Virginia Literacy Foundation

Analysis

Virginia Literacy Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in April 1991, 35 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Virginia Literacy Foundation reported income of $636k and spending of $572k, spending 90% of its income. Across the 4 years on record, from June 2020 to June 2023, income fell from $862k to $636k (-26%), an average of -9.6% a year. The sharpest change came in the year to June 2021, when income dropped by 38%. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virginia Literacy Foundation sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within VA. Charities of a similar size with the same main cause include Hancock Community Education Foundation ($636k), American Friends of Noam Eliezer Inc ($636k) and Mid-South Synergy Charitable Foundation Inc ($636k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $187k. At year end it held assets of $862k against liabilities of $133k, net assets of $729k.