NC STATE STUDENT AID ASSOCIATION I… - 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

1955

Legal Domicile

Principal Officer

BEN BROUSSARD

Phone

9198651500

Tax Period

2024-07-01 to 2025-06-30

NC STATE STUDENT AID ASSOCIATION INC, founded in 1955, is a mid-sized nonprofit in the Education sector that reported $58.8M in total revenue in fiscal year 2024. Revenue surged 81% from the prior year, signaling strong growth momentum. The organization ran a surplus of $12.6M, a strong 21% operating margin.

Mission

THE MISSION OF THE NC STATE STUDENT AID ASSOCIATION (WOLFPACK CLUB) IS TO PROVIDE PRIVATE FINANCIAL SUPPORT FOR ATHLETIC SCHOLARSHIPS AND FACILITIES FOR NC STATE UNIVERSITY. ADDITIONALLY, THE STUDENT AID ASSOCIATION PROVIDES COMMUNICATION AND SERVICES FOR ALL FRIENDS OF THE WOLFPACK ATHLETICS. ALL OF THE ACTIVITIES ARE DONE WITH THE HIGHEST INTEGRITY FOR ACADEMIC AND ATHLETIC EXCELLENCE AND WITHIN THE GUIDELINES ESTABLISHED BY THE UNIVERSITY, THE ATLANTIC COAST CONFERENCE, AND THE NATIONAL COLLEGIATE ATHLETIC ASSOCIATION.

Program Service Accomplishments

Program 1

Expenses: $28,733,857 Revenue: $7,106,113

FACILITY IMPROVEMENTS FOR NC STATE UNIVERSITY

Program 2

Expenses: $15,923,333

FINANCING SCHOLARSHIPS AWARDED BY NC STATE UNIVERSITY TO WORTHY STUDENTS.

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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 $49,621,962

Program Service Revenue $7,101,032

Investment Income $2,023,589

Other Revenue $66,529

TOTAL REVENUE $58,813,112

Expense Breakdown

Grants Paid $37,923,919

Salaries & Benefits $4,083,366

Fundraising Expenses $789,080

Program Expenses $44,657,190

Other Expenses $4,235,394

TOTAL EXPENSES $46,242,679

Year-over-Year Comparison

	2024	2023	Change
Revenue	$58,813,112	$32,577,617	+0.8%
Expenses	$46,242,679	$30,536,223	+0.5%
Net Income	$12,570,433	$2,041,394	+5.2%

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

Volunteers

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

$427,582

Total Directors

Key Employees

$203,600

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EDDIE WETHERILL	PRESIDENT	4.00	Officer Director	$0	$0	$0
ELIZABETH COOLEY	TREASURER	4.00	Officer Director	$0	$0	$0
CLYDE PHILLIPS	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
BRIAN MCMURRAY	IMMEDIATE PAST PRESIDENT	4.00	Officer Director	$0	$0	$0
GED KING	DIRECTOR	1.00	Director	$0	$0	$0
BOO CORRIGAN	EX-OFFICIO	1.00	Director	$0	$0	$0
BRAD REMMEY	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN SISCHO	EX-OFFICIO	1.00	Director	$0	$0	$0
CRES CALABRESE	DIRECTOR	1.00	Director	$0	$0	$0
CRYSTAL FISH	DIRECTOR	1.00	Director	$0	$0	$0
DOUG DOGGETT	DIRECTOR	1.00	Director	$0	$0	$0
ASTRA BALL	DIRECTOR	1.00	Director	$0	$0	$0
KEN NICHOLS	DIRECTOR	1.00	Director	$0	$0	$0
GREG HATEM	DIRECTOR	1.00	Director	$0	$0	$0
ANNETTE HOLLER	DIRECTOR	1.00	Director	$0	$0	$0
JERRICHO COTCHERY	DIRECTOR	1.00	Director	$0	$0	$0
JIM STOWE	DIRECTOR	1.00	Director	$0	$0	$0
KRIS NEAL	DIRECTOR	1.00	Director	$0	$0	$0
MATT GRIFFITH	DIRECTOR	1.00	Director	$0	$0	$0
RANDY WOODSON	EX-OFFICIO	1.00	Director	$0	$0	$0
WOODY JONES	DIRECTOR	1.00	Director	$0	$0	$0
BENJAMIN BROUSSARD	EXECUTIVE DIRECTOR	40.00	Officer	$403,400	$24,182	$427,582
JAMES CORRELL JR	ASSOCIATE EXECUTIVE DIRECTOR	40.00	Key Emp	$184,443	$19,157	$203,600
EMILY WAYLAND	DIRECTOR OF ANNUAL GIVING	40.00	Highest	$113,663	$14,718	$128,381
STEPHEN FOSHEE	DIRECTOR OF MAJOR GIVING	40.00	Highest	$150,151	$15,669	$165,820
MEDIA HOOKS	DIRECTOR OF MARKETING AND COMMUNICATIONS	40.00	Highest	$144,850	$17,097	$161,947
GEORGE W PRIDGEN	SENIOR MAJOR GIFT OFFICER	40.00	Highest	$118,268	$16,123	$134,391

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	$58,813,112	$46,242,679	$132,636,503	$12,570,433
2024	$32,577,617	$30,536,223	$123,651,935	$2,041,394
2023	$34,945,207	$40,016,949	$114,223,350	$-5,071,742
2022	$35,950,194	$21,214,461	$117,853,351	$14,735,733
2021	$23,877,668	$48,072,419	$102,296,557	$-24,194,751
2020	$28,033,591	$26,155,453	$99,629,389	$1,878,138
2019	$27,417,708	$25,392,103	$101,491,567	$2,025,605

NC STATE STUDENT AID ASSOCIATION INC