Louisburg College

Analysis

Louisburg College is a registered charity in United States, based in Louisburg, NC. It received its IRS tax-exemption ruling in May 1946, 80 years ago. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2023, Louisburg College reported income of $14.8m and spending of $16.5m, spending 111% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $19.9m to $14.8m (-26%), an average of -7.1% a year. The sharpest change came in the year to May 2023, when income dropped by 36%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Louisburg College sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include National Head Start Association ($14.8m), Centro Mater Child Care Servicesinc ($14.8m) and Maranatha Village Inc ($14.8m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 15% and program service revenue 81% of the total. Compensation of current officers, directors and key employees was $262k (1.6% of expenses). Other salaries and wages came to $2.9m. At year end it held assets of $44.4m against liabilities of $19.1m, net assets of $25.2m. It reported 287 employees.