Virginia Biotechnology Research Park

Analysis

Virginia Biotechnology Research Park is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in December 1993, 33 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 Biotechnology Research Park reported income of $1.3m and spending of $1.8m, spending 135% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $941k to $1.3m (+41%), an average of +8.9% a year. The sharpest change came in the year to June 2022, when income rose by 60%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Virginia Biotechnology Research Park sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within VA. Charities of a similar size with the same main cause include Preston County Workshop Inc ($1.3m), Massachusetts Communities Action Network Inc ($1.3m) and Centro Community Partners ($1.3m).

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 $535k. At year end it held assets of $2.6m against liabilities of $1.8m, net assets of $863k.