VMRC Foundation Inc

Analysis

VMRC Foundation Inc is a registered charity in United States, based in Harrisonburg, VA. It received its IRS tax-exemption ruling in December 1980, 46 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 March 2024, VMRC Foundation Inc reported income of $2.2m and spending of $952k, leaving 56% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income fell from $2.2m to $2.2m (-1.8%), an average of -0.5% a year. The sharpest change came in the year to March 2023, when income dropped by 50%. Over the whole period it spent 38% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, VMRC Foundation Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within VA. Charities of a similar size with the same main cause include Hidden Harvest Corporation ($2.2m), Black Men Teach ($2.2m) and Gorton Community Center ($2.2m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 49% of the total. Other salaries and wages came to $181k. At year end it held assets of $37.9m against liabilities of $11.6m, net assets of $26.3m. It reported 4 employees.