Civic Intelligence

College Foundation Inc.

990 • Fiscal year 2018 • EIN 56-6046937

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 22, 2019

Organization ProfileWWW.CFNC.ORG

View Organization Page

PO Box 41966Raleigh, NC 27629-1966

(919) 834-2893

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$51,292,354

Flat from 2018

Net Assets

Flat

$39,307,927

Flat from 2018

Liabilities

Flat

$11,984,427

Flat from 2018

Revenue And Expenses

Revenue

Flat

$28,415,354

Flat from 2018

Expenses

Flat

$27,172,267

Flat from 2018

Net Income

Flat

$1,243,087

Flat from 2018

Historical Trend

Balance Sheet Trend

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 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

2018

Assets$51,292,354
Liabilities$11,984,427
Net Assets$39,307,927
Open 2018 Filing

Operations Trend

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 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

2018

Revenue$28,415,354
Expenses$27,172,267
Net Income$1,243,087
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 22, 2019
Return Version
2017v2.3
Gross Receipts
$31,607,899
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 $1,393,303,523 and administering north carolina's national college savings program with a portfolio valued at $2,303,207,781. During the tax year, students used the cfnc.org website to submit 386,362 applications to nc colleges, the foundation completed 51,105 fafsa verifications for school financial aid offices, 344,512 students used the residency determination service, and the foundation disbursed $254,302,667 in state grants.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$21,406,246$19,283,857▼ $2,122,389
Land, Buildings, and Equipment, Net$17,238,128$13,962,666▼ $3,275,462
Accounts Receivable$7,031,293$6,436,160▼ $595,133
Investments in Publicly Traded Securities-$5,381,373-
Prepaid Expenses and Deferred Charges$2,543,314$2,947,867▲ $404,553
Investments Program Related$1,932,867$1,864,261▼ $68,606
Cash and Non-Interest-Bearing Accounts$40,909$2,166▼ $38,743
Total Assets$51,277,043$51,292,354▲ $15,311
Other Assets Total$1,084,286$1,414,004▲ $329,718
Liabilities
Other Liabilities$8,979,575$7,675,457▼ $1,304,118
Escrow Account Liability$2,434,272$2,870,410▲ $436,138
Accounts Payable and Accrued Expenses$2,069,965$1,438,560▼ $631,405
Total Liabilities$13,483,812$11,984,427▼ $1,499,385
Net Assets / Fund Balance
Unrestricted Net Assets$37,234,544$38,748,783▲ $1,514,239
Permanently Rstr Net Assets$555,000$555,000→ $0
Temporarily Rstr Net Assets$3,687$4,144▲ $457
Total Net Assets Fund Balance$37,793,231$39,307,927▲ $1,514,696
Total Liabilities and Net Assets / Fund Balance$51,277,043$51,292,354▲ $15,311

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,448,794$13,239,335$15,688,129
Buildings$8,374,357$4,686,236$13,060,593
Equipment$1,836,633$5,996,297$7,832,930
Land$1,302,882-$1,302,882

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$4,778,815$734,802▲ $50,496-$5,480,668
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Wendy H McalisterPresident & CEOFT$202,199$27,861$230,060
Patrick J KaiserVice PresidentFT$173,083$29,331$202,414
Karl D Vass JrSecretary & TreasurerFT$143,691$21,121$164,812
Rose Mary StelmaVice PresidentFT$139,234$20,030$159,264
Martin FlournoryWeb Development & Cfnc TecFT$131,352$23,860$155,212
Richard H FerneyhoughIt Development ManagerFT$131,777$20,228$152,005
Dawn S HarrisIt Operations ManagerFT$129,522$18,526$148,048
Daniel SullivanSecurity Officer/proj. MgrFT$122,980$22,319$145,299
Tom AugustineInfo. Tech. ManagerFT$114,034$17,750$131,784
Laura MorganVice PresidentFT$97,028$19,358$116,386
Shera J HubeVice PresidentPT$100,196$12,435$112,631

Board Members and Trustees

NameTitle
Charles J StewartChairman of the Board
Robert E Hammersley JrVice Chairman of Board
A Hope WilliamsTrustee
Brian K ReidTrustee
Charles W Cole IiiTrustee
Jennifer HaygoodTrustee
M E Valentine JrTrustee
Tate C JohnsonTrustee
Hal S JohnsonTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Roth Staffing Companies LPTemporary Personnel333 CITY BLVD WEST 100, Orange, CA 92868$191,423
Koonce Wooten & Haywood LLPAuditing4060 BARRETT DRIVE, Raleigh, NC 27609$122,566
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$26,796,990
Investment Income
$1,584,673
Other Revenue
$33,691
Change in Net Assets
$1,243,087

Audited Revenue Reconciliation

Revenue per Audited Statements
$28,414,346
Revenue Not Reported on Financial Statements
$1,008
Revenue Not Reported on Form 990
$-20,856
Total Revenue per Audited Statements
$28,393,490
Total Revenue per Form 990
$28,415,354
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$15,679,954
Other Expenses$11,408,868
Grants and Similar Amounts Paid$83,445
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$10,568,516$898,799-$11,467,315
Information Technology$3,925,248$373,707-$4,298,955
Other Employee Benefits$1,846,106$157,003-$2,003,109
Depreciation Depletion$1,778,336$151,239-$1,929,575
Advertising$1,868,278--$1,868,278
Office Expenses$1,048,532$23,988-$1,072,520
Current Officers, Directors, Trustees, and Key Employees$876,182$74,515-$950,697
Payroll Taxes$822,929$69,986-$892,915
Fees for Services Other$771,030$6,679-$777,709
Occupancy$364,236$30,364-$394,600
Pension Plan Contributions$337,238$28,680-$365,918
Fees for Services Accounting$88,909$60,399-$149,308
Travel$128,585$3,498-$132,083
Insurance$121,356$8,524-$129,880
Grants to Domestic Individuals$83,445--$83,445
Other Expenses$30,221$2,400-$32,621
Fees for Services Legal$25,103$2,401-$27,504
Fees for Service Investment Mgmnt Fees$12,000$6,669-$18,669
All Other Expenses$4,857$12,719-$17,576
Conferences and Meetings$3,440--$3,440
Total Functional Expenses$25,213,484$1,958,783$0$27,172,267

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$27,172,267
Expenses per Audited Statements$27,171,259
Total Expenses per Audited Statements$27,171,259
Expenses Not Reported on Financial Statements$1,008
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$4,690,952
Contingency for Uninsured Loans$2,800,000
Deferred Compensation Payable$184,505
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 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. Responses on each certification are reviewed and appropriate action taken if necessary based upon the policy.”

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. Jobs and related salary ranges for officers and key employees are compared annually against those provided by organizations located principally in central and eastern north carolina and those reported on form 990 by peers. 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
2019-03-22
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
223
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 III, Line 2

“In the spring of 2018, the foundation began disbursing and servicing n.c. Assist loans. The n.c. State education assistance authority sets both the rules and the interest rates for these loans which help bridge the gap between the cost of attendance and other financial aid for students who are n.c. Residents attending an eligible non-profit title iv institution anywhere or nonresident students attending an eligible non-profit title iv institution in north carolina or for the parents of such students.”

FORM 990, PART XI, LINE 9:

“Postretirement-related changes other than net periodic post retirement cost 292,465.”

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 in servicing education loans for the nc state education assistance authority, banks, and special investors. 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 student loans for which payments were received.”

PART V, LINE 4:

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

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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 $1,393,303,523 AND ADMINISTERING NORTH CAROLINA'S NATIONAL COLLEGE SAVINGS PROGRAM WITH A PORTFOLIO VALUED AT $2,303,207,781. DURING THE TAX YEAR, STUDENTS USED THE CFNC.ORG WEBSITE TO SUBMIT 386,362 APPLICATIONS TO NC COLLEGES, THE FOUNDATION COMPLETED 51,105 FAFSA VERIFICATIONS FOR SCHOOL FINANCIAL AID OFFICES, 344,512 STUDENTS USED THE RESIDENCY DETERMINATION SERVICE, AND THE FOUNDATION DISBURSED $254,302,667 IN STATE GRANTS.
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1643.00
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IRS990/Form990PartVIISectionAGrp/PersonNm0CHARLES J STEWART
IRS990/Form990PartVIISectionAGrp/PersonNm1ROBERT E HAMMERSLEY JR
IRS990/Form990PartVIISectionAGrp/PersonNm2HAL S JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm3CHARLES W COLE III
IRS990/Form990PartVIISectionAGrp/PersonNm4JENNIFER HAYGOOD
IRS990/Form990PartVIISectionAGrp/PersonNm5TATE C JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm6BRIAN K REID
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/PersonNm14LAURA MORGAN
IRS990/Form990PartVIISectionAGrp/PersonNm15RICHARD H FERNEYHOUGH
IRS990/Form990PartVIISectionAGrp/PersonNm16DAWN S HARRIS
IRS990/Form990PartVIISectionAGrp/PersonNm17MARTIN FLOURNORY
IRS990/Form990PartVIISectionAGrp/PersonNm18DANIEL SULLIVAN
IRS990/Form990PartVIISectionAGrp/PersonNm19TOM AUGUSTINE
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRMAN OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN OF BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
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/TitleTxt14VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt15IT DEVELOPMENT MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt16IT OPERATIONS MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt17WEB DEVELOPMENT & CFNC TEC
IRS990/Form990PartVIISectionAGrp/TitleTxt18SECURITY OFFICER/PROJ. MGR
IRS990/Form990PartVIISectionAGrp/TitleTxt19INFO. TECH. MANAGER
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IRS990/InformationTechnologyGrp/TotalAmt04298955
IRS990/InsuranceGrp/ManagementAndGeneralAmt08524
IRS990/InsuranceGrp/ProgramServicesAmt0121356
IRS990/InsuranceGrp/TotalAmt0129880
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IRS990/IRPDocumentW2GCnt00
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IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt00
IRS990/LessRentalExpensesGrp/RealAmt046309
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/NetAssetsOrFundBalancesBOYAmt037793231
IRS990/NetAssetsOrFundBalancesEOYAmt039307927
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt01522832
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt01522832
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt033691
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt033691
IRS990/NetUnrelatedBusTxblIncmAmt0632
IRS990/NetUnrlzdGainsLossesInvstAmt0-20856
IRS990/NondeductibleContributionsInd00
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IRS990/OccupancyGrp/ProgramServicesAmt0364236
IRS990/OccupancyGrp/TotalAmt0394600
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt023988
IRS990/OfficeExpensesGrp/ProgramServicesAmt01048532
IRS990/OfficeExpensesGrp/TotalAmt01072520
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01084286
IRS990/OtherAssetsTotalGrp/EOYAmt01414004
IRS990/OtherChangesInNetAssetsAmt0292465
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0157003
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01846106
IRS990/OtherEmployeeBenefitsGrp/TotalAmt02003109
IRS990/OtherExpensesGrp/Desc0COMPUTERIZED SERVICES
IRS990/OtherExpensesGrp/Desc1STAFF RECRUITMENT/HIRIN
IRS990/OtherExpensesGrp/Desc2STAFF TRAINING AND DEVE
IRS990/OtherExpensesGrp/Desc3PROF ORGANIZATION MEMBE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt041397
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12601
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt23215
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt32400
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IRS990/OtherExpensesGrp/ProgramServicesAmt151314
IRS990/OtherExpensesGrp/ProgramServicesAmt240601
IRS990/OtherExpensesGrp/ProgramServicesAmt330221
IRS990/OtherExpensesGrp/TotalAmt0458419
IRS990/OtherExpensesGrp/TotalAmt153915
IRS990/OtherExpensesGrp/TotalAmt243816
IRS990/OtherExpensesGrp/TotalAmt332621
IRS990/OtherLiabilitiesGrp/BOYAmt08979575
IRS990/OtherLiabilitiesGrp/EOYAmt07675457
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0898799
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt010568516
IRS990/OtherSalariesAndWagesGrp/TotalAmt011467315
IRS990/OtherWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt069986
IRS990/PayrollTaxesGrp/ProgramServicesAmt0822929
IRS990/PayrollTaxesGrp/TotalAmt0892915
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt028680
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0337238
IRS990/PensionPlanContributionsGrp/TotalAmt0365918
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0555000
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0555000
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt02543314
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt02947867
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/RelatedOrExemptFuncIncomeAmt012078022
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13919451
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt23536209
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt32952079
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt42098671
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt012078022
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13919451
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23536209
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt32952079
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt42098671
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 106,729 CALLS IN THE YEAR ENDED JUNE 30, 2018. THE PROGRAM PROVIDED 2,439 SPECIFIC PROGRAMS TO COLLEGES, K-12 SCHOOLS AND BUSINESSES IN THE YEAR ENDED JUNE 30, 2018. REPLIES WERE SENT TO 4,490 E-MAIL INQUIRIES. PROSPECTIVE STUDENTS SUBMITTED 386,362 APPLICATIONS TO NC SCHOOLS USING THE WEBSITE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03633031
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt03919451
IRS990/ProgSrvcAccomActy3Grp/Desc0RESIDENCY DETERMINATION SERVICE (RDS). THE FOUNDATION ACTS AS AGENT FOR THE NC STATE EDUCATION ASSISTANCE AUTHORITY IN THE ADMINISTRATION OF THIS ONLINE SERVICE TO DETERMINE RESIDENCY FOR TUITION PURPOSES AND ELIGIBILITY FOR STATE GRANTS. DURING THE YEAR ENDED JUNE 30, 2018, 344,512 STUDENTS USED THE SERVICE, WITH THE FOUNDATION PROCESSING 347,164 INITIAL CONSIDERATION REQUESTS, 43,118 RECONSIDERATION REQUESTS, AND 11,588 APPEAL REQUESTS. THE RDS CALL CENTER RECEIVED 85,969 CALLS DURING THE YEAR ENDED JUNE 30, 2018.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt03394560
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt03536209
IRS990/ProgSrvcAccomActyOtherGrp/Desc0NC529 COLLEGE SAVINGS PROGRAM, SCHOOL 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/ExpenseAmt07316023
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt083445

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$51,292,354
Liabilities
$11,984,427
Net assets
$39,307,927
Revenue
$28,415,354
Expenses
$27,172,267
Net income
$1,243,087
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
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