North Carolina Advanced Energy Corporation

Analysis

North Carolina Advanced Energy Corporation is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in June 1981, 45 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, North Carolina Advanced Energy Corporation reported income of $8.0m and spending of $8.3m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.8m to $8.0m (+2.0%), an average of +0.5% a year. The sharpest change came in the year to December 2021, when income rose by 16%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, North Carolina Advanced Energy Corporation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NC. Charities of a similar size with the same main cause include Morristown Hamblen Emergency Medical Service Company ($8.0m), Liferoots Inc ($8.0m) and Western Colorado University Foundation ($8.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.2% and program service revenue 94% of the total. Other salaries and wages came to $4.3m. At year end it held assets of $10.5m against liabilities of $2.3m, net assets of $8.2m. It reported 72 employees.