Elon University

Analysis

Elon University is a registered charity in United States, based in Elon, NC. It received its IRS tax-exemption ruling in May 1939, 87 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Elon University reported income of $389.1m and spending of $364.6m, spending 94% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $333.5m to $389.1m (+17%), an average of +3.9% a year. Over the whole period it spent 91% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Elon University sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NC. Charities of a similar size with the same main cause include Catholic University of America ($388.3m), Renaissance Charter School Inc ($389.7m) and Wellesley College ($385.6m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 4.9% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $2.6m (0.7% of expenses). Other salaries and wages came to $124.7m. It paid $153k in professional fundraising fees. At year end it held assets of $1.09bn against liabilities of $255.0m, net assets of $834.8m. It reported 4,608 employees.