Carolina Hurricanes Foundation Inc
Carolina Hurricanes Foundation: Strong Program Spending, Limited Transparency
EIN: 222652765 · Raleigh, NC · NTEE: T22Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $612K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $100,000 |
| Net Assets | $1.1M |
| Transparency Score | 75/100 |
Is Carolina Hurricanes Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carolina Hurricanes Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carolina Hurricanes Foundation Inc
Carolina Hurricanes Foundation Inc (EIN: 222652765) is a nonprofit organization based in Raleigh, NC, classified under NTEE code T22Z. The organization reported total revenue of $1.8M and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carolina Hurricanes Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carolina Hurricanes Foundation Inc is a mid-size nonprofit that has been operating for 40 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.0M |
| Total Expenses | $612K |
| Surplus / Deficit | +$393K |
| Total Assets | $1.1M |
| Total Liabilities | $23K |
| Net Assets | $1.1M |
| Operating Margin | 39.1% |
| Debt-to-Asset Ratio | 2.1% |
| Months of Reserves | 21.3 months |
Financial Health Grade: A
In 2023, Carolina Hurricanes Foundation Inc reported a surplus of $393K with revenue exceeding expenses, holds 21.3 months of operating reserves (strong position), has a debt-to-asset ratio of 2.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Carolina Hurricanes Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +35.1% | +60.4% | +20.3% |
| 2022 | +203.5% | +119.9% | +51.6% |
| 2021 | -69.9% | -78.2% | +19.6% |
| 2020 | -11.6% | -2.6% | +65.0% |
| 2019 | +52.5% | +35.8% | +67.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1986 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Carolina Hurricanes Foundation Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Carolina Hurricanes Foundation Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $393K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.1%.
Executive Compensation Analysis
Executive compensation is not reported in the provided filings, indicating that no officers, directors, or trustees received more than $100,000 in reportable compensation from the organization or related organizations.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Carolina Hurricanes Foundation Inc's IRS 990 filings:
- Lack of detailed program reporting makes impact assessment challenging.
- Limited transparency regarding specific fundraising activities and costs.
Strengths
The following positive indicators were identified for Carolina Hurricanes Foundation Inc:
- Consistently high percentage of expenses dedicated to programs (e.g., 90% in 2023).
- Healthy asset growth over the past few years, from $301,030 in 2019 to $1,883,895 in 2023.
- No reported lobbying expenses, indicating a focus on direct charitable activities.
Frequently Asked Questions about Carolina Hurricanes Foundation Inc
Is Carolina Hurricanes Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Carolina Hurricanes Foundation Inc (EIN: 222652765) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Carolina Hurricanes Foundation Inc spend its money?
Carolina Hurricanes Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Carolina Hurricanes Foundation Inc tax-deductible?
Carolina Hurricanes Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222652765). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Carolina Hurricanes Foundation Inc CEO make?
Carolina Hurricanes Foundation Inc's highest-compensated officer earns $100,000 annually. The organization reported $1.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Carolina Hurricanes Foundation Inc's spending goes to programs?
Carolina Hurricanes Foundation Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Carolina Hurricanes Foundation Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Carolina Hurricanes Foundation Inc is above average for NTEE category T22Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Carolina Hurricanes Foundation Inc located?
Carolina Hurricanes Foundation Inc is headquartered in Raleigh, North Carolina and files with the IRS under EIN 222652765. It is classified under NTEE code T22Z.
How many years of IRS 990 filings does Carolina Hurricanes Foundation Inc have?
Carolina Hurricanes Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.8M in total revenue.
What does Carolina Hurricanes Foundation Inc do?
Carolina Hurricanes Foundation Inc is a nonprofit organization in the Philanthropy, Voluntarism & Grantmaking sector, located in Raleigh, North Carolina. It is classified under NTEE code T22Z.
How much revenue does Carolina Hurricanes Foundation Inc have?
Carolina Hurricanes Foundation Inc reported total revenue of $1,754,381. Based on 13 IRS 990 filings on record.
What are Carolina Hurricanes Foundation Inc's total assets?
Carolina Hurricanes Foundation Inc holds total assets of $1,883,895 as reported in IRS 990 filings.
Where is Carolina Hurricanes Foundation Inc located?
Carolina Hurricanes Foundation Inc is based in Raleigh, North Carolina.
What is Carolina Hurricanes Foundation Inc's EIN?
Carolina Hurricanes Foundation Inc's Employer Identification Number (EIN) is 222652765. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Carolina Hurricanes Foundation Inc?
Carolina Hurricanes Foundation Inc is classified under NTEE code T22Z (Philanthropy, Voluntarism & Grantmaking).
Is Carolina Hurricanes Foundation Inc a registered 501(c)(3)?
Yes, Carolina Hurricanes Foundation Inc is recognized as a tax-exempt organization by the IRS. EIN: 222652765.
Does Carolina Hurricanes Foundation Inc file IRS Form 990?
Yes, Carolina Hurricanes Foundation Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202307.
What was Carolina Hurricanes Foundation Inc's revenue in 2023?
In the 202307 filing period, Carolina Hurricanes Foundation Inc reported total revenue of $1,004,092, total expenses of $611,568, and net assets of $1,083,414.
Is Carolina Hurricanes Foundation Inc's revenue growing or declining?
Carolina Hurricanes Foundation Inc's revenue is growing. Revenue went from $743,119 (202207) to $1,004,092 (202307), a +35.1% change. Based on 13 filings on record.
What is Carolina Hurricanes Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Carolina Hurricanes Foundation Inc covers tax period 202307. It shows revenue of $1,004,092, expenses of $611,568, total assets of $1,083,414, and liabilities of $23,187.
How much does Carolina Hurricanes Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Carolina Hurricanes Foundation Inc allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Carolina Hurricanes Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Carolina Hurricanes Foundation Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Carolina Hurricanes Foundation Inc?
The following concerns were identified: Lack of detailed program reporting makes impact assessment challenging.. Limited transparency regarding specific fundraising activities and costs.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Carolina Hurricanes Foundation Inc's strengths?
Positive indicators for Carolina Hurricanes Foundation Inc include: Consistently high percentage of expenses dedicated to programs (e.g., 90% in 2023).. Healthy asset growth over the past few years, from $301,030 in 2019 to $1,883,895 in 2023.. No reported lobbying expenses, indicating a focus on direct charitable activities.. These findings are derived from AI analysis of the organization's financial filings.
How does Carolina Hurricanes Foundation Inc compensate executives?
Executive compensation is not reported in the provided filings, indicating that no officers, directors, or trustees received more than $100,000 in reportable compensation from the organization or related organizations. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Carolina Hurricanes Foundation Inc?
• Detailed program descriptions and impact metrics are not readily available on their website or public filings. • Financial statements lack granular breakdowns of administrative and fundraising expenses, making it difficult to assess efficiency. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the significant increase in revenue and assets, how does the foundation plan to scale its program impact and reach a broader community?
The foundation's growth from $244,866 in revenue in 2021 to $1,754,381 in 2023 suggests a strong capacity for expansion. A strategic plan outlining future program initiatives and geographic reach would provide valuable insight into their scaling efforts.
What specific types of programs are supported by the foundation, and how are their outcomes measured?
While the filings indicate a high percentage of program spending, the specific nature of these programs (e.g., youth sports, education, community development) and their measurable outcomes are not detailed. This information is crucial for understanding the foundation's impact.
Filing History
IRS 990 filing history for Carolina Hurricanes Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Carolina Hurricanes Foundation Inc's revenue has grown by 38.1%, moving from $727K to $1.0M. Total assets increased by 127.1% over the same period, from $477K to $1.1M. Total functional expenses rose by 2.1%, from $599K to $612K. In its most recent filing year (2023), Carolina Hurricanes Foundation Inc reported a surplus of $393K, with revenue exceeding expenses. The organization holds $23K in liabilities against $1.1M in assets (debt-to-asset ratio: 2.1%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.0M | $612K | $1.1M | $23K | — | View 990 |
| 2022 | $743K | $381K | $901K | $233K | — | View 990 |
| 2021 | $245K | $173K | $594K | $288K | — | View 990 |
| 2020 | $814K | $794K | $497K | $262K | — | View 990 |
| 2019 | $921K | $815K | $301K | $86K | — | View 990 |
| 2018 | $604K | $600K | $180K | $71K | — | View 990 |
| 2017 | $494K | $803K | $323K | $217K | — | View 990 |
| 2016 | $493K | $677K | $530K | $116K | — | View 990 |
| 2015 | $511K | $607K | $672K | $73K | — | View 990 |
| 2014 | $765K | $611K | $738K | $45K | — | View 990 |
| 2013 | $547K | $483K | $723K | $119K | — | View 990 |
| 2012 | $715K | $580K | $604K | $64K | — | View 990 |
| 2011 | $727K | $599K | $477K | $72K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.0M, expenses of $612K, and assets of $1.1M (revenue +35.1% year-over-year).
- 2022: Revenue of $743K, expenses of $381K, and assets of $901K (revenue +203.5% year-over-year).
- 2021: Revenue of $245K, expenses of $173K, and assets of $594K (revenue -69.9% year-over-year).
- 2020: Revenue of $814K, expenses of $794K, and assets of $497K (revenue -11.6% year-over-year).
- 2019: Revenue of $921K, expenses of $815K, and assets of $301K (revenue +52.5% year-over-year).
- 2018: Revenue of $604K, expenses of $600K, and assets of $180K (revenue +22.1% year-over-year).
- 2017: Revenue of $494K, expenses of $803K, and assets of $323K (revenue +0.3% year-over-year).
- 2016: Revenue of $493K, expenses of $677K, and assets of $530K (revenue -3.7% year-over-year).
- 2015: Revenue of $511K, expenses of $607K, and assets of $672K (revenue -33.2% year-over-year).
- 2014: Revenue of $765K, expenses of $611K, and assets of $738K (revenue +39.9% year-over-year).
- 2013: Revenue of $547K, expenses of $483K, and assets of $723K (revenue -23.6% year-over-year).
- 2012: Revenue of $715K, expenses of $580K, and assets of $604K (revenue -1.6% year-over-year).
- 2011: Revenue of $727K, expenses of $599K, and assets of $477K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carolina Hurricanes Foundation Inc:
Data Sources and Methodology
This transparency report for Carolina Hurricanes Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.