Liabilities / Assets
92nd percentile
Higher debt load relative to assets than 92% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.86x
Liabilities / Revenue
97th percentile
Higher debt load relative to revenue than 97% of similar nonprofits.
Net Margin
4th percentile
Higher net margin than 4% of similar nonprofits.
Top Officer Pay
40th percentile
Higher top officer pay than 40% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
24th percentile
Faster asset growth than 24% of similar nonprofits.
Revenue Growth
2nd percentile
Faster revenue growth than 2% of similar nonprofits.
Balance Sheet
Assets
Up$2,422,007
Up $922,155 (+61%) from 2022
Net Assets
Down$341,333
Down $152,625 (-31%) from 2022
Liabilities
Up$2,080,674
Up $1,074,780 (+107%) from 2022
Revenue And Expenses
Revenue
Down$421,371
Down $383,979 (-48%) from 2022
Expenses
Up$732,441
Up $421,049 (+135%) from 2022
Net Income
Down-$311,070
Down $805,028 (-163%) from 2022
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2023 to Jun 30, 2024
- Signed
- Jan 16, 2025
- Return Version
- 2023v6.0
- Gross Receipts
- $426,657
Mission and Program Overview
Mission
NC Tech Paths is a non-profit dedicated to helping our rural neighbors gain access to technology jobs and remain in their home region. Our vision is to establish Northwest North Carolina, with Wilkes County at its epicenter, as a nationally recognized hub for rural tech workers.
NC Tech Paths is a non-profit dedicated to helping our rural neighbors gain access to technology jobs and remain in their home region.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $2,222,523 | $2,141,571 | ▼ $80,952 |
| Loans From Officers Directors | $1,865,559 | $2,069,330 | ▲ $203,771 |
| Rtn Earn Endowment Incm Other Fnds | $652,403 | $341,333 | ▼ $311,070 |
| Cash and Non-Interest-Bearing Accounts | $218,434 | $274,011 | ▲ $55,577 |
| Accounts Receivable | $79,738 | - | - |
| Prepaid Expenses and Deferred Charges | - | $5,375 | - |
| Total Assets | $2,521,745 | $2,422,007 | ▼ $99,738 |
| Other Assets Total | $1,050 | $1,050 | → $0 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $678 | $11,344 | ▲ $10,666 |
| Other Liabilities | $3,105 | - | - |
| Total Liabilities | $1,869,342 | $2,080,674 | ▲ $211,332 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $652,403 | $341,333 | ▼ $311,070 |
| Total Liabilities and Net Assets / Fund Balance | $2,521,745 | $2,422,007 | ▼ $99,738 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Leasehold Improvements | $1,302,841 | $41,271 | $1,344,112 |
| Buildings | $593,660 | $30,802 | $624,462 |
| Other Land Buildings | $186,860 | $58,604 | $245,464 |
| Equipment | $58,210 | $18,190 | $76,400 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Albert Lee Herring II | Chair |
| Morgan Francis | Director |
| William C Warden Jr | Secretary/Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $141,450
- Program Service Revenue
- $207,401
- Investment Income
- $786
- Other Revenue
- $71,734
- All Other Contributions
- $41,450
- Change in Net Assets
- $-311,070
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $552,588 |
| Salaries, Compensation, and Employee Benefits | $157,593 |
| Grants and Similar Amounts Paid | $22,260 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Expenses | $232,000 | - | - | $232,000 |
| Other Salaries and Wages | $112,062 | $19,775 | - | $131,837 |
| Depreciation Depletion | $68,810 | $12,143 | - | $80,953 |
| Fees for Services Management | $38,250 | $6,750 | - | $45,000 |
| Interest | $35,014 | $6,179 | - | $41,193 |
| Occupancy | $35,583 | - | - | $35,583 |
| Fees for Services Accounting | $28,945 | $5,108 | - | $34,053 |
| Office Expenses | $25,450 | $4,491 | - | $29,941 |
| Grants to Domestic Individuals | $22,260 | - | - | $22,260 |
| Other Employee Benefits | $12,911 | $2,278 | - | $15,189 |
| Advertising | $10,604 | $1,871 | - | $12,475 |
| Information Technology | $10,220 | $1,803 | - | $12,023 |
| Payroll Taxes | $8,982 | $1,585 | - | $10,567 |
| Fees for Services Other | $9,543 | - | - | $9,543 |
| Insurance | $5,349 | $944 | - | $6,293 |
| Fees for Services Legal | $5,348 | $944 | - | $6,292 |
| All Other Expenses | $3,818 | $1,172 | - | $4,990 |
| Travel | $1,912 | $337 | - | $2,249 |
| Total Functional Expenses | $667,061 | $65,380 | $0 | $732,441 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $1,865,559 | $2,069,330 | ▲ $203,771 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Federal income taxes | - |
| Employee Benefits Payable | - |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Backup withholding compliance
- Yes
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- 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, Line 12C
“In connection with any actual or possible conflicts of interest, an interested person must disclose the existence of his or her financial interest and all material facts to the Directors and members of Committees with Board delegated powers considering the proposed transaction or arrangement. The Chairperson of the Board or Committee shall, if appropriate, appoint a disinterested person or Committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the Board or Committee shall determine whether the Corporation can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the Board or Committee shall determine by a majority vote of the disinterested Directors whether the transaction or arrangement is in the Corporations best interest and for its own benefit and whether the transaction is fair and reasonable to the Corporation and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination. The minutes of the Board and all Committee with Board-delegated powers shall contain the names of the persons who disclosed or otherwise were found to have a financial interest in connection with an actual or possible conflict of interest, the nature of the financial interest, any action taken to determine whether a conflict of interest was present, and the Boards or Committees decision as to whether a conflict of interest in fact existed and the names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection there with.”
Form 990, Part VI, Line 19
“Governing documents, conflict of interest policy, and financial statements are available to the public as requested”
Filing and Contact Details
Filer
- Filer Name
- NC TechPaths Inc
- EIN
- 87-2625452
- Address
- PO Box 118 STE, Wilkesboro, NC 28697
Signing Officer
- Name
- Albert Lee Herring II
- Title
- Board Chair
- Signed
- 2025-01-16
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Albert Lee Herring II
- Formed
- 2021
- Legal Domicile
- Nc
- Voting Board Members
- 3
- Independent Board Members
- 3
- Employees
- 6
- Volunteers
- 3
Preparer
- Firm
- Outfitters4 Inc
- Address
- 717 Coliseum Dr NW, Winston Salem, NC 27106
- Preparer
- Brittany Emery
- Phone
- 8889299499
Supplemental Narrative
Additional Explanations
Form 990, Part I, Line 11B
“The tax return is provided to the Board members prior to the annual meeting. Any concerns or questions are addressed and rectified, if necessary, prior to the filling the return.”
Form 990, Part III, Line 3
“As of October 2023, the talent portion of the programming was transitioned to Wilkes Community College.”
Raw XML AppendixShowing 400 of 408 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/Desc | 0 | TALENT NC Tech Paths works at the intersection of students, education, and industry for rural communities. Our program model is to recruit high-potential talent interested in careers in software development, network management, cyber security and IT support, coach and assist the learners on pathways to a degree and/or industry credential, and then prepare them for job placement and career success. As of October 2023, the talent portion of the programming was transitioned to Wilkes Community College. |
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| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | MASTHEAD NC Tech Paths purchased a building in downtown North Wilkesboro to serve as the organizations first Rural Tech Outpost. In addition to serving as a magnetic workspace, the Masthead provides a downtown convening spot for individuals interested in technology and entrepreneurship, hosting hands-on training designed to build a robust pipeline of STEM talent in the greater Wilkes area. |
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| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | false |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 77999 |
| IRS990/RoyaltiesGrp/TotalAmt | 0 | 0 |
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| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 341333 |
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| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 800100 |
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| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt | 0 | 786 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 786 |
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| IRS990ScheduleA/OtherIncome170Grp/TotalAmt | 0 | 100782 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY170Pct | 0 | 0.00000 |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 2004192 |
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| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 2004192 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 2105760 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
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| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
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| IRS990ScheduleD/OtherSecuritiesGrp/Desc | 1 | Closely-held equity interests |
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| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt | 0 | Student Stipend - Cost of Living |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc | 0 | Reimburse Wilkes Community College |
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| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | NC Tech Paths has agreed to reimburse Wilkes Community College WCC for student cost of living stipends paid to participants in the Per Scholas training program. WCC uses pre-established criteria to assess qualifications for the student stipends. WCC then invoices NC Tech Paths for the amount to reimburse the stipends. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part III |
| IRS990/ScheduleJRequiredInd | 0 | false |
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| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm | 0 | LGH Family Foundation |
| IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt | 0 | Subs Contract |
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| IRS990ScheduleL/TotalBalanceDueAmt | 0 | 2069330 |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | The tax return is provided to the Board members prior to the annual meeting. Any concerns or questions are addressed and rectified, if necessary, prior to the filling the return. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | In connection with any actual or possible conflicts of interest, an interested person must disclose the existence of his or her financial interest and all material facts to the Directors and members of Committees with Board delegated powers considering the proposed transaction or arrangement. The Chairperson of the Board or Committee shall, if appropriate, appoint a disinterested person or Committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the Board or Committee shall determine whether the Corporation can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the Board or Committee shall determine by a majority vote of the disinterested Directors whether the transaction or arrangement is in the Corporations best interest and for its own benefit and whether the transaction is fair and reasonable to the Corporation and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination. The minutes of the Board and all Committee with Board-delegated powers shall contain the names of the persons who disclosed or otherwise were found to have a financial interest in connection with an actual or possible conflict of interest, the nature of the financial interest, any action taken to determine whether a conflict of interest was present, and the Boards or Committees decision as to whether a conflict of interest in fact existed and the names of the persons who were present for discussions and votes relating to the transaction or arrangement, the content of the discussion, including any alternatives to the proposed transaction or arrangement, and a record of any votes taken in connection there with. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Governing documents, conflict of interest policy, and financial statements are available to the public as requested |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | As of October 2023, the talent portion of the programming was transitioned to Wilkes Community College. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part I, Line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Line 12c |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Line 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part III, Line 3 |
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| IRS990/SignificantChangeInd | 0 | true |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | NC |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
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| IRS990/TotalAssetsEOYAmt | 0 | 2422007 |
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| IRS990/TotalAssetsGrp/EOYAmt | 0 | 2422007 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
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| IRS990/TotalEmployeeCnt | 0 | 6 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 65380 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 667061 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 732441 |
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| IRS990/TotalLiabilitiesEOYAmt | 0 | 2080674 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 1869342 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 2080674 |
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| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 341333 |
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| IRS990/TotalProgramServiceRevenueAmt | 0 | 207401 |
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| IRS990/TotalVolunteersCnt | 0 | 3 |
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| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 2422007 |
| IRS990/TravelGrp/ManagementAndGeneralAmt | 0 | 337 |
| IRS990/TravelGrp/ProgramServicesAmt | 0 | 1912 |
| IRS990/TravelGrp/TotalAmt | 0 | 2249 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | false |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | PO Box 118 |
| IRS990/USAddress/CityNm | 0 | Wilkesboro |
| IRS990/USAddress/StateAbbreviationCd | 0 | NC |
| IRS990/USAddress/ZIPCd | 0 | 28697 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 3 |
| IRS990/VotingMembersIndependentCnt | 0 | 3 |
| IRS990/WebsiteAddressTxt | 0 | nctechpaths.org |
| IRS990/WhistleblowerPolicyInd | 0 | false |
| ReturnHeader/BuildTS | 0 | 2024-10-15 13:58:12Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Albert Lee Herring II |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | Board Chair |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2025-01-16 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | NC TechPaths Inc |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | NCTE |
| ReturnHeader/Filer/EIN | 0 | 872625452 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | PO Box 118 STE |
| ReturnHeader/Filer/USAddress/CityNm | 0 | Wilkesboro |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | NC |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 28697 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 331037531 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | Outfitters4 Inc |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 717 Coliseum Dr NW |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | Winston Salem |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | NC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 27106 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $2,422,007
- Liabilities
- $2,080,674
- Net assets
- $341,333
- Revenue
- $421,371
- Expenses
- $732,441
- Net income
- -$311,070