Virginia Commonwealth University Foundation

Analysis

Virginia Commonwealth University Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in September 1964, 62 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Virginia Commonwealth University Foundation reported income of $15.9m and spending of $12.4m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $13.4m to $15.9m (+19%), an average of +4.5% a year. The sharpest change came in the year to June 2022, when income rose by 66%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virginia Commonwealth University Foundation sits at the 95th percentile: it is larger than about 95% 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 Globe Academy Inc ($15.9m), Martin de Porres School Inc ($15.9m) and Alpine Education Services ($15.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $152k (1.2% of expenses). At year end it held assets of $148.1m against liabilities of $42.7m, net assets of $105.4m.