Wofford College

Analysis

Wofford College is a registered charity in United States, based in Spartanburg, SC. It received its IRS tax-exemption ruling in July 1937, 89 years ago. 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, Wofford College reported income of $138.5m and spending of $147.0m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $134.5m to $138.5m (+3.0%), an average of +0.7% a year. The sharpest change came in the year to June 2021, when income rose by 160%. Over the whole period it spent 78% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wofford College sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within SC. Charities of a similar size with the same main cause include St Vincents Ambulatory Care Inc ($137.9m), Community Partnership for the Prevention of Homelessness ($138.9m) and Christus Hopkins Health Alliance ($137.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 10% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $1.2m (0.8% of expenses). Other salaries and wages came to $32.9m. At year end it held assets of $681.0m against liabilities of $97.2m, net assets of $583.7m. It reported 1,202 employees.