Overview
What is North Carolina Central University Foundation Inc?
North Carolina Central University Foundation Inc is a nonprofit organization that plays a pivotal role in administering scholarship funds and offering support to all departments at North Carolina Central University (NCCU), located in Durham, North Carolina. With a mission to foster and promote the growth of higher education in North Carolina and particularly at NCCU, the Foundation strives to enhance the learning experience for students in the area. Their activities include managing scholarships and providing essential resources to various university departments. Their team, consisting of four dedicated individuals, is dedicated to the cause of nurturing higher education in North Carolina.
Official website here: www.nccu.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The North Carolina Central University Foundation Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong accountability and financial health. With a 97% score in Accountability & Finance, the foundation demonstrates robust governance practices, including a fully independent board and comprehensive oversight mechanisms. The absence of material diversions of assets and the presence of critical policies further solidify its commitment to transparency.
Strengths include a high program expense ratio of 86.15%, indicating that a significant portion of its funds is directed towards its mission-related activities. Additionally, the foundation maintains an excellent liabilities to assets ratio at 0.59%, showcasing its financial stability. The working capital ratio of 5.72 years also suggests that the organization is well-positioned to meet its obligations for the foreseeable future.
However, while the foundation's fundraising efficiency ratio is notably low at $0.002, indicating high costs relative to funds raised, this is not uncommon for nonprofit organizations that prioritize mission delivery over fundraising overhead. Overall, the North Carolina Central University Foundation Inc stands out for its effective financial management and strong governance practices, making it a trustworthy choice for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is North Carolina Central University Foundation Inc legitimate?
North Carolina Central University Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. North Carolina Central University Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $331,427
Professional Fundraising Fees: $0
Other Salaries and Wages: $290,654
For more financial information, click here
Official website here: www.nccu.edu
What is the mission statement of North Carolina Central University Foundation Inc?
The North Carolina Central University Foundation Inc is dedicated to fostering and promoting the growth of higher education in North Carolina, with a particular focus on North Carolina Central University. The organization's mission is to administer scholarship funds and provide support to all departments of North Carolina Central University, aiming to foster a thriving academic community. By investing in higher education, the foundation contributes to the development of a skilled and knowledgeable workforce and enhances the overall economic and social fabric of the state. Through its efforts, the foundation plays an essential role in expanding opportunities for students and ensuring the long-term success of North Carolina Central University.
Official website here: www.nccu.edu
What is the revenue of North Carolina Central University Foundation Inc?
North Carolina Central University Foundation Inc's revenue in 2023 was $20,090,272.
Official website here: www.nccu.edu
Who are the executives of North Carolina Central University Foundation Inc and what are their salaries?
The average compensation at North Carolina Central University Foundation Inc during 2023 was $155,520. There are 4 employees and 20 volunteers at North Carolina Central University Foundation Inc.
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Official website here: www.nccu.edu
Where can I find the form 990 for North Carolina Central University Foundation Inc?
North Carolina Central University Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nccu.edu
Learn more at the official website: www.nccu.edu
Mission Statement of North Carolina Central University Foundation Inc
The North Carolina Central University Foundation Inc serves a pivotal role in fostering and promoting the growth of higher education in North Carolina, with a particular focus on North Carolina Central University. Established with a mission to support and advance the academic institution, the Foundation administers scholarship funds and provides essential resources and assistance to various departments within the university. By doing so, it contributes to the overall development and enhancement of higher education in the state.
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Impact
October, 2024
North Carolina Central University Foundation Inc plays a vital role in enhancing higher education in North Carolina, particularly at North Carolina Central University (NCCU). By administering scholarship funds, the foundation alleviates financial barriers for students, enabling a broader range of individuals to pursue their academic goals. The support provided to various departments at NCCU fosters academic excellence, program development, and a rich educational environment. This commitment not only benefits students directly but also contributes to the overall growth and reputation of the university, enriching the local community and the state as a whole. Through its initiatives, the foundation helps cultivate future leaders and innovators, ultimately impacting various sectors within North Carolina.
This information is meant to be a general summary of North Carolina Central University Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,060,475
- Gross Receipts: $22,558,909
Assets and Liabilities:
- Total Assets: $41,061,034
- Total Liabilities: $214,426
- Net Assets: $40,846,608
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Organization Details
Founding Year
1972
Principal Officer
Frankie Perry
Website
www.nccu.eduNTEE Category
Code: B110 - Education
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