The Community Foundation of Western North Carolina Inc

Analysis

The Community Foundation of Western North Carolina Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in September 1979, 47 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2023, The Community Foundation of Western North Carolina Inc reported income of $32.0m and spending of $25.3m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $26.1m to $32.0m (+23%), an average of +5.2% a year. The sharpest change came in the year to June 2021, when income rose by 54%. Over the whole period it spent 70% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The Community Foundation of Western North Carolina 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 The Lenfest Inst for Journalism Spe Asset Fund of the PHL Foundation ($32.0m), Ohio Shared Information Services Inc ($32.1m) and Central Carolina Community Foundation ($31.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 71% and program service revenue 1.9% of the total. Compensation of current officers, directors and key employees was $1.5m (5.8% of expenses). Other salaries and wages came to $888k. At year end it held assets of $407.8m against liabilities of $103.1m, net assets of $304.7m. It reported 21 employees.