Outer Banks Community Foundation Inc

Analysis

Outer Banks Community Foundation Inc is a registered charity in United States, based in Manteo, NC. It received its IRS tax-exemption ruling in August 1983, 43 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 December 2023, Outer Banks Community Foundation Inc reported income of $2.9m and spending of $2.7m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.2m to $2.9m (-8.5%), an average of -2.2% a year. The sharpest change came in the year to December 2023, when income rose by 36%. Over the whole period it spent 74% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Outer Banks Community Foundation Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within NC. Charities of a similar size with the same main cause include United Way of Northwest Michigan ($2.9m), Northwest Wine Benefit Foundation ($3.0m) and Jewish Federation of Greater Santa Barbara ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% of the total. Compensation of current officers, directors and key employees was $107k (3.9% of expenses). Other salaries and wages came to $164k. At year end it held assets of $25.8m against liabilities of $2.8m, net assets of $23.0m. It reported 9 employees.