Versability Resources Inc

Analysis

Versability Resources Inc is a registered charity in United States, based in Hampton, VA. It received its IRS tax-exemption ruling in March 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 2021, Versability Resources Inc reported income of $43.7m and spending of $41.6m, spending 95% of its income. Across the 3 years on record, from June 2019 to June 2021, income fell from $46.7m to $43.7m (-6.4%), an average of -3.2% a year. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Versability Resources Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within VA. Charities of a similar size with the same main cause include Americas Charities ($43.6m), Clara Barton Hospital Association Inc Hoisington Kansas ($43.7m) and Good News Publishers ($43.6m).

On its Form 990 for the period ending June 2021, revenue came from contributions and grants 1.6% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $766k (1.8% of expenses). Other salaries and wages came to $18.0m. At year end it held assets of $30.2m against liabilities of $8.0m, net assets of $22.2m. It reported 963 employees.