Athletics Foundation of Norfolk State University Inc

Analysis

Athletics Foundation of Norfolk State University Inc is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in December 1981, 45 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2022, Athletics Foundation of Norfolk State University Inc reported income of $518k and spending of $428k, spending 83% of its income. Across the 5 years on record, from June 2018 to June 2022, income grew from $406k to $518k (+28%), an average of +6.3% a year. The sharpest change came in the year to June 2022, when income rose by 188%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Athletics Foundation of Norfolk State University Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within VA. Charities of a similar size with the same main cause include Massachusetts Bicycle Coalition Incorporated ($518k), International Wire & Cable Symposium ($518k) and Westminster Academy Inc ($518k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 62% and program service revenue 55% of the total. At year end it held assets of $270k against liabilities of $69k, net assets of $201k.