Virginia Hospital Research and Education Foundation

Analysis

Virginia Hospital Research and Education Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in December 1970, 56 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Virginia Hospital Research and Education Foundation reported income of $8.1m and spending of $7.7m, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.0m to $8.1m (+309%), an average of +42% a year. The sharpest change came in the year to September 2020, when income rose by 92%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Virginia Hospital Research and Education Foundation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include Curtis Home ($8.1m), St James Health and Wellness Inc ($8.1m) and Girl Scouts of Northern New Jersey Inc ($8.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 87% and program service revenue 12% of the total. At year end it held assets of $7.7m against liabilities of $3.1m, net assets of $4.6m.