Carolina Commerce & Technology Center Inc

Analysis

Carolina Commerce & Technology Center Inc is a registered charity in United States, based in Pembroke, NC. It received its IRS tax-exemption ruling in January 2001, 25 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Carolina Commerce & Technology Center Inc reported income of $229k and spending of $302k, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $313k to $229k (-27%), an average of -7.4% a year. The sharpest change came in the year to June 2023, when income dropped by 35%. Over the whole period it spent 98% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Carolina Commerce & Technology Center Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within NC. Charities of a similar size with the same main cause include Emmanuel Academies Inc ($229k), Lakeview Community Partnership ($230k) and Historic Portland Public Market Foundation ($229k).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $91k. At year end it held assets of $1.4m against liabilities of $5,000, net assets of $1.4m. It reported 2 employees.