Converse University

Analysis

Converse University is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in February 1937, 89 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Converse University reported income of $34.7m and spending of $40.5m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $34.9m to $34.7m (-0.4%), an average of -0.1% a year. The sharpest change came in the year to June 2023, when income dropped by 18%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Converse University sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within SC. Charities of a similar size with the same main cause include Thomas College ($34.7m), Tabor College Inc ($34.8m) and Esperanza Academy Charter School ($34.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $949k (2.3% of expenses). Other salaries and wages came to $13.7m. At year end it held assets of $166.3m against liabilities of $33.8m, net assets of $132.4m. It reported 717 employees.