Virginia Alliance for Business Commerce and Communities Foundatio

Analysis

Virginia Alliance for Business Commerce and Communities Foundatio is a registered charity in United States, based in Fredericksbrg, VA. It received its IRS tax-exemption ruling in April 2021, 5 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Virginia Alliance for Business Commerce and Communities Foundatio reported income of $293k and spending of $348k, spending 119% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $218k to $293k (+35%), an average of +35% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 121% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Virginia Alliance for Business Commerce and Communities Foundatio sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 61st percentile within VA. Charities of a similar size with the same main cause include Az Cyber Initiative ($293k), Compassion Cafe ($293k) and Total Life Community Educational Foundation ($293k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $94k (27% of expenses). Other salaries and wages came to $12k. At year end it held assets of $3,377 against liabilities of $105k, net assets of -$102k. It reported 5 employees.