Virginia Space Flight Academy
EIN: 542040355 · Wallops Is, VA · NTEE: A57
| Metric | Value |
|---|---|
| Total Revenue | $416K |
| Total Expenses | $412K |
| Net Assets | $59K |
Is Virginia Space Flight Academy Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Virginia Space Flight Academy
Virginia Space Flight Academy (EIN: 542040355) is a nonprofit organization based in Wallops Is, VA, classified under NTEE code A57. The organization reported total revenue of $416K and total assets of $129K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Virginia Space Flight Academy's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Virginia Space Flight Academy is a small nonprofit that has been operating for 24 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 8.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $381K |
| Total Expenses | $412K |
| Surplus / Deficit | $-30,746 |
| Total Assets | $70K |
| Total Liabilities | $11K |
| Net Assets | $59K |
| Operating Margin | -8.1% |
| Debt-to-Asset Ratio | 15.4% |
| Months of Reserves | 2.0 months |
Financial Health Grade: C
In 2023, Virginia Space Flight Academy reported a deficit of $31K with expenses exceeding revenue, holds 2.0 months of operating reserves (limited), has a debt-to-asset ratio of 15.4% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Virginia Space Flight Academy's revenue has grown at a compound annual growth rate (CAGR) of 8.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +24.7% | +15.7% | -27.8% |
| 2022 | +52.3% | +39.4% | -29.3% |
| 2021 | +64.9% | +118.7% | -33.1% |
| 2020 | -42.2% | -47.7% | +13.0% |
| 2019 | -7.4% | +14.8% | -5.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2002 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Virginia Space Flight Academy has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Virginia Space Flight Academy with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $31K, with expenses exceeding revenue.
- Debt-to-asset ratio: 15.4%.
Frequently Asked Questions about Virginia Space Flight Academy
Is Virginia Space Flight Academy a legitimate charity?
Virginia Space Flight Academy (EIN: 542040355) is a registered tax-exempt nonprofit based in Virginia. It has 14 years of IRS 990 filings on record. Total revenue: $416K. No red flags identified. Financial health grade: C.
How does Virginia Space Flight Academy spend its money?
Virginia Space Flight Academy reported $416K in total revenue in IRS 990 filings. 14 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Virginia Space Flight Academy tax-deductible?
Virginia Space Flight Academy is registered as a tax-exempt nonprofit (EIN: 542040355). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Virginia Space Flight Academy located?
Virginia Space Flight Academy is headquartered in Wallops Is, Virginia and files with the IRS under EIN 542040355. It is classified under NTEE code A57.
How many years of IRS 990 filings does Virginia Space Flight Academy have?
Virginia Space Flight Academy has 14 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 $416K in total revenue.
Filing History
IRS 990 filing history for Virginia Space Flight Academy showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Virginia Space Flight Academy's revenue has grown by 174.1%, moving from $139K to $381K. Total assets increased by 252.3% over the same period, from $20K to $70K. Total functional expenses rose by 195.9%, from $139K to $412K. In its most recent filing year (2023), Virginia Space Flight Academy reported a deficit of $31K, with expenses exceeding revenue. The organization holds $11K in liabilities against $70K in assets (debt-to-asset ratio: 15.4%), resulting in net assets of $59K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $381K | $412K | $70K | $11K | — | — |
| 2022 | $306K | $356K | $97K | $13K | — | View 990 |
| 2021 | $201K | $255K | $137K | $3K | — | View 990 |
| 2020 | $122K | $117K | $204K | $22K | — | View 990 |
| 2019 | $210K | $223K | $181K | $3K | — | View 990 |
| 2018 | $227K | $194K | $191K | $1K | — | View 990 |
| 2017 | $208K | $179K | $159K | $1K | — | — |
| 2016 | $192K | $173K | $130K | $1K | — | View 990 |
| 2015 | $193K | $187K | $112K | $1K | — | View 990 |
| 2014 | $183K | $172K | $106K | $2K | — | View 990 |
| 2013 | $169K | $158K | $94K | $621 | — | View 990 |
| 2012 | $160K | $142K | $83K | $1K | — | View 990 |
| 2011 | $142K | $154K | $8K | $0 | — | View 990 |
| 2010 | $139K | $139K | $20K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $381K, expenses of $412K, and assets of $70K (revenue +24.7% year-over-year).
- 2022: Revenue of $306K, expenses of $356K, and assets of $97K (revenue +52.3% year-over-year).
- 2021: Revenue of $201K, expenses of $255K, and assets of $137K (revenue +64.9% year-over-year).
- 2020: Revenue of $122K, expenses of $117K, and assets of $204K (revenue -42.2% year-over-year).
- 2019: Revenue of $210K, expenses of $223K, and assets of $181K (revenue -7.4% year-over-year).
- 2018: Revenue of $227K, expenses of $194K, and assets of $191K (revenue +9.4% year-over-year).
- 2017: Revenue of $208K, expenses of $179K, and assets of $159K (revenue +8.1% year-over-year).
- 2016: Revenue of $192K, expenses of $173K, and assets of $130K (revenue -0.5% year-over-year).
- 2015: Revenue of $193K, expenses of $187K, and assets of $112K (revenue +5.7% year-over-year).
- 2014: Revenue of $183K, expenses of $172K, and assets of $106K (revenue +7.9% year-over-year).
- 2013: Revenue of $169K, expenses of $158K, and assets of $94K (revenue +5.5% year-over-year).
- 2012: Revenue of $160K, expenses of $142K, and assets of $83K (revenue +13.3% year-over-year).
- 2011: Revenue of $142K, expenses of $154K, and assets of $8K (revenue +1.9% year-over-year).
- 2010: Revenue of $139K, expenses of $139K, and assets of $20K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Virginia Space Flight Academy:
Data Sources and Methodology
This transparency report for Virginia Space Flight Academy 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.