Civic Intelligence

Triangle Educational Advancement Foundation

990 • Fiscal year 2023 • EIN 56-1803864

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

CO Chris Smith 5405 Peacenest DrRaleigh, NC 27610

(919) 607-9476

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.80x

Higher debt load relative to assets than 93% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

94th percentile

0.66x

Higher debt load relative to revenue than 94% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

62nd percentile

10%

Higher net margin than 62% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

85th percentile

$20,000

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

84th percentile

46%

Faster asset growth than 84% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

65th percentile

20%

Faster revenue growth than 65% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$213,128

Up $67,309 (+46%) from 2022

Net Assets

Up

$42,241

Up $26,458 (+168%) from 2022

Liabilities

Up

$170,887

Up $40,851 (+31%) from 2022

Revenue

Up

$257,760

Up $42,628 (+20%) from 2022

Expenses

Down

$231,302

Down $14,090 (-5.7%) from 2022

Net Income

Up

$26,458

Up $56,718 (+187%) from 2022

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

2023

Assets$213,128
Liabilities$170,887
Net Assets$42,241

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

2023

Revenue$257,760
Expenses$231,302
Net Income$26,458
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$257,760
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$50,711$128,267▲ $77,556
Accounts Receivable$95,108$84,861▼ $10,247
Rtn Earn Endowment Incm Other Fnds$15,783$42,241▲ $26,458
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$145,819$213,128▲ $67,309
Liabilities
Accounts Payable and Accrued Expenses$130,036$170,887▲ $40,851
Total Liabilities$130,036$170,887▲ $40,851
Net Assets / Fund Balance
Total Net Assets Fund Balance$15,783$42,241▲ $26,458
Total Liabilities and Net Assets / Fund Balance$145,819$213,128▲ $67,309
Compensation and Service Providers

Employees

NameTitleBaseTotal
Bill SewellExecutive Director$20,000$20,000

Board Members and Trustees

NameTitle
Shannon ScottPresident
Cierra WallBoard Member
John MitchellrnBoard Member
Lindsay WillisBoard Member
Tammy JonesBoard Member
Tanya PulleyBoard Member
William ClaytonBoard Member
Yates ParishBoard Member
Bobby GuthrieMember Emeritus
Ian Wg SauerMember Emeritus
Rudy WatsonMember Emeritus
Christopher SmithSecretary & Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$124,100
Program Service Revenue
$133,660
Investment Income
$0
Other Revenue
$0
All Other Contributions
$124,100
Change in Net Assets
$26,458
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$150,802
Grants and Similar Amounts Paid$60,500
Salaries, Compensation, and Employee Benefits$20,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$60,500--$60,500
Advertising$27,757--$27,757
Occupancy-$24,875-$24,875
Current Officers, Directors, Trustees, and Key Employees$20,000--$20,000
Travel$14,369--$14,369
Fees for Services Legal-$7,950-$7,950
Insurance-$6,181-$6,181
Office Expenses-$5,363-$5,363
Interest-$412-$412
Other Expenses$63,828$15-$15
Total Functional Expenses$186,454$44,848$0$231,302
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 members ian sauer and yates parish work 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 CHRIS SMITH 5405 PEACENEST DR, RALEIGH, NC 27610

Signing Officer

Name
Christopher B Smith
Title
Secretary & Treasurer
Phone
9196079476
Signed
2024-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher B Smith
Formed
1992
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
5

Preparer

Firm
Eag Triangle LLC
Address
1500 SUNDAY DRIVE SUITE 300, RALEIGH, NC 27607
Preparer
Tim Robinson
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 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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IRS990/PYTotalRevenueAmt0215132
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt026458
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0133660
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt015783
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt042241
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0124100
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt095649
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt030250
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt065520
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt070100
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0385619
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt06
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt091
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0102
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0133660
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0119481
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0101474
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt03750
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0139394
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0497759
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt02
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt03
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt06
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt091
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0102
IRS990ScheduleA/InvestmentIncomeCYPct00.00010
IRS990ScheduleA/InvestmentIncomePYPct00.00020
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99990
IRS990ScheduleA/PublicSupportPY509Pct00.99980
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0215130
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0131724
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt069270
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0257760
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0215132
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0131727
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt069276
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0883480
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IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE I, PART III
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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.
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt044848
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0186454
IRS990/TotalFunctionalExpensesGrp/TotalAmt0231302
IRS990/TotalGrossUBIAmt00
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IRS990/TotalProgramServiceRevenueAmt0133660
IRS990/TotalReportableCompFromOrgAmt020000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0133660
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0257760
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0145819
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0213128
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt014369
IRS990/TravelGrp/TotalAmt014369
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/StateAbbreviationCd0NC
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IRS990/VotingMembersGoverningBodyCnt012
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IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRISTOPHER B SMITH
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-13
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Document Assets

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Filings

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