Virginia Beach Events Unlimited Inc

Analysis

Virginia Beach Events Unlimited Inc is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in March 1985, 41 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Virginia Beach Events Unlimited Inc reported income of $3.0m and spending of $2.8m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.4m to $3.0m (+26%), an average of +5.9% a year. The sharpest change came in the year to December 2021, when income rose by 244%. Over the whole period it spent 89% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Virginia Beach Events Unlimited Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within VA. Charities of a similar size with the same main cause include Maryland Juniors Volleyball Club Inc ($3.0m), Greater Libertyville Soccer Association Inc ($3.1m) and Pride in Athletics for Life Corp ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 50% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $171k (6.2% of expenses). Other salaries and wages came to $479k. At year end it held assets of $1.8m against liabilities of $158k, net assets of $1.6m. It reported 11 employees.