Project Kitty Hawk Inc

Analysis

Project Kitty Hawk Inc is a registered charity in United States, based in Chapel Hill, NC. It received its IRS tax-exemption ruling in February 2023, 3 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Project Kitty Hawk Inc reported income of $41.2m and spending of $16.7m, leaving 60% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $4.0m to $41.2m (+930%), an average of +930% a year. The sharpest change came in the year to June 2023, when income rose by 930%. Over the whole period it spent 39% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Project Kitty Hawk Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Meeting Street Schools ($41.2m), Air & Space Forces Association ($41.2m) and City University of Seattle ($41.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $2.9m (17% of expenses). Other salaries and wages came to $670k. At year end it held assets of $30.1m against liabilities of $2.4m, net assets of $27.6m. It reported 29 employees.