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← MCNC ENDOWMENT

Form 990 for tax year 2024

Filed by MCNC ENDOWMENT.

Totals

Total revenue
$6,131,857
Total expenses
$225,718
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$6,131,857
Other revenue
$0
Total assets, end of year
$168,520,289
Total liabilities, end of year
$1,767,259
Net assets or fund balances, end of year
$166,753,030
Program services expenses (Part IX)
$220,151
Management and general expenses
$5,567
Fundraising expenses
$0
Program service expenses (Part III)
$220,151

Program services were 97.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $5,280,879 · excluded $5,280,879

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $52,366,814

  • 7b · Less cost or other basis and sales expenses

    securities $51,515,836

  • 7c · Gain or loss

    securities $850,978 · other assets $0

  • 7d · Net gain or loss

    total $850,978 · excluded $850,978

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11f · Fees: investment management

    total $204,702 · program services $204,702

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $444 · program services $444

  • 17 · Travel

    total $6 · program services $6

  • 20 · Interest

    total $5,567 · management and general $5,567

  • 23 · Insurance

    total $9,805 · program services $9,805

  • 24a · Other expenses: Miscellaneous Expense

    total $4,411 · program services $4,411

  • 24b · Other expenses: Training

    total $783 · program services $783

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $320,317 · end of year $1,876,614

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $111,408,064 · end of year $111,932,441

  • 12 · Investments: other securities

    beginning of year $49,234,745 · end of year $54,711,234

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $30,179 · end of year $1,767,259

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $160,932,947 · end of year $166,753,030

Mission and programs · 2024

Mission

MCNC ENDOWMENT IS ORGANIZED AND IS TO BE OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSES OF MCNC, AN NC NONPROFIT CORPORATION.

  • CONDUCTING CHARITABLE, EDUCATIONAL, AND SCIENTIFIC OBJECTIVES ON BEHALF OF MCNC, AND FOR THE PUBLIC PURPOSE OF PROMOTING SCIENTIFIC RESEARCH AND EDUCATION TO ENCOURAGE THE DEVELOPMENT OF THE ELECTRONIC AND INFORMATION TECHNOLOGY INDUSTRIES IN THE STATE OF NORTH CAROLINA.

    Expenses $220,151

As filed on the 2024 return.

Listed in Part VII

  • Tracy Doaks

    President & CEO

    Total calculated
    $501,244
    From this org
    $0
    From related orgs
    $463,333
    Other
    $37,911
    Hours/week
    0.4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,333 related
    Bonus
    $0 + $117,000 related
    Other
    $0
    Deferred
    $0 + $33,211 related
    Nontaxable benefits
    $0 + $4,700 related
    Filer's total
    $0 + $501,244 related

  • Charles Maimone

    Director

    Total calculated
    $0
    Hours/week
    0.2 + 0.1 related

  • Cynthia Frost

    Director

    Total calculated
    $0
    Hours/week
    0.3

  • Mark Yusko

    Director

    Total calculated
    $0
    Hours/week
    0.3

  • Neal Triplett

    Chair

    Total calculated
    $0
    Hours/week
    0.3

  • Sara Morgan

    Director

    Total calculated
    $0
    Hours/week
    0.3

  • Ward E Sax

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.2

  • John Sean Doyle

    Secretary

    Total calculated
    $274,571
    From this org
    $0
    From related orgs
    $232,095
    Other
    $42,476
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $216,496 related
    Bonus
    $0 + $15,599 related
    Other
    $0
    Deferred
    $0 + $24,178 related
    Nontaxable benefits
    $0 + $18,298 related
    Filer's total
    $0 + $274,571 related

  • Sarah Taylor

    Treasurer

    Total calculated
    $296,423
    From this org
    $0
    From related orgs
    $251,940
    Other
    $44,483
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $233,940 related
    Bonus
    $0 + $18,000 related
    Other
    $0
    Deferred
    $0 + $26,070 related
    Nontaxable benefits
    $0 + $18,413 related
    Filer's total
    $0 + $296,423 related

  • Shirley Jennings

    Asst. Secretary

    Total calculated
    $167,104
    From this org
    $0
    From related orgs
    $142,996
    Other
    $24,108
    Hours/week
    0.4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $131,386 related
    Bonus
    $0 + $11,610 related
    Other
    $0
    Deferred
    $0 + $14,636 related
    Nontaxable benefits
    $0 + $9,472 related
    Filer's total
    $0 + $167,104 related

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

  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 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)

Schedule J, Part I, Line 5a Compensation contingent on revenues of the organization
MCNC'S PRESIDENT HAS THE POTENTIAL TO RECEIVE AN ANNUAL BONUS BASED ON SEVERAL FACTORS MEASURING IMPROVEMENTS OVER THE PRIOR YEAR, ONE FACTOR BEING REVENUE GROWTH, AFTER APPROVAL BY THE BOARD OF DIRECTORS.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • MCNC

    501(c)(3) · Broadband Tech · NC

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
24 February 2026
IRS schema version
2024v5.1
Source object
202620559349301752

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