New North Carolina Project Action First Inc

Nonprofit profile at a glance

EIN
862340959
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Concord, NC, USA
Phone
3366820171
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Voter Education, Registration

Official website

Reported finances

Revenue
$288,251
Expenses
$384,522
Assets
$16,448
Liabilities
$8,381

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

Leadership & pay

9 people listed

Executive titles in this filing

  • DR KARTHIK BALASUBRAMANIAN (PRESIDENT)
  • DR AIMY STEELE (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • BREE HENDRICK (VP OF OPERATIONS AND HUMAN): $27,731 total reported compensation
  • DR AIMY STEELE (CHIEF EXECUTIVE OFFICER): $13,408 total reported compensation

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

Overview

Mission

The new North Carolina project's mission is to make politics represent the needs of north carolinians by investing in communities of color, expanding the engaged electorate and creating #lifelongvoters.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 81
  • Sustainability: 10
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.4%; rating input score 87
  • Program expense ratio: 65.5%; rating input score 65
  • Fundraising efficiency: $10.11 raised per $1 spent on fundraising; rating input score 40; 40th percentile among comparable filings

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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 22nd 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: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -33.4%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 10.7%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: -0.7% per year; rating input score 0; 28th percentile among comparable filings
  • Revenue growth: -20.7% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -37.5% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 87.4% of revenue deployed · 65.5% of spending went to programs
  • Governance: 5 of 6 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $252K in reported program spending
  • Leadership: top reported pay $28K · 9 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 40/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 28/100.