Virginia Independence Training Organization

Analysis

Virginia Independence Training Organization is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in December 1999, 27 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Virginia Independence Training Organization reported income of $1.9m and spending of $2.2m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $1.9m (+11%), an average of +2.7% a year. The sharpest change came in the year to June 2023, when income rose by 21%. Over the whole period it spent 111% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Virginia Independence Training Organization sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within VA. Charities of a similar size with the same main cause include Flourish Furnishings ($1.9m), Mountain Resource Center Inc ($1.9m) and National Council of Jewish Women Ne W York Section ($1.9m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $366k (16% of expenses). At year end it held assets of $454k against liabilities of $1.2m, net assets of -$711k. It reported 30 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.