Asheboro City Schools Education Foundation

Nonprofit profile at a glance

EIN
561761842
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Asheboro, NC, USA
Phone
3366255104
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$64,452
Expenses
$82,012
Assets
$1,013,267
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Sandra Spivey (Vice President)
  • Aaron Woody (President)

People named in this filing

  • Carla Freemyer (Member at Large)
  • Carle Hall (Member at Large)
  • Sam Ramsey (Member at Large)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To award scholarships to seniors graduating from Asheboro High School and attending institutions of higher learning. Also to provide a conduit for public donations that are intended to be paid to Asheboro City Schools for upgrades of facilities and supplementation of educational programs.

What it reported doing in 2024

The Asheboro City Schools Education Foundation receives monetary donations from the public and uses them to award scholarships to seniors from Asheboro High School who are attending institutions of higher learning upon graduation. For the year ending June 30, 2025, the Asheboro City Schools Education Foundation awarded scholarships to 27 seniors (paid directly to their respective institutions of higher learning) totaling $38,500.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 94
  • Accountability: 64
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.8%; rating input score 99
  • Program expense ratio: 76.9%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -27.2%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 12.36; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 16.7% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: -8.4% per year; rating input score 0; 35th percentile among comparable filings
  • Asset growth: 9.5% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 98.8% of revenue deployed · 76.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $63K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 42 of 42 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 36/100.