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)

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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.

Program Service Accomplishments

Program 1
Expenses: $14,797,964 Revenue: $13,354,307

PROVIDE EDUCATION TO STUDENTS FROM PRESCHOOL (3 YEARS OLD) THROUGH UPPER SCHOOL (12TH GRADE). AT CAROLINA FRIENDS SCHOOL, LEARNING IS DYNAMIC, EXPERIENTIAL, AND INTERACTIVE. STUDENTS ENCOUNTER...

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PROVIDE EDUCATION TO STUDENTS FROM PRESCHOOL (3 YEARS OLD) THROUGH UPPER SCHOOL (12TH GRADE). AT CAROLINA FRIENDS SCHOOL, LEARNING IS DYNAMIC, EXPERIENTIAL, AND INTERACTIVE. STUDENTS ENCOUNTER OPEN-ENDED QUESTIONS, UNDERTAKE ORIGINAL PROJECTS OF REAL RELEVANCE, EXPLORE THE NATURAL WORLD, AND IMMERSE THEMSELVES IN SERVICE LEARNING. IN DOING SO, THEY BUILD IMPRESSIVE POWERS OF CRITICAL, CREATIVE, AND INDEPENDENT THINKING AND EXPRESSION. IT IS EXCEPTIONAL EDUCATION SHAPED BY A CLEAR SET OF BELIEFS, A COMMITMENT TO QUAKER VALUES, A LOVE OF CHILDREN, AND A SENSE OF HOPE FOR THE COMMUNITIES, LOCAL AND GLOBAL, THEY WILL SOON LEAD AND SERVE. AT THE END OF THE SCHOOL YEAR 2024/2025, THERE WERE 490 STUDENTS ENROLLED IN THE SCHOOL.

Program 2
Expenses: $1,535,687 Revenue: $1,296,236

AUXILIARY SERVICES FOR CAROLINA FRIENDS SCHOOL INCLUDE AFTER-SCHOOL CARE, SUMMER PROGRAMS, AND ENRICHMENT PROGRAMS. IN ADDITION TO AUXILIARY SERVICES, EXPENSES INCLUDE THOSE SUPPORTING SPORTS...

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AUXILIARY SERVICES FOR CAROLINA FRIENDS SCHOOL INCLUDE AFTER-SCHOOL CARE, SUMMER PROGRAMS, AND ENRICHMENT PROGRAMS. IN ADDITION TO AUXILIARY SERVICES, EXPENSES INCLUDE THOSE SUPPORTING SPORTS PROGRAMS, LIBRARY SERVICES, AND SUPPORTING LEARNING NEEDS. AFTER-SCHOOL CARE IS OFFERED IN THE LOWER AND MIDDLE SCHOOLS UNTIL 5:45 PM EACH SCHOOL DAY. OUR SUMMER PROGRAMS OFFER A VARIETY OF WEEKLY CAMPS TO THE COMMUNITY. THE CAMPS ARE EXTREMELY SUCCESSFUL AND PROVIDE AN OUTREACH TO A WIDE VARIETY OF FAMILIES IN THE AREA. THERE WERE APPROXIMATELY 1,114 STUDENTS INVOLVED IN AUXILIARY ACTIVITIES IN SCHOOL YEAR 2024/2025. MANY STUDENTS ARE INVOLVED IN MORE THAN ONE ACTIVITY. ENRICHMENT PROGRAMS INCLUDE AFTER-SCHOOL "FUN SHOPS" IN ART, SCIENCE, SPORTS, AND MUSIC LESSONS. PEACEFUL SCHOOLS NC PROVIDES PROFESSIONAL DEVELOPMENT, CONSULTING, STUDENT PROGRAMS, AND FAMILY SUPPORT TO FOSTER POSITIVE RELATIONSHIPS IN SCHOOL COMMUNITIES SO THAT ALL MEMBERS CAN THRIVE.

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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

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Liquidity & Cash Position

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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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