Vtip Inc

Analysis

Vtip Inc is a registered charity in United States, based in Blacksburg, VA. It received its IRS tax-exemption ruling in September 1985, 41 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 June 2023, Vtip Inc reported income of $3.9m and spending of $3.4m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.0m to $3.9m (+28%), an average of +6.4% a year. The sharpest change came in the year to June 2023, when income rose by 16%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Vtip Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within VA. Charities of a similar size with the same main cause include Villas at Saint Therese Inc ($3.9m), Dr WF and Mada Dunaway Manor Nursing Home of Guymon Inc ($3.9m) and Suny New Paltz Foundation Inc ($3.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 80% of the total. Other salaries and wages came to $155k. At year end it held assets of $3.6m against liabilities of $2.1m, net assets of $1.5m. It reported 4 employees.