NC State University Partnership Corporation

Analysis

NC State University Partnership Corporation is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in March 1986, 40 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, NC State University Partnership Corporation reported income of $11.5m and spending of $11.9m, spending 103% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $1.0m to $11.5m (+1049%), an average of +63% a year. The sharpest change came in the year to June 2020, when income rose by 538%. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, NC State University Partnership Corporation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Practical Farmers of Iowa ($11.5m), Texas Chiropractic College Foundation Inc ($11.5m) and Coastal Community Action Inc ($11.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 65% and program service revenue 23% of the total. At year end it held assets of $37.7m against liabilities of $16.5m, net assets of $21.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.