V M I Research Laboratories

Analysis

V M I Research Laboratories is a registered charity in United States, based in Lexington, VA. It received its IRS tax-exemption ruling in May 1967, 59 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 June 2023, V M I Research Laboratories reported income of $2.4m and spending of $2.6m, spending 110% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $390k to $2.4m (+519%), an average of +84% a year. The sharpest change came in the year to June 2021, when income rose by 191%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, V M I Research Laboratories sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Mother Lode Christian School ($2.4m), Hattie B Cooper Community Center Inc ($2.4m) and Council for Childrens Rights Inc ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $33k (1.3% of expenses). Other salaries and wages came to $896k. At year end it held assets of $1.6m against liabilities of $800k, net assets of $793k. It reported 51 employees.