North Carolina Medical Society Foundation Inc

Analysis

North Carolina Medical Society Foundation Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in December 1967, 59 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 December 2023, North Carolina Medical Society Foundation Inc reported income of $3.3m and spending of $1.5m, leaving 56% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.9m to $3.3m (-33%), an average of -9.4% a year. The sharpest change came in the year to December 2020, when income rose by 426%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, North Carolina Medical Society Foundation Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within NC. Charities of a similar size with the same main cause include Tennessee 4-H Foundation Inc ($3.3m), United Day School of Laredo Inc ($3.3m) and Allergy and Asthma Network-Mothers of Asthmatics Inc ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 6.0% of the total. Compensation of current officers, directors and key employees was $368k (25% of expenses). Other salaries and wages came to $258k. At year end it held assets of $24.9m against liabilities of $1.4m, net assets of $23.4m.