Kathrine R Everett Charitable James Mcgregor Everett Trustee

Nonprofit profile at a glance

EIN
566473809
IRS 990 coverage
2009–2023
Forms available
Form 990 2023
Location
Durham, NC, USA
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Foundations
Affiliation
Christianity

Reported finances

Revenue
$1,203,143
Expenses
$1,654,399
Assets
$14,409,438
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

3 people listed

People named in this filing

  • JAMES MCGREGOR EVERETT (TRUSTEE)
  • JUDITH W WEGNERJD UNC SCH OF LAW (TRUSTEE)
  • RICH L SCHMALBECKJD DUKE LAW SCH (TRUSTEE)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To financially support the law schools of both unc - chapel hill and duke university.

What it reported doing in 2023

The gift to the university of North Carolina at chapel hill law school provides additional funding for the law library enabling unc law graduates to better serve the general public.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 93
  • Accountability: 45
  • Sustainability: 49
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.7%; rating input score 100
  • 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; 76th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 13th 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: -37.5%; rating input score 5; 5th percentile among comparable filings
  • Total-asset coverage ratio: 8.71; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 8% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: -16.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.7% of spending went to programs
  • Governance: 2 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $1.6M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 15 filing years from 2009 to 2023
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

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