Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1947.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
87 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
15 people listed on the 990; $493K paid to officers and key staff.
Petitt Charles’s $213K as President/CEO (former) is at the 42nd percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Petitt Charles | $213,013 | $183,615 | $138,730 | $126,849 | $140,000 |
| Gopalan Sandeep | — | — | — | $175,013 | $202,067 |
| Condon Steve | — | — | — | $121,919 | $132,000 |
| Burkard Heather | — | $105,625 | $74,117 | — | — |
| Zuniga Regina | $90,290 | $65,185 | $55,722 | — | — |
| Ronk Christopher | $86,569 | $73,642 | $73,856 | $72,396 | $77,000 |
| Edens Byron | — | — | — | $70,236 | $82,000 |
| Williams Willie | $79,630 | $65,248 | $56,860 | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
- Loans to or from officersSch L · Pt II2 listed
Programs and updates
Educates students through teaching, research, innovation, and collaboration, grounded in Christian principles.
Questions for Carolina University
Your first name shows with your question. Carolina University answers here, for everyone.
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Instruction, academic support, and student services associated with the provision of associate, baccalaureate, master, and doctoral programs in resident and online formats.
Auxiliary and other services in regard to the university's provision for higher education including dormitories, food service, bookstore, sporting events, and other miscellaneous student service.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $420K | $1.5M |
| InvestmentsLn 11–13 | $50K | $49K |
| Land, buildings, equipmentLn 10c | $4.0M | $3.4M |
| Total assetsLn 16 | $17.6M | $7.4M |
| LiabilitiesLn 26 | $12.9M | $6.2M |
| Net assetsLn 32 | $4.8M | $1.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $6.2M | $6.2M | ||
| Pay of current officers, directors and key staffLn 5 | $493K | $367K | $107K | $19K |
| Other salaries and wagesLn 7 | $5.5M | $4.8M | $390K | $271K |
| Pension plan contributionsLn 8 | $91K | $21K | $70K | |
| Other employee benefitsLn 9 | $572K | $126K | $447K | |
| Payroll taxesLn 10 | $349K | $313K | $22K | $14K |
| Other fees for servicesLn 11g | $440K | $200K | $214K | $25K |
| Advertising and promotionLn 12 | $128K | $600 | $128K | |
| Office expensesLn 13 | $53K | $53K | ||
| TravelLn 17 | $208K | $158K | $50K | $255 |
| InterestLn 20 | $753K | $320K | $433K | |
| Depreciation, depletion and amortizationLn 22 | $295K | $295K | ||
| InsuranceLn 23 | $137K | $31K | $107K | |
| Other expenses (24a–d)Ln 24 | $3.0M | $2.9M | $13K | $67K |
| All other expensesLn 24e | $1.1M | $973K | $136K | $22K |
| Total functional expensesLn 25 | $19.3M | $16.8M | $2.0M | $547K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $18.9M | $20.2M | −$1.2M | −$1.7M | 990 PDF |
| FY2024 Viewing | $15.8M | $19.3M | −$3.6M | $1.2M | 990 PDF |
| FY2023 | $18.8M | $18.0M | $777K | $5.2M | 990 PDF |
| FY2022 | $15.5M | $16.2M | −$707K | $4.4M | 990 PDF |
| FY2021 | $13.8M | $14.0M | −$231K | $6.3M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $15,772,748 revenue, 12 lines filed
Part VI · Governance 10 of 15 board members independent, 1 to look at
Part VIII · Statement of revenue $15,772,748 across 8 lines filed
Part IX · Statement of functional expenses $19,326,448 across 15 lines filed
Part X · Balance sheet $7,439,894 assets, 19 lines filed
Part XI · Reconciliation of net assets $1,229,706 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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