The VII Foundation Inc

Analysis

The VII Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 2010, 16 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 VII Foundation Inc reported income of $1.2m and spending of $1.9m, spending 163% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.1m to $1.2m (+2.7%), an average of +0.7% a year. The sharpest change came in the year to December 2020, when income rose by 48%. Over the whole period it spent 139% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The VII Foundation Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 77th percentile within NY. Charities of a similar size with the same main cause include San Diego Center for Jews Culture ($1.2m), Hui Mauli Ola ($1.2m) and Arts Center for Newaygo County ($1.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.7% of the total. Compensation of current officers, directors and key employees was $281k (15% of expenses). Other salaries and wages came to $35k. At year end it held assets of $2.4m against liabilities of $56k, net assets of $2.3m. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.