Rooftop of Virginia Cap

Analysis

Rooftop of Virginia Cap is a registered charity in United States, based in Galax, VA. It received its IRS tax-exemption ruling in April 1962, 64 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, Rooftop of Virginia Cap reported income of $4.3m and spending of $4.2m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.3m (+28%), an average of +6.4% a year. The sharpest change came in the year to June 2021, when income rose by 17%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Rooftop of Virginia Cap sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within VA. Charities of a similar size with the same main cause include Detriot Economic Growth Association ($4.3m), The Resource Inc for Community and Economic Development ($4.3m) and Black River Industries Inc ($4.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.0% of the total. Other salaries and wages came to $2.5m. At year end it held assets of $1.7m against liabilities of $531k, net assets of $1.2m. It reported 102 employees.