Nc Student Aid Association Inc
- Assets
- $117.9m
- Revenue
- $36.0m
- Investments
- $0.0
- Employees
- 26
- Location
- Raleigh, NC
- Founding
- 08/1955
- Data as of
- 06/2022
- 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 06/2022, NC Student Aid Association Inc employed 26 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 06/2022, NC Student Aid Association Inc generated $36.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $21.2m during the year ending 06/2022. 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 $110,287,221. 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
2022
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 |
|---|---|---|---|
Clyde Phillips Treasurer | OfficerTrustee | 4 | $0 |
Eddie Wetherill Vice President | OfficerTrustee | 4 | $0 |
Brian Mcmurray President | OfficerTrustee | 4 | $0 |
David Beam Immediate Past President | OfficerTrustee | 4 | $0 |
Brian Sischo Ex-Officio | Trustee | 1 | $0 |
Steve Warren Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Coman Publishing Publications | 6/29/17 | $331,197 |
Koonce Wooten & Haywood Llp Accounting | 6/29/17 | $126,800 |
Vab Catering Catering Services | 6/29/17 | $106,333 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $20,615 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,429,362 |
| Noncash contributions included in lines 1a–1f | $246,465 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,449,977 |
| Total Program Service Revenue | $4,343,722 |
| Investment income | $61,824 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $164,790 |
| Net Income from Fundraising Events | -$112,686 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,950,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,551,788 |
| 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. | $520,090 |
| Compensation of current officers, directors, key employees. | $114,210 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,285,072 |
| Pension plan accruals and contributions | $385,466 |
| Other employee benefits | $241,345 |
| Payroll taxes | $141,426 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $88,509 |
| Fees for services: Accounting | $73,792 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $346,146 |
| Fees for services: Other | $27,039 |
| Advertising and promotion | $234,683 |
| Office expenses | $101,258 |
| Information technology | $151,706 |
| Royalties | $0 |
| Occupancy | $13,555 |
| Travel | $215,693 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,617 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,114,254 |
| Insurance | $42,609 |
| All other expenses | $32,344 |
| Total functional expenses | $21,214,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,395,797 |
| Savings and temporary cash investments | $12,389,805 |
| Pledges and grants receivable | $22,735,091 |
| Accounts receivable, net | $31,703 |
| 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 | $26,242 |
| Net Land, buildings, and equipment | $24,188,968 |
| Investments—publicly traded securities | $42,044,045 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,041,700 |
| Total assets | $117,853,351 |
| Accounts payable and accrued expenses | $743,484 |
| Grants payable | $0 |
| Deferred revenue | $3,860,776 |
| Tax-exempt bond liabilities | $9,146,456 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $18,402,999 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,308,926 |
| Total liabilities | $33,462,641 |
| Net assets without donor restrictions | $13,877,472 |
| Net assets with donor restrictions | $70,513,238 |
| 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 | $117,853,351 |
Grants Awarded
Over the last fiscal year, Nc Student Aid Association Inc has awarded $15,551,788 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NC STATE UNIVERSITY PURPOSE: NCSU STUDENT ATHLETIC SCHOLARSHIPS | $12,363,246 |
NC STATE UNIVERSITY PURPOSE: NCSU CAPITAL PROJECTS | $3,061,492 |
NC STATE UNIVERSITY PURPOSE: OTHER SUPPORT | $127,050 |