New Hanover Community Endowment Inc

Analysis

New Hanover Community Endowment Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in June 2021, 5 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 December 2023, New Hanover Community Endowment Inc reported income of $72.9m and spending of $4.8m, leaving 93% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $1.32bn to $72.9m (-94%), an average of -76% a year. The sharpest change came in the year to December 2022, when income dropped by 103%. Over the whole period it spent 1.2% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, New Hanover Community Endowment Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Inland Southern California 211 ($72.0m), Winston-Salem Foundation ($73.0m) and Rady Childrens Hospital Foundation San Diego ($71.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% of the total. Compensation of current officers, directors and key employees was $922k (19% of expenses). Other salaries and wages came to $393k. At year end it held assets of $1.41bn against liabilities of $24k, net assets of $1.41bn. It reported 10 employees.