North Carolina Arts Foundation

Analysis

North Carolina Arts Foundation is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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, North Carolina Arts Foundation reported income of $2.1m and spending of $619k, leaving 71% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $622k to $2.1m (+238%), an average of +36% a year. The sharpest change came in the year to June 2024, when income rose by 700%. Over the whole period it spent 72% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, North Carolina Arts Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Network of Schools of Public Policy Affairs and Administration ($2.1m), Dade Amateur Golf Association Inc ($2.1m) and California Thoroughbred Horsemens Foundation ($2.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $95k (15% of expenses). At year end it held assets of $2.3m against liabilities of $4,315, net assets of $2.3m.