North Carolina Legal Education Assistance Foundation

Nonprofit profile at a glance

EIN
561682398
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9198456089
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$670,091
Expenses
$499,224
Assets
$1,347,057
Liabilities
$618

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

Leadership & pay

13 people listed

Executive titles in this filing

  • MICHAEL DAVID WATERS (PRESIDENT)

Highest reported compensation

  • BRANDI LEIGH WICCLAIR (EXECUTIVE DI): $121,881 total reported compensation

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

Overview

Mission

Provides educational loan repayment assistance to North Carolina public interest attorneys that meet qualifications.

What it reported doing in 2024

Provided educational loan repayment assistance to North Carolina public interest attorneys.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 67% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 70
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 62.3%; rating input score 62
  • Program expense ratio: 81.2%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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; 63rd 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: NotApplicable
    • 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: 25.5%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 2.7; rating input score 73; 73rd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 24.4%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: -2.3% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -0% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: 13.2% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 62.3% of revenue deployed · 81.2% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $405K in reported program spending
  • Leadership: top reported pay $122K · 13 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.