spent 128% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Virtuous Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MD. Charities of a similar size with the same main cause include Watertown Urban Mission Inc ($1.8m), Community Action Service Center ($1.8m) and Serving Older Adults of Southeast Wisconsin Inc ($1.8m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $49k. At year end it held assets of $278k against liabilities of $63k, net assets of $215k. It reported 2 employees.