Varsity Media Foundation

Analysis

Varsity Media Foundation is a registered charity in United States, based in Carefree, AZ. It received its IRS tax-exemption ruling in June 2022, 4 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 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, Varsity Media Foundation reported income of $111k and spending of $116k, spending 105% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $120k to $111k (-7.7%), an average of -7.7% a year. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Varsity Media Foundation sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 37th percentile within AZ. Charities of a similar size with the same main cause include Williamsburg Contemporary Art Center ($111k), Henderson County Historic Courthouse Corporation ($111k) and Pro-Am Performing Arts Corp ($111k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 6.1% and program service revenue 88% of the total. At year end it held assets of $25k against liabilities of $10k, net assets of $15k.