Civic Intelligence

North Carolina Outward Bound School

990 • Fiscal year 2024 • EIN 56-0857708

Jan 01, 2024 to Dec 31, 2024 • Filed on Feb 15, 2026

2582 Riceville RdAsheville, NC 28805

(828) 299-3366

Siviq Scores

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

Liabilities / Assets

34th percentile

0.08x

Higher debt load relative to assets than 34% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

53rd percentile

0.32x

Higher debt load relative to revenue than 53% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

18th percentile

-9.8%

Higher net margin than 18% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2024

Asset Growth

47th percentile

5.0%

Faster asset growth than 47% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

78th percentile

29%

Faster revenue growth than 78% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$28,688,039

Up $1,360,306 (+5.0%) from 2023

Net Assets

Up

$26,270,896

Up $1,665,336 (+6.8%) from 2023

Liabilities

Down

$2,417,143

Down $305,030 (-11%) from 2023

Revenue

Up

$7,504,454

Up $1,699,147 (+29%) from 2023

Expenses

Up

$8,240,241

Up $1,222,660 (+17%) from 2023

Net Income

Up

-$735,787

Up $476,487 (+39%) from 2023

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2011: $10,384,538Liabilities 2011: $1,924,925Net Assets 2011: $8,459,6132011Assets 2012: $10,669,466Liabilities 2012: $1,760,801Net Assets 2012: $8,908,6652012Assets 2013: $13,381,805Liabilities 2013: $1,661,869Net Assets 2013: $11,719,9362013Assets 2014: $14,522,370Liabilities 2014: $1,697,729Net Assets 2014: $12,824,6412014Assets 2015: $20,006,272Liabilities 2015: $2,205,037Net Assets 2015: $17,801,2352015Assets 2016: $21,134,105Liabilities 2016: $2,396,917Net Assets 2016: $18,737,1882016Assets 2017: $23,756,558Liabilities 2017: $3,247,611Net Assets 2017: $20,508,9472017Assets 2018: $25,815,776Liabilities 2018: $3,832,128Net Assets 2018: $21,983,6482018Assets 2019: $25,078,425Liabilities 2019: $3,749,674Net Assets 2019: $21,328,7512019Assets 2020: $24,204,710Liabilities 2020: $4,104,429Net Assets 2020: $20,100,2812020Assets 2021: $29,550,068Liabilities 2021: $4,246,115Net Assets 2021: $25,303,9532021Assets 2022: $30,850,226Liabilities 2022: $2,795,158Net Assets 2022: $28,055,0682022Assets 2023: $27,327,733Liabilities 2023: $2,722,173Net Assets 2023: $24,605,5602023Assets 2024: $29,276,824Liabilities 2024: $2,527,568Net Assets 2024: $26,749,2562024Assets 2024: $28,688,039Liabilities 2024: $2,417,143Net Assets 2024: $26,270,8962024

Highlighted filing

2024

Assets$28,688,039
Liabilities$2,417,143
Net Assets$26,270,896

Operations Trend

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

$15M$10M$5.0M$0-$5.0MExpenses 2011: $5,185,2862011Expenses 2012: $5,773,5002012Expenses 2013: $7,236,0912013Revenue 2014: $8,064,228Expenses 2014: $7,488,844Net Income 2014: $575,3842014Revenue 2015: $12,253,832Expenses 2015: $7,825,183Net Income 2015: $4,428,6492015Revenue 2016: $10,238,713Expenses 2016: $8,573,417Net Income 2016: $1,665,2962016Revenue 2017: $9,189,944Expenses 2017: $8,562,354Net Income 2017: $627,5902017Revenue 2018: $10,592,998Expenses 2018: $9,932,914Net Income 2018: $660,0842018Revenue 2019: $9,100,465Expenses 2019: $9,784,852Net Income 2019: -$684,3872019Revenue 2020: $11,146,154Expenses 2020: $10,329,934Net Income 2020: $816,2202020Revenue 2021: $4,369,466Expenses 2021: $4,265,794Net Income 2021: $103,6722021Revenue 2022: $8,824,225Expenses 2022: $6,244,487Net Income 2022: $2,579,7382022Revenue 2023: $5,805,307Expenses 2023: $7,017,581Net Income 2023: -$1,212,2742023Revenue 2024: $8,438,427Expenses 2024: $8,238,759Net Income 2024: $199,6682024Revenue 2024: $7,504,454Expenses 2024: $8,240,241Net Income 2024: -$735,7872024

Highlighted filing

2024

Revenue$7,504,454
Expenses$8,240,241
Net Income-$735,787
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Feb 15, 2026
Return Version
2024v5.0
Gross Receipts
$10,174,750
Mission and Program Overview

Mission

To change lives through challenge and discovery.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$21,934,826$21,707,982▼ $226,844
Land, Buildings, and Equipment, Net$2,758,671$2,803,077▲ $44,406
Savings and Temporary Cash Investments$2,988,660$2,092,868▼ $895,792
Pledges and Grants Receivable$849,399$1,060,000▲ $210,601
Cash and Non-Interest-Bearing Accounts$337,107$525,389▲ $188,282
Accounts Receivable$59,348$271,268▲ $211,920
Investments Program Related$169,696$121,755▼ $47,941
Prepaid Expenses and Deferred Charges$45,804$79,547▲ $33,743
Inventories for Sale or Use$95,997$2,830▼ $93,167
Total Assets$29,276,824$28,688,039▼ $588,785
Other Assets Total$37,316$23,323▼ $13,993
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,275,282$1,231,672▼ $43,610
Deferred Revenue$691,534$664,704▼ $26,830
Accounts Payable and Accrued Expenses$502,080$492,807▼ $9,273
Other Liabilities$58,672$27,960▼ $30,712
Total Liabilities$2,527,568$2,417,143▼ $110,425
Net Assets / Fund Balance
Net Assets With Donor Restrictions$24,907,794$24,697,071▼ $210,723
Net Assets Without Donor Restrictions$1,841,462$1,573,825▼ $267,637
Total Net Assets Fund Balance$26,749,256$26,270,896▼ $478,360
Total Liabilities and Net Assets / Fund Balance$29,276,824$28,688,039▼ $588,785

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,370,228$3,931,415$5,301,643
Leasehold Improvements$927,620$865,746$1,793,366
Equipment$225,770$756,106$981,876
Land$269,806-$269,806
Other Land Buildings$9,653-$9,653

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$21,099,966$99,143▲ $1,204,488$926,490$21,477,107
2023$18,544,080$516,447▲ $3,028,512$989,073$21,099,966
2022$20,996,893$33,432▼ $1,453,412$1,032,833$18,544,080
2021$21,387,849$60,228▲ $592,205$1,043,389$20,996,893
2020$16,481,193$140,255▲ $5,675,230$908,828$21,387,849
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Laura Bea ArmstrongExecutive DiFT$185,582$4,568$190,150
Laura Bea ArmstrongExecutive Director-$165,582$24,568$190,150
Karen SareHr DirectorFT$108,787$5,395$114,182
Bill MurrayCOOPT$102,222$3,052$105,274
Jan LetendreCFOPT$104,865-$104,865

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Outward Bound Services GroupSales/marketing1133 ROUTE 55, STE 10, Lagrangeville, NY 12540$273,706
Revenue and Support

Revenue Composition

Contributions and Grants
$2,280,634
Program Service Revenue
$3,880,561
Investment Income
$1,094,383
Other Revenue
$248,876
All Other Contributions
$2,280,634
Change in Net Assets
$-735,787

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded6$253,928Fair Market Value
Other Non Cash Contri Table2$47,099Fair Market Value
Total Noncash Contributions8$301,027-

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,962,312
Revenue Not Reported on Financial Statements
$1,542,142
Revenue Not Reported on Form 990
$305,368
Other Revenue Adjustments
$1,542,142
Total Revenue per Audited Statements
$6,267,680
Total Revenue per Form 990
$7,504,454
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,004,360
Other Expenses$2,741,680
Grants and Similar Amounts Paid$1,494,201
Total Fundraising Expense$359,143
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,486,030$343,793$223,864$3,053,687
Grants to Domestic Individuals$1,494,201--$1,494,201
Current Officers, Directors, Trustees, and Key Employees$108,514$247,880$40,493$396,887
Insurance$272,869$68,218-$341,087
Fees for Services Other$206,171$131,710$1,238$339,119
Depreciation Depletion$237,343$79,114-$316,457
Other Employee Benefits$228,255$49,610$22,815$300,680
Payroll Taxes$189,788$43,970$19,348$253,106
Travel$169,246$5,411$2,941$177,598
Occupancy$107,550$48,708$1,018$157,276
All Other Expenses$129,404$23,469$123$152,996
Information Technology$45,033$42,105$8,700$95,838
Other Expenses$68,570$14,671$5,733$68,570
Fees for Services Accounting$48,259$16,086-$64,345
Fees for Service Investment Mgmnt Fees-$62,045-$62,045
Advertising$25,971$7,649$24,149$57,769
Interest$28,640$28,639-$57,279
Office Expenses$7,284$21,623$8,721$37,628
Total Functional Expenses$6,430,805$1,450,293$359,143$8,240,241

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,240,241
Expenses per Audited Statements$6,746,040
Total Expenses per Audited Statements$6,746,040
Expenses Not Reported on Financial Statements$1,494,201
Other Expense Adjustments$1,494,201
International Activity

International Summary

Offices
1
Employees
6
Spending
$106,641

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
South America - ArgentinaProgram ServicesOutdoor Experiential16$106,641
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liabilities$23,323
Finance Lease Liabilities$4,637
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The cfo, executive director and the audit committee review the return prior to providing a copy to the board and filing the irs.

Form 990, Page 6, Part VI, Line 12C

The organization regularly and consistently moniter and enforces compliance with the conflict of interest policy by requiring board members and management employees to sign and turn in a copy of the conflict of interest policy annually. Also, any payments or reimbursements made to board members and managers are monitored to be sure they are legitimate, unbiased, and free from potential conflicts of interest.

Form 990, Page 6, Part VI, Line 15A

Executive director compenstion is determined by the board and key employees and top management compensation is determined by the executive director.

Form 990, Page 6, Part VI, Line 19

Nc outward bound school makes its governing documents, conflict of interest policy, and financial statements available to the public, upon request.

Filing and Contact Details

Filer

Filer Name
North Carolina Outward Bound School
EIN
56-0857708
Phone
8282993366
Address
2582 RICEVILLE RD, ASHEVILLE, NC 28805

Signing Officer

Name
Laura Bea Armstrong
Title
Executive Director
Phone
8285088800
Signed
2026-02-15

Organization Details

Principal Officer
Laura Bea Armstrong
Formed
1966
Legal Domicile
Nc
Voting Board Members
27
Independent Board Members
27
Employees
162
Volunteers
30

Preparer

Firm
Carter P C
Address
301 COLLEGE ST STE 320, ASHEVILLE, NC 28801-2449
Preparer
Alan Toler
Phone
8282599900
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Obsg equity investment -47,941

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The school's endowments consist of approximately 45 individual funds established in perpetuity mostly for the benefit of scholarships, staff development, and unrestricted operating funds. The percentage reported for permanent endowments includes amounts that must be maintained in perpetuity as well as accumulated earnings on such amounts that have not yet been appropriated for expenditure.

Schedule D, Page 3, Part X

Uncertain tax positions the school is exempt from federal income taxes under section 501(c)(3) of the internal revenue code, except on net income derived from unrelated business activities. The school believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. Open tax years the school's return of organization exempt from income tax (form 990) for the years ended march 31, 2024, 2023, and 2022, are subject to examination by the irs, generally for three years after they were filed.

Schedule D, Page 4, Part XI, Line 4B

Addback of scholarship 1,494,201 obsg equity investment 47,941

Schedule D, Page 4, Part XII, Line 4B

Addback of scholarship 1,494,201

Raw XML AppendixShowing 400 of 745 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$29.3$2.53$26.7$8.44$8.24$0.20
2024Detailed filing. Detailed filing data is available for this year.$28.7$2.42$26.3$7.50$8.24$0.74
2023Detailed filing. Detailed filing data is available for this year.$27.3$2.72$24.6$5.81$7.02$1.21
2022Detailed filing. Detailed filing data is available for this year.$30.9$2.80$28.1$8.82$6.24$2.58
2021Detailed filing. Detailed filing data is available for this year.$29.6$4.25$25.3$4.37$4.27$0.10
2020Detailed filing. Detailed filing data is available for this year.$24.2$4.10$20.1$11.1$10.3$0.82
2019Detailed filing. Detailed filing data is available for this year.$25.1$3.75$21.3$9.10$9.78$0.68
2018Detailed filing. Detailed filing data is available for this year.$25.8$3.83$22.0$10.6$9.93$0.66
2017Detailed filing. Detailed filing data is available for this year.$23.8$3.25$20.5$9.19$8.56$0.63
2016Detailed filing. Detailed filing data is available for this year.$21.1$2.40$18.7$10.2$8.57$1.67
2015Detailed filing. Detailed filing data is available for this year.$20.0$2.21$17.8$12.3$7.83$4.43
2014Detailed filing. Detailed filing data is available for this year.$14.5$1.70$12.8$8.06$7.49$0.58
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.4$1.66$11.7$7.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.7$1.76$8.91$5.77
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$1.92$8.46$5.19