Virginia Institute of Marine Science Foundation

Analysis

Virginia Institute of Marine Science Foundation is a registered charity in United States, based in Gloucester Pt, VA. It received its IRS tax-exemption ruling in September 2001, 25 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Virginia Institute of Marine Science Foundation reported income of $2.0m and spending of $1.7m, spending 84% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.0m to $2.0m (-3.2%), an average of -0.8% a year. The sharpest change came in the year to June 2022, when income rose by 111%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virginia Institute of Marine Science Foundation sits at the 82nd percentile: it is larger than about 82% 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 Lifeprep Education System Inc ($2.0m), Joseph S Bruno Educational Foundation ($2.0m) and Cedar Grove Christian Academy Inc ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% of the total. At year end it held assets of $20.0m against liabilities of $0, net assets of $20.0m.