Special Olympics Virginia Inc

Analysis

Special Olympics Virginia Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 1983, 43 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 December 2023, Special Olympics Virginia Inc reported income of $6.4m and spending of $6.0m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.3m to $6.4m (+20%), an average of +4.7% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 84% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Special Olympics Virginia 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 93rd percentile, and in the 94th percentile within VA. Charities of a similar size with the same main cause include Kentucky High School Athletic Association ($6.4m), Fort Wilderness Ministries Incorporated ($6.4m) and Special Olympics Arizona Inc ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% of the total. Compensation of current officers, directors and key employees was $185k (3.1% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $16.7m against liabilities of $2.3m, net assets of $14.4m. It reported 45 employees.