The Endowment: New Hanover Community Endowment
Legal name: New Hanover Community Endowment Inc
Nonprofit profile at a glance
- EIN
- 853563370
- IRS 990 coverage
- 2022–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-EZ 2020, Form 990-T 2024
- Location
- Wilmington, NC, USA
- Phone
- 9107565990
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Community Foundations
Reported finances
- Revenue
- $111,652,777
- Expenses
- $73,806,669
- Assets
- $1,548,109,603
- Liabilities
- $53,826
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
24 people listed
Executive titles in this filing
- Bill Cameron (Board Chair/Interim President)
- William Buster (President (until 02/28/24))
- Lakesha McDay (Vice President (until 10/15/24))
- Dan Winslow (President)
Highest reported compensation
- William Buster (President (until 02/28/24)): $400,586 total reported compensation
- Lakesha McDay (Vice President (until 10/15/24)): $255,488 total reported compensation
- Joel Beeson (Treasurer): $235,018 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 strengthen the health, education, safety, and economic opportunity of every person in our community. Our mission is clear To improve the health, education, safety, and economic opportunity of every person in our community. At the New Hanover Community Endowment, diversity and stewardship are fundamental to our mission of driving meaningful and lasting change. We believe that embracing diverse perspectives strengthens our ability to serve the community equitably and effectively. As responsible stewards of resources, we are committed to creating inclusive opportunities, making strategic investments, and ensuring that every decision reflects integrity, transparency, and accountability. By prioritizing both diversity and thoughtful stewardship, we create a foundation for sustainable impact, one.
What it reported doing in 2024
Providing financial support to benefit the residents of New Hanover County and region. New Hanover Community Endowment, Inc. focuses on (1) public primary, secondary, and post-secondary education, (2) health and social equity, (3) community development, and (4) community safety in furtherance of the mission and initiatives of New Hanover County.
Operating model
- Revenue model
- Investment-supported. 61% of the money available for current operations came from recurring investment income.
- Distribution model
- Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 83
- Transparency & Controls: 67
- Accountability: 100
- Sustainability: 90
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 99.5%; rating input score 99
- Program expense ratio: 85.2%; rating input score 85
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- 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: Scored; rating input score 0
- Grant itemization coverage: 100%; rating input score 100; 52nd 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: 9 of 9 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: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 33.9%; rating input score 93; 93rd percentile among comparable filings
- Total-asset coverage ratio: 20.98; rating input score 97; 97th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 98; 98th percentile among comparable filings
- Officer compensation ratio: 2.1%; rating input score 53; 53rd percentile among comparable filings
Growth
- Program expense growth: 107.5% per year; rating input score 100; 100th percentile among comparable filings
- Revenue growth: 150.5% per year; rating input score 100; 100th percentile among comparable filings
- Asset growth: 38% per year; rating input score 100; 98th percentile among comparable filings
Details
- What they do: 1 operating location identified
- Where the money goes: 99.5% of revenue deployed · 85.2% of spending went to programs
- Governance: 13 of 13 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $62.8M in reported program spending
- Leadership: top reported pay $401K · 24 people listed · 2 of 6 pay-setting controls reported
- Consistency: 31 of 31 current checks pass
- Schedules: 7 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 69 filed money-flow records
- Related organizations: 59 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: Foreign activity oversight scored 0/100.
- Review — Sustainability: Officer compensation ratio scored 53/100.