The Foundation of Wayne Community College Inc

Analysis

The Foundation of Wayne Community College Inc is a registered charity in United States, based in Goldsboro, NC. It received its IRS tax-exemption ruling in October 1987, 39 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 June 2023, The Foundation of Wayne Community College Inc reported income of $2.1m and spending of $1.3m, leaving 38% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.2m to $2.1m (+71%), an average of +20% a year. The sharpest change came in the year to June 2022, when income rose by 196%. Over the whole period it spent 58% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Foundation of Wayne Community College Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include J Walter Cameron Center ($2.1m), Christian Helping Hands Inc ($2.1m) and Aid to Women Center ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% of the total. Other salaries and wages came to $225k. At year end it held assets of $11.1m against liabilities of $45k, net assets of $11.1m.