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Nonprofiteer
← LOUISBURG COLLEGE

Form 990 for tax year 2024

Filed by LOUISBURG COLLEGE.

Totals

Total revenue
$16,943,070
Total expenses
$16,934,374
Contributions and grants received
$968,761
Grants paid
$3,351,708
Program service revenue
$14,740,259
Investment income
$1,073,017
Other revenue
$161,033
Total assets, end of year
$44,138,723
Total liabilities, end of year
$17,630,345
Net assets or fund balances, end of year
$26,508,378
Program services expenses (Part IX)
$12,640,478
Management and general expenses
$4,126,237
Fundraising expenses
$167,659
Program service expenses (Part III)
$12,640,478

Program services were 74.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • D TADLEY DEBERRY

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2 + 1 related
  • SHARON BRYSON

    1ST VICE CHAIR

    Total calculated
    $0
    Hours/week
    2 + 1 related
  • DR BOBBIE RICHARDSON

    2ND VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • EMILY HODGES

    SECRETARY

    Total calculated
    $0
    Hours/week
    2
  • HAVEN C ALLEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • LUCY T ALLEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • BILL BODDIE JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • MATTHEW C BOUCHARD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • REVEREND CHRIS BRADY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • DR STEVEN E BROOKS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • DAVID J COSTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • WILLIAM R CROSS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • GLYNIS HILL-CHANDLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • JOHN A HOPKINS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • LINDA F JOHNSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • LYNDA C LUMPKIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • WILLIAM NORRIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • THOMAS PARRISH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • MAX G REECE JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • FRANKLIN ROBERTS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • WILLIAM C SHELTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • LYDIA M SMITH

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • EMMA B STEWART

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • CONRAD BOYD STURGES III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • WARD SYLVESTER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • DR LINDA RWILSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1
  • DR GARY M BROWN

    PRESIDENT

    Total calculated
    $255,762
    From this org
    $232,007
    From related orgs
    $0
    Other
    $23,755
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $232,007
    Bonus
    $0
    Other
    $0
    Deferred
    $14,520
    Nontaxable benefits
    $9,235
    Filer's total
    $255,762

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE COLLEGE PROVIDES A HOUSE FOR ITS PRESIDENT AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE COLLEGE. ACCORDINGLY, SUCH LODGING IS NOT INCLUDED IN TAXABLE INCOME.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2024
Filed
13 April 2026
IRS schema version
2024v5.5
Source object
202601039349300405

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