Virginia Foundation for Public Media

Analysis

Virginia Foundation for Public Media is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in September 2018, 8 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Virginia Foundation for Public Media reported income of $7.2m and spending of $9.4m, spending 130% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.1m to $7.2m (+78%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 60%. Over the whole period it spent 159% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Virginia Foundation for Public Media sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within VA. Charities of a similar size with the same main cause include Cincinnati Opera Association ($7.2m), San Diego Opera Association ($7.2m) and Rhode Island Philharmonic Orchestra & Music School ($7.2m).

At year end it held assets of $165.3m against liabilities of $316k, net assets of $164.9m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.