Carteret Community College Foundation Inc

Analysis

Carteret Community College Foundation Inc is a registered charity in United States, based in Morehead City, NC. It received its IRS tax-exemption ruling in January 1977, 49 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Carteret Community College Foundation Inc reported income of $2.6m and spending of $1.3m, leaving 51% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $2.6m (+55%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 61%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carteret Community College Foundation Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include YMCA Foundation of Wichita ($2.6m), Partners for a Healthier Community Inc ($2.6m) and Mental Health Services-Erie County Northwest Corporation I ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% of the total. Other salaries and wages came to $457k. At year end it held assets of $6.9m against liabilities of $167k, net assets of $6.7m.