New Charlotte Corporation

Analysis

New Charlotte Corporation is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in August 1991, 35 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 June 2023, New Charlotte Corporation reported income of $35.9m and spending of $35.9m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $46.8m to $35.9m (-23%), an average of -6.4% a year. The sharpest change came in the year to June 2021, when income dropped by 22%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Charlotte Corporation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Kalihi Palama Health Center ($35.7m), Texas Organ Sharing Alliance ($35.9m) and Keswick Multi Care Center Inc ($35.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% of the total. At year end it held assets of $797.1m against liabilities of $797.1m, net assets of $0.