The Richmond Forum Inc

Analysis

The Richmond Forum Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in November 1986, 40 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 May 2023, The Richmond Forum Inc reported income of $3.3m and spending of $3.1m, spending 94% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $2.2m to $3.3m (+49%), an average of +10% a year. The sharpest change came in the year to May 2022, when income rose by 72%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Richmond Forum Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within VA. Charities of a similar size with the same main cause include Eye Bank Association of America Inc ($3.3m), Family Programs Hawaii ($3.3m) and Association for the Sciences of Limnology and Oceanography Inc ($3.3m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 46% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $95k (3.0% of expenses). Other salaries and wages came to $744k. At year end it held assets of $5.0m against liabilities of $1.2m, net assets of $3.8m. It reported 9 employees.