The North Carolina Children's Museum

Nonprofit profile at a glance

EIN
202058235
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Chapel Hill, NC, USA
Phone
9199331455
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,471,821
Expenses
$1,656,325
Assets
$5,522,759
Liabilities
$4,291,122

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

Leadership & pay

19 people listed

Executive titles in this filing

  • JAIMIE HOLCOMB (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JAIMIE HOLCOMB (EXECUTIVE DIRECTOR): $257,214 total reported compensation

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

Overview

Mission

See schedule othe North Carolina children's museum provides hands-on learning experiences for young children aged 0-12 years and their caregivers. Educational programs include exhibits, storytimes, music programs, art classes, child development education for caregivers, field trips, and outreach to families in need.

What it reported doing in 2024

The North Carolina children's museum inspires children and the adults in their lives to learn through creative and puposeful play, with a focus on stem, the arts, child health and emerging literacy. Kidzu continues to provide interactive exhibits, participatory programs and activities, and community outreach to underserved children and families, as well as virtual opportunities for learning and engagement. In fiscal year 2025, the museum began operating a stem mobile museum to deliver hands-on exhibits and programming directly to schools and community events across North Carolina. Fully equipped with 9 exhibits for on-site stem learning, this mobile experience sparks curiosity and expands access to museum-quality learning statewide. (continued on schedule o)the mobile museum contains 9 exhibits that focus on stem through a lens on space science. The nine interrelated learning stations are: power station; digital design; aerodynamic test chamber; r.o.v. Command; quake; communication station; energy beam; robot; and energize.

Operating model

Revenue model
Donor-supported. 71% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 70
  • Accountability: 90
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.2%; rating input score 63
  • Program expense ratio: 56.1%; rating input score 56
  • Fundraising efficiency: $7.73 raised per $1 spent on fundraising; rating input score 30; 30th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -12.5%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 3.33; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.78; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 15.5%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 9.7% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 10.5% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: 15% per year; rating input score 100; 72nd percentile among comparable filings

Details

  • Where the money goes: 63.2% of revenue deployed · 56.1% of spending went to programs
  • Governance: 18 of 18 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $929K in reported program spending
  • Leadership: top reported pay $257K · 19 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 8 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 30/100.
  • High — Sustainability: Operating margin scored 14/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.