Nc State Engineering Foundation Inc
- Assets
- $173.0m
- Revenue
- $18.4m
- Investments
- $141.1m
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 03/1949
- Data as of
- 06/2022
- EIN
- 56-6046987
Organization Overview
Nc State Engineering Foundation Inc is located in Raleigh, NC. The organization was established in 1949. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. NC State Engineering Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, NC State Engineering Foundation Inc generated $18.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $8.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
AIDS AND PROMOTES, BY FINANCIAL ASSISTANCE AND OTHERWISE, EDUCATIONAL, RESEARCH, AND EXTENSION IN THE COLLEGE OF ENGINEERING AT NORTH CAROLINA STATE UNIVERSITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
AIDS AND PROMOTES, BY FINANCIAL ASSISTANCE AND OTHERWISE, EDUCATIONAL, RESEARCH, AND EXTENSION IN THE COLLEGE OF ENGINEERING AT NORTH CAROLINA STATE UNIVERSITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wesley Covell Finance & Audit Chair | OfficerTrustee | 1 | $0 |
Nelson Peeler Immediate Past President | OfficerTrustee | 1 | $0 |
Helene Lollis College And Alumni Engagment Chair | OfficerTrustee | 1 | $0 |
Pamela Townsend Advocacy Chair | OfficerTrustee | 1 | $0 |
Linda Butler Norc Chair | OfficerTrustee | 1 | $0 |
Scott Stabler Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $52,150 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,090,128 |
| Noncash contributions included in lines 1a–1f | $1,773,812 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,142,278 |
| Total Program Service Revenue | $19,923 |
| Investment income | $172,097 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,094,361 |
| Net Income from Fundraising Events | -$16,217 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,412,442 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,487,559 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $567,284 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,919 |
| Fees for services: Accounting | $75,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $183,276 |
| Fees for services: Other | $0 |
| Advertising and promotion | $97,422 |
| Office expenses | $80,605 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,843 |
| Travel | $323,796 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $130,484 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,007 |
| All other expenses | $252,483 |
| Total functional expenses | $8,397,895 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $25,691,146 |
| Pledges and grants receivable | $6,174,064 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $141,068,435 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,738 |
| Total assets | $172,988,383 |
| Accounts payable and accrued expenses | $227,363 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,232,246 |
| Total liabilities | $1,459,609 |
| Net assets without donor restrictions | $7,492,963 |
| Net assets with donor restrictions | $164,035,811 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $172,988,383 |
Grants Recieved
Over the last fiscal year, we have identified 39 grants that Nc State Engineering Foundation Inc has recieved totaling $6,516,849.
| Awarding Organization | Amount |
|---|---|
Nc State Investment Fund Inc Raleigh, NC PURPOSE: SCHOLARSHIPS, FACULTY SUPPORT, DEPARTMENTAL SUPPORT AND FACILITY SUPPORT | $5,013,476 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $361,950 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $228,500 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $127,000 |
Jandy Ammons Foundation Inc Raleigh, NC PURPOSE: ENVIRONMENTAL LAB | $125,000 |
Jandy Ammons Foundation Inc Raleigh, NC PURPOSE: ENVIRONMENTAL LAB | $125,000 |
Endowment Analysis
| Beg. Balance | $131,781,098 |
| Earnings | $3,309,738 |
| Net Contributions | $10,490,577 |
| Other Expense | $4,573,500 |
| Ending Balance | $141,007,913 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Transylvania Vocational Services Inc Brevard, NC | $52,218,118 | $34,183,028 |
University System Of Georgia Foundation Inc Atlanta, GA | $572,651,205 | $27,479,908 |
Champions For Education Inc Charlotte, NC | $4,769,828 | $14,830,024 |
Atlanta Neighborhood Charter School Inc Atlanta, GA | $8,677,734 | $16,201,042 |
Campus Development Foundation Inc Chattanooga, TN | $70,898,605 | $12,373,348 |
Hephzibah Charter Foundation Inc Hephzibah, GA | $10,181,498 | $8,307,126 |
Foundation Properties Inc Columbus, GA | $108,758,689 | $6,742,153 |
Nc State Engineering Foundation Inc Raleigh, NC | $172,988,383 | $18,412,442 |
Georgia Student Scholarship Organization Sso Inc Cumming, GA | $4,146,288 | $9,720,252 |
St Christophers School Foundation Richmond, VA | $94,106,126 | $9,680,251 |
Lowes Foundation Mooresville, NC | $8,794,184 | $2,155,365 |
Knox Education Foundation Knoxville, TN | $6,393,317 | $5,852,579 |