Lenoir-Rhyne University

Analysis

Lenoir-Rhyne University is a registered charity in United States, based in Hickory, NC. It received its IRS tax-exemption ruling in May 1945, 81 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, Lenoir-Rhyne University reported income of $98.6m and spending of $100.0m, spending 101% of its income. Across the 5 years on record, from May 2019 to May 2023, income fell from $101.6m to $98.6m (-3.0%), an average of -0.8% a year. The sharpest change came in the year to May 2022, when income rose by 19%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lenoir-Rhyne University sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within NC. Charities of a similar size with the same main cause include Khan Academy Inc ($98.3m), Catawba College ($98.7m) and Education Service Center Region Xiii ($98.3m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 16% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $1.9m (1.9% of expenses). Other salaries and wages came to $21.0m. At year end it held assets of $291.2m against liabilities of $77.9m, net assets of $213.4m. It reported 976 employees.