NORTH CAROLINA FOR QUALITY VIRTUAL EDUCATION INC

EIN: 454339430 501(c)(3) Education

DURHAM, NC

Total Revenue
$27,847,139
Total Expenses
$23,587,306
Total Assets
$8,100,095
Net Assets
$6,318,735
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2011
Legal Domicile
NC
Principal Officer
JILL HAMMERGREN
Phone
9196387056
Tax Period
2023-07-01 to 2024-06-30

NORTH CAROLINA FOR QUALITY VIRTUAL EDUCATION INC, founded in 2011, is a mid-sized nonprofit in the Education sector that reported $27.8M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $4.3M, a strong 15% operating margin.

Mission

TO EMPOWER CHILDREN WITH KNOWLEDGE, SKILLS, AND CHARACTER TRAITS TO BE SUCCESSFUL IN THEIR EDUCATION THROUGH AN ENGAGING, PERSONALIZED LEARNING EXPERIENCE IN A FULL-TIME VIRTUAL SCHOOL.

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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 (2023)

Revenue Breakdown

Contributions & Grants $27,847,139
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $27,847,139

Expense Breakdown

Grants Paid $0
Salaries & Benefits $16,452,675
Fundraising Expenses $0
Program Expenses $20,908,546
Other Expenses $7,134,631
TOTAL EXPENSES $23,587,306

Year-over-Year Comparison

2023 2022 Change
Revenue $27,847,139 $25,084,236 +0.1%
Expenses $23,587,306 $26,800,485 -0.1%
Net Income $4,259,833 $-1,716,249 -3.5%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
6
Independent Members
6
Employees
223
Volunteers
N/A

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
$0
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JILL HAMMEGREN BOARD MEMBER 0.00
Officer Director
$0 $0 $0
ANGELA HOWARD VICE PRESIDENT 0.00
Officer Director
$0 $0 $0
DEBORA WILLIAMS TREASURER 0.00
Officer Director
$0 $0 $0
JULIE MARKS PRESIDENT 0.00
Director
$0 $0 $0
AUDREY MARTIN-MCCOY BOARD MEMBER 0.00
Director
$0 $0 $0
DEE RAY SECRETARY 0.00
Director
$0 $0 $0
JAMES MULLINS CHIEF OF STAFF 0.00
Director
$0 $0 $0
JAMIE HILL SUPERINTENDENT 1.00
Highest
$170,799 $14,689 $185,488
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 No data No data No data No data
2024 $27,847,139 $23,587,306 $8,100,095 $4,259,833
2023 $25,084,236 $26,800,485 $3,924,206 $-1,716,249
2022 $26,567,456 $26,378,581 $4,628,797 $188,875
2021 $18,932,286 $18,021,912 $4,459,470 $910,374
2020 $16,097,408 $13,979,997 $4,569,348 $2,117,411
2019 $18,083,358 $18,046,243 $3,153,150 $37,115
2018 $14,455,832 $13,858,591 $1,219,649 $597,241
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