Appalachian State University Foundation Inc

Analysis

Appalachian State University Foundation Inc is a registered charity in United States, based in Boone, NC. It received its IRS tax-exemption ruling in March 1971, 55 years ago. 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, Appalachian State University Foundation Inc reported income of $33.0m and spending of $26.6m, spending 81% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $18.4m to $33.0m (+79%), an average of +22% a year. The sharpest change came in the year to June 2022, when income rose by 43%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Appalachian State University Foundation Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Goodwill Industries of West Michigan Inc ($33.0m), Jamboree Housing Corporation ($33.0m) and Community Health Programs Inc ($33.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% and program service revenue 2.3% of the total. At year end it held assets of $216.2m against liabilities of $7.3m, net assets of $208.9m.