Civic Intelligence

College Foundation Inc.

990 • Fiscal year 2014 • EIN 56-6046937

Jul 01, 2013 to Jun 30, 2014 • Filed on Jan 29, 2015

Organization ProfileWWW.CFNC.ORG

View Organization Page

PO Box 4196627629-1966

(919) 834-2893

Siviq Scores

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

Liabilities / Assets

47th percentile

0.25x

Higher debt load relative to assets than 47% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Liabilities / Revenue

56th percentile

0.41x

Higher debt load relative to revenue than 56% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Net Margin

15th percentile

-7.5%

Higher net margin than 15% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Top Officer Pay

43rd percentile

$214,701

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2014

Asset Growth

29th percentile

-0.2%

Faster asset growth than 29% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2013 to 2014

Revenue Growth

32nd percentile

-0.6%

Faster revenue growth than 32% of similar nonprofits.

2014 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2011 to 2014

Balance Sheet
Liabilities / Assets47th percentile

Assets

Down

$49,499,785

Down $92,114 (-0.2%) from 2013

Net Assets

Up

$37,191,338

Up $2,656 (+0.0%) from 2013

Liabilities

Down

$12,308,447

Down $94,770 (-0.8%) from 2013

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin15th percentile

Revenue

$29,826,106

No earlier filing loaded for comparison.

Expenses

Down

$32,062,912

Down $1,291,387 (-3.9%) from 2013

Net Income

-$2,236,806

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

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

$60M$40M$20M$0Assets 2010: $53,713,529Liabilities 2010: $19,340,586Net Assets 2010: $34,372,9432010Assets 2011: $53,394,201Liabilities 2011: $18,116,028Net Assets 2011: $35,278,1732011Assets 2012: $50,322,123Liabilities 2012: $14,452,256Net Assets 2012: $35,869,8672012Assets 2013: $49,591,899Liabilities 2013: $12,403,217Net Assets 2013: $37,188,6822013Assets 2014: $49,499,785Liabilities 2014: $12,308,447Net Assets 2014: $37,191,3382014Assets 2015: $48,922,972Liabilities 2015: $12,623,468Net Assets 2015: $36,299,5042015Assets 2016: $51,469,402Liabilities 2016: $14,651,042Net Assets 2016: $36,818,3602016Assets 2017: $51,277,043Liabilities 2017: $13,483,812Net Assets 2017: $37,793,2312017Assets 2018: $51,292,354Liabilities 2018: $11,984,427Net Assets 2018: $39,307,9272018Assets 2019: $51,427,610Liabilities 2019: $11,630,961Net Assets 2019: $39,796,6492019Assets 2020: $51,700,629Liabilities 2020: $11,856,547Net Assets 2020: $39,844,0822020Assets 2021: $52,338,286Liabilities 2021: $9,112,664Net Assets 2021: $43,225,6222021Assets 2022: $54,729,699Liabilities 2022: $14,515,019Net Assets 2022: $40,214,6802022Assets 2023: $52,501,264Liabilities 2023: $7,424,427Net Assets 2023: $45,076,8372023Assets 2024: $51,135,122Liabilities 2024: $2,099,341Net Assets 2024: $49,035,7812024Assets 2025: $55,777,315Liabilities 2025: $6,178,557Net Assets 2025: $49,598,7582025

Highlighted filing

2014

Assets$49,499,785
Liabilities$12,308,447
Net Assets$37,191,338
Open 2014 Filing

Operations Trend

Revenue Growth32nd percentile

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

$40M$30M$20M$10M$0-$10MExpenses 2010: $32,846,6382010Revenue 2011: $30,406,600Expenses 2011: $29,791,331Net Income 2011: $615,2692011Expenses 2012: $29,371,6792012Expenses 2013: $33,354,2992013Revenue 2014: $29,826,106Expenses 2014: $32,062,912Net Income 2014: -$2,236,8062014Revenue 2015: $24,786,966Expenses 2015: $25,539,674Net Income 2015: -$752,7082015Revenue 2016: $25,548,317Expenses 2016: $24,991,688Net Income 2016: $556,6292016Revenue 2017: $26,538,744Expenses 2017: $25,688,254Net Income 2017: $850,4902017Revenue 2018: $28,415,354Expenses 2018: $27,172,267Net Income 2018: $1,243,0872018Revenue 2019: $28,116,782Expenses 2019: $28,397,805Net Income 2019: -$281,0232019Revenue 2020: $28,460,458Expenses 2020: $28,484,911Net Income 2020: -$24,4532020Revenue 2021: $27,866,306Expenses 2021: $26,815,025Net Income 2021: $1,051,2812021Revenue 2022: $28,583,113Expenses 2022: $27,893,424Net Income 2022: $689,6892022Revenue 2023: $31,424,429Expenses 2023: $27,659,962Net Income 2023: $3,764,4672023Revenue 2024: $27,329,303Expenses 2024: $24,977,798Net Income 2024: $2,351,5052024Revenue 2025: $31,717,688Expenses 2025: $32,113,959Net Income 2025: -$396,2712025

Highlighted filing

2014

Revenue$29,826,106
Expenses$32,062,912
Net Income-$2,236,806
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Jan 29, 2015
Return Version
2013v4.0
Gross Receipts
$30,081,569
Mission and Program Overview

Mission

Our work today makes a better tomorrow by empowering people to achieve their academic goals. We provide financial assistance for higher education to benefit society and strengthen the economy of the state of North Carolina.

Our work today makes a better tomorrow by empowering people to achieve their academic goals. At june 30, the foundation was servicing a loan portfolio valued at $2,376,944,114 and administering north carolina's national college savings program with a portfolio valued at $1,549,087,849. During the tax year, students used the cfnc.org website to submit 462,568 applications to nc colleges.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$16,814,962$19,389,316▲ $2,574,354
Land, Buildings, and Equipment, Net$18,017,640$17,546,459▼ $471,181
Accounts Receivable$9,771,645$7,589,365▼ $2,182,280
Investments Program Related$2,316,281$2,162,544▼ $153,737
Prepaid Expenses and Deferred Charges$1,969,090$1,752,649▼ $216,441
Cash and Non-Interest-Bearing Accounts$494,436$38,560▼ $455,876
Total Assets$49,591,899$49,499,785▼ $92,114
Other Assets Total$207,845$1,020,892▲ $813,047
Liabilities
Other Liabilities$7,662,394$9,852,021▲ $2,189,627
Accounts Payable and Accrued Expenses$2,721,600$2,419,166▼ $302,434
Deferred Revenue$1,981,464--
Escrow Account Liability$37,759$37,260▼ $499
Total Liabilities$12,403,217$12,308,447▼ $94,770
Net Assets / Fund Balance
Unrestricted Net Assets$36,592,416$36,621,537▲ $29,121
Permanently Rstr Net Assets$555,000$555,000→ $0
Temporarily Rstr Net Assets$41,266$14,801▼ $26,465
Total Net Assets Fund Balance$37,188,682$37,191,338▲ $2,656
Total Liabilities and Net Assets / Fund Balance$49,591,899$49,499,785▼ $92,114

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,705,321$10,768,218$12,473,539
Buildings$11,222,233$5,137,208$12,450,030
Equipment$2,354,715$9,565,680$11,920,395
Land$2,264,190-$1,302,882

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$4,501,782$75,894▲ $16,207-$4,586,158
2012$3,708,000$778,460▲ $15,322-$4,501,782
2011$3,698,109$10▲ $25,333-$3,708,000
2010$3,679,457-▲ $24,187-$3,698,109
2009$3,669,596-▲ $16,660-$3,679,457
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Wendy H McalisterPresident & CEOFT$183,479$31,222$214,701
Patrick J KaiserVice PresidentFT$165,629$30,496$196,125
Shera J HubeVice PresidentFT$145,032$22,956$167,988
Karl D Vass JrSecretary & TreasurerFT$132,366$26,075$158,441
Richard H FerneyhoughIt Development ManagerFT$130,256$14,294$144,550
Dawn S HarrisIt Operations ManagerFT$125,785$16,770$142,555
Martin FlournoryWeb Development & Cfnc Technical Support ManagerFT$120,494$20,559$141,053
Rose Mary StelmaVice PresidentFT$120,216$17,020$137,236
Daniel SullivanSecurity Officer/project ManagerFT$113,362$21,235$134,597
Tom AugustineInformation Technology ManagerFT$105,349$16,350$121,699

Board Members and Trustees

NameTitle
Charles J StewartChairman of the Board
Robert F LoweVice Chairman of the Board
Stephen G AshworthTreasurer of the Board
A Hope WilliamsTrustee
Hal S JohnsonTrustee
Hilda Pinnix-raglandTrustee
M E Valentine JrTrustee
Robert E Hammersley JrTrustee
Tate C JohnsonTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Educational Loan Servicing LLCLoan Servicing Information Technology-$1,199,283
Roth Staffing Companies LPContract Staffing-$563,233
Agio LLCInformation Technology-$243,955
Koonce Wooten & Haywood LLPAuditing-$211,600
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$29,626,476
Investment Income
$2,846
Other Revenue
$196,784
Change in Net Assets
$-2,236,806

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,826,106
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$29,826,106
Total Revenue per Form 990
$29,826,106
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,561,184
Salaries, Compensation, and Employee Benefits$15,468,244
Grants and Similar Amounts Paid$33,484
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,127,736$806,557-$10,934,293
Information Technology$4,312,602$340,610-$4,653,212
Advertising$2,721,931--$2,721,931
Other Employee Benefits$2,250,501$179,227-$2,429,728
Depreciation Depletion$1,813,337$144,411-$1,957,748
Office Expenses$1,802,285$37,627-$1,839,912
Current Officers, Directors, Trustees, and Key Employees$830,096$66,108-$896,204
Payroll Taxes$813,849$64,814-$878,663
Fees for Services Other$640,178$31,170-$671,348
Occupancy$417,759$32,694-$450,453
Pension Plan Contributions$305,062$24,294-$329,356
Fees for Services Accounting$123,410$131,760-$255,170
Travel$125,580$3,830-$129,410
Insurance$110,593$7,602-$118,195
All Other Expenses$30,766$4,232-$34,998
Grants to Domestic Individuals$33,484--$33,484
Other Expenses$27,328$2,176-$29,504
Fees for Services Legal$12,752$3,761-$16,513
Fees for Service Investment Mgmnt Fees$12,000--$12,000
Conferences and Meetings$125--$125
Total Functional Expenses$29,924,636$2,138,276$0$32,062,912

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$32,062,912
Total Expenses per Audited Statements$32,062,912
Total Expenses per Form 990$32,062,912
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Payable to Related Organization$4,930,968
Contingency for Uninsured Loans$4,800,000
Deferred Compensation Payable$121,053
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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, Part VI, Section A, Line 6

“The governor of the state of north carolina has the power to appoint the trustees of college foundation, inc.”

Form 990, Part VI, Section A, Line 7A

“Members of the board of trustees are appointed by the governor of the state of north carolina.”

Form 990, Part VI, Section B, Line 11

“The form 990 is completed by the financial services manager and is then reviewed by the vice president of financial services and general counsel prior to being submitted to the ceo for her review. Copies of the approved form are then sent to all members of the board of trustees prior to filing with the irs.”

Form 990, Part VI, Section B, Line 12C

“The foundation requires officers and trustees to annually complete a "certification of compliance with the code of ethics and conflict of interest policy" form and monitors for the timely completion of the certification by all officers and trustees.”

Form 990, Part VI, Section B, Line 15

“All jobs in the foundation, including those of the ceo and other executives, are assigned job grades based on level of responsibility and significance of duties performed. Job grades are benchmarked by evaluating jobs with similar job functions in organizations located principally in central and eastern north carolina. Annually salary ranges for each job grade are compared against those provided by peers in this geographic area. This is accomplished via surveys provided by capital associated industries and other human resource firms. The compensation for the officers as well as the rest of the staff is determined by those salary reviews, individual job performance, economic conditions, and approval by the board of trustees. Periodically an outside consulting firm is hired to provide an independent review of job grades and salary ranges.”

Form 990, Part VI, Section C, Line 19

“The foundation makes its governing documents, conflict of interest policy and financial statements available to the public by providing copies or allowing for inspection upon request. Corporate filings may be viewed on the website of the nc secretary of state.”

Filing and Contact Details

Filer

EIN
56-6046937
Phone
9198342893

Signing Officer

Name
Wendy H Mcalister
Title
President and CEO
Phone
9198342893
Signed
2015-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wendy H Mcalister
Formed
1955
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
252
Volunteers
9

Preparer

Preparer
Christopher Duffus
Phone
9197829265
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“The foundation ceased servicing loans owned by the federal government after the contractor providing the system used to service the loans announced its intention to cease operations. These loans were transferred to the missouri higher education loan authority under a full-service contract.”

FORM 990, PART XI, LINE 9:

“Postretirement-related changes other than net periodic post retirement costs as calculated consistent with generally accepted accounting principles. 2,239,462.”

Financial Statement Notes

PART IV, LINE 1B:

“The foundation serves as trustee or agent for the nc state education assistance authority loan fund, banks participating in the assigned loan fund, and participants in the special loan fund. As loan proceeds including principal and interest payments are collected from borrowers and other payers, the funds are promptly remitted to the applicable funding source. The foundation serves as agent for the nc state education assistance authority in the administration of various grant and scholarship programs. Funds provided by the authority are disbursed to the colleges and universities participating in the programs for award to eligible students. As agent for the nc state education assistance authority in the adminstration of north carolina's national college savings program, the foundation receives contributions from participants and passes the funds to the appropriate investment fund manager. Funds are also obtained back from the investment fund managers in order to distribute them as directed by participants.”

PART IV, LINE 2B:

“The foundation operates the college funds installment payment plan. Students enrolled in nc colleges and universities that participate in the plan make interest-free monthly payments that the foundation, acting as agent, collects and forwards to the appropriate school.”

PART V, LINE 4:

“Endowment funds are for use as student loans or scholarships.”

Raw XML AppendixShowing 400 of 744 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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IRS990/ActivityOrMissionDesc0OUR WORK TODAY MAKES A BETTER TOMORROW BY EMPOWERING PEOPLE TO ACHIEVE THEIR ACADEMIC GOALS. AT JUNE 30, THE FOUNDATION WAS SERVICING A LOAN PORTFOLIO VALUED AT $2,376,944,114 AND ADMINISTERING NORTH CAROLINA'S NATIONAL COLLEGE SAVINGS PROGRAM WITH A PORTFOLIO VALUED AT $1,549,087,849. DURING THE TAX YEAR, STUDENTS USED THE CFNC.ORG WEBSITE TO SUBMIT 462,568 APPLICATIONS TO NC COLLEGES.
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IRS990/Desc0EDUCATIONAL LOAN PROGRAMS. AS OF JUNE 30, 2014, THE FOUNDATION WAS SERVICING 496,789 LOANS TO 159,099 BORROWERS WITH AN OUTSTANDING PRINCIPAL BALANCE OF $2,376,944,114. THE FOUNDATION SERVICES LOANS FOR HIGHER EDUCATION FOR NORTH CAROLINIANS AT INSTITUTIONS OF HIGHER EDUCATION AND FOR STUDENTS ATTENDING INSTITUTIONS OF HIGHER EDUCATION IN NORTH CAROLINA. THE FOUNDATION SERVICES LOANS MADE UNDER PART B, TITLE IV OF THE HIGHER EDUCATION ACT (HEA) OF 1965, AS AMENDED, LOANS TO UNC CHAPEL HILL STUDENTS THAT HELPED TO FINANCE A COMPUTER PURCHASE, "EXTRA" EDUCATION LOANS TO BORROWERS ATTENDING SCHOOLS IN NC FOR QUALIFIED HIGHER EDUCATION EXPENSES NOT COVERED UNDER NC'S FEDERAL FAMILY EDUCATION LOAN PROGRAM (FFELP), AND "EXTRA MBA" LOANS TO BORROWERS FROM THE KENAN-FLAGLER BUSINESS SCHOOL MBA OR MAC PROGRAMS AT UNC CHAPEL HILL WHO WERE UNABLE TO SECURE LOANS UNDER NC'S FFELP OR THE EXTRA EDUCATION LOAN PROGRAM.
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IRS990/Form990PartVIISectionAGrp/PersonNm0CHARLES J STEWART
IRS990/Form990PartVIISectionAGrp/PersonNm1ROBERT F LOWE
IRS990/Form990PartVIISectionAGrp/PersonNm2STEPHEN G ASHWORTH
IRS990/Form990PartVIISectionAGrp/PersonNm3ROBERT E HAMMERSLEY JR
IRS990/Form990PartVIISectionAGrp/PersonNm4HAL S JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm5TATE C JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm6HILDA PINNIX-RAGLAND
IRS990/Form990PartVIISectionAGrp/PersonNm7M E VALENTINE JR
IRS990/Form990PartVIISectionAGrp/PersonNm8A HOPE WILLIAMS
IRS990/Form990PartVIISectionAGrp/PersonNm9WENDY H MCALISTER
IRS990/Form990PartVIISectionAGrp/PersonNm10KARL D VASS JR
IRS990/Form990PartVIISectionAGrp/PersonNm11SHERA J HUBE
IRS990/Form990PartVIISectionAGrp/PersonNm12PATRICK J KAISER
IRS990/Form990PartVIISectionAGrp/PersonNm13ROSE MARY STELMA
IRS990/Form990PartVIISectionAGrp/PersonNm14RICHARD H FERNEYHOUGH
IRS990/Form990PartVIISectionAGrp/PersonNm15DAWN S HARRIS
IRS990/Form990PartVIISectionAGrp/PersonNm16MARTIN FLOURNORY
IRS990/Form990PartVIISectionAGrp/PersonNm17DANIEL SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm18TOM AUGUSTINE
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10140158
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11148597
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10SECRETARY & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt12VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt13VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14IT DEVELOPMENT MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt15IT OPERATIONS MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt16WEB DEVELOPMENT & CFNC TECHNICAL SUPPORT MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt17SECURITY OFFICER/PROJECT MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt18INFORMATION TECHNOLOGY MANAGER
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IRS990/FormationYr01955
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IRS990/GrossRentsGrp/RealAmt0452247
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IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt0340610
IRS990/InformationTechnologyGrp/ProgramServicesAmt04312602
IRS990/InformationTechnologyGrp/TotalAmt04653212
IRS990/InsuranceGrp/ManagementAndGeneralAmt07602
IRS990/InsuranceGrp/ProgramServicesAmt0110593
IRS990/InsuranceGrp/TotalAmt0118195
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02846
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IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt017546459
IRS990/LandBldgEquipCostOrOtherBssAmt043017565
IRS990/LegalDomicileStateCd0NC
IRS990/LessRentalExpensesGrp/RealAmt0255463
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0OUR WORK TODAY MAKES A BETTER TOMORROW BY EMPOWERING PEOPLE TO ACHIEVE THEIR ACADEMIC GOALS. WE PROVIDE FINANCIAL ASSISTANCE FOR HIGHER EDUCATION TO BENEFIT SOCIETY AND STRENGTHEN THE ECONOMY OF THE STATE OF NORTH CAROLINA.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt037188682
IRS990/NetAssetsOrFundBalancesEOYAmt037191338
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0196784
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0196784
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt032694
IRS990/OccupancyGrp/ProgramServicesAmt0417759
IRS990/OccupancyGrp/TotalAmt0450453
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt037627
IRS990/OfficeExpensesGrp/ProgramServicesAmt01802285
IRS990/OfficeExpensesGrp/TotalAmt01839912
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0207845
IRS990/OtherAssetsTotalGrp/EOYAmt01020892
IRS990/OtherChangesInNetAssetsAmt02239462
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0179227
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt02250501
IRS990/OtherEmployeeBenefitsGrp/TotalAmt02429728
IRS990/OtherExpensesGrp/Desc0POSTRETIREMENT CONTRIB
IRS990/OtherExpensesGrp/Desc1COMPUTERIZED SERVICES
IRS990/OtherExpensesGrp/Desc2MM SUBSIDY COSTS
IRS990/OtherExpensesGrp/Desc3PROFESSIONAL ORGANIZATI
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0218620
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt138783
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22176
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IRS990/OtherExpensesGrp/ProgramServicesAmt1626865
IRS990/OtherExpensesGrp/ProgramServicesAmt241243
IRS990/OtherExpensesGrp/ProgramServicesAmt327328
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IRS990/OtherExpensesGrp/TotalAmt1665648
IRS990/OtherExpensesGrp/TotalAmt241243
IRS990/OtherExpensesGrp/TotalAmt329504
IRS990/OtherLiabilitiesGrp/BOYAmt07662394
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0806557
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt010127736
IRS990/OtherSalariesAndWagesGrp/TotalAmt010934293
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt064814
IRS990/PayrollTaxesGrp/ProgramServicesAmt0813849
IRS990/PayrollTaxesGrp/TotalAmt0878663
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt024294
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0305062
IRS990/PensionPlanContributionsGrp/TotalAmt0329356
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IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0555000
IRS990/PoliticalCampaignActyInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt01752649
IRS990/PrincipalOfficerNm0WENDY H MCALISTER
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
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IRS990/ProgramServiceRevenueGrp/BusinessCd3611710
IRS990/ProgramServiceRevenueGrp/Desc0EDUCATIONAL LOAN PROGRAMS
IRS990/ProgramServiceRevenueGrp/Desc1INFORMATION DISSEMINATION INITIAT
IRS990/ProgramServiceRevenueGrp/Desc2NC529 COLLEGE SAVINGS PROGRAM
IRS990/ProgramServiceRevenueGrp/Desc3SCHOOL SERVICES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt015695885
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt15200726
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt23296654
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt32815779
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt015695885
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15200726
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23296654
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt32815779
IRS990/ProgSrvcAccomActy2Grp/Desc0INFORMATION DISSEMINATION INITIATIVE. THE FOUNDATION ADMINISTERS THE COLLEGE FOUNDATION OF NORTH CAROLINA (CFNC) PROGRAM TO COORDINATE INFORMATION DISSEMINATION EFFORTS TO INCREASE ACCESS TO HIGHER EDUCATION IN NORTH CAROLINA AND PROVIDE INFORMATION ON PLANNING, APPLYING, AND PAYING FOR COLLEGE THROUGH A COMPREHENSIVE WEBSITE (WWW.CFNC.ORG), CALL CENTER AND PROGRAM INFORMATION SERVICES TO SCHOOLS, COLLEGES AND BUSINESSES. THE CFNC CALL CENTER RECEIVED 115,269 CALLS IN THE YEAR ENDED JUNE 30, 2014. THE PROGRAM PROVIDED 2,746 SPECIFIC PROGRAMS TO COLLEGES, K-12 SCHOOLS AND BUSINESSES, 17 NEWS RELEASES AND PUBLIC SERVICE ANNOUNCEMENTS, 2 COMMUNIQUES AND 5 OTHER NEWSLETTERS IN THE YEAR ENDED JUNE 30, 2014. REPLIES WERE SENT TO 4,997 E-MAIL INQUIRIES. PROSPECTIVE STUDENTS SUBMITTED 462,568 APPLICATIONS TO NC SCHOOLS USING THE WEBSITE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt05405708
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt05200726
IRS990/ProgSrvcAccomActy3Grp/Desc0NC 529 COLLEGE SAVINGS PROGRAM. THE FOUNDATION ACTS AS AGENT FOR THE NC STATE EDUCATION ASSISTANCE AUTHORITY IN THE ADMINISTRATION OF THE STATE'S COLLEGE SAVINGS AND INVESTMENT PROGRAM WHICH IS DESIGNED TO MEET THE REQUIREMENTS OF A "QUALIFIED" TUITION PROGRAM UNDER SECTION 529 OF THE INTERNAL REVENUE CODE. NORTH CAROLINA'S NATIONAL COLLEGE SAVINGS PROGRAM HAD 128,208 ACCOUNTS FOR 119,082 BENEFICIARIES AND A VALUE OF $1,549,087,849 AT JUNE 30, 2014. THE PROGRAM RECEIVED SAVINGS PLAN CONTRIBUTIONS OF $244,611,715 AND DISTRIBUTED WITHDRAWALS IN THE AMOUNT OF $97,457,296 FOR THE YEAR ENDED JUNE 30, 2014.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt03441188
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt03296654
IRS990/ProgSrvcAccomActyOtherGrp/Desc0SCHOOL SERVICES, NC COMMUNITY COLLEGE GRANT PROGRAM, UNC NEED-BASED GRANT PROGRAM, NC EDUCATION LOTTERY SCHOLARSHIP PROGRAM, NC NEED-BASED SCHOLARSHIP PROGRAM, COLLEGE FUNDS INSTALLMENT PAYMENT PLAN, VICTOR E. BELL, JR. SCHOLARSHIP PROGRAM, BROYHILL FAMILY FOUNDATION SCHOLARSHIPS, MANAGEMENT AND COMPUTER SERVICES, AND MISCELLANEOUS SCHOLARSHIP PROGRAMS.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt05745439
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt033484
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt05433211
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IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0813
IRS990/PYOtherExpensesAmt018266652
IRS990/PYOtherRevenueAmt07176906
IRS990/PYProgramServiceRevenueAmt030986740
IRS990/PYRevenuesLessExpensesAmt04810160

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$49,499,785
Liabilities
$12,308,447
Net assets
$37,191,338
Revenue
$29,826,106
Expenses
$32,062,912
Net income
-$2,236,806
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$55.8$6.18$49.6$31.7$32.1$0.40
2024Detailed filing. Detailed filing data is available for this year.$51.1$2.10$49.0$27.3$25.0$2.35
2023Detailed filing. Detailed filing data is available for this year.$52.5$7.42$45.1$31.4$27.7$3.76
2022Detailed filing. Detailed filing data is available for this year.$54.7$14.5$40.2$28.6$27.9$0.69
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.3$9.11$43.2$27.9$26.8$1.05
2020Detailed filing. Detailed filing data is available for this year.$51.7$11.9$39.8$28.5$28.5$0.02
2019Detailed filing. Detailed filing data is available for this year.$51.4$11.6$39.8$28.1$28.4$0.28
2018Detailed filing. Detailed filing data is available for this year.$51.3$12.0$39.3$28.4$27.2$1.24
2017Detailed filing. Detailed filing data is available for this year.$51.3$13.5$37.8$26.5$25.7$0.85
2016Detailed filing. Detailed filing data is available for this year.$51.5$14.7$36.8$25.5$25.0$0.56
2015Detailed filing. Detailed filing data is available for this year.$48.9$12.6$36.3$24.8$25.5$0.75
2014Detailed filing. Detailed filing data is available for this year.$49.5$12.3$37.2$29.8$32.1$2.24
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.6$12.4$37.2$33.4
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$50.3$14.5$35.9$29.4
2011Summary only. Only limited summary data is available for this year.$53.4$18.1$35.3$30.4$29.8$0.62
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$53.7$19.3$34.4$32.8