Education Foundation Inc of Caldwell County

Analysis

Education Foundation Inc of Caldwell County is a registered charity in United States, based in Lenoir, NC. It received its IRS tax-exemption ruling in December 1989, 37 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 2023, Education Foundation Inc of Caldwell County reported income of $517k and spending of $663k, spending 128% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.3m to $517k (-60%), an average of -26% a year. The sharpest change came in the year to June 2021, when income dropped by 66%. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Education Foundation Inc of Caldwell County sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within NC. Charities of a similar size with the same main cause include Chittenango Child Care Center Inc ($517k), Pioneer Association of the State of Washington ($517k) and Next Prep Kids Inc ($517k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% of the total. Compensation of current officers, directors and key employees was $78k (12% of expenses). Other salaries and wages came to $19k. At year end it held assets of $5.8m against liabilities of $0, net assets of $5.8m. It reported 3 employees.

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.