Education and Research Consortium of Western North Carolina

Analysis

Education and Research Consortium of Western North Carolina is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in October 1999, 27 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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 December 2022, Education and Research Consortium of Western North Carolina reported income of $4.7m and spending of $1.9m, leaving 60% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income fell from $6.2m to $4.7m (-25%), an average of -9.0% a year. The sharpest change came in the year to December 2022, when income rose by 899%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Education and Research Consortium of Western North Carolina sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NC. Charities of a similar size with the same main cause include Palm Springs Plaza Theatre Foundation ($4.7m), Jazz House Kids Inc ($4.7m) and Iqm Research Institute ($4.7m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 2.1% and program service revenue 9.8% of the total. Compensation of current officers, directors and key employees was $214k (12% of expenses). At year end it held assets of $15.2m against liabilities of $735k, net assets of $14.4m.