Veterans Education and Research Association of Michigan

Analysis

Veterans Education and Research Association of Michigan is a registered charity in United States, based in Ann Arbor, MI. It received its IRS tax-exemption ruling in August 1992, 34 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Veterans Education and Research Association of Michigan reported income of $2.4m and spending of $2.3m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $996k to $2.4m (+140%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 115%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Veterans Education and Research Association of Michigan sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within MI. Charities of a similar size with the same main cause include St Dominic Gardens Inc ($2.4m), New Jersey Health Care Quality Institute Inc ($2.4m) and Purdue University Fort Wayne Foundation Inc ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $102k (4.4% of expenses). Other salaries and wages came to $423k. At year end it held assets of $5.4m against liabilities of $1.9m, net assets of $3.5m. It reported 6 employees.