Civic Intelligence

College Foundation Inc.

990 • Fiscal year 2017 • EIN 56-6046937

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 02, 2018

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

46th percentile

0.26x

Higher debt load relative to assets than 46% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

56th percentile

0.51x

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

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

50th percentile

3.2%

Higher net margin than 50% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

26th percentile

$218,814

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

23rd percentile

-0.4%

Faster asset growth than 23% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

45th percentile

3.9%

Faster revenue growth than 45% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets46th percentile

Assets

Down

$51,277,043

Down $192,359 (-0.4%) from 2016

Net Assets

Up

$37,793,231

Up $974,871 (+2.6%) from 2016

Liabilities

Down

$13,483,812

Down $1,167,230 (-8.0%) from 2016

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin50th percentile

Revenue

Up

$26,538,744

Up $990,427 (+3.9%) from 2016

Expenses

Up

$25,688,254

Up $696,566 (+2.8%) from 2016

Net Income

Up

$850,490

Up $293,861 (+53%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth23rd 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

2017

Assets$51,277,043
Liabilities$13,483,812
Net Assets$37,793,231
Open 2017 Filing

Operations Trend

Revenue Growth45th 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

2017

Revenue$26,538,744
Expenses$25,688,254
Net Income$850,490
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 2, 2018
Return Version
2016v3.0
Gross Receipts
$26,777,958
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 $1,613,673,806 and administering north carolina's national college savings program with a portfolio valued at $2,072,517,281. During the tax year, students used the cfnc.org website to submit 409,966 applications to nc colleges, the foundation completed 57,495 fafsa verifications for school financial aid offices, 85,958 students used the residency determination service, and the foundation disbursed $254,992,983 in state grants.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$22,034,057$21,406,246▼ $627,811
Land, Buildings, and Equipment, Net$17,011,057$17,238,128▲ $227,071
Accounts Receivable$7,254,942$7,031,293▼ $223,649
Prepaid Expenses and Deferred Charges$2,216,158$2,543,314▲ $327,156
Investments Program Related$2,016,269$1,932,867▼ $83,402
Cash and Non-Interest-Bearing Accounts$39,501$40,909▲ $1,408
Total Assets$51,469,402$51,277,043▼ $192,359
Other Assets Total$897,418$1,084,286▲ $186,868
Liabilities
Other Liabilities$9,517,007$8,979,575▼ $537,432
Escrow Account Liability$2,577,795$2,434,272▼ $143,523
Accounts Payable and Accrued Expenses$2,556,240$2,069,965▼ $486,275
Total Liabilities$14,651,042$13,483,812▼ $1,167,230
Net Assets / Fund Balance
Unrestricted Net Assets$36,259,702$37,234,544▲ $974,842
Permanently Rstr Net Assets$555,000$555,000→ $0
Temporarily Rstr Net Assets$3,658$3,687▲ $29
Total Net Assets Fund Balance$36,818,360$37,793,231▲ $974,871
Total Liabilities and Net Assets / Fund Balance$51,469,402$51,277,043▼ $192,359

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,906,079$12,334,909$15,240,988
Buildings$10,396,653$6,480,806$12,709,548
Equipment$1,671,206$7,221,810$8,893,016
Land$2,264,190-$1,302,882

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$4,810,315-▲ $36,852-$4,778,815
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
Compensation and Service Providers
Top Officer Pay26th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Wendy H McalisterPresident & CEOFT$191,010$27,804$218,814
Patrick J KaiserVice PresidentFT$168,768$35,473$204,241
Shera J HubeVice PresidentFT$152,475$21,949$174,424
Karl D Vass JrSecretary & TreasurerFT$144,456$18,837$163,293
Martin FlournoryWeb Development & Cfnc TecFT$126,922$26,504$153,426
Rose Mary StelmaVice PresidentFT$133,117$20,028$153,145
Richard H FerneyhoughIt Development ManagerFT$129,164$19,268$148,432
Daniel SullivanSecurity Officer/proj. MgrFT$117,932$26,599$144,531
Dawn S HarrisIt Operations ManagerFT$125,206$17,445$142,651
Tom AugustineInfo. Tech. ManagerFT$111,831$16,430$128,261

Board Members and Trustees

NameTitle
Charles J StewartChairman of the Board
Robert E Hammersley JrTreasurer/vice Chairman of the Board
Robert F LoweVice Chairman of the Board
A Hope WilliamsTrustee
Brian K ReidTrustee
Charles W Cole IiiTrustee
Hilda Pinnix-raglandTrustee
Jennifer HaygoodTrustee
M E Valentine JrTrustee
Tate C JohnsonTrustee
Hal S JohnsonTrustee/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Computer Design & Integration SeIt Maint/support/tech Services1616 CAMDEN RD SUITE 200, Charlotte, NC 28203$429,789
Transvoyant LLCIt Project Management5845 RICHMOND HWY SUITE 600, Alexandria, VA 22303$349,670
Robert HinesIt Project Management209 DUTCH HILL RD, Holly Springs, NC 27540$156,284
Koonce Wooten & Haywood LLPAuditing4060 BARRETT DRIVE, Raleigh, NC 27609$152,280
Revenue and Support

Revenue Composition

Contributions and Grants
$2,800
Program Service Revenue
$26,288,407
Investment Income
$13,839
Other Revenue
$233,698
All Other Contributions
$2,800
Change in Net Assets
$850,490

Audited Revenue Reconciliation

Revenue per Audited Statements
$26,538,744
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$26,538,744
Total Revenue per Form 990
$26,538,744
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$14,175,985
Other Expenses$11,441,117
Grants and Similar Amounts Paid$71,152
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$9,650,832$752,194-$10,403,026
Information Technology$3,835,292$562,231-$4,397,523
Advertising$1,785,373--$1,785,373
Other Employee Benefits$1,588,759$138,422-$1,727,181
Depreciation Depletion$1,522,530$132,652-$1,655,182
Office Expenses$1,196,945$26,877-$1,223,822
Fees for Services Other$902,488$4,470-$906,958
Current Officers, Directors, Trustees, and Key Employees$828,808$65,420-$894,228
Payroll Taxes$747,514$65,128-$812,642
Occupancy$360,184$30,715-$390,899
Pension Plan Contributions$311,746$27,162-$338,908
Fees for Services Accounting$59,276$71,289-$130,565
Insurance$117,459$8,689-$126,148
Travel$120,022$3,636-$123,658
Grants to Domestic Individuals$71,152--$71,152
Other Expenses$25,909$2,273-$25,909
Fees for Service Investment Mgmnt Fees$12,000$12,000-$24,000
All Other Expenses$7,697$2,196-$9,893
Conferences and Meetings$3,870--$3,870
Fees for Services Legal-$978-$978
Total Functional Expenses$23,739,201$1,949,053$0$25,688,254

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$25,688,254
Total Expenses per Audited Statements$25,688,254
Total Expenses per Form 990$25,688,254
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$5,531,624
Contingency for Uninsured Loans$3,300,000
Deferred Compensation Payable$147,951
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

“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 11B

“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
2018-04-02
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
213
Volunteers
11

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 III, Line 2

“Residency determination service. In december of 2016, the foundation began its phased launch of an online service, found at www.ncresidency.org, to determine residency for tuition purposes and eligibility for state grants. Once the service to determine undergraduate residency is fully operational, it will be expanded to include residency determination for graduate and professional students. The foundation administers this program as agent for the nc state education assistance authority.”

FORM 990, PART XI, LINE 9:

“Postretirement-related changes other than net periodic post retirement cost 124,381.”

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 820 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 $1,613,673,806 AND ADMINISTERING NORTH CAROLINA'S NATIONAL COLLEGE SAVINGS PROGRAM WITH A PORTFOLIO VALUED AT $2,072,517,281. DURING THE TAX YEAR, STUDENTS USED THE CFNC.ORG WEBSITE TO SUBMIT 409,966 APPLICATIONS TO NC COLLEGES, THE FOUNDATION COMPLETED 57,495 FAFSA VERIFICATIONS FOR SCHOOL FINANCIAL AID OFFICES, 85,958 STUDENTS USED THE RESIDENCY DETERMINATION SERVICE, AND THE FOUNDATION DISBURSED $254,992,983 IN STATE GRANTS.
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IRS990/Desc0EDUCATIONAL LOAN PROGRAMS. AS OF JUNE 30, 2017, THE FOUNDATION WAS SERVICING 329,934 LOANS TO 105,503 BORROWERS WITH AN OUTSTANDING PRINCIPAL BALANCE OF $1,613,673,806. 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/FeesForServicesLegalGrp/ManagementAndGeneralAmt0978
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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/PersonNm9JENNIFER HAYGOOD
IRS990/Form990PartVIISectionAGrp/PersonNm10BRIAN K REID
IRS990/Form990PartVIISectionAGrp/PersonNm11WENDY H MCALISTER
IRS990/Form990PartVIISectionAGrp/PersonNm12KARL D VASS JR
IRS990/Form990PartVIISectionAGrp/PersonNm13SHERA J HUBE
IRS990/Form990PartVIISectionAGrp/PersonNm14PATRICK J KAISER
IRS990/Form990PartVIISectionAGrp/PersonNm15ROSE MARY STELMA
IRS990/Form990PartVIISectionAGrp/PersonNm16RICHARD H FERNEYHOUGH
IRS990/Form990PartVIISectionAGrp/PersonNm17DAWN S HARRIS
IRS990/Form990PartVIISectionAGrp/PersonNm18MARTIN FLOURNORY
IRS990/Form990PartVIISectionAGrp/PersonNm19DANIEL SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm20TOM AUGUSTINE
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt17125206
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt18127453
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt19117932
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20111831
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER/VICE CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt12SECRETARY & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt16IT DEVELOPMENT MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt17IT OPERATIONS MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt18WEB DEVELOPMENT & CFNC TEC
IRS990/Form990PartVIISectionAGrp/TitleTxt19SECURITY OFFICER/PROJ. MGR
IRS990/Form990PartVIISectionAGrp/TitleTxt20INFO. TECH. MANAGER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01955
IRS990/FormerOfcrEmployeesListedInd00
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IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt09
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt071152
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt071152
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt026777958
IRS990/GrossRentsGrp/RealAmt0472912
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt09
IRS990/IndivRcvdGreaterThan100KCnt014
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt0562231
IRS990/InformationTechnologyGrp/ProgramServicesAmt03835292
IRS990/InformationTechnologyGrp/TotalAmt04397523
IRS990/InsuranceGrp/ManagementAndGeneralAmt08689
IRS990/InsuranceGrp/ProgramServicesAmt0117459
IRS990/InsuranceGrp/TotalAmt0126148
IRS990/InvestmentIncomeGrp/ExclusionAmt013839
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt013839
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt02016269
IRS990/InvestmentsProgramRelatedGrp/EOYAmt01932867
IRS990/IRPDocumentCnt040221
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt026037525
IRS990/LandBldgEquipBasisNetGrp/BOYAmt017011057
IRS990/LandBldgEquipBasisNetGrp/EOYAmt017238128
IRS990/LandBldgEquipCostOrOtherBssAmt043275653
IRS990/LegalDomicileStateCd0NC
IRS990/LessRentalExpensesGrp/RealAmt0239214
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/NetAssetsOrFundBalancesBOYAmt036818360
IRS990/NetAssetsOrFundBalancesEOYAmt037793231
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0233698
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0233698
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt030715
IRS990/OccupancyGrp/ProgramServicesAmt0360184
IRS990/OccupancyGrp/TotalAmt0390899
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt026877
IRS990/OfficeExpensesGrp/ProgramServicesAmt01196945
IRS990/OfficeExpensesGrp/TotalAmt01223822
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0897418
IRS990/OtherAssetsTotalGrp/EOYAmt01084286
IRS990/OtherChangesInNetAssetsAmt0124381
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0138422
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01588759
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01727181
IRS990/OtherExpensesGrp/Desc0COMPUTERIZED SERVICES
IRS990/OtherExpensesGrp/Desc1STAFF TRAINING AND DEVE
IRS990/OtherExpensesGrp/Desc2PROF ORGANIZATION MEMBE
IRS990/OtherExpensesGrp/Desc3SERVICING COSTS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt037399
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt15322
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22273
IRS990/OtherExpensesGrp/ProgramServicesAmt0502146
IRS990/OtherExpensesGrp/ProgramServicesAmt161115
IRS990/OtherExpensesGrp/ProgramServicesAmt228084
IRS990/OtherExpensesGrp/ProgramServicesAmt325909
IRS990/OtherExpensesGrp/TotalAmt0539545
IRS990/OtherExpensesGrp/TotalAmt166437
IRS990/OtherExpensesGrp/TotalAmt230357
IRS990/OtherExpensesGrp/TotalAmt325909
IRS990/OtherLiabilitiesGrp/BOYAmt09517007
IRS990/OtherLiabilitiesGrp/EOYAmt08979575
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0752194
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt09650832
IRS990/OtherSalariesAndWagesGrp/TotalAmt010403026
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt065128
IRS990/PayrollTaxesGrp/ProgramServicesAmt0747514
IRS990/PayrollTaxesGrp/TotalAmt0812642
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt027162
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0311746
IRS990/PensionPlanContributionsGrp/TotalAmt0338908
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0555000
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0555000
IRS990/PoliticalCampaignActyInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02543314
IRS990/PrincipalOfficerNm0WENDY H MCALISTER
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/BusinessCd3611710
IRS990/ProgramServiceRevenueGrp/BusinessCd4611710
IRS990/ProgramServiceRevenueGrp/Desc0EDUCATIONAL LOAN PROGRAMS
IRS990/ProgramServiceRevenueGrp/Desc1INFORMATION DISSEMINATION INITIAT
IRS990/ProgramServiceRevenueGrp/Desc2RESIDENCY DETERMINATION
IRS990/ProgramServiceRevenueGrp/Desc3NC529 COLLEGE SAVINGS PROGRAM
IRS990/ProgramServiceRevenueGrp/Desc4SCHOOL SERVICES PROGRAM
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt011908396
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13696899
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt23176335
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt33049186
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt42139162
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt011908396
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13696899
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23176335
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt33049186
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt42139162
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 124,072 CALLS IN THE YEAR ENDED JUNE 30, 2017. THE PROGRAM PROVIDED 2,519 SPECIFIC PROGRAMS TO COLLEGES, K-12 SCHOOLS AND BUSINESSES IN THE YEAR ENDED JUNE 30, 2017. REPLIES WERE SENT TO 6,994 E-MAIL INQUIRIES. PROSPECTIVE STUDENTS SUBMITTED 409,966 APPLICATIONS TO NC SCHOOLS USING THE WEBSITE.

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$51,277,043
Liabilities
$13,483,812
Net assets
$37,793,231
Revenue
$26,538,744
Expenses
$25,688,254
Net income
$850,490
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