United Way of the Cape Fear Area Inc

Analysis

United Way of the Cape Fear Area Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in May 1955, 71 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general 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, United Way of the Cape Fear Area Inc reported income of $3.2m and spending of $3.4m, spending 107% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $3.0m to $3.2m (+5.5%), an average of +1.3% a year. The sharpest change came in the year to June 2023, when income rose by 58%. Over the whole period it spent 109% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of the Cape Fear Area Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Disability Advocates of Kent County ($3.2m), Strategic Global Assistance Inc ($3.2m) and Mona Foundation ($3.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 92% of the total. Compensation of current officers, directors and key employees was $100k (2.9% of expenses). Other salaries and wages came to $357k. At year end it held assets of $1.9m against liabilities of $845k, net assets of $1.0m. It reported 90 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.