THE EDUCATIONAL FOUNDATION INC

EIN: 566058412 501(c)(3)

CHAPEL HILL, NC

Total Revenue
$76,461,125
Total Expenses
$64,647,364
Total Assets
$223,104,596
Net Assets
$111,905,322
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1938
Legal Domicile
NC
Principal Officer
JOHN MONTGOMERY
Phone
9198432000
Tax Period
2023-07-01 to 2024-06-30

THE EDUCATIONAL FOUNDATION INC, founded in 1938, is a mid-sized nonprofit that reported $76.5M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. The organization ran a surplus of $11.8M, a strong 15% operating margin.

Mission

WRITTEN POLICY FOR COMPENSATION CHARTER TRAVEL, TRAVEL FOR COMPANIONS, AND CLUB DUES MAY BE PROVIDED BY THE ORGANIZATION TO CERTAIN MEMBERS OF ITS SENIOR STAFF. ALL TRAVEL PAID FOR BY THE ORGANIZATION OR REIMBURSED TO EMPLOYEES UNDER THE ACCOUNTABLE PLAN IS CONSIDERED TO HAVE A BUSINESS PURPOSE. ANY INDIVIDUAL LISTED ON FORM 990, PART VII MAY HAVE RECEIVED CHARTER TRAVEL OR TRAVEL FOR COMPANIONS. ALL SUCH TRAVEL WAS ASSOCIATED WITH THE ORGANIZATION'S CHARITABLE MISSION AND WAS NOT TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS. CERTAIN MEMBERS OF ITS SENIOR STAFF RECEIVED CLUB DUES. THE USE OF SOCIAL CLUB MEMBERSHIPS FOR BUSINESS PURPOSES ARE NOT TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS. HOWEVER, THE PORTION RELATED TO PERSONAL USE OF SOCIAL CLUB MEMBERSHIPS IS TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $68,943,329
Program Service Revenue $0
Investment Income $7,517,796
Other Revenue $0
TOTAL REVENUE $76,461,125

Expense Breakdown

Grants Paid $46,347,635
Salaries & Benefits $5,595,136
Fundraising Expenses $4,024,006
Program Expenses $57,095,280
Other Expenses $12,650,849
TOTAL EXPENSES $64,647,364

Year-over-Year Comparison

2023 2022 Change
Revenue $76,461,125 $81,777,973 -0.1%
Expenses $64,647,364 $78,781,027 -0.2%
Net Income $11,813,761 $2,996,946 +2.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
27
Independent Members
27
Employees
60
Volunteers
200

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
10
$1,748,788
Total Directors
27
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ALGE CRUMPLER EXECUTIVE BOARD MBR. 0.00
Director
$0 $0 $0
DONNA CURTIS MCCLATCHEY EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
SHARON ROTHWELL EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
JIM SIGMAN VICE CHAIR 0.00
Officer Director
$0 $0 $0
VAUGHN MOORE EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
DEWEY BURKE EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
BRIAN GOLSON EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
ALAN CALDWELL EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
DON HARDISON EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
IV CULP EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
MICHAEL KENNEDY EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
AURELIA STAFFORD MONK EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
TOM CHEWNING EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
KEN WILLIAMS EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
LOWRY CAUDILL EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
FRANK BRENNER EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
DWIGHT STONE EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
DON WILLIAMS PAST CHAIR 0.00
Officer Director
$0 $0 $0
ANNE LLOYD CHAIR 0.00
Officer Director
$0 $0 $0
MILT PETTY TREASURER 0.00
Officer Director
$0 $0 $0
TOM MANN SECRETARY 0.00
Officer Director
$0 $0 $0
DAVE BOLIEK EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
RALPH MEEKINS EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
MICHAEL ANDREASEN EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
TODD POPE EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
SUSAN GROSS EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
KEITH STONEMAN EXECUTIVE BOARD MBR 0.00
Director
$0 $0 $0
JOHN MONTGOMERY EXECUTIVE DIRECTOR 40.00
Officer
$649,326 $36,024 $685,350
DIANE ALDRIDGE CFO & GENERAL COUNSEL 40.00
Officer
$263,040 $31,877 $294,917
EMILY COBLE SENIOR DIRECTOR OF FINANCE 40.00
Officer
$118,205 $22,521 $140,726
KEN MACK SR ASSOC EXEC DIR LEAD GIF 40.00
Officer
$322,280 $35,344 $357,624
MATT TERRELL CHIEF STRATEGY & COMMS OFF 40.00
Officer
$240,279 $29,892 $270,171
GARY BURNS SENIOR DIRECTOR OF MAJOR G 40.00
Highest
$208,814 $29,066 $237,880
EMILY STEVENS MAJOR GIFTS DIRECTOR 40.00
Highest
$190,250 $23,928 $214,178
SETH REEVES CHIEF REVENUE OFFICER 40.00
Highest
$262,287 $29,713 $292,000
ELIZABETH MACKETHAN SENIOR PHILANTHROPY OFFICER 40.00
Highest
$190,374 $18,436 $208,810
ERIC MONTROSS SENIOR DIR OF PRINCIPAL GIFTS 40.00
Highest
$215,630 $14,789 $230,419
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 No data No data No data No data
2024 $76,461,125 $64,647,364 $223,104,596 $11,813,761
2023 $81,777,973 $78,781,027 $213,331,120 $2,996,946
2022 $82,405,052 $44,922,056 $210,237,588 $37,482,996
2021 $63,834,996 $48,905,119 $193,854,804 $14,929,877
2020 $79,221,316 $43,399,868 $148,527,543 $35,821,448
2019 $43,570,149 $77,180,181 $131,716,648 $-33,610,032
2018 $50,406,571 $88,404,009 $121,969,174 $-37,997,438
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