Carolina Crown Inc

Analysis

Carolina Crown Inc is a registered charity in United States, based in Pineville, NC. It received its IRS tax-exemption ruling in February 1989, 37 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 2022, Carolina Crown Inc reported income of $2.9m and spending of $3.5m, spending 118% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $2.6m to $2.9m (+13%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 284%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Carolina Crown Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include Alaska Arts Southeast Inc ($2.9m), Central Okla Community Action Agency ($2.9m) and Missouri Chamber Foundation ($2.9m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 7.7% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $113k (3.3% of expenses). Other salaries and wages came to $464k. At year end it held assets of $2.8m against liabilities of $1.1m, net assets of $1.7m. It reported 16 employees.