Virginia Early Childhood Foundation
Virginia Early Childhood Foundation experiences rapid revenue growth with 0% reported officer compensation.
EIN: 203970624 · Richmond, VA · NTEE: B01 · Updated: 2026-03-28
Is Virginia Early Childhood Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Virginia Early Childhood Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Virginia Early Childhood Foundation
Virginia Early Childhood Foundation (EIN: 203970624) is a nonprofit organization based in Richmond, VA, classified under NTEE code B01. The organization reported total revenue of $106.1M and total assets of $13.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Virginia Early Childhood Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Virginia Early Childhood Foundation is a major nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 18.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $69.3M |
| Total Expenses | $68.6M |
| Surplus / Deficit | +$726K |
| Total Assets | $19.9M |
| Total Liabilities | $16.3M |
| Net Assets | $3.6M |
| Operating Margin | 1.0% |
| Debt-to-Asset Ratio | 82.1% |
| Months of Reserves | 3.5 months |
Financial Health Grade: A
In 2023, Virginia Early Childhood Foundation reported a surplus of $726K with revenue exceeding expenses, holds 3.5 months of operating reserves (adequate), has a debt-to-asset ratio of 82.1% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Virginia Early Childhood Foundation's revenue has grown at a compound annual growth rate (CAGR) of 18.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +68.3% | +68.8% | -50.1% |
| 2022 | +27.0% | +20.3% | +279.0% |
| 2021 | +165.2% | +176.8% | +101.5% |
| 2020 | +110.8% | +110.9% | +9.5% |
| 2019 | +3.6% | +7.8% | +8.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Virginia Early Childhood Foundation with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Virginia Early Childhood Foundation allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $726K, with revenue exceeding expenses.
- Debt-to-asset ratio: 82.1%.
Executive Compensation Analysis
The Virginia Early Childhood Foundation consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size and rapid growth. This suggests either a fully volunteer-led executive team or that executive compensation is categorized differently, warranting further investigation for complete transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Virginia Early Childhood Foundation's IRS 990 filings:
- Consistent 0% officer compensation for a large, growing organization may obscure actual executive remuneration or indicate reliance on external support.
- Rapid growth in liabilities alongside assets, such as $16.3 million in liabilities against $19.8 million in assets in 2023, warrants monitoring to ensure financial stability.
Strengths
The following positive indicators were identified for Virginia Early Childhood Foundation:
- Exceptional revenue growth, from $2.4 million in 2014 to $69.3 million in 2023, demonstrates strong fundraising and program expansion.
- Expenses consistently track revenue, indicating efficient deployment of funds towards its mission (e.g., $68.6M expenses for $69.3M revenue in 2023).
- Assets consistently exceed liabilities, indicating a generally healthy financial position.
- The NTEE code B01 (Early Childhood Education) aligns perfectly with the organization's name and stated purpose, suggesting strong mission focus.
Frequently Asked Questions about Virginia Early Childhood Foundation
Is Virginia Early Childhood Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Virginia Early Childhood Foundation (EIN: 203970624) some concerns. Mission Score: 92/100. 2 red flags identified, 4 strengths noted.
How does Virginia Early Childhood Foundation spend its money?
Virginia Early Childhood Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Virginia Early Childhood Foundation tax-deductible?
Virginia Early Childhood Foundation is registered as a tax-exempt nonprofit (EIN: 203970624). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does VECF manage to report 0% officer compensation despite its significant size and growth?
The consistent reporting of 0% officer compensation across all filings, even with revenues exceeding $69 million in 2023, is highly unusual. It suggests that executive leadership may be volunteer-based, compensated through a related entity, or that compensation is classified under other expense categories, which would require deeper scrutiny of their financial statements to understand fully.
What is the primary driver behind VECF's dramatic revenue increase from $2.4M in 2014 to $69M in 2023?
The significant increase in revenue, particularly the jump from $12.2 million in 2020 to $69.3 million in 2023, indicates a major expansion in funding sources, potentially through large grants, government contracts, or successful capital campaigns related to early childhood initiatives in Virginia.
How does VECF ensure its rapid growth in revenue and expenses translates effectively into program impact?
With expenses closely tracking revenue (e.g., $68.6 million in expenses for $69.3 million in revenue in 2023), VECF appears to be deploying funds efficiently. However, to assess impact, one would need to review their program outcomes and effectiveness reports, which are not detailed in the 990 financial summary.
Filing History
IRS 990 filing history for Virginia Early Childhood Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Virginia Early Childhood Foundation's revenue has grown by 685.6%, moving from $8.8M to $69.3M. Total assets increased by 260.7% over the same period, from $5.5M to $19.9M. Total functional expenses rose by 1300.7%, from $4.9M to $68.6M. In its most recent filing year (2023), Virginia Early Childhood Foundation reported a surplus of $726K, with revenue exceeding expenses. The organization holds $16.3M in liabilities against $19.9M in assets (debt-to-asset ratio: 82.1%), resulting in net assets of $3.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $69.3M | $68.6M | $19.9M | $16.3M | — | View 990 |
| 2022 | $41.2M | $40.6M | $39.8M | $36.9M | — | View 990 |
| 2021 | $32.4M | $33.8M | $10.5M | $8.2M | — | View 990 |
| 2020 | $12.2M | $12.2M | $5.2M | $1.6M | — | View 990 |
| 2019 | $5.8M | $5.8M | $4.8M | $1.2M | — | View 990 |
| 2018 | $5.6M | $5.4M | $4.4M | $835K | — | View 990 |
| 2017 | $5.1M | $3.9M | $4.1M | $820K | — | View 990 |
| 2016 | $3.1M | $3.1M | $2.3M | $234K | — | View 990 |
| 2015 | $3.3M | $3.3M | $2.3M | $326K | — | View 990 |
| 2014 | $2.4M | $3.2M | $2.4M | $385K | — | View 990 |
| 2013 | $2.5M | $2.9M | $2.9M | $162K | — | View 990 |
| 2012 | $2.8M | $4.3M | $3.4M | $325K | — | View 990 |
| 2011 | $8.8M | $4.9M | $5.5M | $828K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $69.3M, expenses of $68.6M, and assets of $19.9M (revenue +68.3% year-over-year).
- 2022: Revenue of $41.2M, expenses of $40.6M, and assets of $39.8M (revenue +27.0% year-over-year).
- 2021: Revenue of $32.4M, expenses of $33.8M, and assets of $10.5M (revenue +165.2% year-over-year).
- 2020: Revenue of $12.2M, expenses of $12.2M, and assets of $5.2M (revenue +110.8% year-over-year).
- 2019: Revenue of $5.8M, expenses of $5.8M, and assets of $4.8M (revenue +3.6% year-over-year).
- 2018: Revenue of $5.6M, expenses of $5.4M, and assets of $4.4M (revenue +9.6% year-over-year).
- 2017: Revenue of $5.1M, expenses of $3.9M, and assets of $4.1M (revenue +63.8% year-over-year).
- 2016: Revenue of $3.1M, expenses of $3.1M, and assets of $2.3M (revenue -4.8% year-over-year).
- 2015: Revenue of $3.3M, expenses of $3.3M, and assets of $2.3M (revenue +34.4% year-over-year).
- 2014: Revenue of $2.4M, expenses of $3.2M, and assets of $2.4M (revenue -3.5% year-over-year).
- 2013: Revenue of $2.5M, expenses of $2.9M, and assets of $2.9M (revenue -8.3% year-over-year).
- 2012: Revenue of $2.8M, expenses of $4.3M, and assets of $3.4M (revenue -68.8% year-over-year).
- 2011: Revenue of $8.8M, expenses of $4.9M, and assets of $5.5M.
Data Sources and Methodology
This transparency report for Virginia Early Childhood Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.