North Carolina Masonic Foundation Inc

Analysis

North Carolina Masonic Foundation Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in July 1941, 85 years ago. Its declared purposes cover mutual and membership benefit, which this site groups under other charitable purposes. 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 December 2022, North Carolina Masonic Foundation Inc reported income of $1.6m and spending of $2.0m, spending 126% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $1.3m to $1.6m (+22%), an average of +7.0% a year. The sharpest change came in the year to December 2021, when income rose by 202%. Over the whole period it spent 188% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, North Carolina Masonic Foundation Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within NC. Charities of a similar size with the same main cause include The Sharing Shelf Inc ($1.6m), Boys & Girls Clubs of Geneva Inc ($1.6m) and Palmetto State Growth Fund Inc ($1.6m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 75% of the total. Other salaries and wages came to $398k. At year end it held assets of $23.2m against liabilities of $359k, net assets of $22.9m. It reported 3 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.