Carolina Friends School

Analysis

Carolina Friends School is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in July 1965, 61 years ago. 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 Friends School reported income of $16.6m and spending of $15.7m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $14.8m to $16.6m (+12%), an average of +3.0% a year. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carolina Friends School sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Promedica Foundation ($16.6m), Miracles in Sight ($16.6m) and Florida Alcohol and Drug Abuse Association Inc ($16.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $441k (2.8% of expenses). Other salaries and wages came to $6.9m. At year end it held assets of $47.3m against liabilities of $9.9m, net assets of $37.4m. It reported 302 employees.