MCNC

Analysis

MCNC is a registered charity in United States, based in R Triangle Park, NC. It received its IRS tax-exemption ruling in September 1980, 46 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, MCNC reported income of $64.3m and spending of $60.5m, spending 94% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $48.0m to $64.3m (+34%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 17%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, MCNC 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 99th percentile within NC. Charities of a similar size with the same main cause include Minneapolis Society of Fine Arts ($63.9m), Kenneth C Griffin Museum of Science and Industry ($64.4m) and Noblereach Foundation ($63.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.5% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $3.0m (5.0% of expenses). Other salaries and wages came to $10.9m. At year end it held assets of $150.5m against liabilities of $45.0m, net assets of $105.5m. It reported 134 employees.