Virginia Local Government Finance Corporation
Virginia Local Government Finance Corporation consistently operates near break-even with no reported officer compensation.
EIN: 201351659 · Richmond, VA · NTEE: S01 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $2.4M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $795K |
| Transparency Score | 85/100 |
Is Virginia Local Government Finance Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Virginia Local Government Finance Corporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Virginia Local Government Finance Corporation
Virginia Local Government Finance Corporation (EIN: 201351659) is a nonprofit organization based in Richmond, VA, classified under NTEE code S01. The organization reported total revenue of $2.6M and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Virginia Local Government Finance Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Virginia Local Government Finance Corporation is a mid-size 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 8.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $2.4M |
| Surplus / Deficit | $-71,667 |
| Total Assets | $1.4M |
| Total Liabilities | $558K |
| Net Assets | $795K |
| Operating Margin | -3.0% |
| Debt-to-Asset Ratio | 41.2% |
| Months of Reserves | 6.7 months |
Financial Health Grade: B
In 2023, Virginia Local Government Finance Corporation reported a deficit of $72K with expenses exceeding revenue, holds 6.7 months of operating reserves (strong position), has a debt-to-asset ratio of 41.2% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Virginia Local Government Finance Corporation's revenue has grown at a compound annual growth rate (CAGR) of 8.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.0% | -2.1% | -4.7% |
| 2022 | -10.4% | -6.5% | -22.8% |
| 2021 | +7.2% | +12.5% | +41.8% |
| 2020 | +28.3% | +15.8% | +18.6% |
| 2019 | +4.4% | +3.5% | +3.6% |
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 Local Government Finance Corporation with a Mission Score of 85 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Virginia Local Government Finance Corporation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 deficit of $72K, with expenses exceeding revenue.
- Debt-to-asset ratio: 41.2%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that officers are either uncompensated or compensated through mechanisms not categorized as officer compensation on the 990, which is highly unusual for an organization with over $2 million in annual revenue.
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 Local Government Finance Corporation's IRS 990 filings:
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in summary data
- Consistent 0% officer compensation for an organization with over $2M in revenue, which warrants further inquiry into compensation structures.
Strengths
The following positive indicators were identified for Virginia Local Government Finance Corporation:
- Consistent financial reporting with 13 IRS 990 filings.
- Stable asset growth from $349,792 in 2014 to $1,353,084 in 2023.
- No reported officer compensation, indicating potential for very low overhead in leadership salaries.
- Generally operates near break-even, suggesting efficient management of resources relative to its mission.
Frequently Asked Questions about Virginia Local Government Finance Corporation
Is Virginia Local Government Finance Corporation a legitimate charity?
Virginia Local Government Finance Corporation (EIN: 201351659) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.6M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Virginia Local Government Finance Corporation spend its money?
Virginia Local Government Finance Corporation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Virginia Local Government Finance Corporation tax-deductible?
Virginia Local Government Finance Corporation is registered as a tax-exempt nonprofit (EIN: 201351659). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Virginia Local Government Finance Corporation CEO make?
Virginia Local Government Finance Corporation's highest-compensated officer earns $2 annually. The organization reported $2.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Virginia Local Government Finance Corporation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Virginia Local Government Finance Corporation is above average for NTEE category S01 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Virginia Local Government Finance Corporation located?
Virginia Local Government Finance Corporation is headquartered in Richmond, Virginia and files with the IRS under EIN 201351659. It is classified under NTEE code S01.
How many years of IRS 990 filings does Virginia Local Government Finance Corporation have?
Virginia Local Government Finance Corporation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.6M in total revenue.
How does the VLGFC manage to operate with 0% reported officer compensation?
The consistent reporting of 0% officer compensation across all 13 filings suggests that the organization's leadership may be entirely volunteer-based, compensated through a related entity, or that compensation is structured in a way that it is not reported as 'officer compensation' on the 990. Further investigation into their operational model would be needed to understand this structure.
What are the primary program activities funded by the VLGFC's expenses?
Given the NTEE code S01 (Governmental Units & Agencies) and the name 'Local Government Finance Corporation,' it is highly probable that their program activities involve facilitating or managing financial services for local governments in Virginia. However, the provided data does not offer a specific breakdown of these activities.
Why do expenses sometimes exceed revenue, as seen in 2023 and 2022?
Minor fluctuations where expenses slightly exceed revenue, as in 2023 ($2,438,740 expenses vs. $2,367,073 revenue) and 2022 ($2,492,203 expenses vs. $2,466,374 revenue), are not uncommon for organizations operating near break-even. These could be due to timing differences in revenue recognition or planned strategic investments, and are generally covered by accumulated assets.
Filing History
IRS 990 filing history for Virginia Local Government Finance Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Virginia Local Government Finance Corporation's revenue has grown by 173.2%, moving from $866K to $2.4M. Total assets increased by 590.9% over the same period, from $196K to $1.4M. Total functional expenses rose by 203.4%, from $804K to $2.4M. In its most recent filing year (2023), Virginia Local Government Finance Corporation reported a deficit of $72K, with expenses exceeding revenue. The organization holds $558K in liabilities against $1.4M in assets (debt-to-asset ratio: 41.2%), resulting in net assets of $795K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $2.4M | $1.4M | $558K | — | View 990 |
| 2022 | $2.5M | $2.5M | $1.4M | $554K | — | View 990 |
| 2021 | $2.8M | $2.7M | $1.8M | $919K | — | View 990 |
| 2020 | $2.6M | $2.4M | $1.3M | $481K | — | View 990 |
| 2019 | $2.0M | $2.0M | $1.1M | $482K | — | View 990 |
| 2018 | $1.9M | $2.0M | $1.1M | $409K | — | View 990 |
| 2017 | $1.7M | $1.7M | $1.1M | $341K | — | View 990 |
| 2016 | $1.4M | $1.3M | $874K | $188K | — | View 990 |
| 2015 | $1.7M | $1.3M | $757K | $144K | — | View 990 |
| 2014 | $866K | $882K | $350K | $153K | — | View 990 |
| 2013 | $802K | $699K | $314K | $101K | — | View 990 |
| 2012 | $684K | $675K | $174K | $64K | — | View 990 |
| 2011 | $866K | $804K | $196K | $95K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $2.4M, and assets of $1.4M (revenue -4.0% year-over-year).
- 2022: Revenue of $2.5M, expenses of $2.5M, and assets of $1.4M (revenue -10.4% year-over-year).
- 2021: Revenue of $2.8M, expenses of $2.7M, and assets of $1.8M (revenue +7.2% year-over-year).
- 2020: Revenue of $2.6M, expenses of $2.4M, and assets of $1.3M (revenue +28.3% year-over-year).
- 2019: Revenue of $2.0M, expenses of $2.0M, and assets of $1.1M (revenue +4.4% year-over-year).
- 2018: Revenue of $1.9M, expenses of $2.0M, and assets of $1.1M (revenue +10.7% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.7M, and assets of $1.1M (revenue +22.2% year-over-year).
- 2016: Revenue of $1.4M, expenses of $1.3M, and assets of $874K (revenue -15.7% year-over-year).
- 2015: Revenue of $1.7M, expenses of $1.3M, and assets of $757K (revenue +94.4% year-over-year).
- 2014: Revenue of $866K, expenses of $882K, and assets of $350K (revenue +7.9% year-over-year).
- 2013: Revenue of $802K, expenses of $699K, and assets of $314K (revenue +17.3% year-over-year).
- 2012: Revenue of $684K, expenses of $675K, and assets of $174K (revenue -21.1% year-over-year).
- 2011: Revenue of $866K, expenses of $804K, and assets of $196K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Virginia Local Government Finance Corporation:
Data Sources and Methodology
This transparency report for Virginia Local Government Finance Corporation 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.