Nc Idea
- Assets
- $52.9m
- Revenue
- $3.1m
- Investments
- $49.3m
- Employees
- 0
- Location
- Durham, NC
- Founding
- 11/2002
- Data as of
- 06/2023
- EIN
- 01-0702442
Organization Overview
Nc Idea is located in Durham, NC. The organization was established in 2002. According to its NTEE Classification (U41) the organization is classified as: Computer Science, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. NC Idea is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, NC Idea generated $3.1m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $6.3m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, NC Idea has awarded 827 individual grants totaling $15,980,060. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PERFORM CERTAIN FUNCTIONS OF, AND/OR CARRY OUT CERTAIN PURPOSES OF THE COUNCIL FOR ENTREPRENEURIAL DEVELOPMENT.
Describe the Organization's Program Activity:
NC IDEA AIDED IN THE FORMATION, FINANCING, AND GROWTH OF EARLY-STAGE TECHNOLOGY COMPANIES THROUGH MENTORING, OUTREACH ACTIVITIES, AND TECHNOLOGY COMMERCIALIZATION GRANTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas R Ruhe CEO | 40 | $405,692 | |
Patti Gillenwater Director | 0.5 | $0 | |
Peyton Anderson Board Chair | 0.5 | $0 | |
Greg Brown Director | 0.5 | $0 | |
Dr Garrett Hinshaw Director | 0.5 | $0 | |
Linda Hall Treasurer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Convergent Nonprofit Solutions Llc | 6/29/21 | $136,415 |
Entrepreneurial Learning Initiative | 6/29/21 | $91,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $126,112 |
| Interest on Savings | $41,724 |
| Dividends & Interest | $647,827 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,794,010 |
| Capital Gain Net Income | $1,794,010 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $512,354 |
| Total Revenue | $3,122,027 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $405,692 |
| Other employee salaries and wages | $1,088,621 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $416,354 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $26,183 |
| Printing and publications | $0 |
| Other expenses | $482,386 |
| Total operating and administrative expenses | $2,869,465 |
| Contributions, gifts, grants paid | $3,479,170 |
| Total expenses and disbursements | $6,348,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,195,125 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $587,584 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $68,973 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $49,279,375 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $733,755 |
| Total assets | $52,864,812 |
| Accounts payable and accrued expenses | $417,450 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $589,087 |
| Total liabilities | $1,006,537 |
Grants Awarded
Over the last fiscal year, Nc Idea has awarded $3,479,170 in support to 168 organizations.
| Grant Recipient | Amount |
|---|---|
A-B TECH SMALL BUSINESS CENTER PURPOSE: ENGAGE GRANTS | $5,000 |
ACTA SOLUTIONS LLC PURPOSE: SEED GRANTS | $8,790 |
ALAMANCE COMMUNITY COLLEGE PURPOSE: ENGAGE GRANTS | $5,000 |
ANIMAL CANCER DX PURPOSE: SEED GRANTS | $50,000 |
ALGORHYTHMIC LABS PURPOSE: MICRO GRANTS | $7,500 |
ANYBODY CLOTHING PURPOSE: MICRO GRANTS | $2,500 |