North Carolina Textile Foundation Inc

Analysis

North Carolina Textile Foundation Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in August 1943, 83 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, North Carolina Textile Foundation Inc reported income of $6.9m and spending of $4.7m, leaving 32% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income fell from $8.6m to $6.9m (-20%), an average of -5.3% a year. The sharpest change came in the year to June 2021, when income rose by 67%. Over the whole period it spent 48% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, North Carolina Textile Foundation Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NC. Charities of a similar size with the same main cause include University of Central Oklahoma FDN ($6.9m), Harborlight Montessori School Inc ($6.9m) and Xavier Charter School Inc ($6.9m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 86% and program service revenue 0.2% of the total. Other salaries and wages came to $782k. At year end it held assets of $92.8m against liabilities of $395k, net assets of $92.4m.