Special Olympics North Carolina Inc

Analysis

Special Olympics North Carolina Inc is a registered charity in United States, based in Morrisville, NC. It received its IRS tax-exemption ruling in November 1972, 54 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Special Olympics North Carolina Inc reported income of $6.0m and spending of $6.5m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.1m to $6.0m (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2021, when income rose by 40%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Special Olympics North Carolina Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within NC. Charities of a similar size with the same main cause include Covenant House Georgia Inc ($6.0m), Quality Life Concepts Inc ($6.0m) and Forty Carrots of Sarasota Inc ($6.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% of the total. Compensation of current officers, directors and key employees was $207k (3.2% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $11.7m against liabilities of $931k, net assets of $10.8m. It reported 43 employees.