Civic Intelligence

College Foundation Inc.

990 • Fiscal year 2016 • EIN 56-6046937

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 09, 2017

Organization ProfileWWW.CFNC.ORG

View Organization Page

PO Box 41966Raleigh, NC 27629-1966

(919) 834-2893

Siviq Scores

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

Liabilities / Assets

47th percentile

0.28x

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

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Liabilities / Revenue

58th percentile

0.57x

Higher debt load relative to revenue than 58% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Net Margin

49th percentile

2.2%

Higher net margin than 49% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Top Officer Pay

27th percentile

$226,413

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2016

Asset Growth

65th percentile

5.2%

Faster asset growth than 65% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Revenue Growth

52nd percentile

3.1%

Faster revenue growth than 52% of similar nonprofits.

2016 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$51,469,402

Up $2,546,430 (+5.2%) from 2015

Net Assets

Up

$36,818,360

Up $518,856 (+1.4%) from 2015

Liabilities

Up

$14,651,042

Up $2,027,574 (+16%) from 2015

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin49th percentile

Revenue

Up

$25,548,317

Up $761,351 (+3.1%) from 2015

Expenses

Down

$24,991,688

Down $547,986 (-2.1%) from 2015

Net Income

Up

$556,629

Up $1,309,337 (+174%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth65th 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

2016

Assets$51,469,402
Liabilities$14,651,042
Net Assets$36,818,360
Open 2016 Filing

Operations Trend

Revenue Growth52nd 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

2016

Revenue$25,548,317
Expenses$24,991,688
Net Income$556,629
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 9, 2017
Return Version
2015v3.0
Gross Receipts
$25,821,385
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 $1,854,380,645 and administering north carolina's national college savings program with a portfolio valued at $1,814,330,927. During the tax year, students used the cfnc.org website to submit 438,094 applications to nc colleges, and the foundation completed 51,914 fafsa verifications for school financial aid offices.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$17,833,780$22,034,057▲ $4,200,277
Land, Buildings, and Equipment, Net$17,302,918$17,011,057▼ $291,861
Accounts Receivable$8,872,595$7,254,942▼ $1,617,653
Prepaid Expenses and Deferred Charges$1,710,707$2,216,158▲ $505,451
Investments Program Related$2,089,792$2,016,269▼ $73,523
Cash and Non-Interest-Bearing Accounts$41,128$39,501▼ $1,627
Total Assets$48,922,972$51,469,402▲ $2,546,430
Other Assets Total$1,072,052$897,418▼ $174,634
Liabilities
Other Liabilities$9,047,049$9,517,007▲ $469,958
Escrow Account Liability$1,104,434$2,577,795▲ $1,473,361
Accounts Payable and Accrued Expenses$2,471,985$2,556,240▲ $84,255
Total Liabilities$12,623,468$14,651,042▲ $2,027,574
Net Assets / Fund Balance
Unrestricted Net Assets$35,740,902$36,259,702▲ $518,800
Permanently Rstr Net Assets$555,000$555,000→ $0
Temporarily Rstr Net Assets$3,602$3,658▲ $56
Total Net Assets Fund Balance$36,299,504$36,818,360▲ $518,856
Total Liabilities and Net Assets / Fund Balance$48,922,972$51,469,402▲ $2,546,430

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,941,244$11,739,230$13,680,474
Buildings$10,846,582$6,022,863$12,701,534
Equipment$1,959,041$6,870,218$8,829,259
Land$2,264,190-$1,302,882

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$4,772,749$72,866▲ $30,410-$4,810,315
2014$4,586,158$203,033▲ $25,412-$4,772,749
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
Compensation and Service Providers
Top Officer Pay27th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Wendy H McalisterPresident & CEOFT$198,659$27,754$226,413
Patrick J KaiserVice PresidentFT$177,284$38,504$215,788
Shera J HubeVice PresidentFT$152,967$23,956$176,923
Karl D Vass JrSecretary & TreasurerFT$142,658$19,931$162,589
Martin FlournoryWeb Development & Cfnc TecFT$129,265$31,075$160,340
Rose Mary StelmaVice PresidentFT$135,715$22,622$158,337
Richard H FerneyhoughIt Development ManagerFT$136,745$19,157$155,902
Daniel SullivanSecurity Officer/proj. MgrFT$120,099$27,803$147,902
Dawn S HarrisIt Operations ManagerFT$127,818$18,691$146,509
Tom AugustineInfo. Tech. ManagerFT$115,001$17,588$132,589
Charles W Cole IiiTrustee--$61,000$61,000

Board Members and Trustees

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

Highest Paid Contractors

ContractorServicesLocationCompensation
Transvoyant LLCIt Project Management5845 RICHMOND HWY SUITE 600, Alexandria, VA 22303$527,165
Koonce Wooten & Haywood LLPAuditing4060 BARRETT DRIVE, Raleigh, NC 27609$155,535
Agio LLCInformation Technology201 DAVID BOREN BLVD SUITE 250, Norman, OK 73072$145,448
Robert HinesIt Project Management209 DUTCH HILL RD, Holly Springs, NC 27540$144,939
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$25,343,093
Investment Income
$12,532
Other Revenue
$192,692
Change in Net Assets
$556,629

Audited Revenue Reconciliation

Revenue per Audited Statements
$25,548,317
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$25,548,317
Total Revenue per Form 990
$25,548,317
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$13,431,635
Other Expenses$11,494,343
Grants and Similar Amounts Paid$65,710
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$9,117,297$709,530-$9,826,827
Information Technology$3,888,486$210,526-$4,099,012
Depreciation Depletion$1,740,088$149,505-$1,889,593
Advertising$1,736,102--$1,736,102
Other Employee Benefits$1,473,321$126,585-$1,599,906
Office Expenses$1,365,944$29,016-$1,394,960
Current Officers, Directors, Trustees, and Key Employees$812,598$63,940-$876,538
Payroll Taxes$727,315$62,489-$789,804
Fees for Services Other$644,046$5,142-$649,188
Occupancy$378,676$31,963-$410,639
Pension Plan Contributions$311,773$26,787-$338,560
Fees for Services Accounting$66,075$83,085-$149,160
Insurance$121,647$9,126-$130,773
Travel$115,899$5,915-$121,814
Grants to Domestic Individuals$65,710--$65,710
Other Expenses$28,793$2,302-$31,095
Fees for Service Investment Mgmnt Fees$6,000$18,000-$24,000
All Other Expenses$8,732$12,792-$21,524
Fees for Services Legal$17,200$3,171-$20,371
Conferences and Meetings$3,440--$3,440
Total Functional Expenses$23,396,290$1,595,398$0$24,991,688

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$24,991,688
Total Expenses per Audited Statements$24,991,688
Total Expenses per Form 990$24,991,688
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$5,683,116
Contingency for Uninsured Loans$3,700,000
Deferred Compensation Payable$133,891
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 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

“As a member, 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

Filer Name
College Foundation Inc
EIN
56-6046937
Phone
9198342893
Address
PO BOX 41966, RALEIGH, NC 27629-1966

Signing Officer

Name
Wendy H Mcalister
Title
President and CEO
Phone
9198342893
Signed
2017-02-09
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
205
Volunteers
9

Preparer

Firm
Koonce Wooten & Haywood Llp
Address
P O BOX 17806, RALEIGH, NC 27619-7806
Preparer
Linwood C Faulconer
Phone
9197829265
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Postretirement-related changes other than net periodic post retirement costs as calculated consistent with gaap -37,773.”

FORM 990, PART XII, LINE 2C:

“The organization has not changed its oversight process or selection process during the tax year.”

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. Principal and interest payments collected from borrowers and other payers, funds for quarterly payments to the us dept of education, funds to purchase rehabilited loans, etc., may flow through the bank accounts for these funds. 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 received 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. The foundation receives funds from the bryan foundation that the foundation disburses to the selected scholarship recipients. Loan proceeds collected from borrowers are forwarded on to the sources that funded the students loans for which payments were received.”

PART V, LINE 4:

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

Raw XML AppendixShowing 400 of 812 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 $1,854,380,645 AND ADMINISTERING NORTH CAROLINA'S NATIONAL COLLEGE SAVINGS PROGRAM WITH A PORTFOLIO VALUED AT $1,814,330,927. DURING THE TAX YEAR, STUDENTS USED THE CFNC.ORG WEBSITE TO SUBMIT 438,094 APPLICATIONS TO NC COLLEGES, AND THE FOUNDATION COMPLETED 51,914 FAFSA VERIFICATIONS FOR SCHOOL FINANCIAL AID OFFICES.
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IRS990/Desc0EDUCATIONAL LOAN PROGRAMS. AS OF JUNE 30, 2016, THE FOUNDATION WAS SERVICING 383,479 LOANS TO 123,014 BORROWERS WITH AN OUTSTANDING PRINCIPAL BALANCE OF $1,854,380,645. 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/PersonNm2ROBERT E HAMMERSLEY JR
IRS990/Form990PartVIISectionAGrp/PersonNm3CHARLES W COLE III
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/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 TEC
IRS990/Form990PartVIISectionAGrp/TitleTxt17SECURITY OFFICER/PROJ. MGR
IRS990/Form990PartVIISectionAGrp/TitleTxt18INFO. TECH. MANAGER
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IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt025821385
IRS990/GrossRentsGrp/RealAmt0465760
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
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IRS990/IndependentVotingMemberCnt09
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IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt0210526
IRS990/InformationTechnologyGrp/ProgramServicesAmt03888486
IRS990/InformationTechnologyGrp/TotalAmt04099012
IRS990/InsuranceGrp/ManagementAndGeneralAmt09126
IRS990/InsuranceGrp/ProgramServicesAmt0121647
IRS990/InsuranceGrp/TotalAmt0130773
IRS990/InvestmentIncomeGrp/ExclusionAmt012532
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt012532
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt02089792
IRS990/InvestmentsProgramRelatedGrp/EOYAmt02016269
IRS990/IRPDocumentCnt045222
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt024632311
IRS990/LandBldgEquipBasisNetGrp/BOYAmt017302918
IRS990/LandBldgEquipBasisNetGrp/EOYAmt017011057
IRS990/LandBldgEquipCostOrOtherBssAmt041643368
IRS990/LegalDomicileStateCd0NC
IRS990/LessRentalExpensesGrp/RealAmt0273068
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/NetAssetsOrFundBalancesBOYAmt036299504
IRS990/NetAssetsOrFundBalancesEOYAmt036818360
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0192692
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0192692
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt031963
IRS990/OccupancyGrp/ProgramServicesAmt0378676
IRS990/OccupancyGrp/TotalAmt0410639
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt029016
IRS990/OfficeExpensesGrp/ProgramServicesAmt01365944
IRS990/OfficeExpensesGrp/TotalAmt01394960
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01072052
IRS990/OtherAssetsTotalGrp/EOYAmt0897418
IRS990/OtherChangesInNetAssetsAmt0-37773
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0126585
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01473321
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01599906
IRS990/OtherExpensesGrp/Desc0COMPUTERIZED SERVICES
IRS990/OtherExpensesGrp/Desc1STAFF RECRUITMENT/HIRIN
IRS990/OtherExpensesGrp/Desc2STAFF TRAINING AND DEVE
IRS990/OtherExpensesGrp/Desc3PROF ORGANIZATION MEMBE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt036603
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt14442
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt24479
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt32302
IRS990/OtherExpensesGrp/ProgramServicesAmt0629474
IRS990/OtherExpensesGrp/ProgramServicesAmt182497
IRS990/OtherExpensesGrp/ProgramServicesAmt255177
IRS990/OtherExpensesGrp/ProgramServicesAmt328793
IRS990/OtherExpensesGrp/TotalAmt0666077
IRS990/OtherExpensesGrp/TotalAmt186939
IRS990/OtherExpensesGrp/TotalAmt259656
IRS990/OtherExpensesGrp/TotalAmt331095
IRS990/OtherLiabilitiesGrp/BOYAmt09047049
IRS990/OtherLiabilitiesGrp/EOYAmt09517007
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0709530
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt09117297
IRS990/OtherSalariesAndWagesGrp/TotalAmt09826827
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt062489
IRS990/PayrollTaxesGrp/ProgramServicesAmt0727315
IRS990/PayrollTaxesGrp/TotalAmt0789804
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt026787
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0311773
IRS990/PensionPlanContributionsGrp/TotalAmt0338560
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0555000
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0555000
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01710707
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IRS990/PrincipalOfficerNm0WENDY H MCALISTER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/BusinessCd3611710
IRS990/ProgramServiceRevenueGrp/Desc0EDUCATIONAL LOAN PROGRAMS
IRS990/ProgramServiceRevenueGrp/Desc1INFORMATION DISSEMINATION INITIAT
IRS990/ProgramServiceRevenueGrp/Desc2NC529 COLLEGE SAVINGS PROGRAM
IRS990/ProgramServiceRevenueGrp/Desc3SCHOOL SERVICES PROGRAM
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt011935045
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt14670848
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt22975521
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt32242463
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt011935045
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt14670848
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt22975521
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt32242463
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 114,060 CALLS IN THE YEAR ENDED JUNE 30, 2016. THE PROGRAM PROVIDED 2,589 SPECIFIC PROGRAMS TO COLLEGES, K-12 SCHOOLS AND BUSINESSES IN THE YEAR ENDED JUNE 30, 2016. REPLIES WERE SENT TO 4,431 E-MAIL INQUIRIES. PROSPECTIVE STUDENTS SUBMITTED 438,094 APPLICATIONS TO NC SCHOOLS USING THE WEBSITE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt04478970
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt04670848
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 132,578 ACCOUNTS FOR 122,971 BENEFICIARIES AND A VALUE OF $1,814,330,927 AT JUNE 30, 2106. THE PROGRAM RECEIVED CONTRIBUTIONS OF $205,626,079 AND DISTRIBUTED WITHDRAWALS OF $111,577,841 FOR THE YEAR ENDED JUNE 30, 2016.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt02776521
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt02975521
IRS990/ProgSrvcAccomActyOtherGrp/Desc0SCHOOL SERVICES PROGRAM, NC COMMUNITY COLLEGE GRANT PROGRAM, UNC NEED-BASED GRANT PROGRAM, NC EDUCATION LOTTERY SCHOLARSHIP PROGRAM, NC NEED-BASED SCHOLARSHIP PROGRAM, EX$EL 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/ExpenseAmt06120843
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt065710
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt05761679
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt053092
IRS990/PYInvestmentIncomeAmt06305

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$51,469,402
Liabilities
$14,651,042
Net assets
$36,818,360
Revenue
$25,548,317
Expenses
$24,991,688
Net income
$556,629
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