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← EDUCATION FOUNDATION SCHOLARSHIP ENDOWMENT TRUST

Form 990 for tax year 2024

Filed by EDUCATION FOUNDATION SCHOLARSHIP ENDOWMENT TRUST.

Totals

Total revenue
$19,702,991
Total expenses
$16,848,333
Contributions and grants received
$2,161,096
Grants paid
$16,596,503
Program service revenue
$0
Investment income
$17,541,895
Other revenue
$0
Total assets, end of year
$448,727,300
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$448,727,300
Program services expenses (Part IX)
$16,596,503
Management and general expenses
$251,830
Fundraising expenses
$0
Program service expenses (Part III)
$16,596,503

Program services were 98.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • TOM CHEWNING

    INVESTMENT COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    0

  • LOWRY CAUDILL

    INVESTMENT COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    0

  • DWIGHT STONE

    INVESTMENT COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    0

  • FRANK BRENNER

    INVESTMENT COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    0

  • VAUGHN MOORE

    INVESTMENT COMMITTEE MEMBER

    Total calculated
    $0
    Hours/week
    0

  • JOHN MONTGOMERY

    EXECUTIVE DIRECTOR

    Total calculated
    $590,661
    From this org
    $0
    From related orgs
    $553,703
    Other
    $36,958
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $452,606 related
    Bonus
    $0 + $90,260 related
    Other
    $0 + $10,837 related
    Deferred
    $0 + $19,800 related
    Nontaxable benefits
    $0 + $17,158 related
    Filer's total
    $0 + $590,661 related

  • DIANE ALDRIDGE

    CFO & GENERAL COUNSEL

    Total calculated
    $298,316
    From this org
    $0
    From related orgs
    $267,750
    Other
    $30,566
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $224,876 related
    Bonus
    $0 + $33,178 related
    Other
    $0 + $9,696 related
    Deferred
    $0 + $15,684 related
    Nontaxable benefits
    $0 + $14,882 related
    Filer's total
    $0 + $298,316 related

  • EMILY COBLE

    SENIOR DIRECTOR OF FINANCE

    Total calculated
    $141,403
    From this org
    $0
    From related orgs
    $119,935
    Other
    $21,468
    Hours/week
    0 + 40 related

  • KEN MACK

    SENIOR ASSOCIATE EXECUTIVE

    Total calculated
    $309,495
    From this org
    $0
    From related orgs
    $273,217
    Other
    $36,278
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $236,009 related
    Bonus
    $0 + $34,442 related
    Other
    $0 + $2,766 related
    Deferred
    $0 + $19,120 related
    Nontaxable benefits
    $0 + $17,158 related
    Filer's total
    $0 + $309,495 related

  • MATT TERRELL

    CHIEF STRATEGY & COMMUNICATIONS

    Total calculated
    $244,379
    From this org
    $0
    From related orgs
    $213,319
    Other
    $31,060
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $177,879 related
    Bonus
    $0 + $28,943 related
    Other
    $0 + $6,497 related
    Deferred
    $0 + $17,032 related
    Nontaxable benefits
    $0 + $14,028 related
    Filer's total
    $0 + $244,379 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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 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)

FORM 990, SCHEDULE J, PART II
THE COMPENSATION REPORTED ON SCHEDULE J, PART II (AND FORM 990, PART VII, SECTION A) FROM RELATED ORGANIZATIONS IS ALL SALARY PAID BY THE ENDOWMENT TRUST DOES NOT EMPLOY PERSONNEL; THEREFORE, A PORTION OF THE HAVE BEEN ALLOCATED TO THE EDUCATIONAL FOUNDATION SCHOLARSHIP ENDOWMENT EDUCATIONAL FOUNDATION, INC. EDUCATIONAL FOUNDATION SCHOLARSHIP SALARIES AND BENEFITS OF THE EDUCATIONAL FOUNDATION, INC. PERSONNEL TRUST.

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

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.

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER UNITRUSTS (5)

    T · CHARITABLE TRUST · NC

Provenance

Return type
form_990
Tax year
2024
Filed
12 May 2026
IRS schema version
2024v5.5
Source object
202611329349305301

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