Carolina Hurricanes Foundation Inc

Analysis

Carolina Hurricanes Foundation Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in July 1986, 40 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 July 2023, Carolina Hurricanes Foundation Inc reported income of $1.0m and spending of $612k, leaving 39% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $921k to $1.0m (+9.1%), an average of +2.2% a year. The sharpest change came in the year to July 2022, when income rose by 203%. Over the whole period it spent 74% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Carolina Hurricanes Foundation Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within NC. Charities of a similar size with the same main cause include Virginia Kimbrough Clark Reese & Thomas Matt Reese Trust ($1.0m), JCF Weisberg Mortimer Mem FD Trust ($1.0m) and Giving Branch Foundation ($1.0m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $1.1m against liabilities of $23k, net assets of $1.1m.