Vega Foundation

Analysis

Vega Foundation is a registered charity in United States, based in Beaufort, SC. It received its IRS tax-exemption ruling in March 2021, 5 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Vega Foundation reported income of $57k and spending of $2,043, leaving 96% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $1,700 to $57k (+3253%), an average of +3253% a year. The sharpest change came in the year to December 2023, when income rose by 3253%. Over the whole period it spent 3.5% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Vega Foundation sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 28th percentile within SC. Charities of a similar size with the same main cause include Grayson County Welfare Board Inc ($57k), Carolines Promise ($57k) and Keep It Moving Incorporated ($57k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $84k against liabilities of $0, net assets of $84k.