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← MCNC

Form 990 for tax year 2024

Filed by MCNC.

Totals

Total revenue
$74,135,271
Total expenses
$66,051,698
Contributions and grants received
$8,165,108
Grants paid
$0
Program service revenue
$65,656,828
Investment income
$306,329
Other revenue
$7,006
Total assets, end of year
$175,057,586
Total liabilities, end of year
$54,945,797
Net assets or fund balances, end of year
$120,111,789
Program services expenses (Part IX)
$55,820,217
Management and general expenses
$10,231,481
Fundraising expenses
$0
Program service expenses (Part III)
$55,820,217

Program services were 84.5% 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.

  • 1e · Government grants (contributions)

    $8,165,108

  • 2a · Program service revenue: Contract Revenue

    total $65,442,388 · related or exempt $65,382,388 · unrelated business $60,000

  • 2b · Program service revenue: ROU Asset Sales

    total $214,440 · related or exempt $214,440

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $368,675 · excluded $368,675

  • 6c · Rental income or loss

    real property $0 · personal property $0

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

    other assets $62,346

  • 7c · Gain or loss

    securities $0 · other assets -$62,346

  • 7d · Net gain or loss

    total -$62,346 · excluded -$62,346

  • 11a · Other revenue: Other Income

    total $7,006 · excluded $7,006

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $7,006

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $3,546,622 · program services $2,062,695 · management and general $1,483,927

  • 7 · Other salaries and wages

    total $13,351,751 · program services $9,229,765 · management and general $4,121,986

  • 8 · Pension plan contributions

    total $1,663,926 · program services $1,303,458 · management and general $360,468

  • 9 · Other employee benefits

    total $1,757,361 · program services $1,322,752 · management and general $434,609

  • 10 · Payroll taxes

    total $1,218,332 · program services $954,442 · management and general $263,890

  • 11d · Fees: lobbying

    total $89,006 · program services $89,006

  • 11g · Fees: other

    total $5,148,482 · program services $3,674,840 · management and general $1,473,642 · fundraising $0

  • 12 · Advertising and promotion

    total $45,491 · program services $45,491

  • 13 · Office expenses

    total $50,825 · program services $43,991 · management and general $6,834

  • 14 · Information technology

    total $4,657,990 · program services $4,555,778 · management and general $102,212

  • 16 · Occupancy

    total $3,200,237 · program services $2,652,854 · management and general $547,383

  • 17 · Travel

    total $200,352 · program services $177,624 · management and general $22,728

  • 19 · Conferences, conventions and meetings

    total $69,473 · program services $58,906 · management and general $10,567

  • 22 · Depreciation, depletion and amortization

    total $10,942,855 · program services $10,519,106 · management and general $423,749

  • 23 · Insurance

    total $364,029 · program services $269,406 · management and general $94,623

  • 24a · Other expenses: Leased Lines

    total $12,837,567 · program services $12,837,567

  • 24b · Other expenses: Repairs and Maintenance

    total $3,671,359 · program services $3,484,609 · management and general $186,750

  • 24c · Other expenses: Prov. For Fiber cut

    total $2,407,311 · program services $2,407,311

  • 24d · Other expenses: Colocation

    total $629,147 · program services $628,704 · management and general $443

  • 24e · All other expenses

    total $199,582 · program services -$498,088 · management and general $697,670 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $13,580,650 · end of year $24,865,495

  • 4 · Accounts receivable

    beginning of year $7,427,461 · end of year $16,817,684

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,992,613 · end of year $9,441,548

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

    $236,193,671

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

    $126,204,468

  • 10c · Land, buildings and equipment, net

    beginning of year $102,366,464 · end of year $109,989,203

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $15,287,100 · end of year $13,943,656

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,491,449 · end of year $8,974,763

  • 19 · Deferred revenue

    beginning of year $28,741,030 · end of year $43,013,923

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $3,393,593 · end of year $2,957,111

  • 27 · Net assets without donor restrictions

    beginning of year $111,112,574 · end of year $119,282,347

  • 28 · Net assets with donor restrictions

    beginning of year $915,642 · end of year $829,442

Mission and programs · 2024

Mission

TO PROVIDE ADVANCED ELECTRONIC AND INFORMATION TECHNOLOGIES TO THE NC EDUCATION COMMUNITY, PUBLIC HEALTH, AND GOVERNMENT AGENCIES AND TO BENEFIT ECONOMIC DEVELOPMENT IN NC.

  • MCNC PROVIDES TECHNICAL INFRASTRUCTURE TO EDUCATE, INNOVATE AND ENHANCE ECONOMIC DEVELOPMENT THROUGHOUT NORTH CAROLINA. MCNC SERVES THE NORTH CAROLINA PUBLIC SECTOR COMMUNITY BY PROVIDING HIGH QUALITY NETWORK INFRASTRUCTURE AND NETWORK RELATED SERVICES. MCNC PROVIDES THE WAN/BACKBONE AND INTERNET CONNECTIVITY TO STATE UNIVERSITIES, COMMUNITY COLLEGES, INDEPENDENT UNIVERSITIES AND COLLEGES, LOCAL EDUCATION AGENCIES (BASICALLY TO EACH COUNTY'S PUBLIC K-12 SCHOOL'S ADMINISTRATION), CHARTER SCHOOLS, PRIVATE K-12 SCHOOLS, LIBRARIES, RESEARCH INSTITUTIONS, PUBLIC HEALTH (FREE CLINICS & HOSPITAL LOCATIONS), AND GOVERNMENT AGENCIES. THESE SERVICES ARE PROVIDED WITH A SERVICE LEVEL AGREEMENT OF 99.99% "UP" TIME. MCNC ADDITIONALLY PROVIDES COLLOCATION/HOSTING OR BACKUP/STORAGE DATA.

    Expenses $55,820,217 · Revenue $65,596,828

As filed on the 2024 return.

Listed in Part VII

  • Ajit Sivadasan

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Charles Maimone

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Dennis Kekas

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Hope Williams

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Keith Werner

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Maria Thompson

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Myra Best

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Patrick Fleming

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Penny Gordon-Larsen

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Ray Carey

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Tracy Futhey

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Tracy Olson

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Vanessa Wrenn

    Director

    Total calculated
    $0
    Hours/week
    0.1

  • Edward Jacobson

    Vice President, COO

    Total calculated
    $367,217
    From this org
    $323,789
    From related orgs
    $0
    Other
    $43,428
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $294,137
    Bonus
    $29,652
    Other
    $0
    Deferred
    $33,061
    Nontaxable benefits
    $10,367
    Filer's total
    $367,217

  • John Doyle

    Secretary, General Counsel

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

    Schedule J breakdown matched by us

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

  • Sarah Taylor

    CFO

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

    Schedule J breakdown matched by us

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

  • Shirley Jennings

    Assistant Secretary

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

    Schedule J breakdown matched by us

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

  • Tracy Doaks

    President, CEO

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

    Schedule J breakdown matched by us

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

  • Christopher Beal

    VP, Enterprise IT & Cybersecurity Initiatives / CISO

    Total calculated
    $311,857
    From this org
    $266,370
    From related orgs
    $0
    Other
    $45,487
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $246,825
    Bonus
    $19,545
    Other
    $0
    Deferred
    $27,063
    Nontaxable benefits
    $18,424
    Filer's total
    $311,857

  • David Furiness

    Senior Director, CNE

    Total calculated
    $267,859
    From this org
    $233,657
    From related orgs
    $0
    Other
    $34,202
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $214,284
    Bonus
    $19,373
    Other
    $0
    Deferred
    $24,015
    Nontaxable benefits
    $10,187
    Filer's total
    $267,859

  • James Nester

    Senior Director, Marketing & Client Advocacy

    Total calculated
    $234,379
    From this org
    $196,199
    From related orgs
    $0
    Other
    $38,180
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $181,799
    Bonus
    $14,400
    Other
    $0
    Deferred
    $19,940
    Nontaxable benefits
    $18,240
    Filer's total
    $234,379

  • Jeremy Rollins

    Senior Manager, Outside Plant Engineering and Operations

    Total calculated
    $203,817
    From this org
    $168,164
    From related orgs
    $0
    Other
    $35,653
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,780
    Bonus
    $12,384
    Other
    $0
    Deferred
    $17,545
    Nontaxable benefits
    $18,108
    Filer's total
    $203,817

  • Matthew Kinney

    Senior Director, Human Resources

    Total calculated
    $221,406
    From this org
    $191,279
    From related orgs
    $0
    Other
    $30,127
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,435
    Bonus
    $15,844
    Other
    $0
    Deferred
    $19,981
    Nontaxable benefits
    $10,146
    Filer's total
    $221,406

  • Matthew Valenzisi

    Senior Director, Network Architecture and Management / Chief Network Architect

    Total calculated
    $282,580
    From this org
    $247,834
    From related orgs
    $0
    Other
    $34,746
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,795
    Bonus
    $20,039
    Other
    $0
    Deferred
    $25,443
    Nontaxable benefits
    $9,303
    Filer's total
    $282,580

  • Ruth Stafford

    Senior Director, Consulting Services

    Total calculated
    $227,320
    From this org
    $197,205
    From related orgs
    $0
    Other
    $30,115
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,690
    Bonus
    $16,515
    Other
    $0
    Deferred
    $20,369
    Nontaxable benefits
    $9,746
    Filer's total
    $227,320

  • David Brain

    Director, Enterprise IT Infrastructure & Cybersecurity

    Total calculated
    $240,528
    From this org
    $201,179
    From related orgs
    $0
    Other
    $39,349
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $185,807
    Bonus
    $15,372
    Other
    $0
    Deferred
    $21,089
    Nontaxable benefits
    $18,260
    Filer's total
    $240,528

  • Orlando Suitte

    Director, Core Engineering & Network Deployment

    Total calculated
    $238,004
    From this org
    $198,890
    From related orgs
    $0
    Other
    $39,114
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,413
    Bonus
    $14,477
    Other
    $0
    Deferred
    $20,934
    Nontaxable benefits
    $18,180
    Filer's total
    $238,004

  • Paul Kamen

    Senior Manager, Enterprise IT Services & Data

    Total calculated
    $214,486
    From this org
    $177,641
    From related orgs
    $0
    Other
    $36,845
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,041
    Bonus
    $13,600
    Other
    $0
    Deferred
    $18,658
    Nontaxable benefits
    $18,187
    Filer's total
    $214,486

  • Phillip Emer

    VP, Business Development

    Total calculated
    $288,897
    From this org
    $253,016
    From related orgs
    $0
    Other
    $35,881
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $233,816
    Bonus
    $19,200
    Other
    $0
    Deferred
    $25,611
    Nontaxable benefits
    $10,270
    Filer's total
    $288,897

  • William Parker

    Director, Network Operations

    Total calculated
    $214,675
    From this org
    $189,698
    From related orgs
    $0
    Other
    $24,977
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,819
    Bonus
    $13,879
    Other
    $0
    Deferred
    $19,737
    Nontaxable benefits
    $5,240
    Filer's total
    $214,675

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

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 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 Endowment

    501(c)(3) · Support MCNC · NC · controlled entity

    Directly controlled by MCNC

Provenance

Return type
form_990
Tax year
2024
Filed
24 February 2026
IRS schema version
2024v5.1
Source object
202600559349301720

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