NORTH CAROLINA CHARTER EDUCATIONAL… - Form 990 Financial Data

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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

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.

Program Service Accomplishments

Program 1

Expenses: $27,639,157 Revenue: $1,758,299

NORTH CAROLINA CHARTER EDUCATIONAL FOUNDATION OPERATED FOUR PUBLICLY FUNDED CHARTER SCHOOLS IN NORTH CAROLINA, PROVIDING EDUCATION TO APPROXIMATELY 3,660 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30...

NORTH CAROLINA CHARTER EDUCATIONAL FOUNDATION OPERATED FOUR PUBLICLY FUNDED CHARTER SCHOOLS IN NORTH CAROLINA, PROVIDING EDUCATION TO APPROXIMATELY 3,660 STUDENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2025.

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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%)

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

Governance

Voting Members

Independent Members

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

Total Directors

Key Employees

Highest Compensated

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

NORTH CAROLINA CHARTER EDUCATIONAL FOUNDATION INC