NORTH CAROLINA CHARTER EDUCATIONAL FOUNDATION INC

EIN: 455348770 501(c)(3) Education

MOORESVILLE, NC

Total Revenue
$53,667,588
Total Expenses
$47,256,924
Total Assets
$66,881,232
Net Assets
$-8,835,733
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
NC
Principal Officer
JAMES FONSECA
Phone
7049108499
Tax Period
2024-07-01 to 2025-06-30

NORTH CAROLINA CHARTER EDUCATIONAL FOUNDATION INC, founded in 2012, is a mid-sized nonprofit in the Education sector that reported $53.7M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $47.3M left a modest 12% surplus.

Mission

NORTH CAROLINA CHARTER EDUCATIONAL FOUNDATION IS A NORTH CAROLINA NOT-FOR-PROFIT ENTITY ORGANIZED EXCLUSIVELY FOR EDUCATIONAL PURPOSES. THE FOUNDATION IS COMPRISED OF RESPECTED LEADERS IN THE STATE OF NORTH CAROLINA WHO ARE COMMITTED TO PROVIDING HIGH-QUALITY EDUCATIONAL OPTIONS FOR THE STUDENTS AND FAMILIES OF NORTH CAROLINA.

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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 $43,757,575
Program Service Revenue $838,011
Investment Income $8,151,714
Other Revenue $920,288
TOTAL REVENUE $53,667,588

Expense Breakdown

Grants Paid $0
Salaries & Benefits $20,848,376
Fundraising Expenses $0
Program Expenses $27,639,157
Other Expenses $26,408,548
TOTAL EXPENSES $47,256,924

Year-over-Year Comparison

2024 2023 Change
Revenue $53,667,588 $46,329,201 +0.2%
Expenses $47,256,924 $45,692,182 +0.0%
Net Income $6,410,664 $637,019 +9.1%
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
589
Volunteers
431

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
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES FONSECA PRESIDENT & TREASURER 2.00
Officer Director
$0 $0 $0
CHAD METZLER VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
KELLY MILLIGAN SECRETARY 2.00
Officer Director
$0 $0 $0
PRASHON LOVE DIRECTOR 2.00
Director
$0 $0 $0
TOM KAKADELIS DIRECTOR 2.00
Director
$0 $0 $0
RENEE JEFFERSON DIRECTOR 2.00
Director
$0 $0 $0
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 $53,667,588 $47,256,924 $66,881,232 $6,410,664
2024 $46,329,201 $45,692,182 $97,432,838 $637,019
2024 $46,329,201 $45,692,182 $97,432,838 $637,019
2023 $40,248,421 $39,971,514 $97,538,844 $276,907
2022 $37,909,289 $37,781,737 $99,990,421 $127,552
2021 $35,029,413 $36,327,741 $93,431,533 $-1,298,328
2020 $35,899,643 $36,599,033 $94,894,392 $-699,390
2019 $35,885,724 $36,969,160 $98,222,058 $-1,083,436
2018 $35,072,720 $36,857,912 $102,399,023 $-1,785,192
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