Civic Intelligence

Triangle Educational Advancement Foundation

990 • Fiscal year 2015 • EIN 56-1803864

Jan 01, 2015 to Dec 31, 2015 • Filed on May 11, 2016

Organization Profileteafnc.org
C/o John Boone 900 Walcott WayCary, NC 27519

(919) 961-3765

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$246,347

Up $26,223 (+12%) from 2014

Net Assets

Up

$191,562

Up $32,710 (+21%) from 2014

Liabilities

Down

$54,785

Down $6,487 (-11%) from 2014

Revenue And Expenses

Revenue

Down

$180,163

Down $13,950 (-7.2%) from 2014

Expenses

Down

$147,453

Down $1,541 (-1.0%) from 2014

Net Income

Down

$32,710

Down $12,409 (-28%) from 2014

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2010: $275,336Liabilities 2010: $43,601Net Assets 2010: $231,7352010Assets 2011: $207,681Liabilities 2011: $36,891Net Assets 2011: $170,7902011Assets 2012: $235,231Liabilities 2012: $59,657Net Assets 2012: $175,5742012Assets 2013: $173,355Liabilities 2013: $59,622Net Assets 2013: $113,7332013Assets 2014: $220,124Liabilities 2014: $61,272Net Assets 2014: $158,8522014Assets 2015: $246,347Liabilities 2015: $54,785Net Assets 2015: $191,5622015Assets 2016: $200,708Liabilities 2016: $67,170Net Assets 2016: $133,5382016Assets 2017: $270,797Liabilities 2017: $74,124Net Assets 2017: $196,6732017Assets 2018: $227,747Liabilities 2018: $96,127Net Assets 2018: $131,6202018Assets 2019: $231,593Liabilities 2019: $113,020Net Assets 2019: $118,5732019Assets 2020: $131,164Liabilities 2020: $10,907Net Assets 2020: $120,2572020Assets 2021: $207,962Liabilities 2021: $161,919Net Assets 2021: $46,0432021Assets 2022: $145,819Liabilities 2022: $130,036Net Assets 2022: $15,7832022Assets 2023: $213,128Liabilities 2023: $170,887Net Assets 2023: $42,2412023Assets 2024: $131,220Liabilities 2024: $52,009Net Assets 2024: $79,2112024

Highlighted filing

2015

Assets$246,347
Liabilities$54,785
Net Assets$191,562
Open 2015 Filing

Operations Trend

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

$400K$200K$0-$200KRevenue 2010: $188,903Expenses 2010: $171,653Net Income 2010: $17,2502010Revenue 2011: $96,769Expenses 2011: $157,714Net Income 2011: -$60,9452011Revenue 2012: $152,979Expenses 2012: $148,195Net Income 2012: $4,7842012Revenue 2013: $78,398Expenses 2013: $140,239Net Income 2013: -$61,8412013Revenue 2014: $194,113Expenses 2014: $148,994Net Income 2014: $45,1192014Revenue 2015: $180,163Expenses 2015: $147,453Net Income 2015: $32,7102015Revenue 2016: $98,410Expenses 2016: $156,434Net Income 2016: -$58,0242016Revenue 2017: $231,106Expenses 2017: $167,971Net Income 2017: $63,1352017Revenue 2018: $138,696Expenses 2018: $203,749Net Income 2018: -$65,0532018Revenue 2019: $209,585Expenses 2019: $222,632Net Income 2019: -$13,0472019Revenue 2020: $69,276Expenses 2020: $67,592Net Income 2020: $1,6842020Revenue 2021: $131,727Expenses 2021: $205,941Net Income 2021: -$74,2142021Revenue 2022: $215,132Expenses 2022: $245,392Net Income 2022: -$30,2602022Revenue 2023: $257,760Expenses 2023: $231,302Net Income 2023: $26,4582023Revenue 2024: $384,180Expenses 2024: $347,210Net Income 2024: $36,9702024

Highlighted filing

2015

Revenue$180,163
Expenses$147,453
Net Income$32,710
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 11, 2016
Return Version
2015v2.1
Gross Receipts
$180,163
Mission and Program Overview

Mission

The triangle educational advancement foundation is a 501(c)3 non-profit organization that was established in 1994 to oversee the john wall holiday invitational basketball tournament and to provide scholarships to triangle area high school students. The john wall holiday invitational tournament has become a holiday tradition for the triangle community and has provided lifelong athletic experiences for players, coaches and fans. The proceeds of the tournament and the generous annual gift from the john wall family foundation have made it possible for the triangle educational advancement foundation to have awarded more than $1 million in scholarships. In 2009 the foundation established new criteria for the scholarships in order to make a bigger impact on the winners. Students from 43 public schools in the triangle are now eligible to receive one of the ten scholarships in the amount of $5000 that goes towards their college education during their freshman year of college.

Provide Scholarship opportunities to local high school students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$218,583$243,311▲ $24,728
Rtn Earn Endowment Incm Other Fnds$158,852$191,562▲ $32,710
Accounts Receivable$1,541$3,036▲ $1,495
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$220,124$246,347▲ $26,223
Liabilities
Accounts Payable and Accrued Expenses$61,272$54,785▼ $6,487
Total Liabilities$61,272$54,785▼ $6,487
Net Assets / Fund Balance
Total Net Assets Fund Balance$158,852$191,562▲ $32,710
Total Liabilities and Net Assets / Fund Balance$220,124$246,347▲ $26,223
Compensation and Service Providers

Employees

NameTitleBaseTotal
Bill SewellExecutive Director$19,000$19,000

Board Members and Trustees

NameTitle
Ian WG SauerPresident
Bobby GuthrieBoard Member
Clayton SomersBoard Member
Doyle ParrishBoard Member
Jason SoperBoard Member
Philip IsleyBoard Member
Rudy WatsonBoard Member
Scott ShermanBoard Member
Shannon ScottBoard Member
Tammy JonesBoard Member
Webb WellmanBoard Member
John BooneBoard Secretary/Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$95,923
Program Service Revenue
$84,188
Investment Income
$52
Other Revenue
$0
All Other Contributions
$95,923
Change in Net Assets
$32,710
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$68,453
Grants and Similar Amounts Paid$60,000
Salaries, Compensation, and Employee Benefits$19,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$60,000--$60,000
Current Officers, Directors, Trustees, and Key Employees$19,000--$19,000
Fees for Services Accounting-$3,188-$3,188
Insurance-$2,325-$2,325
Other Expenses$62,500$50-$50
Total Functional Expenses$141,500$5,953$0$147,453
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
Backup withholding compliance
Yes
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

“Board members Doyle Parrish and Ian Sauer both work for Summit Hospitality.”

Form 990, Part VI, Section B, line 11

“A copy of the Form 990 was provided to the members of the board for review before submission.”

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

“The Board reviewed the Executive Director's compensation at a board meeting. Members of the Board are familiar with other organizations similar to ours and noted that the compensation for the ED is in line with the norm.”

Form 990, Part VI, Section C, line 19

“Documents are available by request. Contact information is available on the foundation's website.”

Filing and Contact Details

Filer

Filer Name
Triangle Educational Advancement
EIN
56-1803864
Phone
9199613765
Address
C/o John Boone 900 Walcott Way, Cary, NC 27519

Signing Officer

Name
John Boone
Title
Board Member
Phone
9199613765
Signed
2016-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Boone
Formed
1992
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
12

Preparer

Firm
Hughes Pittman & Gupton LLP
Address
1500 Sunday Drive Suite 300, Raleigh, NC 27607
Preparer
Amy E Smith
Phone
9192325900
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IRS990/MissionDesc0The Triangle Educational Advancement Foundation is a 501(c)3 non-profit organization that was established in 1994 to oversee the HighSchoolOT.com Holiday Invitational Basketball Tournament and to provide scholarships to Triangle area high school students. The HighSchoolOT.com tournament has become a holiday tradition for the Triangle community and has provided lifelong athletic experiences for players, coaches and fans. The proceeds of the tournament and the generous annual gift from Capitol Broadcasting Company have made it possible for The Triangle Educational Advancement Foundation to have awarded more than $1 million in scholarships. In 2009 the Foundation established new criteria for the scholarships in order to make a bigger impact on the winners. Students from 43 public schools in the Triangle are now eligible to receive one of the ten scholarships in the amount of $5000 that goes towards their college education during their freshman year of college.
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt087411
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt078060
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0422024
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt052
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt059
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0140
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0264
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0389
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0904
IRS990ScheduleA/InvestmentIncomeCYPct00.00130
IRS990ScheduleA/InvestmentIncomePYPct00.03230
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.67190
IRS990ScheduleA/PublicSupportPY509Pct00.65410
IRS990ScheduleA/PublicSupportTotal509Amt0471973
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt086522
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt078023
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt05000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt060000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0229545
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0180111
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0194054
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt078258
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0152715
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt096380
IRS990ScheduleA/Total509Grp/TotalAmt0701518
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0180163
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0194113
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt078398
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0152979
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt096769
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0702422
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt060000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0College Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt018
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The criteria established by the TEAF for these scholarships include financial need, academic achievement, community involvement, athletic achievement and demonstrated leadership. Triangle area school administrators nominate up to 2 students from each school for scholarship consideration. The TEAF Board of Directors selected 10 scholarship recipients from the pool of nominated students. The 10 winners receive non-renewing $5,000 scholarships for the college or university of their choice. TEAF sends scholarship checks to the respective colleges and universities.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Schedule I, Part III
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board members Doyle Parrish and Ian Sauer both work for Summit Hospitality.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A copy of the Form 990 was provided to the members of the board for review before submission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board reviewed the Executive Director's compensation at a board meeting. Members of the Board are familiar with other organizations similar to ours and noted that the compensation for the ED is in line with the norm.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Documents are available by request. Contact information is available on the foundation's website.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0220124
IRS990/TotalAssetsEOYAmt0246347
IRS990/TotalAssetsGrp/BOYAmt0220124
IRS990/TotalAssetsGrp/EOYAmt0246347
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt095923
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05953
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0141500
IRS990/TotalFunctionalExpensesGrp/TotalAmt0147453
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt061272
IRS990/TotalLiabilitiesEOYAmt054785
IRS990/TotalLiabilitiesGrp/BOYAmt061272
IRS990/TotalLiabilitiesGrp/EOYAmt054785
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0158852
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0191562
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0141500
IRS990/TotalProgramServiceRevenueAmt084188
IRS990/TotalReportableCompFromOrgAmt019000
IRS990/TotalRevenueGrp/ExclusionAmt052
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt084188
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0180163
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0220124
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0246347
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0900 Walcott way
IRS990/USAddress/CityNm0Cary
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027519
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0http://teafnc.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0John Boone
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Member
ReturnHeader/BusinessOfficerGrp/PhoneNum09199613765
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Triangle Educational Advancement
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Foundation
ReturnHeader/Filer/BusinessNameControlTxt0TRIA
ReturnHeader/Filer/EIN0561803864
ReturnHeader/Filer/PhoneNum09199613765
ReturnHeader/Filer/USAddress/AddressLine1Txt0C/o John Boone 900 Walcott Way
ReturnHeader/Filer/USAddress/CityNm0Cary

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$246,347
Liabilities
$54,785
Net assets
$191,562
Revenue
$180,163
Expenses
$147,453
Net income
$32,710
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$0.52$0.79$3.84$3.47$0.37
2023Detailed filing. Detailed filing data is available for this year.$2.13$1.71$0.42$2.58$2.31$0.26
2022Detailed filing. Detailed filing data is available for this year.$1.46$1.30$0.16$2.15$2.45$0.30
2021Detailed filing. Detailed filing data is available for this year.$2.08$1.62$0.46$1.32$2.06$0.74
2020Detailed filing. Detailed filing data is available for this year.$1.31$0.11$1.20$0.69$0.68$0.02
2019Detailed filing. Detailed filing data is available for this year.$2.32$1.13$1.19$2.10$2.23$0.13
2018Detailed filing. Detailed filing data is available for this year.$2.28$0.96$1.32$1.39$2.04$0.65
2017Detailed filing. Detailed filing data is available for this year.$2.71$0.74$1.97$2.31$1.68$0.63
2016Detailed filing. Detailed filing data is available for this year.$2.01$0.67$1.34$0.98$1.56$0.58
2015Detailed filing. Detailed filing data is available for this year.$2.46$0.55$1.92$1.80$1.47$0.33
2014Detailed filing. Detailed filing data is available for this year.$2.20$0.61$1.59$1.94$1.49$0.45
2013Detailed filing. Detailed filing data is available for this year.$1.73$0.60$1.14$0.78$1.40$0.62
2012Summary only. Only limited summary data is available for this year.$2.35$0.60$1.76$1.53$1.48$0.05
2011Summary only. Only limited summary data is available for this year.$2.08$0.37$1.71$0.97$1.58$0.61
2010Summary only. Only limited summary data is available for this year.$2.75$0.44$2.32$1.89$1.72$0.17