North Carolina Wesleyan University

Analysis

North Carolina Wesleyan University is a registered charity in United States, based in Rocky Mount, NC. It received its IRS tax-exemption ruling in August 1961, 65 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, North Carolina Wesleyan University reported income of $47.5m and spending of $52.5m, spending 110% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $54.3m to $47.5m (-12%), an average of -3.3% a year. The sharpest change came in the year to May 2020, when income rose by 18%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, North Carolina Wesleyan 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 99th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Early Learning Coalition of Osceola County Inc ($47.5m), Sisters of Saint Ann Anna Maria College ($47.6m) and Pierce County Rural Library District ($47.5m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 11% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $933k (1.8% of expenses). Other salaries and wages came to $11.3m. At year end it held assets of $60.7m against liabilities of $16.1m, net assets of $44.5m. It reported 791 employees.