The Greater Richmond Chamber Foundation

Analysis

The Greater Richmond Chamber Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in October 1980, 46 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, The Greater Richmond Chamber Foundation reported income of $346k and spending of $292k, spending 84% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $768k to $346k (-55%), an average of -18% a year. The sharpest change came in the year to December 2021, when income rose by 227%. Over the whole period it spent 106% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Greater Richmond Chamber Foundation sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 64th percentile within VA. Charities of a similar size with the same main cause include Manhattan Valley Development Corporation ($346k), Waggaman Community Foundation ($346k) and Norwalk Housing Foundation Inc ($345k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% of the total. Other salaries and wages came to $207k. At year end it held assets of $667k against liabilities of $50k, net assets of $617k.