South Carolina Student Loan Corporation

Analysis

South Carolina Student Loan Corporation is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in January 1975, 51 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, South Carolina Student Loan Corporation reported income of $65.0m and spending of $47.6m, leaving 27% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income fell from $80.0m to $65.0m (-19%), an average of -4.1% a year. The sharpest change came in the year to June 2023, when income rose by 48%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, South Carolina Student Loan Corporation 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 99th percentile within SC. Charities of a similar size with the same main cause include Young Mens Christian Association of South Florida Inc ($65.0m), No AIDS Task Force ($65.0m) and Adventist Health Medical Center Tehachapi ($64.9m).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 85% of the total. Compensation of current officers, directors and key employees was $892k (1.9% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $941.3m against liabilities of $324.4m, net assets of $616.9m. It reported 37 employees.