Charleston Southern University

Analysis

Charleston Southern University is a registered charity in United States, based in N Charleston, SC. It received its IRS tax-exemption ruling in March 1964, 62 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 May 2023, Charleston Southern University reported income of $122.5m and spending of $111.5m, spending 91% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $94.1m to $122.5m (+30%), an average of +6.8% a year. The sharpest change came in the year to May 2022, when income rose by 16%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Charleston Southern University sits at the 99th 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 Maryland Institute ($122.2m), Ringling College of Art and Design Inc ($122.8m) and Western Michigan University Homer Stryker M D School of Medicine ($122.2m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 12% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $1.7m (1.5% of expenses). Other salaries and wages came to $26.1m. It paid $24k in professional fundraising fees. At year end it held assets of $205.1m against liabilities of $59.2m, net assets of $145.9m. It reported 1,278 employees.