The Visual Arts Center of Richmond

Analysis

The Visual Arts Center of Richmond is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in August 1966, 60 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 June 2024, The Visual Arts Center of Richmond reported income of $2.8m and spending of $3.2m, spending 112% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $2.6m to $2.8m (+7.5%), an average of +1.5% a year. The sharpest change came in the year to June 2023, when income rose by 25%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Visual Arts Center of Richmond sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Martin Trust Partnership in Education for Early Learners Inc ($2.8m), Blue Lake Pre School Inc ($2.8m) and Coulee Region Christian School Association Inc ($2.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 31% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $106k (3.3% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $5.6m against liabilities of $433k, net assets of $5.2m. It reported 54 employees.