Carolina Business Capital

Analysis

Carolina Business Capital is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in September 1983, 43 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 September 2023, Carolina Business Capital reported income of $647k and spending of $755k, spending 117% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $701k to $647k (-7.7%), an average of -2.0% a year. The sharpest change came in the year to September 2021, when income dropped by 37%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Carolina Business Capital sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within NC. Charities of a similar size with the same main cause include Friends of Ft Liberte ($647k), National Latino Education Institute ($647k) and Ridewise Inc ($647k).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 116% of the total. Compensation of current officers, directors and key employees was $153k (20% of expenses). Other salaries and wages came to $188k. At year end it held assets of $4.5m against liabilities of $102k, net assets of $4.4m. It reported 3 employees.