Chowan University

Analysis

Chowan University is a registered charity in United States, based in Murfreesboro, NC. It received its IRS tax-exemption ruling in August 1949, 77 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, Chowan University reported income of $36.1m and spending of $40.2m, spending 111% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $48.1m to $36.1m (-25%), an average of -6.9% a year. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Chowan University 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 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Minneapolis College of Art & Design ($36.1m), Crescent View West Public Charter Inc ($36.1m) and Thomas Aquinas College ($36.1m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 23% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $738k (1.8% of expenses). Other salaries and wages came to $9.8m. At year end it held assets of $87.6m against liabilities of $9.9m, net assets of $77.7m. It reported 615 employees.