West Virginia State University Research and Development Corp

Analysis

West Virginia State University Research and Development Corp is a registered charity in United States, based in Institute, WV. It received its IRS tax-exemption ruling in November 1991, 35 years ago. 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, West Virginia State University Research and Development Corp reported income of $14.2m and spending of $13.1m, spending 92% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.6m to $14.2m (+13%), an average of +3.0% a year. The sharpest change came in the year to June 2022, when income rose by 19%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, West Virginia State University Research and Development Corp sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within WV. Charities of a similar size with the same main cause include Iowa PBS Foundation ($14.2m), Lad Lake Inc ($14.2m) and Lifecare Family Health and Dental Center Inc ($14.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $244k (1.9% of expenses). Other salaries and wages came to $5.5m. At year end it held assets of $4.9m against liabilities of $2.2m, net assets of $2.7m. It reported 171 employees.