Carolina Common Enterprise

Analysis

Carolina Common Enterprise is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in November 2013, 13 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Carolina Common Enterprise reported income of $316k and spending of $373k, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $300k to $316k (+5.4%), an average of +1.3% a year. The sharpest change came in the year to December 2021, when income rose by 36%. Over the whole period it spent 111% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Carolina Common Enterprise sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 61st percentile within NC. Charities of a similar size with the same main cause include Community Action Team-California Inc ($316k), Austin Rotary Club Foundation ($317k) and Greater Wilkes Barre Growth Partnership ($316k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $86k (23% of expenses). Other salaries and wages came to $189k. At year end it held assets of $395k against liabilities of $576k, net assets of -$181k. It reported 5 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.