Carolina University
Carolina University reported $18.9 million in revenue and $20.2 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $85.89 went to program services, $10.50 to management and general costs and $3.61 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 87.3% of the total. The highest compensation it reported for one person was $213,013 (PRESIDENT/CEO (FORMER)). 1 person received more than $100,000 in reportable compensation. Revenue rose 37% between FY2021 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $20MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $19M- Contributions & grants (non-government)$5.93 $1.1M
- Program service revenue$87.28 $17M
- Other revenue$6.79 $1.3M
Investment income was negative: −$8,966. The bar shows the positive sources only.
The 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 85.9% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 10.5% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 3.6% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.65 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 5.9% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 87.3% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $213,013 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.06% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 1 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | -1.0 | 13.3 |
| Independent voting board members Part VI 1a–1b | 11 of 16 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseHighest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT/CEO (FORMER) Officer, 40.00 hrs/week | $213,013 | $0 | $0 | $213,013 |
| CHIEF OPERATING OFFICER Officer, 40.00 hrs/week | $90,290 | $0 | $0 | $90,290 |
| CHIEF FINANCIAL OFFICER (FORMER) Officer, 40.00 hrs/week | $86,569 | $0 | $0 | $86,569 |
| VP STUDENT SERVICES Officer, 40.00 hrs/week | $79,630 | $0 | $0 | $79,630 |
1 people received more than $100,000 in reportable compensation from Carolina University (Part VII, line 2). Compensation of current officers, directors and key employees totaled $470K (Part IX, line 5).
5 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b16 · 11 independent
- Audited financial statements Part XII 2bNo
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26Yes
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5369
- Volunteers Part I, line 64
Private foundation grants it received
2 private foundations reported grants to Carolina University totaling $580 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Carolina University's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Carolina University, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Carolina University spent in FY2025, $85.89 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Mt Bethel Christian AcademyMarietta, GA · revenue $19M · programs 92.6% · FY2025
- National Association for the Education of Young ChildrenWashington, DC · revenue $19M · programs 76.0% · FY2025
- College Achieve Public Charter SchoolsTinton Falls, NJ · revenue $19M · programs 91.9% · FY2025
- The Tatnall SchoolWilmington, DE · revenue $19M · programs 80.0% · FY2025
- Abraham Joshua Heschel Day SchoolNorthridge, CA · revenue $19M · programs 80.7% · FY2025
All education charities · Largest charities in North Carolina
Questions people ask
How much of Carolina University's spending goes to programs?
In the fiscal year ending June 30, 2025, Carolina University reported that 85.9% of its $20.2 million in expenses went to program services, 10.5% to management and general and 3.6% to fundraising (Form 990, Part IX).
How much does Carolina University pay its top executive?
The largest total compensation Carolina University reported for one person in the fiscal year ending June 30, 2025 was $213,013, for the role of PRESIDENT/CEO (FORMER) (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Carolina University get its money?
Of $18.9 million in revenue in the fiscal year ending June 30, 2025, 5.9% came from contributions and grants and 87.3% from program service revenue (Form 990, Part VIII).
Is Carolina University a registered charity?
The IRS lists EIN 56-0594591 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202611359349307911 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202511359349305061 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202441369349309919 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202341329349303964 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202231369349304898 · read the filing
All filings for EIN 56-0594591: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.