Gothic Corporation

Nonprofit profile at a glance

EIN
561776668
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Durham, NC, USA
Phone
9196686829
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Reported finances

Revenue
$3,176,211,784
Expenses
$2,437,200,261
Assets
$8,960,129,815
Liabilities
$15,391,793

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

Leadership & pay

3 people listed

Executive titles in this filing

  • NEAL F TRIPLETT (DIRECTOR/PRESIDENT)

Highest reported compensation

  • NEAL F TRIPLETT (DIRECTOR/PRESIDENT): $5,012,725 total reported compensation
  • ROBERT MCGRAIL (DIRECTOR/SECRETARY): $775,253 total reported compensation
  • JANNINE M LALL (DIRECTOR/TREASURER): $536,834 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 for organization's mission statement.

What it reported doing in 2024

Gothic corporation was formed to support the exempt purposes of duke university. A portion of the expenses incurred are related to the management of assets maintained for the support of duke university. Allocations totaling $1,963,772,469 were made to duke university in support of its tax exempt purposes.

Operating model

Revenue model
Affiliate-supported. 77% of the money available for current operations came from contributions from related organizations.
Distribution model
Grant intermediary. The nonprofit sent 81% 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. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 64
  • Accountability: 14
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 3 of 9 controls in place; rating input score 33
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 23.3%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 3.68; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 95; 95th percentile among comparable filings

Growth

  • Program expense growth: 1.2% per year; rating input score 100; 12th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 23rd percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 3 board members independent · 3 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4B in reported program spending
  • Leadership: top reported pay $5M · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 62 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.

Key Signals

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

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 6 of 9 not reported.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.