The University of the Virgin Islands

Analysis

The University of the Virgin Islands is a registered charity in United States, based in St Thomas, VI. It received its IRS tax-exemption ruling in August 1987, 39 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, The University of the Virgin Islands reported income of $102.8m and spending of $102.9m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $97.9m to $102.8m (+5.0%), an average of +1.2% a year. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The University of the Virgin Islands sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within VI. Charities of a similar size with the same main cause include Central Indiana Health System Cardiac Services Inc ($102.7m), University Family Physicians Inc ($103.3m) and Murmuration Research Institute Inc ($102.7m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 82% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $5.5m (5.4% of expenses). Other salaries and wages came to $34.4m. At year end it held assets of $202.6m against liabilities of $115.9m, net assets of $86.7m. It reported 1,180 employees.