Friends of Southwest Virginia

Analysis

Friends of Southwest Virginia is a registered charity in United States, based in Abingdon, VA. It received its IRS tax-exemption ruling in November 2011, 15 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Friends of Southwest Virginia reported income of $2.1m and spending of $2.1m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.0m to $2.1m (+3.7%), an average of +0.9% a year. The sharpest change came in the year to June 2023, when income rose by 24%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of Southwest Virginia sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within VA. Charities of a similar size with the same main cause include Palace of Fine Arts League Inc ($2.1m), San Francisco Performing Arts Center Foundation ($2.1m) and Center for Arts in Natick ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 8.6% of the total. Other salaries and wages came to $132k. At year end it held assets of $1.2m against liabilities of $1.0m, net assets of $177k. It reported 12 employees.