Common Wealth Charlotte

Analysis

Common Wealth Charlotte is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in February 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Common Wealth Charlotte reported income of $1.2m and spending of $1.3m, spending 109% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.2m to $1.2m (-5.5%), an average of -1.9% a year. The sharpest change came in the year to June 2022, when income rose by 22%. Over the whole period it spent 80% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Common Wealth Charlotte sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within NC. Charities of a similar size with the same main cause include Genesis Christian School Inc ($1.2m), Arkansas Aims ($1.2m) and Family of Faith Christian University a Corporation ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $131k (10% of expenses). Other salaries and wages came to $696k. At year end it held assets of $1.3m against liabilities of $3,070, net assets of $1.3m. It reported 12 employees.