National Council of Higher Education Loan Programs Inc

Analysis

National Council of Higher Education Loan Programs Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in March 1983, 43 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, National Council of Higher Education Loan Programs Inc reported income of $915k and spending of $1.3m, spending 137% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.3m to $915k (-27%), an average of -7.7% a year. The sharpest change came in the year to June 2023, when income dropped by 24%. Over the whole period it spent 121% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, National Council of Higher Education Loan Programs Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 53rd percentile within DC. Charities of a similar size with the same main cause include Koram Senior Housing Corporation ($915k), Friends of Foster Children of Palm Beach County Inc ($915k) and Consolidated Rural Water District 1 Nowata Rogers Counties Oklahoma ($915k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 97% of the total. Compensation of current officers, directors and key employees was $422k (34% of expenses). Other salaries and wages came to $166k. At year end it held assets of $864k against liabilities of $618k, net assets of $246k. It reported 3 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.