Memorial Foundation of the Germanna Colonies in Virginia Inc

Analysis

Memorial Foundation of the Germanna Colonies in Virginia Inc is a registered charity in United States, based in Locust Grove, VA. It received its IRS tax-exemption ruling in August 1958, 68 years ago. 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, Memorial Foundation of the Germanna Colonies in Virginia Inc reported income of $1.7m and spending of $894k, leaving 48% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.7m (+41%), an average of +8.9% a year. The sharpest change came in the year to December 2023, when income rose by 281%. Over the whole period it spent 67% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Memorial Foundation of the Germanna Colonies in Virginia Inc 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 85th percentile, and in the 85th percentile within VA. Charities of a similar size with the same main cause include Muncie Boys and Girls Club Inc ($1.7m), Chinatown People Progressive Association Inc ($1.7m) and The Heritage Foundation Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 7.4% of the total. Compensation of current officers, directors and key employees was $105k (12% of expenses). Other salaries and wages came to $320k. At year end it held assets of $4.7m against liabilities of $48k, net assets of $4.7m. It reported 12 employees.