North Carolina Community Foundation

Nonprofit profile at a glance

EIN
581661700
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Raleigh, NC, USA
Phone
9198284387
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community Foundations

Official website

Reported finances

Revenue
$143,714,496
Expenses
$44,987,263
Assets
$569,085,346
Liabilities
$43,978,093

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

Leadership & pay

25 people listed

Executive titles in this filing

  • JENNIFER TOLLE WHITESIDE (PRESIDENT & CEO)
  • SARAH MANN WILLCOX (EXECUTIVE DIRECTOR-NCNG)

Highest reported compensation

  • JENNIFER TOLLE WHITESIDE (PRESIDENT & CEO): $331,829 total reported compensation
  • WILSON SIMMONS (CHIEF FINANCIAL & ADMIN): $198,170 total reported compensation
  • KATHRYN R HOLDING (VP, PHILANTHROPIC SERVICES): $170,493 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 nccf is the single statewide community foundation serving North Carolina and was created in 1988 to build capacity through philanthropy. The nccf administers over 1,300 component funds established to provide long-term support of a broad range of our donors' philanthropic goals, including community needs, nonprofit organizations and scholarships across North Carolina, with an emphasis on underserved areas. An important component of the nccf's mission is to ensure that rural philanthropy has a voice at local, regional and national levels.

What it reported doing in 2024

The North Carolina community foundation serves as fiscal sponsor for the North Carolina network of grantmakers, a membership organization of foundations, corporate-giving programs and donor advised funds that grant to North Carolina charitable causes. The network is sustained by grants from other foundations, as well as service revenue. For the year ended march 31, 2025, the network generated service revenue of $335,023 from membership income, conference/seminar registration payments, and fee-for-service revenue.

Operating model

Revenue model
Donor-supported. 77% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 80% 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 total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 75
  • Accountability: 100
  • Sustainability: 88
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 35.9%; rating input score 36
  • Program expense ratio: 91.7%; rating input score 92
  • Fundraising efficiency: $232.31 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 33rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 95.1%; rating input score 95; 27th 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: 68.7%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 12.65; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: 14.2% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 14% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 10.1% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 35.9% of revenue deployed · 91.7% of spending went to programs
  • Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 5 filed program accomplishments · $41.3M in reported program spending
  • Leadership: top reported pay $332K · 25 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 41 of 43 current checks pass · 2 findings to review
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 739 filed money-flow records
  • Related organizations: 683 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 36/100.
  • High — Transparency & Controls: Foreign activity oversight: 6 of 8 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.