College Foundation Inc

Analysis

College Foundation Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in November 2003, 23 years ago. 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 2023, College Foundation Inc reported income of $31.4m and spending of $27.7m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $28.1m to $31.4m (+12%), an average of +2.8% a year. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, College Foundation Inc 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 98th percentile, and in the 98th percentile within NC. Charities of a similar size with the same main cause include X Prize Foundation Inc ($31.4m), Goddard Riverside Community Center ($31.4m) and Kidspeace Childrens Hospital Inc ($31.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.0% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $851k (3.1% of expenses). Other salaries and wages came to $12.5m. At year end it held assets of $52.5m against liabilities of $7.4m, net assets of $45.1m. It reported 203 employees.