Spirit of Excellence Inc

Analysis

Spirit of Excellence Inc is a registered charity in United States, based in Burlington, NC. It received its IRS tax-exemption ruling in January 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Spirit of Excellence Inc reported income of $859k and spending of $624k, leaving 27% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $419k to $859k (+105%), an average of +27% a year. The sharpest change came in the year to December 2022, when income rose by 35%. Over the whole period it spent 76% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Spirit of Excellence Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 78th percentile within NC. Charities of a similar size with the same main cause include Konocti Christian Academy ($859k), Plumbers & Pipefitters Local Union 300 Education & Training TR Fund ($859k) and David a Howe Public Library ($859k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 55% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $38k (6.1% of expenses). Other salaries and wages came to $266k. At year end it held assets of $2.6m against liabilities of $1.7m, net assets of $895k. It reported 26 employees.