Lees-mcrae College Incorporated
Only null% goes to programs Strong reserves Growing revenue
Lees-mcrae College Incorporated is a 501(c)(3) organization based in Banner Elk, North Carolina, registered in 1959, with $52,335,611 in FY2024 revenue. CharityIndex grades it B.
Po Box 128, Banner Elk, NC, 28604 EIN 56-0529953 Since 1959
Revenue (FY2024)
$52.3M
▲ 44.1% vs prior year
Education median: $200K
Expenses (FY2024)
$47.5M
Net assets
$79.1M
Employees
—
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
★★★★
Rated on 2 of 4 criteria — the rest aren't reported in this filing type.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Lees-mcrae College Incorporated— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating20 mo reserves · +9% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Lees-mcrae College Incorporated: 20 mo reserves · +9% margin earns a A on this criterion. See the exact thresholds →
—Governance25% of the ratingNot reported in this filing type
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. Not scored for Lees-mcrae College Incorporated— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
CTransparency10% of the rating2 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Lees-mcrae College Incorporated: 2 of 5 disclosure signals earns a C on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Contact & location
- Address
- Po Box 128, Banner Elk, NC, 28604
- City
- Banner Elk
- State
- North Carolina
- Category
- Education
- Subcategory
- Colleges & Universities
- Website
- …
Financial trends
Revenue grew from $30.8M (FY2013) to $52.3M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $52.2MNet assets $79.1M
Operating margin
9.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$131.3M
Total liabilities
$52.2M
Net assets
$79.1M
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $52,335,611▲44.1% | $47,457,091▲25.7% | $79,103,992▲9.2% | $131,313,844▲6.6% | 990 |
| 2023 | $36,308,685▼5.7% | $37,744,057▲1.2% | $72,446,164▲4.7% | $123,229,175▲23.3% | 990 |
| 2022 | $38,490,806▼6.3% | $37,296,436▼0.2% | $69,167,946▲1.5% | $99,950,537▲14.0% | 990 |
| 2021 | $41,070,473▲9.3% | $37,354,274▲18.1% | $68,131,381▲1.3% | $87,696,802▲21.9% | 990 |
| 2020 | $37,578,237▲13.9% | $31,626,030▲4.2% | $67,278,784▲10.7% | $71,928,370▲9.1% | 990 |
| 2019 | $32,982,748▲12.1% | $30,349,611▼1.8% | $60,790,141▲5.6% | $65,924,509▲4.5% | 990 |
| 2018 | $29,433,682▼5.4% | $30,890,234▲9.9% | $57,541,181▼3.9% | $63,099,056▼6.3% | 990 |
| 2017 | $31,105,379▼25.7% | $28,114,622▼14.1% | $59,869,426▲6.0% | $67,374,879▲2.9% | 990 |
| 2016 | $41,865,006▲14.2% | $32,711,169▲0.6% | $56,498,163▲20.2% | $65,457,749▲14.9% | 990 |
| 2015 | $36,668,079▲6.4% | $32,514,034▲7.3% | $46,992,267▲6.9% | $56,973,238▲3.3% | 990 |
| 2014 | $34,467,276▲11.9% | $30,297,248▲11.3% | $43,965,453▲9.8% | $55,175,332▲6.0% | 990 |
| 2013 | $30,788,826 | $27,217,266▲5.3% | $40,044,754▲12.9% | $52,054,476▲9.1% | 990 |
| 2012 | — | $25,856,146▲1.7% | $35,456,662▲22.3% | $47,706,563▲13.4% | 990 |
| 2011 | — | $25,423,013▼4.6% | $29,002,023 | $42,068,795▼2.9% | 990 |
| 2010 | — | $26,641,145▼2.5% | $28,998,422▲14.5% | $43,340,640▲1.7% | 990 |
| 2009 | — | $27,323,181 | $25,332,307 | $42,616,309 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Grants received · $13.3M total
77 grants to Lees-mcrae College Incorporated totaling $13.3M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Foundation For the Carolinas | Charitable gift | 2024 | $6,939,750 |
| Lettie Pate Whitehead Foundation Inc | For general scholarship support. | 2024 | $235,000 |
| The Community Foundation of Western North Carolina Inc | Improving educational opportunities | 2024 | $68,000 |
| Bny Mellon Charitable Gift Fund | To further the organization's exempt purpose | 2024 | $50,000 |
| Winston-salem Foundation | 6 grant(s) for varying purposes | 2024 | $37,550 |
| The Community Foundation of Western North Carolina Inc | Improving educational opportunities | 2024 | $20,000 |
| Paypal Charitable Giving Fund | General support | 2024 | $10,743 |
| American Online Giving Foundation Inc | General support | 2024 | $10,324 |
| Community Foundation of Greater Greensboro Inc | General support | 2024 | $9,500 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $5,000 |
| Foundation For the Carolinas | Charitable gift | 2023 | $2,335,000 |
| Lettie Pate Whitehead Foundation Inc | For general scholarship support. | 2023 | $235,000 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $53,100 |
| Winston-salem Foundation | 2 grant(s) for varying purposes | 2023 | $37,500 |
| Bny Mellon Charitable Gift Fund | To further the organization's exempt purpose | 2023 | $25,000 |
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Frequently asked questions
- Is Lees-mcrae College Incorporated a legitimate nonprofit?
- Yes. Lees-mcrae College Incorporated is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 56-0529953, based in Banner Elk, North Carolina. Donations are tax-deductible.
- What is Lees-mcrae College Incorporated's EIN?
- Lees-mcrae College Incorporated's Employer Identification Number (EIN) is 56-0529953.
- How much revenue does Lees-mcrae College Incorporated report?
- Lees-mcrae College Incorporated reported $52,335,611 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Lees-mcrae College Incorporated have?
- CharityIndex grades Lees-mcrae College Incorporated B, based on financial health (reserves and operating margin).
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Data for Lees-mcrae College Incorporated (EIN 56-0529953) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.