West Virginia High Technology Consortium Foundation

Analysis

West Virginia High Technology Consortium Foundation is a registered charity in United States, based in Fairmont, WV. It received its IRS tax-exemption ruling in December 1994, 32 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 March 2023, West Virginia High Technology Consortium Foundation reported income of $694k and spending of $1.8m, spending 262% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income fell from $1.1m to $694k (-34%), an average of -13% a year. The sharpest change came in the year to March 2023, when income dropped by 33%. Over the whole period it spent 224% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, West Virginia High Technology Consortium Foundation sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 73rd percentile within WV. Charities of a similar size with the same main cause include Quad Communities Development Corporation NFP ($694k), National Aviation Research and Technology Park Inc ($694k) and Greater Eastern Oregon Development Corporation ($694k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 42% and program service revenue 59% of the total. Compensation of current officers, directors and key employees was $671k (37% of expenses). Other salaries and wages came to $487k. At year end it held assets of $795k against liabilities of $1.2m, net assets of -$401k. It reported 13 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.