United Way of Coastal Carolina Inc

Analysis

United Way of Coastal Carolina Inc is a registered charity in United States, based in New Bern, NC. It received its IRS tax-exemption ruling in April 1963, 63 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, United Way of Coastal Carolina Inc reported income of $731k and spending of $834k, spending 114% of what it took in. Across the 5 years on record, from December 2018 to December 2022, income fell from $877k to $731k (-17%), an average of -4.4% a year. The sharpest change came in the year to December 2019, when income rose by 112%. Over the whole period it spent 87% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, United Way of Coastal Carolina Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within NC. Charities of a similar size with the same main cause include Moreshet Bat Sheva- Orchot Yosher Inc ($731k), Cardinal Properties Inc ($731k) and GVTC Foundation Inc ($731k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $56k (6.7% of expenses). Other salaries and wages came to $154k. At year end it held assets of $1.5m against liabilities of $148k, net assets of $1.3m. It reported 7 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.