FOUNDATION FOR THE CAROLINAS
220 N TRYON ST, CHARLOTTE, NC · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $761,389,623 | $849,185,395 | $3,847,582,206 |
| FY2023 | $538,046,453 | $582,472,149 | $3,400,205,332 |
| FY2022 | $953,517,849 | $414,316,706 | $2,989,232,991 |
| FY2021 | $770,296,528 | $584,919,704 | $2,824,793,558 |
| FY2020 | $548,689,880 | $489,891,267 | $2,327,236,179 |
| FY2019 | $289,696,942 | $351,759,763 | $2,034,110,093 |
| FY2018 | $449,681,155 | $325,310,194 | $1,766,055,193 |
| FY2017 | $662,474,205 | $435,449,740 | $1,828,864,337 |
| FY2016 | $445,365,812 | $326,772,081 | $1,441,811,190 |
| FY2015 | $382,454,798 | $297,876,975 | $1,249,303,913 |
| FY2014 | $684,331,159 | $354,254,644 | $1,217,773,925 |
| FY2013 | $317,091,144 | $195,600,475 | $875,788,450 |
| FY2012 | $215,832,204 | $175,159,255 | $676,478,885 |
| FY2011 | $148,316,177 | $144,935,548 | $586,724,426 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $656,082,748 | 97% |
| Program service revenue | $18,040,048 | 3% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $839,821,536 | 99% |
| Management & general | $8,741,442 | 1% |
| Fundraising | $622,417 | 0% |
What the numbers show
- Contributions & grants made up 97% of total revenue in FY2024.
- Program services accounted for 99% of functional expenses, management & general 1%, and fundraising 0%.
- 99% of functional expenses went to program services in FY2024. That is higher than 92.3% of 26 Philanthropy, Voluntarism & Grantmaking Foundations organizations in NC.
- Net assets covered about 54.4 months of expenses at the end of the reporting year. That puts it in the 37th percentile among 1261 Philanthropy, Voluntarism & Grantmaking Foundations organizations in NC.
- Total revenue was higher than 100.1% of 1303 Philanthropy, Voluntarism & Grantmaking Foundations organizations in NC.
- Total revenue rose from $148,316,177 in FY2011 to $761,389,623 in FY2024, Revenue increased in 9 and decreased in 4 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 3 of 14 reported years (FY2019, FY2023, FY2024).
- The highest revenue on record here is $953,517,849 in FY2022.
- Net assets grew from $586,724,426 to $3,847,582,206 between FY2011 and FY2024.
- Donations are generally tax-deductible (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
FOUNDATION FOR THE CAROLINAS IS A NON-PROFIT COMMUNITY FOUNDATION SERVING DONORS AND A BROAD RANGE OF CHARITABLE PURPOSES IN NORTH AND SOUTH CAROLINA THROUGH GRANTMAKING AND CIVIC LEADERSHIP.
IRS status
| Ruling year | 1962 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | T310 — Philanthropy, Voluntarism & Grantmaking Foundations |
| Donations | Donations are generally tax-deductible (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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