NORTH CAROLINA CENTRAL UNIVERSITY FOUNDATION INC

EIN: 237410301 501(c)(3) Education

DURHAM, NC

Total Revenue
$22,337,570
Total Expenses
$12,460,598
Total Assets
$63,729,778
Net Assets
$63,101,009
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1972
Legal Domicile
NC
Principal Officer
FRANKIE PERRY
Phone
9195307639
Tax Period
2024-07-01 to 2025-06-30

NORTH CAROLINA CENTRAL UNIVERSITY FOUNDATION INC, founded in 1972, is a mid-sized nonprofit in the Education sector that reported $22.3M in total revenue in fiscal year 2024. The organization ran a surplus of $9.9M, a strong 44% operating margin.

Mission

THE MISSION OF THE NORTH CAROLINA CENTRAL UNIVERSITY FOUNDATION, INC., IS TO FOSTER AND PROMOTE THE GROWTH OF HIGHER EDUCATION IN NORTH CAROLINA AND SPECIFICALLY NORTH CAROLINA CENTRAL UNIVERSITY BY WHATEVER NAME IT MAY BE DESIGNATED, AND TO THAT END TO ENCOURAGE, SOLICIT, RECEIVE AND ADMINISTER GIFTS AND BEQUESTS OF PROPERTY AND TO HOLD IN TRUST ANY PROPERTY, REAL AND PERSONAL GIVEN, DEVISED, BEQUEATHED, GIVEN IN TRUST OR IN ANY OTHER WAY MADE OVER TO SAID CORPORATION FOR THE USE OR BENEFIT OF NORTH CAROLINA CENTRAL UNIVERSITY; TO INVEST OR DISBURSE ALL MONIES RECEIVED, AND GENERALLY TO CARE FOR, MANAGE, ADMINISTER AND CONTROL ALL SUCH PROPERTY RECEIVED, AND TO CARRY OUT THE WISHES AND TO SEE THAT THE FUNDS AND PROPERTY SO RECEIVED, AND TO CARRY ALLOWABLE DESIGNATIONS OF THE DONORS, AND TO PERFORM ANY ACTS AND EXPEND FUNDS NOT SPECIFICALLY DESIGNATED, IN ANY MANNER IN WHICH THE CORPORATION'S BOARD OF DIRECTORS SHALL DETERMINE WILL BE BENEFICIAL TO THE UNIVERSITY.

Program Service Accomplishments

Program 1
Expenses: $10,689,450

ADMINISTER SCHOLARSHIP FUNDS AND PROVIDE SUPPORT TO ALL DEPARTMENTS OF NORTH CAROLINA CENTRAL UNIVERSITY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $18,309,524
Program Service Revenue $0
Investment Income $2,691,380
Other Revenue $1,336,666
TOTAL REVENUE $22,337,570

Expense Breakdown

Grants Paid $10,689,450
Salaries & Benefits $929,413
Fundraising Expenses $0
Program Expenses $10,689,450
Other Expenses $841,735
TOTAL EXPENSES $12,460,598

Year-over-Year Comparison

2024 2023 Change
Revenue $22,337,570 $21,722,265 +0.0%
Expenses $12,460,598 $18,037,819 -0.3%
Net Income $9,876,972 $3,684,446 +1.7%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
19
Independent Members
18
Employees
5
Volunteers
20

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$408,736
Total Directors
20
$408,736
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAULA HUBBARD DIRECTOR 1.00
Director
$0 $0 $0
D CARR THOMPSON DIRECTOR 2.00
Director
$0 $0 $0
OMAR BANKS DIRECTOR FROM JUNE 2025 1.00
Director
$0 $0 $0
JAMES SPEED DIRECTOR 4.00
Director
$0 $0 $0
GEOFFREY HUDSON DIRECTOR 3.00
Director
$0 $0 $0
CHARLES TRAVIS III DIRECTOR 1.00
Director
$0 $0 $0
HARRY STAFFORD DIRECTOR 3.00
Director
$0 $0 $0
GARLAND R AVENT DIRECTOR 4.00
Director
$0 $0 $0
KAMARIA BROWN DIRECTOR 1.00
Director
$0 $0 $0
KARRIE G DIXON EX OFFICIO 1.00
Director
$0 $0 $0
CHRISTOPHER BOOZER DIRECTOR 1.00
Director
$0 $0 $0
SUSAN HESTER INSTITUTIONAL ADVANCEM EX-OFFICIO 2.00
Director
$0 $0 $0
FRANKIE J PERRY PRESIDENT 11.00
Officer Director
$0 $0 $0
ERNEST JENKINS VICE PRESIDENT/EXECUTIVE DIRECTOR 40.00
Officer Director
$393,705 $15,031 $408,736
JAMES D WILLIAMS TREASURER 2.00
Officer Director
$0 $0 $0
ANTOINETTE DR BURWELL DIRECTOR 1.00
Director
$0 $0 $0
CALVIN J CROSSLIN DIRECTOR 1.00
Director
$0 $0 $0
HERBERT RIVERA-SANCHEZ DIRECTOR 1.00
Director
$0 $0 $0
ANDRE VANN EX-OFFICIO UNTIL JUNE 2025 1.00
Director
$0 $0 $0
CORNELL SLADE EX OFFICIO 1.00
Director
$0 $0 $0
JASON SHERRILL FINANCE DIRECTOR 40.00
Highest
$193,692 $13,616 $207,308
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $22,337,570 $12,460,598 $63,729,778 $9,876,972
2024 No data No data No data No data
2023 $20,090,272 $13,680,130 $49,204,677 $6,410,142
2022 $14,481,388 $5,949,139 $41,061,034 $8,532,249
2021 $16,189,044 $6,016,238 $38,094,635 $10,172,806
2020 $4,681,403 $3,798,726 $24,908,417 $882,677
2019 $8,144,128 $6,918,976 $24,336,665 $1,225,152
2018 $6,546,643 $3,013,277 $23,185,853 $3,533,366
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