V M I Alumni Association

Analysis

V M I Alumni Association is a registered charity in United States, based in Lexington, VA. It received its IRS tax-exemption ruling in June 1926, 100 years ago. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, V M I Alumni Association reported income of $1.2m and spending of $1.2m, spending 100% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $1.2m to $1.2m (-4.8%), an average of -1.2% a year. The sharpest change came in the year to June 2022, when income rose by 31%. Over the whole period it spent 101% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, V M I Alumni Association sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within VA. Charities of a similar size with the same main cause include Maryland Association Non-Public Special Education Facilities Inc ($1.2m), Lagrange County Council on Aging Inc ($1.2m) and The Tony Rice Center Inc ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $125k (11% of expenses). Other salaries and wages came to $306k. At year end it held assets of $664k against liabilities of $496k, net assets of $168k. It reported 7 employees.