Southern Virginia Development Corporation Inc

Analysis

Southern Virginia Development Corporation Inc is a registered charity in United States, based in Emporia, VA. It received its IRS tax-exemption ruling in September 1995, 31 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Southern Virginia Development Corporation Inc reported income of $88k and spending of $71k, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $227k to $88k (-61%), an average of -21% a year. The sharpest change came in the year to June 2020, when income rose by 87%. Over the whole period it spent 87% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Southern Virginia Development Corporation Inc sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 33rd percentile within VA. Charities of a similar size with the same main cause include Maxcen Housing Society Inc South Carolina Branch ($88k), His Open Door ($88k) and Kateri House Housing Association ($88k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 28% of the total. At year end it held assets of $962k against liabilities of $144k, net assets of $818k.