North Carolina Center for Automotive Research Inc

Analysis

North Carolina Center for Automotive Research Inc is a registered charity in United States, based in Garysburg, NC. It received its IRS tax-exemption ruling in February 2006, 20 years ago. Its declared purposes cover science and technology, 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, North Carolina Center for Automotive Research Inc reported income of $756k and spending of $1.2m, spending 155% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $502k to $756k (+51%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 39%. Over the whole period it spent 189% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, North Carolina Center for Automotive Research Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within NC. Charities of a similar size with the same main cause include Bolinas Museum ($756k), Musical Mayhem Productions Inc ($756k) and Bread & Roses Presents ($756k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.0% and program service revenue 93% of the total. Other salaries and wages came to $141k. At year end it held assets of $8.3m against liabilities of $1.8m, net assets of $6.4m. It reported 20 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.