The Exploris Foundation

Nonprofit profile at a glance

EIN
814851793
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-N 2016
Location
Raleigh, NC, USA
Phone
9197153690
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$84,095
Expenses
$412,126
Assets
$341,889
Liabilities
$0

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

Leadership & pay

11 people listed

Highest reported compensation

  • JOSH CORBAT (BOARD MEMBER): $103,769 total reported compensation
  • MICHELLE DUNCAN (BOARD MEMBER): $80,790 total reported compensation
  • KOREN MORGAN (TREASURER): $76,954 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 purpose of the exploris school foundation is to accept and manage gifts and donations that support the programs, facilities, and operations of the exploris school. The foundation enables the school to grow and meet the needs of its students and teachers, goals that could not be achieved solely through state and local funding.

What it reported doing in 2024

The exploris foundation managed gifts and donations that support the programs, facilities, and operations of the exploris school.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 94
  • Accountability: 53
  • Sustainability: 21
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 82.8%; rating input score 83
  • 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; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 54.5%; rating input score 55; 20th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -390.1%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.83; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 6.5%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 56.3% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: -43.3% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -11% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 82.8% of spending went to programs
  • Governance: 6 of 11 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $341K in reported program spending
  • Leadership: top reported pay $104K · 11 people listed
  • Consistency: 15 of 15 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Accountability: Independent voting board scored 55/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.