Medical College of Virginia Foundation

Analysis

Medical College of Virginia Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in October 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Medical College of Virginia Foundation reported income of $57.6m and spending of $40.3m, leaving 30% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $54.3m to $57.6m (+6.1%), an average of +2.0% a year. The sharpest change came in the year to June 2021, when income rose by 39%. Over the whole period it spent 68% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Medical College of Virginia Foundation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within VA. Charities of a similar size with the same main cause include Carson-Newman University ($57.6m), Trinity College ($57.7m) and Central Methodist University ($57.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 3.1% of the total. Compensation of current officers, directors and key employees was $1.4m (3.5% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $893.3m against liabilities of $6.9m, net assets of $886.3m. It reported 23 employees.