Virginia Student Aid Foundation

Analysis

Virginia Student Aid Foundation is a registered charity in United States, based in Charlottesvle, VA. It received its IRS tax-exemption ruling in December 1951, 75 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 December 2023, Virginia Student Aid Foundation reported income of $59.7m and spending of $48.9m, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $51.5m to $59.7m (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virginia Student Aid Foundation 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 Providence Day School ($59.7m), Hawken School ($59.7m) and Chico State Enterprises ($59.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 2.4% of the total. Compensation of current officers, directors and key employees was $917k (1.9% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $169.5m against liabilities of $2.5m, net assets of $167.0m. It reported 30 employees.