Mayland Community College Foundation

Analysis

Mayland Community College Foundation is a registered charity in United States, based in Spruce Pine, NC. It received its IRS tax-exemption ruling in April 1983, 43 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Mayland Community College Foundation reported income of $1.6m and spending of $2.5m, spending 154% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.6m (+60%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 348%. Over the whole period it spent 69% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Mayland Community College Foundation sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within NC. Charities of a similar size with the same main cause include Kirkwood Christian Schools ($1.6m), Educational Properties Inc ($1.6m) and Families Empowered ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% of the total. It paid $25k in professional fundraising fees. At year end it held assets of $9.3m against liabilities of $172k, net assets of $9.1m.