Arc of Virginia Inc

Analysis

Arc of Virginia Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in July 1962, 64 years ago. 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, Arc of Virginia Inc reported income of $1.0m and spending of $1.1m, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $436k to $1.0m (+134%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 53%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Arc of Virginia Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within VA. Charities of a similar size with the same main cause include Broadway Mall Association Inc ($1.0m), Imago School Association Inc ($1.0m) and Nova Vida Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $104k (9.3% of expenses). Other salaries and wages came to $313k. At year end it held assets of $549k against liabilities of $34k, net assets of $514k. It reported 12 employees.