Richmond Academy of Medicine Trust

Analysis

Richmond Academy of Medicine Trust is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in September 1975, 51 years ago. 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 October 2023, Richmond Academy of Medicine Trust reported income of $150k and spending of $234k, spending 156% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income fell from $285k to $150k (-47%), an average of -15% a year. The sharpest change came in the year to October 2022, when income rose by 231%. Over the whole period it spent 128% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Richmond Academy of Medicine Trust sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 47th percentile within VA. Charities of a similar size with the same main cause include Phoenix Club of Jackson ($150k), Casa of the Eighth Judicial District Inc ($150k) and Pittsfield Historical Society ($150k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 39% and program service revenue 25% of the total. At year end it held assets of $40k against liabilities of $30, net assets of $40k.