Aspire Carolinas Foundation Inc

Analysis

Aspire Carolinas Foundation Inc is a registered charity in United States, based in Belmont, NC. It received its IRS tax-exemption ruling in June 2018, 8 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 June 2023, Aspire Carolinas Foundation Inc reported income of $5.2m and spending of $1.2m, leaving 77% of income unspent that year. Across the 6 years on record, from June 2018 to June 2023, income grew from $206k to $5.2m (+2450%), an average of +91% a year. The sharpest change came in the year to June 2019, when income rose by 2829%. Over the whole period it spent 30% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Aspire Carolinas Foundation Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NC. Charities of a similar size with the same main cause include Illinois Prairie Community Foundation Inc ($5.2m), Elkhorn Slough Foundation ($5.2m) and Opera Colorado Foundation ($5.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Other salaries and wages came to $662k. At year end it held assets of $12.9m against liabilities of $0, net assets of $12.9m. It reported 11 employees.