Paine College

Analysis

Paine College is a registered charity in United States, based in Augusta, GA. It received its IRS tax-exemption ruling in February 1976, 50 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Paine College reported income of $12.5m and spending of $13.2m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $16.3m to $12.5m (-24%), an average of -6.5% a year. The sharpest change came in the year to June 2022, when income rose by 42%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Paine College sits at the 94th 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 96th percentile within GA. Charities of a similar size with the same main cause include Treasure Coast Classical Academy Inc ($12.4m), Big Ten Academic Alliance ($12.5m) and Oregonians for Online Education Inc ($12.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 40% of the total. Compensation of current officers, directors and key employees was $440k (3.3% of expenses). At year end it held assets of $37.0m against liabilities of $20.0m, net assets of $17.0m. It reported 319 employees.