Virginia Growth and Opportunity Foundation

Analysis

Virginia Growth and Opportunity Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in September 2016, 10 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 December 2023, Virginia Growth and Opportunity Foundation reported income of $730k and spending of $189k, leaving 74% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $275k to $730k (+165%), an average of +28% a year. The sharpest change came in the year to December 2023, when income rose by 872%. Over the whole period it spent 62% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Virginia Growth and Opportunity Foundation sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Nebraska State Chamber Foundation ($730k), Common Wealth Inc ($730k) and Perfecting Community Development Corporation ($729k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $671k against liabilities of $0, net assets of $671k.