Educational Foundation Scholarship Endowment Trust

Nonprofit profile at a glance

EIN
566094839
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Chapel Hill, NC, USA
Phone
9198432000
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards
Affiliation
Christianity

Official website

Reported finances

Revenue
$19,702,991
Expenses
$16,848,333
Assets
$448,727,300
Liabilities
$0

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

Leadership & pay

10 people listed

Executive titles in this filing

  • JOHN MONTGOMERY (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JOHN MONTGOMERY (EXECUTIVE DIRECTOR): $590,661 total reported compensation
  • KEN MACK (SENIOR ASSOCIATE EXECUTIVE): $309,495 total reported compensation
  • DIANE ALDRIDGE (CFO & GENERAL COUNSEL): $298,316 total reported compensation

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

Overview

Mission

See schedule o

What it reported doing in 2024

Distributions from the scholarship trust are forwarded to the educational foundation, inc. In its capacity as agent for the trust. The foundation then forwards these distributions directly to the university of North Carolina at chapel hill to provide financial assistance to over 550 student-athletes at the university.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. No material rating questions were generated from the available inputs.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 87
  • Accountability: 100
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.5%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 14.5%; rating input score 76; 76th percentile among comparable filings
  • Total-asset coverage ratio: 26.63; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 99; 99th percentile among comparable filings
  • Officer compensation ratio: 0.9%; rating input score 86; 86th percentile among comparable filings

Growth

  • Program expense growth: 5% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 5.9% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.5% of spending went to programs
  • Governance: 5 of 5 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $16.6M in reported program spending
  • Leadership: top reported pay $591K · 10 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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.