New Hanover County Financing Corporation

Analysis

New Hanover County Financing Corporation is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in May 1998, 28 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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, New Hanover County Financing Corporation reported income of $21.7m and spending of $21.7m, spending 100% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $9.4m to $21.7m (+130%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 55%. 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 Hanover County Financing Corporation sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include Family Y Young Mens Christian Assoc-Ywca of the Csra Inc ($21.7m), Portland Opportunities Industrialization Center Inc ($21.7m) and National Alliance for Research on Schizophrenia and Depression Inc ($21.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $240.9m against liabilities of $240.9m, net assets of $0.