Volunteers of America Inc

Analysis

Volunteers of America Inc is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in May 1963, 63 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Volunteers of America Inc reported income of $54.9m and spending of $50.4m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $26.7m to $54.9m (+106%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 46%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Volunteers of America Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within VA. Charities of a similar size with the same main cause include McKenzie County Healthcare Systems Inc ($54.9m), Mote Marine Laboratory ($55.0m) and Board of Governors of the Banff Centre ($54.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 53% of the total. At year end it held assets of $128.4m against liabilities of $68.3m, net assets of $60.2m.