Michigan Virtual University

Analysis

Michigan Virtual University is a registered charity in United States, based in Lansing, MI. It received its IRS tax-exemption ruling in September 1999, 27 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 September 2023, Michigan Virtual University reported income of $21.7m and spending of $21.8m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $17.2m to $21.7m (+26%), an average of +6.0% a year. The sharpest change came in the year to September 2021, when income rose by 51%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Michigan Virtual University sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MI. Charities of a similar size with the same main cause include Ewing Marion Kauffman School Inc ($21.7m), True North Classical Academy Inc ($21.7m) and Pine Lake Preparatory Inc ($21.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 46% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $582k (2.7% of expenses). Other salaries and wages came to $11.5m. At year end it held assets of $20.6m against liabilities of $2.3m, net assets of $18.2m. It reported 466 employees.