Virginia Union University

Analysis

Virginia Union University is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in April 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 2024, Virginia Union University reported income of $51.0m and spending of $54.2m, spending 106% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $42.5m to $51.0m (+20%), an average of +3.7% a year. The sharpest change came in the year to June 2021, when income rose by 58%. 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, Virginia Union University 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 Advantage Academy of Miami Inc ($51.0m), Geneva College ($51.0m) and University of Florida Research Foundation Inc ($50.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 32% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $1.1m (2.0% of expenses). Other salaries and wages came to $17.9m. It paid $436k in professional fundraising fees. At year end it held assets of $108.2m against liabilities of $33.9m, net assets of $74.3m. It reported 472 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.