Charlotte Local Education Foundation Inc

Analysis

Charlotte Local Education Foundation Inc is a registered charity in United States, based in Pt Charlotte, FL. It received its IRS tax-exemption ruling in February 1987, 39 years ago. 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, Charlotte Local Education Foundation Inc reported income of $703k and spending of $857k, spending 122% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $394k to $703k (+78%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 579%. Over the whole period it spent 151% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Charlotte Local Education Foundation Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 77th percentile within FL. Charities of a similar size with the same main cause include St Marks Terrace Housing Development Fund Corporation ($703k), Center for Exhibition Industry Research Foundation ($703k) and Sanford Center ($703k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 6.2% of the total. Other salaries and wages came to $199k. At year end it held assets of $2.7m against liabilities of $40k, net assets of $2.7m. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.