First North Carolina

Analysis

First North Carolina is a registered charity in United States, based in Greensboro, NC. It received its IRS tax-exemption ruling in February 2013, 13 years ago. Its declared purposes cover youth development, which this site groups under children and youth 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 June 2024, First North Carolina reported income of $1.1m and spending of $1.1m, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $621k to $1.1m (+69%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 124%. Over the whole period it spent 95% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, First North Carolina sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 80th percentile within NC. Charities of a similar size with the same main cause include Lighthouse Christian Camp Incorporated ($1.1m), Boy Scouts of America ($1.1m) and Arizona 4-H Youth Foundation ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 98% and program service revenue 3.4% of the total. Compensation of current officers, directors and key employees was $91k (8.5% of expenses). Other salaries and wages came to $101k. At year end it held assets of $515k against liabilities of $55k, net assets of $460k. 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.