Raleigh, NC
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)COLLEGE FOUNDATION INC, founded in 1955, is a mid-sized nonprofit that reported $31.7M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion.
Our work today makes a better tomorrow by empowering people to achieve their academic goals. We provide financial assistance for higher education to benefit society and strengthen the economy of the state of North Carolina.
Educational loan programs: As of June 30, 2025, the Foundation was servicing 16,819 loans to 7,644 borrowers with an outstanding principal balance of $167,630,987. The Foundation services loans for...
Educational loan programs: As of June 30, 2025, the Foundation was servicing 16,819 loans to 7,644 borrowers with an outstanding principal balance of $167,630,987. The Foundation services loans for higher education to North Carolinians attending institutions of higher education, as well as for students enrolled at institutions of higher education in North Carolina. During the fiscal year ended June 30, 2025, the Foundation serviced EXTRA Education loans for borrowers attending schools in North Carolina to cover qualified higher education expenses not included under North Carolina's Federal Family Education Loan Program (FFELP); EXTRA MBA loans for borrowers enrolled in the Kenan Flagler Business School MBA or MAC programs at UNC Chapel Hill who were unable to secure loans under North Carolina's FFELP or the EXTRA Education loan program; and NC Assist loans designed to help bridge the gap between the cost of attendance and other financial aid for students who are NC residents attending an eligible non-profit Title IV institution anywhere or nonresident students attending an eligible non-profit Title IV institution in North Carolina or for the parents of such students.
Information dissemination initiative: The Foundation administers the College Foundation for North Carolina (CFNC) program, which coordinates information dissemination efforts to increase access to...
Information dissemination initiative: The Foundation administers the College Foundation for North Carolina (CFNC) program, which coordinates information dissemination efforts to increase access to higher education in North Carolina. The program provides resources on planning, applying, and paying for college through a comprehensive website (www.CFNC.org), a call center, and program information services to students, families, schools, and colleges. Prospective students submitted 402,370 applications to NC schools using the CFNC website, the CFNC call center received 12,954 calls and responded to 3,577 email inquiries, and 1,227 specific programs were delivered to colleges, K-12 schools and businesses during the year ended June 30, 2025.
NC 529 College Savings Program: The Foundation acts as agent for the NC State Education Assistance Authority in administering the state's College Savings and Investment Program, which is structured...
NC 529 College Savings Program: The Foundation acts as agent for the NC State Education Assistance Authority in administering the state's College Savings and Investment Program, which is structured to meet the requirements of a "qualified" tuition program under Section 529 of the Internal Revenue Code. North Carolina's National College Savings Program maintained 172,172 accounts for 150,435 beneficiaries, with an aggregate value of $4,035,246,211 at June 30, 2025. During the fiscal year ended June 30, 2025, the program received contributions totaling $293,518,390 and processed distributions totaling $310,838,177.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $31,717,688 | $27,329,303 | +0.2% |
| Expenses | $32,113,959 | $24,977,798 | +0.3% |
| Net Income | $-396,271 | $2,351,505 | -1.2% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Wendy H McAlister | President & CEO | 52 |
Officer
|
$257,804 | $32,695 | $290,499 |
| Pete Rau | Vice President | 44 |
Officer
|
$199,195 | $27,927 | $227,122 |
| Martin L Flournory | IT Development Manager | 43 |
Highest
|
$169,910 | $30,416 | $200,326 |
| Lynn Barnette | Vice President | 45 |
Officer
|
$174,474 | $23,099 | $197,573 |
| Marcia Southerland | Vice President | 44 |
Officer
|
$164,033 | $31,396 | $195,429 |
| Kevin Bartholomew | Secretary and Treaurer | 46 |
Officer
|
$169,131 | $23,046 | $192,177 |
| Sumith N Mathur | Sr Solutions Architect | 45 |
Highest
|
$154,933 | $34,935 | $189,868 |
| Rob Hines | Vice President | 47 |
Officer
|
$156,839 | $32,803 | $189,642 |
| Dawn S Harris | IT Operations Manager | 41 |
Highest
|
$160,049 | $27,041 | $187,090 |
| Richard H Ferneyhough Jr | Web Developer | 40 |
Highest
|
$159,174 | $24,005 | $183,179 |
| Daniel F Sullivan | Security Officer/Proj Mgr | 41 |
Highest
|
$148,156 | $32,967 | $181,123 |
| Karl D Vass Jr | Secretary and Treasurer | 0 |
Officer
|
$18,341 | $1,261 | $19,602 |
| Charles J Stewart | Chairman of Board | 1 |
Director
|
$0 | $0 | $0 |
| Robert E Hammersley Jr | Vice Chairman of the Board | 1 |
Director
|
$0 | $0 | $0 |
| Hal S Johnson | Treasurer | 1 |
Director
|
$0 | $0 | $0 |
| Hugh A Holston | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Brian K Reid | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| A Hope Williams | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Hyacinth Drummond | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Felicia Woodard | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Shannon Trapp | Trustee | 1 |
Director
|
$0 | $0 | $0 |
| Shannon Byers | President & CEO | 0 |
Officer
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $31,717,688 | $32,113,959 | $55,777,315 | $-396,271 |
| 2024 | $27,329,303 | $24,977,798 | $51,135,122 | $2,351,505 |
| 2023 | $31,424,429 | $27,659,962 | $52,501,264 | $3,764,467 |
| 2022 | $28,583,113 | $27,893,424 | $54,729,699 | $689,689 |
| 2021 | $27,866,306 | $26,815,025 | $52,338,286 | $1,051,281 |
| 2020 | $28,460,458 | $28,484,911 | $51,700,629 | $-24,453 |
| 2019 | $28,116,782 | $28,397,805 | $51,427,610 | $-281,023 |
| 2018 | $28,415,354 | $27,172,267 | $51,292,354 | $1,243,087 |
Compare COLLEGE FOUNDATION INC with other nonprofits in North Carolina and across the country.