CAROLINA FRIENDS SCHOOL

EIN: 560812560 501(c)(3)

DURHAM, NC

Total Revenue
$17,605,330
Total Expenses
$18,532,732
Total Assets
$46,474,296
Net Assets
$36,053,588
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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
1962
Legal Domicile
NC
Principal Officer
KAREN CUMBERBATCH
Phone
9193836602
Tax Period
2024-07-01 to 2025-06-30

CAROLINA FRIENDS SCHOOL, founded in 1962, is a mid-sized nonprofit that reported $17.6M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Net assets of $36.1M represent 25 months of operating reserves.

Mission

CAROLINA FRIENDS SCHOOL IS A VIBRANT AND INCLUSIVE LEARNING COMMUNITY EMPOWERING STUDENTS TO THINK CRITICALLY, CREATIVELY, AND INDEPENDENTLY. WE FOSTER ACTIVE EXPLORATION AND QUIET REFLECTION, INDIVIDUAL ENDEAVOR AND COLLABORATIVE ENGAGEMENT. INSPIRED BY QUAKER VALUES PURSUIT OF TRUTH, RESPECT FOR ALL, PEACEFUL RESOLUTION OF CONFLICT, SIMPLICITY, THE CALL TO SERVICE, WE TEACH OUR CHILDREN THAT IT IS POSSIBLE TO CHANGE THE WORLD.

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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 $1,862,197
Program Service Revenue $14,650,148
Investment Income $1,092,590
Other Revenue $395
TOTAL REVENUE $17,605,330

Expense Breakdown

Grants Paid $2,724,693
Salaries & Benefits $12,359,180
Fundraising Expenses $488,089
Program Expenses $16,333,651
Other Expenses $3,448,859
TOTAL EXPENSES $18,532,732

Year-over-Year Comparison

2024 2023 Change
Revenue $17,605,330 $16,054,025 +0.1%
Expenses $18,532,732 $17,861,140 +0.0%
Net Income $-927,402 $-1,807,115 -0.5%
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
20
Independent Members
17
Employees
340
Volunteers
75

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
5
$526,912
Total Directors
20
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN RICHARDSON DIRECTOR 2.00
Director
$0 $0 $0
REBECCA PALMER DIRECTOR 2.00
Director
$0 $0 $0
MC RAGSDALE DIRECTOR 2.00
Director
$0 $0 $0
MARK KUHN BOARD CLERK 2.00
Officer Director
$0 $0 $0
MARGARET CAMPION DIRECTOR 2.00
Director
$0 $0 $0
LAURA YOUNG DIRECTOR 2.00
Director
$0 $0 $0
LAMANDA PRYOR DIRECTOR 2.00
Director
$0 $0 $0
TABITHA BLACKWELL DIRECTOR 2.00
Director
$0 $0 $0
SUSAN NEWCOMER DIRECTOR 2.00
Director
$0 $0 $0
IAN JENNINGS DIRECTOR 2.00
Director
$0 $0 $0
JILL TIKKUN DIRECTOR 2.00
Director
$0 $0 $0
ERIC GRAVES DIRECTOR 2.00
Director
$0 $0 $0
DAVID HAINES DIRECTOR 2.00
Director
$0 $0 $0
CORT BENNETT DIRECTOR 2.00
Director
$0 $0 $0
CINDY COVINGTON DIRECTOR 2.00
Director
$0 $0 $0
CHARI SMITH DIRECTOR 2.00
Director
$0 $0 $0
BILL O'CONNNOR BOARD SECRETARY 2.00
Officer Director
$0 $0 $0
ROCKY ANCONA DIRECTOR 2.00
Director
$0 $0 $0
SHEILAH THOMAS DIRECTOR 2.00
Director
$0 $0 $0
WAYNE HOLDEN DIRECTOR 2.00
Director
$0 $0 $0
ANNA FAATILIGA DIRECTOR OF FINANCE 40.00
Officer
$85,899 $7,955 $93,854
KAREN CUMBERBATCH HEAD OF SCHOOL 40.00
Officer
$257,501 $25,557 $283,058
JOHN SHARON ASSISTANT HEAD OF SCHOOL LEARNING 40.00
Officer
$129,086 $20,914 $150,000
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 $17,605,330 $18,532,732 $46,474,296 $-927,402
2024 $16,054,025 $17,861,140 $46,671,754 $-1,807,115
2023 $16,601,253 $15,680,013 $47,313,984 $921,240
2022 $15,941,708 $14,009,389 $44,868,357 $1,932,319
2021 $15,676,975 $14,251,632 $47,718,399 $1,425,343
2020 $13,909,604 $12,689,003 $42,537,688 $1,220,601
2019 $14,766,399 $12,502,498 $41,667,045 $2,263,901
2018 $13,459,958 $11,374,456 $40,760,552 $2,085,502
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