Virginia Center for Health Innovation

Analysis

Virginia Center for Health Innovation is a registered charity in United States, based in Midlothian, VA. It received its IRS tax-exemption ruling in March 2013, 13 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 December 2023, Virginia Center for Health Innovation reported income of $953k and spending of $1.1m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.0m to $953k (-5.3%), an average of -1.4% a year. The sharpest change came in the year to December 2020, when income rose by 55%. Over the whole period it spent 96% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Virginia Center for Health Innovation sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within VA. Charities of a similar size with the same main cause include MJH Foundation ($953k), Sexual Violence Center ($953k) and Global Intiative for Chronic Obstructive Lung Disease Inc ($952k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $285k (25% of expenses). Other salaries and wages came to $189k. At year end it held assets of $1.4m against liabilities of $369k, net assets of $992k. It reported 6 employees.