Civic Intelligence

North Carolina Business Committee

EIN 56-1513432 • 501(c)3 • Raleigh, NC

Profile

The organization consists of businesses throughout north carolina who share a common desire to improve the public education system.

20301 Mail Service CenterRaleigh, NC 27699

www.ncbce.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

55th percentile

0.16x

Higher debt load relative to assets than 55% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

39th percentile

0.09x

Higher debt load relative to revenue than 39% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

67th percentile

14%

Higher net margin than 67% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

37th percentile

$97,823

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

89th percentile

39%

Faster asset growth than 89% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

77th percentile

31%

Faster revenue growth than 77% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$3,387,577

Up $948,530 (+39%) from 2023

Liabilities

Up

$531,861

Up $149,549 (+39%) from 2023

Net Assets

Up

$2,855,716

Up $798,981 (+39%) from 2023

Revenue

Up

$5,663,302

Up $1,336,502 (+31%) from 2023

Expenses

Up

$4,864,321

Up $2,099,272 (+76%) from 2023

Net Income

Down

$798,981

Down $762,770 (-49%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $407,036Liabilities 2011: $0Net Assets 2011: $407,0362011Assets 2012: $439,431Liabilities 2012: $0Net Assets 2012: $439,4312012Assets 2013: $467,504Liabilities 2013: $0Net Assets 2013: $467,5042013Assets 2014: $550,405Liabilities 2014: $0Net Assets 2014: $550,4052014Assets 2015: $552,365Liabilities 2015: $0Net Assets 2015: $552,3652015Assets 2016: $602,801Liabilities 2016: $0Net Assets 2016: $602,8012016Assets 2017: $592,155Liabilities 2017: $0Net Assets 2017: $592,1552017Assets 2018: $713,654Liabilities 2018: $0Net Assets 2018: $713,6542018Assets 2019: $575,801Liabilities 2019: $0Net Assets 2019: $575,8012019Assets 2020: $1,878,699Liabilities 2020: $0Net Assets 2020: $1,878,6992020Assets 2021: $754,414Liabilities 2021: $93,121Net Assets 2021: $661,2932021Assets 2022: $533,786Liabilities 2022: $38,802Net Assets 2022: $494,9842022Assets 2023: $2,439,047Liabilities 2023: $382,312Net Assets 2023: $2,056,7352023Assets 2024: $3,387,577Liabilities 2024: $531,861Net Assets 2024: $2,855,7162024

Highlighted filing

2024

Assets$3,387,577
Liabilities$531,861
Net Assets$2,855,716

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $239,2122011Revenue 2012: $250,970Expenses 2012: $218,575Net Income 2012: $32,3952012Revenue 2013: $224,298Expenses 2013: $196,225Net Income 2013: $28,0732013Revenue 2014: $294,880Expenses 2014: $211,979Net Income 2014: $82,9012014Revenue 2015: $258,264Expenses 2015: $256,304Net Income 2015: $1,9602015Revenue 2016: $350,491Expenses 2016: $301,077Net Income 2016: $49,4142016Revenue 2017: $287,102Expenses 2017: $297,748Net Income 2017: -$10,6462017Revenue 2018: $491,240Expenses 2018: $369,741Net Income 2018: $121,4992018Revenue 2019: $322,640Expenses 2019: $460,493Net Income 2019: -$137,8532019Revenue 2020: $2,272,304Expenses 2020: $969,406Net Income 2020: $1,302,8982020Revenue 2021: $1,472,737Expenses 2021: $2,375,417Net Income 2021: -$902,6802021Revenue 2022: $899,416Expenses 2022: $1,065,725Net Income 2022: -$166,3092022Revenue 2023: $4,326,800Expenses 2023: $2,765,049Net Income 2023: $1,561,7512023Revenue 2024: $5,663,302Expenses 2024: $4,864,321Net Income 2024: $798,9812024

Highlighted filing

2024

Revenue$5,663,302
Expenses$4,864,321
Net Income$798,981

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.39$0.53$2.86$5.66$4.86$0.80
2023Detailed filing. Detailed filing data is available for this year.$2.44$0.38$2.06$4.33$2.77$1.56
2022Detailed filing. Detailed filing data is available for this year.$0.53$0.04$0.49$0.90$1.07$0.17
2021Detailed filing. Detailed filing data is available for this year.$0.75$0.09$0.66$1.47$2.38$0.90
2020Detailed filing. Detailed filing data is available for this year.$1.88$0.00$1.88$2.27$0.97$1.30
2019Detailed filing. Detailed filing data is available for this year.$0.58$0.00$0.58$0.32$0.46$0.14
2018Detailed filing. Detailed filing data is available for this year.$0.71$0.00$0.71$0.49$0.37$0.12
2017Detailed filing. Detailed filing data is available for this year.$0.59$0.00$0.59$0.29$0.30$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.60$0.00$0.60$0.35$0.30$0.05
2015Summary only. Only limited summary data is available for this year.$0.55$0.00$0.55$0.26$0.26$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.55$0.00$0.55$0.29$0.21$0.08
2013Detailed filing. Detailed filing data is available for this year.$0.47$0.00$0.47$0.22$0.20$0.03
2012Summary only. Only limited summary data is available for this year.$0.44$0.00$0.44$0.25$0.22$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.00$0.41$0.24
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 10, 2025
Return Version
2024v5.0
Gross Receipts
$5,663,302
Mission and Program Overview

Mission

The organization consists of businesses throughout north carolina who share a common desire to improve the public education system.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,946,500$2,156,112▲ $209,612
Pledges and Grants Receivable$256,614$938,355▲ $681,741
Cash and Non-Interest-Bearing Accounts$46,681$127,216▲ $80,535
Intangible Assets$96,000$67,200▼ $28,800
Prepaid Expenses and Deferred Charges$26,042$50,551▲ $24,509
Accounts Receivable$67,210$48,143▼ $19,067
Total Assets$2,439,047$3,387,577▲ $948,530
Liabilities
Accounts Payable and Accrued Expenses$157,029$531,861▲ $374,832
Other Liabilities$225,283--
Total Liabilities$382,312$531,861▲ $149,549
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,956,317$2,545,665▲ $589,348
Net Assets Without Donor Restrictions$100,418$310,051▲ $209,633
Total Net Assets Fund Balance$2,056,735$2,855,716▲ $798,981
Total Liabilities and Net Assets / Fund Balance$2,439,047$3,387,577▲ $948,530
Compensation and Service Providers
Revenue and Support

Revenue Composition

Contributions and Grants
$5,623,587
Program Service Revenue
$0
Investment Income
$39,715
Other Revenue
$0
All Other Contributions
$1,402,240
Change in Net Assets
$798,981

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,663,302
Revenue Not Reported on Form 990
$6,794
Total Revenue per Audited Statements
$5,670,096
Total Revenue per Form 990
$5,663,302
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,442,164
Other Expenses$1,422,157
Total Fundraising Expense$15,128
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$3,335,069--$3,335,069
Fees for Services Other$828,805$19,451$1,024$849,280
Fees for Services Management$157,064$158,105$8,321$323,490
Grants to Domestic Orgs$107,095--$107,095
Fees for Services Accounting$35,910$56,314$2,964$95,188
Conferences and Meetings$20,154$15,241$802$36,197
Depreciation Depletion-$27,360$1,440$28,800
Travel$20,669$3,948$208$24,825
Office Expenses$16,839--$16,839
Other Expenses$40,137$4,720$248$4,968
Insurance-$1,599$84$1,683
Total Functional Expenses$4,561,742$287,451$15,128$4,864,321

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,871,115
Expenses per Audited Statements$4,864,321
Total Expenses per Form 990$4,864,321
Expenses Not Reported on Form 990$6,794
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
All Star Learning CenterNew London, NC-Program Services$107,095
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
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

Ncbce's form 990 was prepared by a cpa firm that audited the organization's financial statements. These statements were used to prepare the information included in the form 990. The 990 was sent to the executive committee who reviewed and approved it prior to signing and e-filing.

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

Each board member is required to sign a copy of the conflict of interest policy annually and to report any potential conflicts of interest as soon as they arise. Conflicts will be acted upon by the executive committee as they arise. The committee is responsible for reviewing the conflict and deciding on the best way to address the situation.

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

The executive director (ed) is a state employee subject to the compensation policies of the state of north carolina. The board and governor's office review the ed's responsibilities and determine the appropriate level of compensation based on state guidelines.

Form 990, Page 6, Part VI, Line 19

Ncbce's governing documents and financial statements can be mailed or sent electronically to anyone upon request.

Form 990, Part VII

The executive director (ed) of ncbce is an employee of the state of north carolina. The governor has the authority to hire, fire, control and direct the executive director pursuant to a signed agreement between the governor's office and the organization. The committee reimburses the governor for 89% of salary (as determined by the board of directors), payroll taxes and benefits. The reimbursements are reported on the cash basis and included on line 11a of part ix as non-employee management fees. The total amount of salary and benefits of the ed as reported on form w-2 issued by the state of north carolina is reported in part vii.

Filing and Contact Details

Filer

Filer Name
North Carolina Business Committee
EIN
56-1513432
Phone
9198142020
Address
20301 MAIL SERVICE CENTER, RALEIGH, NC 27699

Signing Officer

Name
Caroline Sullivan
Title
Exec Director & Secretary
Phone
9198142021
Signed
2025-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Caroline Sullivan
Formed
1986
Legal Domicile
Nc
Voting Board Members
28
Independent Board Members
27
Employees
0
Volunteers
27

Preparer

Firm
Langdon & Company Llp
Address
223 US HIGHWAY 70 EAST SUITE 100, GARNER, NC 27529-4051
Preparer
Susan Dean
Phone
9196621001
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Work-based learning programs: ready, set, app is an annual app development competition that began in 2019 and was built in partnership with lenovo. This statewide initiative challenges nc high school stu-dents to create a mobile app to address a problem in their school or community. Ready, set, app focuses on three primary pillars: mobile app development, professional and per-sonal development, and growing interpersonal and soft skills. Students get the chance to develop skills in coding, graphic design, video editing, presenting, collaborating, and much more. Seed (southeastern economic and education development) summer pre- apprenticeship program for high school students and recent graduates with pathways in industrial systems & agriculture. Everyone charging forward program is a 30-million, 10-year siemens foundation initia-tive creating accessible career pathways in ev manufacturing and charging. It was launched to meet the growing demand for skilled workers in the rapidly expanding ev sector students@work is a career awareness program implemented by the gubernatorial proc-lamation that introduces nc middle school students to businesses and careers. Students are hosted (in person or virtually) by employers to learn about career pathways in real-world business environments. Career awareness is a critical first step in adding relevancy to aca-demics and positioning students to navigate career pathways successfully. Many students are unaware of the many careers available within their state, and students@work helps bridge this gap. Linking north carolina with innovative talent (linc-it) is a collaborative model that supports autistic early career professionals in finding internships and jobs and addresses employers' need for diverse, educated talent. By leveraging funding from vocational rehabilitation, job coaching is provided for interns and their managers to support success in the workplace. Governor's educator discovery award provides professional development opportunities to exemplary and innovative educators by providing monetary support to cover the costs of participating in professional development. Each cycle, educators across the state submit applications, and after careful review, a few select teachers are awarded the 1,000 stipends. Navigator is an online site for nc educators to source work-based learning opportunities, including career profiles, guest speakers, internships, worksite tours, and apprenticeships. The platform allows employers to track school engagement and educators to track work-based learning experiences for their students. The service is offered at no cost to employers or schools.

Form 990, Page 2, Part III, Line 4B

Federally funded work-based learning programs: building bright futures (bbf) is a pilot initiative designed to support and scale pre-apprenticeships and apprenticeships in early childhood education throughout north carolina. Bbf offers technical assistance, financial support, and resources to pre-apprentices and apprentices, child care centers, school districts, community colleges, and other partners in a registered apprenticeship program through apprenticeshipnc. This pilot program aims to "fill in the gaps" where other financial resources can't, offer value-added professional development and community of practice opportunities, create a hub for early childhood apprenticeship resources, and gather best practices and lessons learned from participants to support a statewide playbook. Nc career launch is a four-year grant of four million from the us department of labor to develop and scale high school pre-apprenticeships. Sectors include advanced manufacturing, construction, early childhood education, energy, healthcare, hospitality, it, transportation, and utilities. The program will support completion stipends and wraparound services for students and program development and mentor stipends for employers. Nc techworks is a statewide initiative preparing high school students for careers in it and related fields through its tech team and digital ambassadors programs, offering paid work experience while supporting north carolina's technology and workforce needs. Steps4growth began in september of 2022, ncbce received grant funding through the usdoc via nc a&t state university as part of a comprehensive clean energy workforce development project. S4g will work with employers to train students and adults to fill well-paying jobs in energy efficiency, renewable energy, clean vehicles, and grid & resiliency.

Form 990, Part IX, Line 11G

Interns 21,659 645 34 communications 93,081 5,219 275 consulting fees 714,065 13,587 715 total 828,805 19,451 1,024

Financial Statement Notes

Schedule D, Page 3, Part X

Ncbce evaluates any uncertain tax positions. Accordingly, ncbce's policy is to record a liability for any tax position taken that is beneficial to ncbce, including any related interest and penalties, when it is more likely than not the position of management with respect to a transaction or class of transactions will be overturned by a taxing authority upon examination. Management believes there are no uncertain tax positions as of december 31, 2024 and 2023.

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IRS990/Desc0WORK-BASED LEARNING PROGRAMS: READY, SET, APP IS AN ANNUAL APP DEVELOPMENT COMPETITION THAT BEGAN IN 2019 AND WAS BUILT IN PARTNERSHIP WITH LENOVO. THIS STATEWIDE INITIATIVE CHALLENGES NC HIGH SCHOOL STU-DENTS TO CREATE A MOBILE APP TO ADDRESS A PROBLEM IN THEIR SCHOOL OR COMMUNITY. READY, SET, APP FOCUSES ON THREE PRIMARY PILLARS: MOBILE APP DEVELOPMENT, PROFESSIONAL AND PER-SONAL DEVELOPMENT, AND GROWING INTERPERSONAL AND SOFT SKILLS. STUDENTS GET THE CHANCE TO DEVELOP SKILLS IN CODING, GRAPHIC DESIGN, VIDEO EDITING, PRESENTING, COLLABORATING, AND MUCH MORE. SEED (SOUTHEASTERN ECONOMIC AND EDUCATION DEVELOPMENT) SUMMER PRE- APPRENTICESHIP PROGRAM FOR HIGH SCHOOL STUDENTS AND RECENT GRADUATES WITH PATHWAYS IN INDUSTRIAL SYSTEMS & AGRICULTURE. EVERYONE CHARGING FORWARD PROGRAM IS A 30-MILLION, 10-YEAR SIEMENS FOUNDATION INITIA-TIVE CREATING ACCESSIBLE CAREER PATHWAYS IN EV MANUFACTURING AND CHARGING. IT WAS LAUNCHED TO MEET THE GROWING DEMAND FOR SKILLED WORKERS IN THE RAPIDLY EXPANDING EV SECTOR STUDENTS@WORK IS A CAREER AWARENESS PROGRAM IMPLEMENTED BY THE GUBERNATORIAL PROC-LAMATION THAT INTRODUCES NC MIDDLE SCHOOL STUDENTS TO BUSINESSES AND CAREERS. STUDENTS ARE HOSTED (IN PERSON OR VIRTUALLY) BY EMPLOYERS TO LEARN ABOUT CAREER PATHWAYS IN REAL-WORLD BUSINESS ENVIRONMENTS. CAREER AWARENESS IS A CRITICAL FIRST STEP IN ADDING RELEVANCY TO ACA-DEMICS AND POSITIONING STUDENTS TO NAVIGATE CAREER PATHWAYS SUCCESSFULLY. MANY STUDENTS ARE UNAWARE OF THE MANY CAREERS AVAILABLE WITHIN THEIR STATE, AND STUDENTS@WORK HELPS BRIDGE THIS GAP. LINKING NORTH CAROLINA WITH INNOVATIVE TALENT (LINC-IT) IS A COLLABORATIVE MODEL THAT SUPPORTS AUTISTIC EARLY CAREER PROFESSIONALS IN FINDING INTERNSHIPS AND JOBS AND ADDRESSES EMPLOYERS' NEED FOR DIVERSE, EDUCATED TALENT. BY LEVERAGING FUNDING FROM VOCATIONAL REHABILITATION, JOB COACHING IS PROVIDED FOR INTERNS AND THEIR MANAGERS TO SUPPORT SUCCESS IN THE WORKPLACE. GOVERNOR'S EDUCATOR DISCOVERY AWARD PROVIDES PROFESSIONAL DEVELOPMENT OPPORTUNITIES TO EXEMPLARY AND INNOVATIVE EDUCATORS BY PROVIDING MONETARY SUPPORT TO COVER THE COSTS OF PARTICIPATING IN PROFESSIONAL DEVELOPMENT. EACH CYCLE, EDUCATORS ACROSS THE STATE SUBMIT APPLICATIONS, AND AFTER CAREFUL REVIEW, A FEW SELECT TEACHERS ARE AWARDED THE 1,000 STIPENDS. NAVIGATOR IS AN ONLINE SITE FOR NC EDUCATORS TO SOURCE WORK-BASED LEARNING OPPORTUNITIES, INCLUDING CAREER PROFILES, GUEST SPEAKERS, INTERNSHIPS, WORKSITE TOURS, AND APPRENTICESHIPS. THE PLATFORM ALLOWS EMPLOYERS TO TRACK SCHOOL ENGAGEMENT AND EDUCATORS TO TRACK WORK-BASED LEARNING EXPERIENCES FOR THEIR STUDENTS. THE SERVICE IS OFFERED AT NO COST TO EMPLOYERS OR SCHOOLS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0FEDERALLY FUNDED WORK-BASED LEARNING PROGRAMS: BUILDING BRIGHT FUTURES (BBF) IS A PILOT INITIATIVE DESIGNED TO SUPPORT AND SCALE PRE-APPRENTICESHIPS AND APPRENTICESHIPS IN EARLY CHILDHOOD EDUCATION THROUGHOUT NORTH CAROLINA. BBF OFFERS TECHNICAL ASSISTANCE, FINANCIAL SUPPORT, AND RESOURCES TO PRE-APPRENTICES AND APPRENTICES, CHILD CARE CENTERS, SCHOOL DISTRICTS, COMMUNITY COLLEGES, AND OTHER PARTNERS IN A REGISTERED APPRENTICESHIP PROGRAM THROUGH APPRENTICESHIPNC. THIS PILOT PROGRAM AIMS TO "FILL IN THE GAPS" WHERE OTHER FINANCIAL RESOURCES CAN'T, OFFER VALUE-ADDED PROFESSIONAL DEVELOPMENT AND COMMUNITY OF PRACTICE OPPORTUNITIES, CREATE A HUB FOR EARLY CHILDHOOD APPRENTICESHIP RESOURCES, AND GATHER BEST PRACTICES AND LESSONS LEARNED FROM PARTICIPANTS TO SUPPORT A STATEWIDE PLAYBOOK. NC CAREER LAUNCH IS A FOUR-YEAR GRANT OF FOUR MILLION FROM THE US DEPARTMENT OF LABOR TO DEVELOP AND SCALE HIGH SCHOOL PRE-APPRENTICESHIPS. SECTORS INCLUDE ADVANCED MANUFACTURING, CONSTRUCTION, EARLY CHILDHOOD EDUCATION, ENERGY, HEALTHCARE, HOSPITALITY, IT, TRANSPORTATION, AND UTILITIES. THE PROGRAM WILL SUPPORT COMPLETION STIPENDS AND WRAPAROUND SERVICES FOR STUDENTS AND PROGRAM DEVELOPMENT AND MENTOR STIPENDS FOR EMPLOYERS. NC TECHWORKS IS A STATEWIDE INITIATIVE PREPARING HIGH SCHOOL STUDENTS FOR CAREERS IN IT AND RELATED FIELDS THROUGH ITS TECH TEAM AND DIGITAL AMBASSADORS PROGRAMS, OFFERING PAID WORK EXPERIENCE WHILE SUPPORTING NORTH CAROLINA'S TECHNOLOGY AND WORKFORCE NEEDS. STEPS4GROWTH BEGAN IN SEPTEMBER OF 2022, NCBCE RECEIVED GRANT FUNDING THROUGH THE USDOC VIA NC A&T STATE UNIVERSITY AS PART OF A COMPREHENSIVE CLEAN ENERGY WORKFORCE DEVELOPMENT PROJECT. S4G WILL WORK WITH EMPLOYERS TO TRAIN STUDENTS AND ADULTS TO FILL WELL-PAYING JOBS IN ENERGY EFFICIENCY, RENEWABLE ENERGY, CLEAN VEHICLES, AND GRID & RESILIENCY.
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