Vmi Inc

Analysis

Vmi Inc is a registered charity in United States, based in East Burke, VT. It received its IRS tax-exemption ruling in March 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Vmi Inc reported income of $451k and spending of $477k, spending 106% of what it took in. Across the 3 years on record, from June 2021 to June 2023, income grew from $274k to $451k (+65%), an average of +28% a year. The sharpest change came in the year to June 2022, when income rose by 54%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Vmi Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 63rd percentile within VT. Charities of a similar size with the same main cause include Galveston Independent School District Educational Foundation ($451k), Staples High School Tuition Grants Committee Inc ($451k) and Chesterton Academy of St Philip Neri ($451k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.6% and program service revenue 99% of the total. Other salaries and wages came to $238k. At year end it held assets of $33k against liabilities of $165k, net assets of -$132k. It reported 3 employees.

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.