North Carolina Employee Ownership Center

Analysis

North Carolina Employee Ownership Center is a registered charity in United States, based in Durham, NC. It received its IRS tax-exemption ruling in January 2020, 6 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, North Carolina Employee Ownership Center reported income of $250k and spending of $157k, leaving 37% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $216k to $250k (+16%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 66% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, North Carolina Employee Ownership Center sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 56th percentile within NC. Charities of a similar size with the same main cause include Keep Durham Beautiful Inc ($250k), Sleepy Coffee Too Inc ($250k) and Asociacion de Emprendedores ($250k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 101% of the total. Compensation of current officers, directors and key employees was $59k (37% of expenses). Other salaries and wages came to $41k. It paid $18k in professional fundraising fees. At year end it held assets of $219k against liabilities of $3,889, net assets of $215k. It reported 3 employees.