Vermilion Heritage Foundation

Analysis

Vermilion Heritage Foundation is a registered charity in United States, based in Danville, IL. It received its IRS tax-exemption ruling in November 2018, 8 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, Vermilion Heritage Foundation reported income of $692k and spending of $791k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.6m to $692k (-85%), an average of -38% a year. The sharpest change came in the year to December 2020, when income dropped by 95%. Over the whole period it spent 46% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Vermilion Heritage Foundation 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 75th percentile, and in the 74th percentile within IL. Charities of a similar size with the same main cause include American Association of Variable Star Observers ($692k), United Country Western Dance Council ($692k) and Ewm Inc ($692k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $163k (21% of expenses). At year end it held assets of $4.6m against liabilities of $511k, net assets of $4.1m. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.