Startup Virginia

Analysis

Startup Virginia is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in November 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, Startup Virginia reported income of $1.0m and spending of $939k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $971k to $1.0m (+6.3%), an average of +1.5% a year. The sharpest change came in the year to December 2022, when income rose by 33%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Startup Virginia sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within VA. Charities of a similar size with the same main cause include Bayfront Nato Inc ($1.0m), Community Building Initiative ($1.0m) and Ironbound Business Improvement District Management Corporation ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 41% of the total. Other salaries and wages came to $493k. At year end it held assets of $1.7m against liabilities of $506k, net assets of $1.1m. It reported 7 employees.