Civic Intelligence

A J Fletcher Foundation

990 • Fiscal year 2023 • EIN 23-7423031

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 14, 2024

Organization ProfileWWW.AJF.ORG

View Organization Page

909 Glenwood AvenueRaleigh, NC 27605

(919) 322-2580

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

2nd percentile

0.00x

Higher debt load relative to assets than 2% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Liabilities / Revenue

3rd percentile

0.01x

Higher debt load relative to revenue than 3% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Net Margin

7th percentile

-33%

Higher net margin than 7% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Top Officer Pay

8th percentile

$253,310

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2023

Asset Growth

71st percentile

9.8%

Faster asset growth than 71% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-94%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets2nd percentile

Assets

Up

$263,837,938

Up $23,611,493 (+9.8%) from 2022

Net Assets

Up

$263,790,958

Up $23,623,628 (+9.8%) from 2022

Liabilities

Down

$46,980

Down $12,135 (-21%) from 2022

Revenue And Expenses
Liabilities / Revenue3rd percentileNet Margin7th percentile

Revenue

Down

$6,065,550

Down $97,123,845 (-94%) from 2022

Expenses

Up

$8,073,377

Up $24,084 (+0.3%) from 2022

Net Income

Down

-$2,007,827

Down $97,147,929 (-102%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300M$200M$100M$0Assets 2019: $146,008,574Liabilities 2019: $26,687Net Assets 2019: $145,981,8872019Assets 2020: $154,919,685Liabilities 2020: $23,091Net Assets 2020: $154,896,5942020Assets 2021: $168,653,502Liabilities 2021: $61,537Net Assets 2021: $168,591,9652021Assets 2022: $240,226,445Liabilities 2022: $59,115Net Assets 2022: $240,167,3302022Assets 2023: $263,837,938Liabilities 2023: $46,980Net Assets 2023: $263,790,9582023Assets 2024: $279,221,023Liabilities 2024: $103,408Net Assets 2024: $279,117,6152024

Highlighted filing

2023

Assets$263,837,938
Liabilities$46,980
Net Assets$263,790,958
Open 2023 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0-$50MRevenue 2019: $36,531,568Expenses 2019: $13,079,113Net Income 2019: $23,452,4552019Revenue 2020: $78,045,637Expenses 2020: $21,929,107Net Income 2020: $56,116,5302020Revenue 2021: $53,698,336Expenses 2021: $16,213,183Net Income 2021: $37,485,1532021Revenue 2022: $103,189,395Expenses 2022: $8,049,293Net Income 2022: $95,140,1022022Revenue 2023: $6,065,550Expenses 2023: $8,073,377Net Income 2023: -$2,007,8272023Revenue 2024: $12,098,985Expenses 2024: $10,308,195Net Income 2024: $1,790,7902024

Highlighted filing

2023

Revenue$6,065,550
Expenses$8,073,377
Net Income-$2,007,827
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 14, 2024
Return Version
2023v5.1
Gross Receipts
$52,750,815
Mission and Program Overview

Mission

See schedule othe a. J. Fletcher foundation operates for the exclusive benefit of the fletcher academy, school of achievement, inc. And in furtherance of a purpose of the fletcher academy, a designated class of other charitable organizations. Through its grants, the foundation supports the fletcher academy and other public charities located in north carolinaor serving north carolina residents that have as one of their purposesthe care or support of the elderly, infirm or indigent, the promotionof education, artistic endeavors, communication arts, or publicrecreation or the fostering of religious faith.

See schedule o narrative for part iii, line 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$205,087,139$213,547,564▲ $8,460,425
Investments Other Securities$32,113,381$33,530,778▲ $1,417,397
Savings and Temporary Cash Investments$253,118$11,384,174▲ $11,131,056
Land, Buildings, and Equipment, Net$2,623,499$5,230,005▲ $2,606,506
Cash and Non-Interest-Bearing Accounts$109,904$106,238▼ $3,666
Other Notes and Loans Receivable, Net$33,000$33,676▲ $676
Accounts Receivable$4,936$4,149▼ $787
Prepaid Expenses and Deferred Charges$114$0▼ $114
Total Assets$240,226,445$263,837,938▲ $23,611,493
Other Assets Total$1,354$1,354→ $0
Liabilities
Accounts Payable and Accrued Expenses$59,115$46,980▼ $12,135
Total Liabilities$59,115$46,980▼ $12,135
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$240,167,330$263,790,958▲ $23,623,628
Total Net Assets Fund Balance$240,167,330$263,790,958▲ $23,623,628
Total Liabilities and Net Assets / Fund Balance$240,226,445$263,837,938▲ $23,611,493

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,671,512$723,756$2,395,268
Land$3,427,257-$680,627
Equipment$86,873$63,807$150,680
Other Land Buildings$25,563$25,869$51,432
Leasehold Improvements$18,800$12,146$30,946
Other Securities$4,753,344--
Compensation and Service Providers
Top Officer Pay8th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Damon J CircostaV.p/ Exec. Dir./asst SecreFT$183,071$70,239$253,310

Board Members and Trustees

NameTitle
James F GoodmonChairman of the Board
Barbara L GoodmonPresident
Beth BriggsDirector
Greg PattersonDirector
James F Goodmon JrDirector
Maria SpauldingDirector
Michael GoodmonDirector
Steve HammelDirector
Daniel P McgrathTreasurer/secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Wells FargoInvestment Fees4208 SIX FORKS RD STE 120, Raleigh, NC 27609$217,885
VanguardInvestment FeesPO BOX 3009, Monroe, WI 53566$158,424
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$4,698,561
Other Revenue
$1,366,989
Change in Net Assets
$-2,007,827
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$6,677,600
Other Expenses$857,241
Salaries, Compensation, and Employee Benefits$538,536
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$6,677,600--$6,677,600
Fees for Service Investment Mgmnt Fees-$376,309-$376,309
Current Officers, Directors, Trustees, and Key Employees$189,982$63,328-$253,310
Other Salaries and Wages$135,081$35,810-$170,891
Depreciation Depletion-$89,162-$89,162
Occupancy-$76,282-$76,282
Fees for Services Legal-$69,578-$69,578
Fees for Services Accounting-$58,315-$58,315
Pension Plan Contributions$32,806$9,799-$42,605
Other Employee Benefits$32,632$9,747-$42,379
Fees for Services Other-$36,669-$36,669
Payroll Taxes$22,600$6,751-$29,351
Conferences and Meetings$16,902$10,263-$27,165
Office Expenses-$22,300-$22,300
Information Technology-$19,496-$19,496
Insurance-$18,044-$18,044
Fees for Services Management$3,348$1,000-$4,348
Travel-$2,722-$2,722
Advertising-$560-$560
Other Expenses$45,697$45-$45
Total Functional Expenses$7,156,648$916,729$0$8,073,377
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
North Carolina Community Foundation IncRaleigh, NC501(c)(3)Dix Park Support$1,000,000
The Fletcher Academy School of Achievement IncRaleigh, NC501(c)(3)Campus Expansion Land Purchase$600,000
School of Journalism Foundation of North Carolina IncChapel Hill, NC501(c)(3)Broadcast Studio$500,000
The Fletcher Academy School of Achievement IncRaleigh, NC501(c)(3)General Operations$500,000
Healing Transitions IncRaleigh, NC501(c)(3)Capital Expansion$400,000
States NewsroomChapel Hill, NC501(c)(3)Nc Newsline Journalism$285,000
North Carolina Black Alliance IncRaleigh, NC501(c)(3)Civic Education Program$200,000
Occoneechee Council Inc Boy Scouts of America 421Raleigh, NC501(c)(3)Scoutreach$200,000
Southlight HealthcareRaleigh, NC501(c)(3)Capital Expansion$200,000
North Carolina Justice CenterRaleigh, NC501(c)(3)Nc Justice Center - Project Support$175,000
Common Cause Education FundWashington, DC501(c)(3)Hbcu Support$155,000
SafechildRaleigh, NC501(c)(3)Capital Expansion$150,000
Se Raleigh Promise IncRaleigh, NC501(c)(3)General Operations$105,000
CasaRaleigh, NC501(c)(3)Capital Campaign$100,000
Leadership Triangle IncRaleigh, NC501(c)(3)General Operations$100,000
North Carolina Center on Actual InnocenceDurham, NC501(c)(3)General Operations$100,000
North Carolina State University Foundation IncRaleigh, NC501(c)(3)Centennial Campus Public Art$100,000
North Carolina Wildlife FederationRaleigh, NC501(c)(3)Marine Fisheries Education$100,000
Public School Forum of North Carolina IncRaleigh, NC501(c)(3)General Operations$100,000
The Fletcher Academy School of Achievement IncRaleigh, NC501(c)(3)Literacy Outreach Grant$100,000
Triangle Community FoundationDurham, NC501(c)(3)Fund for the Triangle$100,000
United Way of the Greater Triangle IncDurham, NC501(c)(3)Housing Initiatives$100,000
Wake Forest UniversityWinston Salem, NC501(c)(3)Fletcher Scholarships$85,000
WOMEN'S CENTER OF WAKE COUNTY INCRaleigh, NC501(c)(3)Housing Navigation for Women Experiencing Homelessness$80,000
Healing Transitions IncRaleigh, NC501(c)(3)Growth and Sustainability$75,000
ST JOHN'S METROPOLITAN COMMUNITY CHURCHRaleigh, NC501(c)(3)Drop in Emergency Shelter Program$75,000
You Can VoteDurham, NC501(c)(3)Campus Education and Outreach$75,000
Designed for JoyRaleigh, NC501(c)(3)General Operations$58,000
Friends of Nc State Museum of Natural SciencesRaleigh, NC501(c)(3)Capital Expansion$55,000
Conservation Trust for North CarolinaRaleigh, NC501(c)(3)Asutsi Trail Repair and Enhancement Project$51,100
Appalachian Regional Healthcare FoundationBoone, NC501(c)(3)Hospital Capital Campaign$50,000
Community Music SchoolRaleigh, NC501(c)(3)General Operations$50,000
Lucy Daniels Center for Early ChildhoodCary, NC501(c)(3)Capacity Building$50,000
Note in the Pocket IncRaleigh, NC501(c)(3)Capital Expansion$50,000
Triangle Family Services IncRaleigh, NC501(c)(3)Capacity Building$50,000
Triangle Golf Foundation IncRaleigh, NC501(c)(3)Capital Expansion$50,000
Lotus Campaign IncCharlotte, NC501(c)(3)Homelessness Pilot Program$40,000
Activate Good IncRaleigh, NC501(c)(3)School Support Community Pta Campaign$30,000
Boys & Girls Clubs of Durham and Orange CountiesDurham, NC501(c)(3)Capital Expansion$30,000
North Carolina Community Foundation IncRaleigh, NC501(c)(3)Now Serving$30,000
Association of Governing Boards of Universities and CollegesWashington, DC501(c)(3)Support for Nc Commission on Higher Ed$25,000
Neighbor to Neighbor MinistriesRaleigh, NC501(c)(3)Capital Expansion$25,000
North Carolina Civil Liberties Union Legal Foundation IncRaleigh, NC501(c)(3)Communications and Media to Young Audiences$25,000
St Francis Springs Prayer CenterStoneville, NC501(c)(3)Retreat and Planning Support$25,000
The Family Violence Prevention Center IncRaleigh, NC501(c)(3)Facility Planning Process$25,000
The Salvation Army of Wake CountyRaleigh, NC501(c)(3)General Operations$25,000
Thegifted Arts IncRaleigh, NC501(c)(3)Capacity Building$25,000
Wake MonarchRaleigh, NC501(c)(3)General Operations$25,000
Made in DurhamDurham, NC501(c)(3)Work Study Program$18,750
Note in the Pocket IncRaleigh, NC501(c)(3)Work Study Program$18,750
Southeastern Baptist Theological SeminaryWake Forest, NC501(c)(3)Rev. J.d. Fletcher Church Planting$15,000
Clayton Cultural Arts Foundation IncClayton, NC501(c)(3)Documentary Film$10,000
Appalachian Literacy InitiativeBristol, TN501(c)(3)Literacy Support for Avery and Allegheny Counties$8,000
Book HarvestDurham, NC501(c)(3)Non-profit Internship Program$6,000
CasaRaleigh, NC501(c)(3)Non-profit Internship Program$6,000
Haven House IncRaleigh, NC501(c)(3)Non-profit Internship Program$6,000
Healing Transitions IncRaleigh, NC501(c)(3)Non-profit Internship Program$6,000
Note in the Pocket IncRaleigh, NC501(c)(3)Non-profit Internship Program$6,000
Oak City Cares IncRaleigh, NC501(c)(3)Nonprofit Internship Program$6,000
Public School Forum of North Carolina IncRaleigh, NC501(c)(3)Non-profit Internship Program$6,000
Se Raleigh Promise IncRaleigh, NC501(c)(3)Non-profit Internship Program$6,000

International Summary

Offices
0
Employees
0
Spending
$7,500

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestment Activities---$7,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“James f. Goodmon (chairman of the board), barbara l. Goodmon (president), michael goodmon (director), and james f. Goodmon jr. (director) have a family relationship. James f. Goodmon (chairman of the board) has a business relationship with james f. Goodmon jr. (director), michael goodmon (director), and daniel p. Mcgrath (treasurer/secretary).”

Form 990, Part VI, Section A, Line 8B

“The ajff does not have any standing committees with the authority to act on behalf of the governing body. When temporary committees are appointed by the board, the related meetings are contemporaneously documented.”

Form 990, Part VI, Section B, Line 11B

“Prior to filing the form 990, the completed document is forwarded to members of the board for review and comment.”

Form 990, Part VI, Section B, Line 12C

“At an annual meeting of the board of directors, the members are reminded of the policy and their obligation to comply with the policy.”

Form 990, Part VI, Section B, Line 15A

“Determination of executive director compensation is based upon comparative data of similarly qualified persons, with contemporaneous documentation. No other officers or key employees are compensated.”

Form 990, Part VI, Section C, Line 19

“These documents are available during business hours for viewing at the foundation's office.”

Filing and Contact Details

Filer

Filer Name
Aj Fletcher Foundation
EIN
23-7423031
Phone
9193222580
Address
909 GLENWOOD AVENUE, RALEIGH, NC 27605

Signing Officer

Name
Damon J Circosta
Title
Vice President/executive Director
Phone
9193222580
Signed
2024-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Damon J Circosta
Formed
1975
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
4
Employees
6
Volunteers
0

Preparer

Firm
Williams Overman Pierce Llp
Address
2501 ATRIUM DRIVE SUITE 500, RALEIGH, NC 27607
Preparer
Daniel M Lavelle CPA
Phone
9197823444
Supplemental Narrative

Additional Explanations

FORM 990, PART IV, LINE 28:

“See the schedule o description for form 990, part vi, section a, line 2, for disclosure of family relationships.”

FORM 990, PART XI, LINE 9:

“Book-tax diff tep capitola k-1 reporting 4,808. Book-tax diff briggs k-1 reportnig 19,564. Book-tax diff hvp v k-1 reporting -64,908. Book-tax diff hvp vi k-1 reporting -23,317. Book-tax diff tvp ii k-1 reporting 63,720. Book-tax diff tvp ii co-invest k-1 reporting 3,198. Rounding adjustment 2. Book-tax diff global vine k-1 reporting 16,840.”

FORM 990, PART XII, LINE 1:

“A.j. Fletcher foundation uses a modified cash basis method of accounting to prepare the financial statements and form 990. Grants are recorded when the grant payment is made. The investment in pass-through entities is recorded on the cash basis and does not reflect the k-1 activity on its books.”

FORM 990, PART XII, LINE 2C:

“This process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“Management evaluates all significant tax positions and does not believe it has taken any positions that would require the recording of any additional tax liability, nor does it believe that there are any unrealized tax benefits that would either increase or decrease within the next year. The entities are subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.”

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IRS990/Desc0THE A.J. FLETCHER FOUNDATION IS A SUPPORTING ORGANIZATION FOR THE FLETCHER ACADEMY SCHOOL OF ACHIEVEMENT, INC., SERVING NORTH CAROLINA AS AN INDEPENDENT, CO-EDUCATIONAL DAY SCHOOL WITH OVER 200 STUDENTS IN GRADES 1-12 WITH LEARNING DISABILITIES AND/OR ATTENTION DEFICIT DISORDERS. THE ACADEMY HELPS THESE SPECIAL STUDENTS MASTER BASIC ACADEMIC AND SOCIAL SKILLS WHILE INSTILLING IN THEM A POSITIVE SENSE OF THEIR OWN RESPONSIBILITY FOR LEARNING. THE SCHOOL IS ACCREDITED BY THE SOUTHERN ASSOCIATION OF INDEPENDENT SCHOOLS AND THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS.
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IRS990/Form990PartVIISectionAGrp/PersonNm0JAMES F GOODMON
IRS990/Form990PartVIISectionAGrp/PersonNm1BETH BRIGGS
IRS990/Form990PartVIISectionAGrp/PersonNm2MARIA SPAULDING
IRS990/Form990PartVIISectionAGrp/PersonNm3MICHAEL GOODMON
IRS990/Form990PartVIISectionAGrp/PersonNm4JAMES F GOODMON JR
IRS990/Form990PartVIISectionAGrp/PersonNm5GREG PATTERSON
IRS990/Form990PartVIISectionAGrp/PersonNm6STEVE HAMMEL
IRS990/Form990PartVIISectionAGrp/PersonNm7DANIEL P MCGRATH
IRS990/Form990PartVIISectionAGrp/PersonNm8BARBARA L GOODMON
IRS990/Form990PartVIISectionAGrp/PersonNm9DAMON J CIRCOSTA
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN OF THE BOARD
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER/SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt8PRESIDENT
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IRS990/MembersOrStockholdersInd00
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IRS990/MissionDesc0SEE SCHEDULE OTHE A.J. FLETCHER FOUNDATION OPERATES FOR THE EXCLUSIVE BENEFIT OF THE FLETCHER ACADEMY, SCHOOL OF ACHIEVEMENT, INC. AND IN FURTHERANCE OF A PURPOSE OF THE FLETCHER ACADEMY, A DESIGNATED CLASS OF OTHER CHARITABLE ORGANIZATIONS. THROUGH ITS GRANTS, THE FOUNDATION SUPPORTS THE FLETCHER ACADEMY AND OTHER PUBLIC CHARITIES LOCATED IN NORTH CAROLINA OR SERVING NORTH CAROLINA RESIDENTS THAT HAVE AS ONE OF THEIR PURPOSES THE CARE OR SUPPORT OF THE ELDERLY, INFIRM OR INDIGENT, THE PROMOTION OF EDUCATION, ARTISTIC ENDEAVORS, COMMUNICATION ARTS, OR PUBLIC RECREATION OR THE FOSTERING OF RELIGIOUS FAITH.
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IRS990/OtherExpensesGrp/TotalAmt15839
IRS990/OtherExpensesGrp/TotalAmt24710
IRS990/OtherExpensesGrp/TotalAmt345
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IRS990/OtherRevenueMiscGrp/Desc02021 TAX REFUNDS
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt01366989
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt035810
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0135081
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IRS990/OthNotesLoansReceivableNetGrp/BOYAmt033000
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IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06751
IRS990/PayrollTaxesGrp/ProgramServicesAmt022600
IRS990/PayrollTaxesGrp/TotalAmt029351
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt09799
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IRS990/PoliticalCampaignActyInd00
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IRS990/ProgSrvcAccomActy2Grp/Desc0IN KEEPING WITH ITS MISSION OF SUPPORTING CHARITABLE ORGANIZATIONS WITH CERTAIN PURPOSES LOCATED IN NORTH CAROLINA OR SERVING NORTH CAROLINA RESIDENTS, THE A.J. FLETCHER FOUNDATION MADE GRANTS TOTALING $5,477,600 TO CHARITABLE ORGANIZATIONS INVOLVED IN THE SUPPORT OF THE ELDERLY, INFIRM OR INDIGENT, IN EDUCATION, IN ARTISTIC ENDEAVORS, IN COMMUNICATION ARTS, IN PUBLIC RECREATION, AND IN FOSTERING RELIGIOUS FAITH. SEE ALSO SCHEDULE I, FOR A DETAILED LIST OF ALL GRANTS PAID IN 2023.
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IRS990/ProgSrvcAccomActy2Grp/GrantAmt05477600
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IRS990/PYSalariesCompEmpBnftPaidAmt0494429
IRS990/PYTotalExpensesAmt08049293
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0103189395
IRS990/QuidProQuoContributionsInd00
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IRS990/RegularMonitoringEnfrcInd01
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0253118
IRS990/SavingsAndTempCashInvstGrp/EOYAmt011384174
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
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IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd01
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IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0JAMES F. GOODMON (CHAIRMAN OF THE BOARD) OWNS A CONTROLLING VOTING INTEREST, BUT NOT A CONTROLLING VALUE INTEREST, IN CAPITOL HOLDING COMPANY, INC. AND SUBSIDIARIES. JAMES F. GOODMON, JR. (DIRECTOR) OWNS A NON-CONTROLLING INTEREST IN CAPITOL HOLDING COMPANY, INC. AND SUBSIDIARIES. MICHAEL GOODMON (DIRECTOR) OWNS A NON-CONTROLLING INTEREST IN CAPITOL HOLDING COMPANY, INC. AND SUBSIDIARIES.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1IN KEEPING WITH ITS MISSION OF SUPPORTING CHARITABLE ORGANIZATIONS WITH CERTAIN PURPOSES LOCATED IN NC OR SERVING NC RESIDENTS, THE A.J. FLETCHER FOUNDATION MADE GRANTS TOTALING $5,477,600 TO CHARITABLE ORGANIZATIONS INVOLVED IN THE SUPPORT OF THE ELDERLY, INFIRM OR INDIGENT, IN EDUCATION, IN ARTISTIC ENDEAVORS, IN COMMUNICATION ARTS, IN PUBLIC RECREATION AND IN FOSTERING RELIGIOUS FAITH. SEE ALSO SCHEDULE I FOR A DETAILED LIST OF ALL GRANTS PAID IN 2023. THE A. J. FLETCHER FOUNDATION OPERATES FOR THE EXCLUSIVE BENEFIT OF THE FLETCHER ACADEMY, SCHOOL OF ACHIEVEMENT, INC. (THE "FLETCHER ACADEMY") AND IN FURTHERANCE OF A PURPOSE OF THE FLETCHER ACADEMY, A DESIGNATED CLASS OF OTHER CHARITABLE ORGANIZATIONS. THE ARTICLES OF INCORPORATION OF THE A. J. FLETCHER FOUNDATION PROVIDE IN RELEVANT PART AS FOLLOWS: 2. PURPOSE. THE PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED ARE: . . . B. TO SUPPORT AND AT ALL TIMES HEREAFTER TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF: (1) THE FLETCHER ACADEMY, SCHOOL OF ACHIEVEMENT, INC., A NORTH CAROLINA NONPROFIT CORPORATION, AND (2) ANY ORGANIZATION (I) DESCRIBED IN SECTION 509(A)(1) OR SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, OR THE CORRESPONDING PROVISIONS OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAWS, (II) CONTRIBUTIONS TO WHICH ARE DEDUCTIBLE UNDER SECTIONS 170(C), 2055(A) AND 2522(A) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, OR THE CORRESPONDING PROVISIONS OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAWS, (III) LOCATED OR CONDUCTING ANY PART OF ITS ACTIVITIES IN NORTH CAROLINA OR IN A MANNER BENEFITING RESIDENTS OF NORTH CAROLINA, AND (IV) WHICH HAS AS ONE OF ITS PURPOSES OR FUNCTIONS ANY OF THE FOLLOWING: (A) THE PROMOTION OF EDUCATION OR THE ADVANCEMENT OR PRESERVATION OF KNOWLEDGE INCLUDING, WITHOUT LIMITATION, THE OPERATION OF A SCHOOL, COLLEGE, UNIVERSITY, LIBRARY OR MUSEUM; (B) THE CARE OR SUPPORT OF THE ELDERLY, INFIRM, OR INDIGENT; (C) THE PROMOTION, ENCOURAGEMENT OR SUPPORT OF MUSICAL, THEATRICAL, VISUAL OR OTHER ARTISTIC ENDEAVORS; (D) THE PROMOTION, ENCOURAGEMENT OR SUPPORT OF MASS MEDIA OR OTHER COMMUNICATION ARTS; (E) THE PROMOTION, ENCOURAGEMENT OR SUPPORT OF PUBLIC RECREATION INCLUDING, WITHOUT LIMITATION, THE SUPPORT OF PUBLIC PARKS OR PLAYGROUNDS; OR (F) THE FOSTERING OF RELIGIOUS FAITH. THE ARTICLES OF INCORPORATION OF THE FLETCHER ACADEMY PROVIDE IN RELEVANT PART AS FOLLOWS: 4. PURPOSES. THE PURPOSES FOR WHICH THE CORPORATION IS TO BE FORMED ARE FOR SCIENTIFIC, EDUCATIONAL, AND CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1954 AND IN THIS CONNECTION, TO PROMOTE THE LEARNING ABILITIES AND WELFARE OF CHILDREN IN HOME, SCHOOL, AND COMMUNITY, TO RAISE THE STANDARDS OF HOME LIFE; AND TO BRING INTO CLOSER RELATION THE HOME AND THE SCHOOL, THAT PARENTS AND TEACHERS MAY COOPERATE INTELLIGENTLY IN THE TRAINING OF CHILDREN AND MORE SPECIFICALLY WITH THE ACHIEVEMENT SCHOOL, 2610 GLENWOOD AVE., RALEIGH, NORTH CAROLINA, . . .; TO SUPPORT OTHER ORGANIZATIONS (A) DESCRIBED IN SECTION 509(A)(1) OR SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, OR THE CORRESPONDING PROVISIONS OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAW, (B) CONTRIBUTIONS TO WHICH ARE DEDUCTIBLE UNDER SECTIONS 170(C), 2055(A) AND 2522(A) OF THE INTERNAL REVENUE CODE OF 1986 AS AMENDED, OR THE CORRESPONDING PROVISIONS OF ANY FUTURE UNITED STATES INTERNAL REVENUE LAW, (C) LOCATED OR CONDUCTING ANY PART OF THEIR ACTIVITIES IN NORTH CAROLINA OR IN A MANNER BENEFITING RESIDENTS OF NORTH CAROLINA, AND (D) WHICH HAVE AS ONE OF THEIR PURPOSES OR FUNCTIONS ANY OF THE FOLLOWING: (I) THE PROMOTION OF EDUCATION OR THE ADVANCEMENT OR PRESERVATION OF KNOWLEDGE INCLUDING, WITHOUT LIMITATION, THE OPERATION OF A SCHOOL, COLLEGE, UNIVERSITY, LIBRARY OR MUSEUM, (II) THE CARE OR SUPPORT OF THE ELDERLY, INFIRM, OR INDIGENT, (III) THE PROMOTION, ENCOURAGEMENT OR SUPPORT OF MUSICAL, THEATRICAL, VISUAL, OR OTHER ARTISTIC ENDEAVORS, (IV) THE
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART IV, SECTION A, LINE 9B AND 9C:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION A, LINE 6:
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0581447219
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt01200000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0THE FLETCHER ACADEMY
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IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt01200000
IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt012146
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt030946
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt025563
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt025869
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt051432
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt02509419
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt115725203
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt23339277
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt31461187
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt41000000
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt5812854
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt63929494
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt74753344
IRS990ScheduleD/OtherSecuritiesGrp/Desc0BRIGGS RESTORATION LTD. LLC
IRS990ScheduleD/OtherSecuritiesGrp/Desc1CAPITOL HOLDING COMPANY, INC. AND SUBSIDIARIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc2GLOBAL VINE, LLC
IRS990ScheduleD/OtherSecuritiesGrp/Desc3HATTERAS VENTURE PARTNERS V, L.P.
IRS990ScheduleD/OtherSecuritiesGrp/Desc4TEP CAPITOLA INVESTMENT, LLC
IRS990ScheduleD/OtherSecuritiesGrp/Desc5HATTERAS VENTURE PARTNERS VI, L.P.
IRS990ScheduleD/OtherSecuritiesGrp/Desc6TVP II
IRS990ScheduleD/OtherSecuritiesGrp/Desc7TVP/CO-INVESTMENT FUND
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd4C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd5C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd6C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd7C
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT EVALUATES ALL SIGNIFICANT TAX POSITIONS AND DOES NOT BELIEVE IT HAS TAKEN ANY POSITIONS THAT WOULD REQUIRE THE RECORDING OF ANY ADDITIONAL TAX LIABILITY, NOR DOES IT BELIEVE THAT THERE ARE ANY UNREALIZED TAX BENEFITS THAT WOULD EITHER INCREASE OR DECREASE WITHIN THE NEXT YEAR. THE ENTITIES ARE SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05230005
IRS990ScheduleD/TotalBookValueSecuritiesAmt033530778

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$263,837,938
Liabilities
$46,980
Net assets
$263,790,958
Revenue
$6,065,550
Expenses
$8,073,377
Net income
-$2,007,827
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$279$0.10$279$12.1$10.3$1.79
2023Detailed filing. Detailed filing data is available for this year.$264$0.05$264$6.07$8.07$2.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$240$0.06$240$103$8.05$95.1
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$169$0.06$169$53.7$16.2$37.5
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$155$0.02$155$78.0$21.9$56.1
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$146$0.03$146$36.5$13.1$23.5