Nc Student Aid Association Inc
- Assets
- $102.3m
- Revenue
- $23.9m
- Investments
- $0.0
- Employees
- 31
- Location
- Raleigh, NC
- Founding
- 08/1955
- Data as of
- 06/2021
- EIN
- 56-0650623
Organization Overview
Nc Student Aid Association Inc is located in Raleigh, NC. The organization was established in 1955. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2021, NC Student Aid Association Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. NC Student Aid Association Inc 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 06/2021, NC Student Aid Association Inc generated $23.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $48.1m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, NC Student Aid Association Inc has awarded 13 individual grants totaling $113,949,450. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL SUPPORT FOR ATHLETIC SCHOLARSHIPS AND FACILITIES FOR NC STATE UNIVERSITY.
Describe the Organization's Program Activity:
FACILITY IMPROVEMENTS FOR NC STATE UNIVERSITY.
FINANCING SCHOLARSHIPS AWARDED BY NC STATE UNIVERSITY TO NEEDY AND WORTHY STUDENTS.
OTHER NC STATE UNIVERSITY SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bobby Purcell Former Executive Director (retired June 2020) | 40 | $187,854 | |
Benjamin J Broussard Executive Director | Officer | 40 | $158,642 |
James Correll Associate Executive Director | 40 | $137,945 | |
Kimberley W Foresta Chief Financial Officer | Officer | 40 | $126,441 |
Media S Hooks Associate Director Of Marketing & Communications | 40 | $122,309 | |
George W Pridgen Associate Director Of Annual Giving | 40 | $100,144 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Coman Publishing Publications | 6/29/17 | $331,197 |
Vab Catering Catering Services | 6/29/17 | $106,333 |
Koonce Wooten & Haywood Llp Accounting | 6/29/17 | $126,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,852,260 |
| Noncash contributions included in lines 1a–1f | $225,850 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,852,260 |
| Total Program Service Revenue | $0 |
| Investment income | $333,600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $598,982 |
| Net Income from Fundraising Events | $5,035 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,877,668 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $39,441,671 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $418,328 |
| Compensation of current officers, directors, key employees. | $101,763 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,601,640 |
| Pension plan accruals and contributions | $245,455 |
| Other employee benefits | $219,631 |
| Payroll taxes | $142,709 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $59,498 |
| Fees for services: Accounting | $44,824 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $392,049 |
| Fees for services: Other | $0 |
| Advertising and promotion | $165,998 |
| Office expenses | $92,936 |
| Information technology | $154,397 |
| Royalties | $0 |
| Occupancy | $173,652 |
| Travel | $95,419 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,309 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,124,288 |
| Insurance | $64,363 |
| All other expenses | $55,427 |
| Total functional expenses | $48,072,419 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,612,917 |
| Savings and temporary cash investments | $13,309,179 |
| Pledges and grants receivable | $17,220,369 |
| Accounts receivable, net | $84,402 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $34,060 |
| Net Land, buildings, and equipment | $25,288,246 |
| Investments—publicly traded securities | $38,557,804 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,189,580 |
| Total assets | $102,296,557 |
| Accounts payable and accrued expenses | $888,377 |
| Grants payable | $0 |
| Deferred revenue | $3,072,710 |
| Tax-exempt bond liabilities | $10,068,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,312,402 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,362,557 |
| Total liabilities | $33,704,046 |
| Net assets without donor restrictions | $17,853,081 |
| Net assets with donor restrictions | $50,739,430 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $102,296,557 |
Grants Awarded
Over the last fiscal year, Nc Student Aid Association Inc has awarded $39,441,671 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NC STATE UNIVERSITY PURPOSE: NCSU CAPITAL PROJECTS | $25,395,423 |
NC STATE UNIVERSITY PURPOSE: NCSU STUDENT ATHLETIC SCHOLARSHIPS | $13,908,948 |
NC STATE UNIVERSITY PURPOSE: OTHER SUPPORT | $137,300 |
Grants Recieved
Over the last fiscal year, we have identified 24 grants that Nc Student Aid Association Inc has recieved totaling $3,454,530.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $2,408,860 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $315,000 |
Nc State Investment Fund Inc Raleigh, NC PURPOSE: SCHOLARSHIPS, FACULTY SUPPORT, DEPARTMENTAL SUPPORT AND FACILITY SUPPORT | $302,148 |
Winston-Salem Foundation Winstonsalem, NC PURPOSE: 2 GRANT(S) FOR VARYING PURPOSES | $102,500 |
R A Bryan Foundation Inc Goldsboro, NC PURPOSE: EDUCATION | $100,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $52,000 |
Endowment Analysis
| Beg. Balance | $30,666,228 |
| Earnings | $9,859,202 |
| Net Contributions | $1,847,023 |
| Grants | $4,805,003 |
| Ending Balance | $37,567,450 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charles Koch Foundation Arlington, VA | $813,753,220 | $68,721,556 |
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Meeting Street Schools Charleston, SC | $31,326,851 | $31,027,510 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |