Virginia Space Flight Academy

Analysis

Virginia Space Flight Academy is a registered charity in United States, based in Oak Hall, VA. It received its IRS tax-exemption ruling in May 2002, 24 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Virginia Space Flight Academy reported income of $381k and spending of $412k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $210k to $381k (+81%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 65%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Virginia Space Flight Academy sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within VA. Charities of a similar size with the same main cause include Camerata Virtuosi of New Jersey Inc ($381k), Childrens Museum of Alamance County Inc ($381k) and Omaha Community Playhouse Foundation ($381k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $71k (17% of expenses). Other salaries and wages came to $97k. At year end it held assets of $70k against liabilities of $11k, net assets of $59k. It reported 14 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.