North Carolina Bankers Association Foundation

Nonprofit profile at a glance

EIN
561391773
IRS 990 coverage
2014–2025
Forms available
Form 990 2025
Location
Raleigh, NC, USA
Phone
9197817979
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$447,878
Expenses
$236,161
Assets
$5,682,592
Liabilities
$2,876

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • PETER GWALTNEY (PRESIDENT & CEO)

Highest reported compensation

  • PETER GWALTNEY (PRESIDENT & CEO): $677,233 total reported compensation
  • LYNN JOHNSON (COO, EVP): $390,835 total reported compensation
  • SUZANNE BROOKS (CFO): $274,065 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The corporation's primary purpose include: (1) making scholarship grants to qualified residents of North Carolina; (2) making funds available to any person or entity in order to educate the public regarding financial literacy, banking and finance laws, or consumer protection; and (3) disturbing funds to full or part-time bank employees with immediate needs who live in an area where a current or future disaster has been designated and who have sustained significant property damage or expenses as a result of the disaster.

What it reported doing in 2025

The nc bankers association foundation has partnered with historically black colleges & universities and North Carolina banks on the future bank leaders program. The goal of this program is to attract undergraduates to the dynamic, fast-changing world of modern banking, while support North Carolina banks by developing the next generation of high-quality talent.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 75% for direct work, and 25% for grants.

The verdict

SUPPORTED - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 71
  • Accountability: 87
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.2%; rating input score 76
  • Program expense ratio: 99.7%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 81st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.8%; rating input score 94; 28th 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: 47.3%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 24.06; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 101.5%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: 11.4% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 1.6% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 76.2% of revenue deployed · 99.7% of spending went to programs
  • Governance: 15 of 16 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $235K in reported program spending
  • Leadership: top reported pay $677K · 26 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.