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N.C. snapshot – $34.3B in assets

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Assets of North Carolina’s 6,675 charitable nonprofits, excluding foundations, that file annual Form 990 with the Internal Revenue Service total $34.3 billion, a new study says.

Those nonprofits spend $16.1 billion, says the study, based on 1999 data and prepared by the National Center for Charitable Statistics of The Urban Institute in Washington, D.C., in partnership with the N.C. Center for Nonprofits.

Foundations control another $8.3 billion in assets, the N.C. Center says, citing The Foundation Center in New York.

North Carolina has another 13,000 charitable nonprofits with 501c(3) status, the N.C. Center says.

But it says data are not available on religious congregations or nonprofits with less than $25,000 in gross annual receipts because they are not required to file Form 990.

Hospitals account for only 2 percent of nonprofits filing Form 990 but control 35.5 percent of their assets and account for 52.2 percent of their spending.

Higher education accounts for only 1 percent of nonprofits filing Form 990 but controls 24.3 percent of their assets and accounts for 14.5 percent of their spending.

Among all nonprofits in the state filing Form 990, 19 percent focus on education, 15 percent on human services, 13 percent on health care and mental health, 11 percent on community improvement and societal benefit, 10 percent on the arts, 7 percent on food, employment and housing, 7 percent on crime, legal issue, public safety and disaster relief, 6 percent on recreation, sports and youth development, 5 percent on religion and spiritual development, excluding congregations.

The N.C. Center plans future studies in partnership with The Foundation Center and the Center for Civil Society Studies at Johns Hopkins University, including one on private foundations.

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