University of Lynchburg

Analysis

University of Lynchburg is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in December 1944, 82 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, University of Lynchburg reported income of $93.8m and spending of $104.7m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $121.8m to $93.8m (-23%), an average of -6.3% a year. The sharpest change came in the year to June 2023, when income dropped by 19%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of Lynchburg sits at the 99th percentile: it is larger than about 99% 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 Western Educational Corporation ($93.6m), University of Central Florida Foundation Inc ($94.1m) and National Collegiate Inventors & Innovators Alliance ($93.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.2% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $1.7m (1.7% of expenses). Other salaries and wages came to $36.4m. It paid $143k in professional fundraising fees. At year end it held assets of $261.2m against liabilities of $67.8m, net assets of $193.4m. It reported 1,638 employees.