Virginia University of Lynchburg Inc

Analysis

Virginia University of Lynchburg Inc is a registered charity in United States, based in Lynchburg, VA. It received its IRS tax-exemption ruling in September 1946, 80 years ago. 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 2023, Virginia University of Lynchburg Inc reported income of $15.2m and spending of $11.9m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.5m to $15.2m (+239%), an average of +36% a year. The sharpest change came in the year to June 2021, when income rose by 63%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Virginia University of Lynchburg Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Hope for Youth Inc ($15.2m), The Urban Child Institute ($15.2m) and Link Associates ($15.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 32% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $185k (1.6% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $17.9m against liabilities of $1.3m, net assets of $16.6m. It reported 146 employees.