Carolina University

Analysis

Carolina University is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in July 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, Carolina University reported income of $18.8m and spending of $18.0m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $11.6m to $18.8m (+62%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 22%. Over the whole period it spent 103% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Carolina University sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Leslie Shankman School Corporation ($18.8m), University of West Georgia Foundation Inc ($18.8m) and Ascent Classical Academy Charter Schools Inc ($18.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $399k (2.2% of expenses). Other salaries and wages came to $5.6m. At year end it held assets of $18.0m against liabilities of $12.7m, net assets of $5.2m.