Louisburg College

Nonprofit profile at a glance

EIN
560547511
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Louisburg, NC, USA
Phone
9194962521
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$16,943,070
Expenses
$16,934,374
Assets
$44,138,723
Liabilities
$17,630,345

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

Leadership & pay

27 people listed

Executive titles in this filing

  • DR GARY M BROWN (PRESIDENT)

Highest reported compensation

  • DR GARY M BROWN (PRESIDENT): $255,762 total reported compensation

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

Overview

Mission

Related by faith to the united methodist church, louisburg college is a two-year residential institution committed to offering a supportive community that nurtures young men and women intellectually, culturally, socially, physically, and spiritually.

What it reported doing in 2024

Louisburg college continues to admit an increasing number of students with higher gpa averages. Confirmation of louisburg's success in preparing students for the next steps in their collegiate careers is evidenced by the college's course completion rate and the number of students who transfer to four year institutions. The college's current course completion rate is 77%. Over the past few years, at least 80% of the college's graduates have transferred to four-year colleges and universities.

Operating model

Revenue model
Earned-program. 87% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 73% for direct work, and 27% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 83
  • Accountability: 93
  • Sustainability: 50
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.5%; rating input score 69
  • Program expense ratio: 74.6%; rating input score 75
  • Fundraising efficiency: $5.78 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.2%; rating input score 96; 30th percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.1%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 2.61; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 1.5%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -2.9% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: -0.1% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 69.5% of revenue deployed · 74.6% of spending went to programs
  • Governance: 25 of 26 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $12.6M in reported program spending
  • Leadership: top reported pay $256K · 27 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $1.8M reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 9 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.