University of Mount Olive Inc

Analysis

University of Mount Olive Inc is a registered charity in United States, based in Mount Olive, NC. It received its IRS tax-exemption ruling in October 1959, 67 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, University of Mount Olive Inc reported income of $50.4m and spending of $47.1m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $50.0m to $50.4m (+0.8%), an average of +0.2% a year. The sharpest change came in the year to June 2022, when income rose by 19%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of Mount Olive Inc 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 Francis W Parker School ($50.3m), Universidad Del Sagrado Corazon Inc ($50.4m) and Central College ($50.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $1.3m (2.8% of expenses). Other salaries and wages came to $13.8m. At year end it held assets of $86.9m against liabilities of $13.4m, net assets of $73.5m. It reported 689 employees.