Cape Fear Literacy Council

Analysis

Cape Fear Literacy Council is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in June 1985, 41 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Cape Fear Literacy Council reported income of $656k and spending of $493k, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $573k to $656k (+15%), an average of +3.4% a year. The sharpest change came in the year to December 2020, when income dropped by 18%. Over the whole period it spent 82% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cape Fear Literacy Council 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 Lepper Library Association ($656k), The Uhnw Institute ($656k) and All Nations Community School ($656k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $46k (9.4% of expenses). Other salaries and wages came to $228k. At year end it held assets of $1.8m against liabilities of $177k, net assets of $1.6m. It reported 10 employees.