Civic Intelligence

Triangle Educational Advancement Foundation

990 • Fiscal year 2020 • EIN 56-1803864

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 10, 2021

Organization ProfileTEAFNC.ORG
CO John Boone 900 Walcott WayCary, NC 27519

(919) 607-9476

Siviq Scores

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

Liabilities / Assets

74th percentile

0.08x

Higher debt load relative to assets than 74% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

81st percentile

0.16x

Higher debt load relative to revenue than 81% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

46th percentile

2.4%

Higher net margin than 46% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

83rd percentile

$19,000

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 27.4% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

10th percentile

-43%

Faster asset growth than 10% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

14th percentile

-67%

Faster revenue growth than 14% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets74th percentile

Assets

Down

$131,164

Down $100,429 (-43%) from 2019

Net Assets

Up

$120,257

Up $1,684 (+1.4%) from 2019

Liabilities

Down

$10,907

Down $102,113 (-90%) from 2019

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin46th percentile

Revenue

Down

$69,276

Down $140,309 (-67%) from 2019

Expenses

Down

$67,592

Down $155,040 (-70%) from 2019

Net Income

Up

$1,684

Up $14,731 (+113%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

2020

Assets$131,164
Liabilities$10,907
Net Assets$120,257
Open 2020 Filing

Operations Trend

Revenue Growth14th percentile

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

2020

Revenue$69,276
Expenses$67,592
Net Income$1,684
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 10, 2021
Return Version
2020v4.1
Gross Receipts
$69,276
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$227,093$131,164▼ $95,929
Rtn Earn Endowment Incm Other Fnds$118,573$120,257▲ $1,684
Accounts Receivable$4,500$0▼ $4,500
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$231,593$131,164▼ $100,429
Liabilities
Accounts Payable and Accrued Expenses$113,020$10,907▼ $102,113
Total Liabilities$113,020$10,907▼ $102,113
Net Assets / Fund Balance
Total Net Assets Fund Balance$118,573$120,257▲ $1,684
Total Liabilities and Net Assets / Fund Balance$231,593$131,164▼ $100,429
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

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

Board Members and Trustees

NameTitle
Bobby GuthrieCo-president
Rudy WatsonCo-president
Ian Wg SauerBoard Member
Jason SoperBoard Member
Philip IsleyBoard Member
Shannon ScottBoard Member
Tammy JonesBoard Member
John BooneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$65,520
Program Service Revenue
$3,750
Investment Income
$6
Other Revenue
$0
All Other Contributions
$65,520
Change in Net Assets
$1,684
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$50,000
Salaries, Compensation, and Employee Benefits$9,500
Other Expenses$8,092
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$50,000--$50,000
Current Officers, Directors, Trustees, and Key Employees$9,500--$9,500
Fees for Services Accounting-$3,625-$3,625
Insurance-$987-$987
Other Expenses$1,407$119-$119
Total Functional Expenses$60,907$6,685$0$67,592
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 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
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 member ian sauer works for summit hospitality.”

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

“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
9196079476
Address
CO JOHN BOONE 900 WALCOTT WAY, CARY, NC 27519

Signing Officer

Name
John Boone
Title
Board Member
Phone
9196079476
Signed
2021-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Boone
Formed
1992
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
0

Preparer

Firm
Hughes Pittman & Gupton Llp
Address
1500 SUNDAY DRIVE SUITE 300, RALEIGH, NC 27607
Preparer
J Timmons Robinson
Phone
9192325900
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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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IRS990/MissionDesc0THE 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.
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt045162
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IRS990ScheduleA/InvestmentIncomeCYPct00.00040
IRS990ScheduleA/InvestmentIncomePYPct00.00040
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IRS990ScheduleA/PublicSupportPY509Pct00.77180
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0209494
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0231053
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt065856
IRS990ScheduleA/Total509Grp/TotalAmt0714295
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt069276
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0209585
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0138696
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0231106
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt065909
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0714572
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt050000
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt010
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 MEMBER IAN SAUER WORKS 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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/EOYAmt0131164
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt065520
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06685
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt060907
IRS990/TotalFunctionalExpensesGrp/TotalAmt067592
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0113020
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IRS990/TotalLiabilitiesGrp/BOYAmt0113020
IRS990/TotalLiabilitiesGrp/EOYAmt010907
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt08
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN BOONE
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ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-10
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01500 SUNDAY DRIVE SUITE 300
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ReturnHeader/PreparerPersonGrp/PhoneNum09192325900
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J TIMMONS ROBINSON
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ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$131,164
Liabilities
$10,907
Net assets
$120,257
Revenue
$69,276
Expenses
$67,592
Net income
$1,684
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