Montreat College

Analysis

Montreat College is a registered charity in United States, based in Montreat, NC. It received its IRS tax-exemption ruling in April 1947, 79 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 June 2023, Montreat College reported income of $54.0m and spending of $42.0m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $26.9m to $54.0m (+101%), an average of +19% a year. The sharpest change came in the year to June 2022, when income rose by 50%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Montreat College sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include University of Maryland Baltimore Foundation Inc ($53.9m), Latin School of Chicago ($54.2m) and International School of San Francisco ($53.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $563k (1.3% of expenses). Other salaries and wages came to $10.6m. At year end it held assets of $66.6m against liabilities of $11.8m, net assets of $54.8m. It reported 347 employees.