Vmi Foundation

Analysis

Vmi Foundation is a registered charity in United States, based in Lexington, VA. It received its IRS tax-exemption ruling in February 1939, 87 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2024, Vmi Foundation reported income of $26.3m and spending of $26.0m, spending 99% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $28.6m to $26.3m (-8.0%), an average of -2.1% a year. The sharpest change came in the year to June 2023, when income rose by 53%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Vmi Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within VA. Charities of a similar size with the same main cause include Canterbury School Corporation ($26.3m), Board of Control for Southern Regional Education ($26.3m) and Coker University ($26.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 46% of the total. Compensation of current officers, directors and key employees was $388k (1.5% of expenses). Other salaries and wages came to $889k. At year end it held assets of $642.1m against liabilities of $24.3m, net assets of $617.8m. It reported 28 employees.