NC State Wolfpack Club

Legal name: Nc State Student Aid Association Inc

Nonprofit profile at a glance

EIN
560650623
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Raleigh, NC, US
Phone
(919) 865-1500
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$58,813,112
Expenses
$46,242,679
Assets
$132,636,503
Liabilities
$32,148,088

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

Leadership & pay

27 people listed

Executive titles in this filing

  • EDDIE WETHERILL (PRESIDENT)
  • CLYDE PHILLIPS (VICE PRESIDENT)
  • BRIAN MCMURRAY (IMMEDIATE PAST PRESIDENT)
  • BENJAMIN BROUSSARD (EXECUTIVE DIRECTOR)
  • JAMES CORRELL JR (ASSOCIATE EXECUTIVE DIRECTOR)

Highest reported compensation

  • BENJAMIN BROUSSARD (EXECUTIVE DIRECTOR): $427,582 total reported compensation
  • JAMES CORRELL JR (ASSOCIATE EXECUTIVE DIRECTOR): $203,600 total reported compensation
  • STEPHEN FOSHEE (DIRECTOR OF MAJOR GIVING): $165,820 total reported compensation

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

Overview

Mission

Supporting NC State Student-Athletes Since 1936

What it reported doing in 2024

Financing scholarships awarded by nc state university to worthy students.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 85% of its reported program spending out as 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 76
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.6%; rating input score 78
  • Program expense ratio: 96.6%; rating input score 97
  • Fundraising efficiency: $62.89 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th 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: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th 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; 77th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 21.4%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 2.87; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: 6.3% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 5.4% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: -0.3% per year; rating input score 0; 6th percentile among comparable filings

Details

  • What they do: 6 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 77.6% of revenue deployed · 96.6% of spending went to programs
  • Governance: 21 of 21 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $44.7M in reported program spending
  • Leadership: top reported pay $428K · 27 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $542K reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.