Virginia State University Foundation

Analysis

Virginia State University Foundation is a registered charity in United States, based in Petersburg, VA. It received its IRS tax-exemption ruling in June 1968, 58 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, Virginia State University Foundation reported income of $5.2m and spending of $2.7m, leaving 47% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.3m to $5.2m (+125%), an average of +22% a year. The sharpest change came in the year to June 2021, when income rose by 311%. Over the whole period it spent 49% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Virginia State University Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within VA. Charities of a similar size with the same main cause include Franciscan Baton Rouge Inc ($5.2m), Bonneville Academy ($5.2m) and Black Hills State University Foundation ($5.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $162k (5.9% of expenses). Other salaries and wages came to $81k. At year end it held assets of $36.7m against liabilities of $6.9m, net assets of $29.8m. It reported 3 employees.