Halifax Community College Foundation Inc

Nonprofit profile at a glance

EIN
591608217
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Weldon, NC, USA
Phone
2525384304
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$389,245
Expenses
$167,032
Assets
$2,817,927
Liabilities
$0

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

Leadership & pay

12 people listed

People named in this filing

  • HOLLY WILSON (Chair)
  • KENNY I DELOATCH (Board Member)
  • CINDY WHITE (Board Member)

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

The Foundation was formed to provide scholarships to the students of Halifax Community College.

What it reported doing in 2024

The Foundation provides scholarships to the students of the college.

Operating model

Revenue model
Investment-supported. 67% of the money available for current operations came from recurring investment income.
Distribution model
Hybrid. The nonprofit split its reported program spending across 55% for direct work, and 45% for grants.

The verdict

STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 89
  • Accountability: 88
  • Sustainability: 89
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57.3%; rating input score 57
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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; 63rd 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 57.1%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 16.87; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 7.3% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 7.5% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 7% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 57.3% of revenue deployed · 100% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $93K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Financial Efficiency: Mission deployment rate scored 57/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Transparency & Controls: Schedule D expense reconciliation did not reconcile in the filed values.