NC Student Aid Association Inc

Analysis

NC Student Aid Association Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in August 1955, 71 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, NC Student Aid Association Inc reported income of $34.9m and spending of $40.0m, spending 115% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $28.0m to $34.9m (+25%), an average of +7.6% a year. The sharpest change came in the year to June 2022, when income rose by 51%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, NC Student Aid Association 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 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include University at Buffalo Surgeons Inc ($34.9m), Morristown-Beard School ($35.0m) and Brevard College Corporation ($34.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $810k (2.0% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $114.2m against liabilities of $35.0m, net assets of $79.2m. It reported 34 employees.