United Way of Central Virginia Inc

Analysis

United Way of Central Virginia Inc is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in November 1958, 68 years ago. 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 June 2023, United Way of Central Virginia Inc reported income of $3.5m and spending of $3.8m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.4m to $3.5m (+47%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 29%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, United Way of Central Virginia Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within VA. Charities of a similar size with the same main cause include Big Brothers Big Sisters of Puget Sound ($3.5m), Community Link Programs of Traveler Aid Society of Central Carolinas I ($3.6m) and East Mid-Manhattan District Management Association Inc ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $66k (1.8% of expenses). Other salaries and wages came to $701k. At year end it held assets of $2.4m against liabilities of $1.4m, net assets of $1.0m. It reported 15 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.