Wilmington Ace Charter Incorporated

Analysis

Wilmington Ace Charter Incorporated is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in February 2005, 21 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Wilmington Ace Charter Incorporated reported income of $1.2m and spending of $1.2m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.2m to $1.2m (-6.4%), an average of -1.6% a year. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Wilmington Ace Charter Incorporated sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within NC. Charities of a similar size with the same main cause include Broc Foundation Inc ($1.2m), Impact Ed International Inc ($1.2m) and KCS Building Company ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $110k (8.9% of expenses). Other salaries and wages came to $508k. At year end it held assets of $1.1m against liabilities of $2.6m, net assets of -$1.5m. It reported 22 employees.