College of Charleston Foundation

Analysis

College of Charleston Foundation is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in February 1971, 55 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, College of Charleston Foundation reported income of $13.2m and spending of $14.6m, spending 111% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $12.6m to $13.2m (+5.0%), an average of +1.2% a year. The sharpest change came in the year to June 2023, when income rose by 16%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, College of Charleston Foundation sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within SC. Charities of a similar size with the same main cause include New Horizons Community Charter School in ($13.2m), Learning Community Charter School Inc ($13.2m) and Waldorf School of Garden City ($13.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 91% of the total. Compensation of current officers, directors and key employees was $331k (2.3% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $176.6m against liabilities of $4.1m, net assets of $172.5m. It reported 6 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.