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← NORTH CAROLINA SCHOOL OF SCIENCE & MATHEMATICS FOUNDATION

Form 990 for tax year 2023

Filed by NORTH CAROLINA SCHOOL OF SCIENCE & MATHEMATICS FOUNDATION.

Totals

Total revenue
$6,020,658
Total expenses
$8,867,822
Contributions and grants received
$4,447,702
Grants paid
$4,439,191
Program service revenue
$0
Investment income
$1,572,956
Other revenue
$0
Total assets, end of year
$45,015,098
Total liabilities, end of year
$2,853,153
Net assets or fund balances, end of year
$42,161,945
Program services expenses (Part IX)
$6,786,725
Management and general expenses
$766,833
Fundraising expenses
$1,314,264
Program service expenses (Part III)
$6,786,725

Program services were 76.5% 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.

  • 1f · All other contributions, gifts and grants

    $4,447,702

  • 1g · Noncash contributions included above

    $190,700

  • 3 · Investment income

    total $719,000 · excluded $719,000

  • 7a · Gross sales of assets other than inventory

    securities $2,233,567

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

    securities $1,379,611

  • 7c · Gain or loss

    securities $853,956

  • 7d · Net gain or loss

    total $853,956 · excluded $853,956

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,439,191 · program services $4,439,191

  • 5 · Compensation of officers, directors and key employees

    total $379,015 · program services $205,989 · management and general $37,844 · fundraising $135,182

  • 7 · Other salaries and wages

    total $1,741,025 · program services $946,220 · management and general $173,840 · fundraising $620,965

  • 11c · Fees: accounting

    total $68,275 · management and general $68,275

  • 11e · Fees: professional fundraising services

    total $95,174 · fundraising $95,174

  • 11f · Fees: investment management

    total $72,221 · management and general $72,221

  • 11g · Fees: other

    total $121,638 · program services $41,388 · management and general $4,240 · fundraising $76,010

  • 17 · Travel

    total $252,833 · program services $209,077 · management and general $1,904 · fundraising $41,852

  • 24a · Other expenses: SUPPLIES

    total $500,767 · program services $351,798 · management and general $125,478 · fundraising $23,491

  • 24b · Other expenses: OTHER SERVICES

    total $412,184 · management and general $201,457 · fundraising $210,727

  • 24c · Other expenses: FOOD

    total $311,697 · program services $194,192 · management and general $53,015 · fundraising $64,490

  • 24d · Other expenses: MISCELLANEOUS

    total $153,396 · program services $90,043 · management and general $19,256 · fundraising $44,097

  • 24e · All other expenses

    total $320,406 · program services $308,827 · management and general $9,303 · fundraising $2,276

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,371,189 · end of year $681,527

  • 3 · Pledges and grants receivable

    beginning of year $5,496,029 · end of year $4,180,735

  • 4 · Accounts receivable

    beginning of year $19,484 · end of year $16,994

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

    $60,540

  • 10c · Land, buildings and equipment, net

    beginning of year $60,540 · end of year $60,540

  • 12 · Investments: other securities

    beginning of year $38,110,050 · end of year $40,033,897

  • 15 · Other assets

    beginning of year $41,405 · end of year $41,405

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,666,101 · end of year $2,853,153

  • 27 · Net assets without donor restrictions

    beginning of year $5,432,840 · end of year $5,427,834

  • 28 · Net assets with donor restrictions

    beginning of year $37,999,756 · end of year $36,734,111

Mission and programs · 2023

Mission

THE FOUNDATION OPERATES EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES INCLUDING, BUT NOT LIMITED TO, RECEIVING, ADMINISTERING AND OBTAINING FUNDS FOR THE SUPPORT OF THE ACADEMIC AND EDUCATIONAL PROGRAMS OF THE NORTH CAROLINA SCHOOL OF SCIENCE AND MATHEMATICS.

Activities or mission (Part I)

THE FOUNDATION WAS ORGANIZED TO RECEIVE, ADMINISTER, AND OBTAIN FUNDS FOR THE SUPPORT OF THE ACADEMIC AND EDUCATIONAL PROGRAMS OF THE NORTH CAROLINA SCHOOL OF SCIENCE AND MATHEMATICS.

  • THE FOUNDATION WAS ORGANIZED TO RECEIVE, ADMINISTER, AND OBTAIN FUNDS FOR THE SUPPORT OF THE ACADEMIC AND EDUCATIONAL PROGRAMS OF THE NORTH CAROLINA SCHOOL OF SCIENCE AND MATHEMATICS.

    Expenses $6,786,725 · Grants $4,439,191

As filed on the 2023 return.

Listed in Part VII

  • MAYA K AJMERA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • STEVEN ANDERSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DIANNE C BAILEY

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • STEPHANIE BASS

    EX-OFFICIO BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DAVID J BENNETT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOE F BRITT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TAYLOR BROCKMAN

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOANNE CHEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ADRIENNE CLOUGH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JENNY P DISSEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • HAN FEUNG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ZACK FOWLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LOUIS GORDON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KIM GRAGG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • AKHIL JARIWALA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ANASTASIA KORNEGAY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GINA LOFTEN

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • KATHERINE G MANUEL

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • EMILY MARTINE

    EX-OFFICIO BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • GRANT MEANS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARY U MUSACCHIA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • SCOTT OGLE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHRIS PAUL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ROHAN PAUL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARGARET POWELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • LESHAWNDRA PRICE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KAREN REID

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • TODD ROBERTS

    EX-OFFICIO NONVOTING BOARD MEMBER

    Total calculated
    $422,728
    From this org
    $0
    From related orgs
    $318,839
    Other
    $103,889
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $265,403 related
    Bonus
    $0 + $46,836 related
    Other
    $0 + $6,600 related
    Deferred
    $0 + $96,180 related
    Nontaxable benefits
    $0 + $7,709 related
    Filer's total
    $0 + $422,728 related

  • MARY ROEDERER

    EX-OFFICIO BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MICHELLE SOLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHARLES F STONE III

    EX-OFFICIO NONVOTING BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CHARLIE STONE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JEFF TANG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • BARBARA J COURY

    PRESIDENT; ASST SECRETARY

    Total calculated
    $193,169
    From this org
    $0
    From related orgs
    $148,466
    Other
    $44,703
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $148,466 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $37,146 related
    Nontaxable benefits
    $0 + $7,557 related
    Filer's total
    $0 + $193,169 related

  • LEAH ENGLEBRIGHT

    ASSISTANT TREASURER

    Total calculated
    $185,846
    From this org
    $0
    From related orgs
    $134,680
    Other
    $51,166
    Hours/week
    16 + 24 related

    Schedule J breakdown matched by us

    Base
    $0 + $132,180 related
    Bonus
    $0 + $2,500 related
    Other
    $0
    Deferred
    $0 + $41,441 related
    Nontaxable benefits
    $0 + $9,725 related
    Filer's total
    $0 + $185,846 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

None.

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 3:
THE COMPENSATION FOR THE EXECUTIVE DIRECTOR LEVEL IS BASED UPON STATE OF NC SALARY ALLOCATION.

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.

Disregarded entities

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

  • SSM HOLDINGS LLC

    REAL ESTATE HOLDING · NC · income $0 · assets $1,975

    Directly controlled by NORTH CAROLINA SCHOOL OF SCIENCE AND MATHEMATICS FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
13 May 2025
IRS schema version
2023v6.0
Source object
202531359349307833

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