Lenoir Community College Foundation Inc

Nonprofit profile at a glance

EIN
561055936
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Kinston, NC, USA
Phone
2525276223
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Community or Junior Colleges

Reported finances

Revenue
$1,419,489
Expenses
$1,068,316
Assets
$15,223,646
Liabilities
$0

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

Leadership & pay

25 people listed

Executive titles in this filing

  • MRS JEANNE KENNEDY (SECRETARY AND EXECUTIVE DIRECTOR)
  • DR RUSTY HUNT (LCC PRESIDENT)

Highest reported compensation

  • DR RUSTY HUNT (LCC PRESIDENT): $233,721 total reported compensation
  • MRS DEBORAH SUTTON (TREASURER): $166,141 total reported compensation

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

Overview

Mission

Supports lenoir community college by providing student scholarships, staff development opportunities, and other student support services.

What it reported doing in 2024

Provides support to lenoir community college through scholarships, staff development, and student-focused services.

Operating model

Revenue model
Donor-supported. 60% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The program-spending lines do not add up, so the filing cannot show reliably whether the nonprofit works directly or through others.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 71
  • Accountability: 88
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.4%; rating input score 92
  • Program expense ratio: 88.4%; rating input score 88
  • Fundraising efficiency: $14.11 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.8%; rating input score 96; 26th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 24.7%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 14.25; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 14.7% per year; rating input score 100; 74th percentile among comparable filings
  • Revenue growth: 0.5% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 92.4% of revenue deployed · 88.4% of spending went to programs
  • Governance: 23 of 24 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $945K in reported program spending
  • Leadership: top reported pay $234K · 25 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.