Averett University

Analysis

Averett University is a registered charity in United States, based in Danville, VA. It received its IRS tax-exemption ruling in August 1929, 97 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Averett University reported income of $54.7m and spending of $60.1m, spending 110% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $51.0m to $54.7m (+7.1%), an average of +2.3% a year. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Averett University 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 99th percentile, and in the 99th percentile within VA. Charities of a similar size with the same main cause include Mount Prospect Academy Inc ($54.6m), Teach for All Inc ($54.7m) and Mastery Charter High School ($54.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 86% of the total. Other salaries and wages came to $14.6m. It paid $79k in professional fundraising fees. At year end it held assets of $78.6m against liabilities of $34.1m, net assets of $44.6m. It reported 715 employees.