The Foundation for Te College of the Virgin Islands Inc

Analysis

The Foundation for Te College of the Virgin Islands Inc is a registered charity in United States, based in St Thomas, VI. It received its IRS tax-exemption ruling in July 1986, 40 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, The Foundation for Te College of the Virgin Islands Inc reported income of $3.6m and spending of $4.6m, spending 130% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.0m to $3.6m (+77%), an average of +15% a year. The sharpest change came in the year to September 2021, when income rose by 60%. Over the whole period it spent 113% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Foundation for Te College of the Virgin Islands Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 93rd percentile within VI. Charities of a similar size with the same main cause include Compass Community Connections ($3.6m), Eastern Star Home of South Dakota Incorporated ($3.6m) and Louisiana Foundation Against Sexual Assault Inc ($3.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 81% of the total. At year end it held assets of $54.4m against liabilities of $23.2m, net assets of $31.3m.