Richmond Region Tourism Foundation

Analysis

Richmond Region Tourism Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in September 2003, 23 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Richmond Region Tourism Foundation reported income of $184k and spending of $79k, leaving 57% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $63k to $184k (+193%), an average of +31% a year. The sharpest change came in the year to June 2022, when income rose by 146%. Over the whole period it spent 69% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Richmond Region Tourism Foundation sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 52nd percentile within VA. Charities of a similar size with the same main cause include The Clarence Demar Marathon Inc ($184k), Kate Svitek Memorial Foundation ($185k) and Friends of the Kardelen Foundation ($184k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 206% of the total. At year end it held assets of $326k against liabilities of $70k, net assets of $256k.