Virginia Education Foundation

Analysis

Virginia Education Foundation is a registered charity in United States, based in Madison, VA. It received its IRS tax-exemption ruling in April 2018, 8 years ago. Its declared purposes cover education, which this site groups under education and training. 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 February 2024, Virginia Education Foundation reported income of $2.7m and spending of $1.9m, leaving 30% of income unspent that year. Across the 5 years on record, from February 2020 to February 2024, income grew from $723k to $2.7m (+270%), an average of +39% a year. The sharpest change came in the year to February 2021, when income rose by 225%. Over the whole period it spent 78% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virginia Education Foundation sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include East Columbus Drop Back in ($2.7m), District Council 5 Apprenticeship and Training Trust Fund ($2.7m) and The Wily Network Inc ($2.7m).

On its Form 990 for the period ending February 2024, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $100k (5.3% of expenses). At year end it held assets of $3.0m against liabilities of $600k, net assets of $2.4m.