Totals
- Total revenue
- $4,226,744
- Total expenses
- $197,966
- Contributions and grants received
- $155,619
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $4,071,125
- Other revenue
- $0
- Total assets, end of year
- $160,963,126
- Total liabilities, end of year
- $30,179
- Net assets or fund balances, end of year
- $160,932,947
- Program services expenses (Part IX)
- $193,012
- Management and general expenses
- $4,954
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $193,012
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.
-
1d · Related organizations
$155,619
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $231,589 · unrelated business -$43,029 · excluded $274,618
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $48,673,941
-
7b · Less cost or other basis and sales expenses
securities $44,834,405
-
7c · Gain or loss
securities $3,839,536 · other assets $0
-
7d · Net gain or loss
total $3,839,536 · excluded $3,839,536
-
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 $172,604 · program services $172,604
-
11g · Fees: other
total $468 · program services $0 · management and general $468 · fundraising $0
-
20 · Interest
total $4,486 · management and general $4,486
-
24a · Other expenses: Miscellaneous Expense
total $19,134 · program services $19,134
-
24b · Other expenses: Training
total $1,266 · program services $1,266
-
24c · Other expenses: Licenses & Permits
total $8 · program services $8
-
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 $410,834 · end of year $320,317
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
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
end of year $0
-
11 · Investments: publicly traded securities
beginning of year $97,129,457 · end of year $111,408,064
-
12 · Investments: other securities
beginning of year $45,816,233 · end of year $49,234,745
-
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 $24,730 · end of year $30,179
-
22 · Loans and payables to officers and key people
end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $143,331,794 · end of year $160,932,947
Mission and programs · 2023
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 $193,012
As filed on the 2023 return.
Listed in Part VII
-
Tracy Doaks
President & CEO
- Total calculated
- $494,196
- From this org
- $0
- From related orgs
- $456,751
- Other
- $37,445
- Hours/week
- 0.4 + 40.4 related
Schedule J breakdown matched by us
- Base
- $0 + $336,751 related
- Bonus
- $0 + $120,000 related
- Other
- $0
- Deferred
- $0 + $29,775 related
- Nontaxable benefits
- $0 + $7,670 related
- Filer's total
- $0 + $494,196 related
-
Charles Maimone
Director
- Total calculated
- $0
- Hours/week
- 0.2
-
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
- $310,718
- From this org
- $0
- From related orgs
- $232,827
- Other
- $77,891
- Hours/week
- 0.5 + 41.8 related
Schedule J breakdown matched by us
- Base
- $0 + $215,603 related
- Bonus
- $0 + $17,224 related
- Other
- $0
- Deferred
- $0 + $26,630 related
- Nontaxable benefits
- $0 + $51,261 related
- Filer's total
- $0 + $310,718 related
-
Sarah Taylor
Treasurer
- Total calculated
- $80,751
- From this org
- $0
- From related orgs
- $57,735
- Other
- $23,016
- Hours/week
- 0.5 + 40 related
-
Shirley Jennings
Asst. Secretary
- Total calculated
- $166,014
- From this org
- $0
- From related orgs
- $135,111
- Other
- $30,903
- Hours/week
- 0 + 40.4 related
Schedule J breakdown matched by us
- Base
- $0 + $124,245 related
- Bonus
- $0 + $10,866 related
- Other
- $0
- Deferred
- $0 + $13,573 related
- Nontaxable benefits
- $0 + $17,330 related
- Filer's total
- $0 + $166,014 related
-
Rachel J Pisciotta
Treasurer (Former)
- Total calculated
- $234,815
- From this org
- $0
- From related orgs
- $151,042
- Other
- $83,773
- Hours/week
- 0.5 + 21.6 related
Schedule J breakdown matched by us
- Base
- $0 + $151,042 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $15,514 related
- Nontaxable benefits
- $0 + $68,259 related
- Filer's total
- $0 + $234,815 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
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.
-
501(c)(3) · Broadband Tech · NC
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 1 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202501219349300545
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