Virginia Baptist Homes Inc

Analysis

Virginia Baptist Homes Inc is a registered charity in United States, based in Glen Allen, VA. It received its IRS tax-exemption ruling in June 1950, 76 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Virginia Baptist Homes Inc reported income of $8.3m and spending of $12.0m, spending 144% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.4m to $8.3m (+13%), an average of +3.2% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 120% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Virginia Baptist Homes Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include Chemung View Housing Inc ($8.3m), Abode Property Management ($8.3m) and BLP Partnership Inc ($8.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $1.9m (15% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $91.5m against liabilities of $122.0m, net assets of -$30.6m. It reported 1,846 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.