Folds of Honor Eastern North Carolina Inc

Nonprofit profile at a glance

EIN
833013031
IRS 990 coverage
2022–2025
Forms available
Form 990 2025, Form 990-EZ 2020
Location
Cary, NC, USA
Phone
9196088898
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$254,608
Expenses
$231,510
Assets
$37,679
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • DON FRICKE (PRESIDENT)

People named in this filing

  • DON FRICKE (PRESIDENT)
  • John S REDDERSEN (Treasurer)
  • KEITH BROKKE (DIRECTOR)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide financial assistance for the education of spouses and dependent children of service men/women who are either killed or permanently disabled while serving our nation.

What it reported doing in 2025

Folds of honor, eastern North Carolina chapter, provides the national organization with grant funds that provide recipients with higher education scholarships and children's fund scholarships for spouses and dependents for service members who were killed in action, killed in the line of duty or suffered the loss of a limb; died of any cause while on active duty or after being classified as having a service-connected disability. Scholarships are used to subsidize the costs of tuition, school books, fees on campus room and board, approved educational tutoring, and other approved educational expenses.

Operating model

Revenue model
Donor-supported. 100% 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.

The verdict

STRONG - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.8%; rating input score 87
  • Program expense ratio: 95.4%; rating input score 95
  • Fundraising efficiency: $107.11 raised per $1 spent on fundraising; rating input score 85; 85th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 81st 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.1%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 0.16; rating input score 10; 10th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 24.1% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 86.8% of revenue deployed · 95.4% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $221K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2022 to 2025
  • 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 10/100.
  • Review — Sustainability: Operating margin scored 55/100.