Vision Galveston Inc

Analysis

Vision Galveston Inc is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in January 2020, 6 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 2022, Vision Galveston Inc reported income of $1.3m and spending of $500k, leaving 63% of income unspent that year. Across the 3 years on record, from December 2020 to December 2022, income grew from $789k to $1.3m (+69%), an average of +30% a year. The sharpest change came in the year to December 2022, when income rose by 32%. Over the whole period it spent 44% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Vision Galveston Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 86th percentile within TX. Charities of a similar size with the same main cause include So Cal CDC ($1.3m), Vermont Works for Women Inc ($1.3m) and Philadelphia Association of Community Development Corporations ($1.3m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $172k (34% of expenses). Other salaries and wages came to $58k. It paid $36k in professional fundraising fees. At year end it held assets of $1.8m against liabilities of $57k, net assets of $1.8m. It reported 4 employees.