Wake County Bar Association Foundation

Nonprofit profile at a glance

EIN
561673401
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Raleigh, NC, USA
Phone
9196779903
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$248,323
Expenses
$167,145
Assets
$345,431
Liabilities
$4,552

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

Leadership & pay

12 people listed

Executive titles in this filing

  • KIMBERLY MILLER (PRESIDENT ELECT)
  • SARAH PRIVETTE (PRESIDENT)
  • WHITNEY VON HAAM (EXECUTIVE DIRECTOR)

Highest reported compensation

  • WHITNEY VON HAAM (EXECUTIVE DIRECTOR): $90,963 total reported compensation

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

Overview

Mission

To promote community activities regarding the legal profession

What it reported doing in 2024

To promote and provide scholarships for the study of law and research therein; to foster and maintain the honor and integrity of the law profession; and to promote the study of law and the continuing education of lawyers

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 93% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 66
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.1%; rating input score 69
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 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: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 32.7%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 2.07; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: -11.3% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 6.9% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 69.1% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $167K in reported program spending
  • Leadership: top reported pay $91K · 12 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 4 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: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.