Lee County Education Foundation

Nonprofit profile at a glance

EIN
134264393
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Sanford, NC, USA
Phone
9197082545
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$383,704
Expenses
$156,834
Assets
$1,782,322
Liabilities
$0

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

Leadership & pay

16 people listed

Executive titles in this filing

  • VICKI O HAISLIP (EXECUTIVE DIRECTOR)

Highest reported compensation

  • VICKI O HAISLIP (EXECUTIVE DIRECTOR): $4,500 total reported compensation

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

Overview

Mission

To support and enhance the education of k through 12 students in lee county nc public schools.

What it reported doing in 2024

The tslctf, sloan scholars, is an attempt to support homegrown teachers in lee county and to address the teacher shortages our county, along with the rest of the state, faces. It's a scholarship, in the form of a forgivable loan, available to high school seniors who attend lee county schools' high schools. The loan will be forgiven after the candidates successfully teach in lcs for four years. The application includes short essay questions and an in-person interview. Winners receive $36,000 over a four-year period to help with college costs. We can award up to two winners a year.

Operating model

Revenue model
Donor-supported. 87% 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. 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: 58
  • Transparency & Controls: 94
  • Accountability: 79
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.2%; rating input score 53
  • Program expense ratio: 86%; rating input score 86
  • Fundraising efficiency: Limited

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: 99.4%; rating input score 99; 60th 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 59.1%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 11.36; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 12.6% per year; rating input score 100; 75th percentile among comparable filings
  • Revenue growth: 10.8% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 53.2% of revenue deployed · 86% of spending went to programs
  • Governance: 15 of 15 board members independent · 4 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $135K in reported program spending
  • Leadership: top reported pay $4K · 16 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

Key Signals

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

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.