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Educational Foundation

Chapel Hill, NC · EIN 56-6094839 · 501(c)(3) · Supporting organization (509(a)(3))
Latest filing: Form 990 for the fiscal year ending June 30, 2025 (tax year 2024) · View the filing · Correct or respond

Educational Foundation reported $19.7 million in revenue and $16.8 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $98.51 went to program services, $1.49 to management and general costs and $0.00 to fundraising. Its largest source of revenue was investment income: 89.0% of the total. The highest compensation it reported for one person was $590,661 (EXECUTIVE DIRECTOR). Revenue rose 10% between FY2020 and FY2025. Source: Form 990, FY2025.

Where $100 of spending went

The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $17M

Program services$98.51 $17M
Management & general$1.49 $252K
Fundraising$0.00 $0

For context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).

Where $100 of revenue came from

The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $20M

Contributions & grants (non-government)$10.97 $2.2M
Investment income$89.03 $18M

The 990 scorecard · same measures for every charity, no grades

FY2025 filing. Median across 5,499 covered charities in this category, from their latest filings.
Measure	FY2025	Median
Program services Part IX 25(B) ÷ 25(A)	98.5%	84.4%
Management & general Part IX 25(C) ÷ 25(A)	1.5%	13.4%
Fundraising Part IX 25(D) ÷ 25(A)	0.0%	0.8%
Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h	$0.00	$0.04
Contributions & grants share of revenue Part VIII 1h ÷ 12	11.0%	19.1%
Government grants share of revenue Part VIII 1e ÷ 12	0.0%	1.1%
Program service revenue share Part VIII 2g ÷ 12	0.0%	69.9%
Highest reported compensation Part VII-A, columns D–F	$590,661	$331,578
Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A)	3.51%	1.28%
People paid over $100,000 Part VII, line 2	0	8
Net assets, in months of expenses Part X 33(B) ÷ monthly expenses	319.6	13.3
Independent voting board members Part VI 1a–1b	5 of 5	100.0%

A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.

What the money paid for, in its own words

FY2025 · Form 990, Part III · the three largest programs by expense

$17M expenses · 100.0% of program spending · grants $17M

Distributions from the scholarship trust are forwarded to the Educational Foundation, inc. In its capacity as agent for the trust. The foundation then forwards these distributions directly to the university of north carolina at chapel hill to provide financial assistance to over 550 student-athletes at the university

Highest reported compensation

FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here

Role	From this org	From related orgs	Other	Total
EXECUTIVE DIRECTOR Officer, 0.00 hrs/week	$0	$553,703	$36,958	$590,661
SENIOR ASSOCIATE EXECUTIVE Officer, 0.00 hrs/week	$0	$273,217	$36,278	$309,495
CFO & GENERAL COUNSEL Officer, 0.00 hrs/week	$0	$267,750	$30,566	$298,316
CHIEF STRATEGY & COMMUNICATIONS Officer, 0.00 hrs/week	$0	$213,319	$31,060	$244,379
SENIOR DIRECTOR OF FINANCE Officer, 0.00 hrs/week	$0	$119,935	$21,468	$141,403

0 people received more than $100,000 in reportable compensation from Educational Foundation (Part VII, line 2).

6 years of filings

Form 990, Parts I, VII, IX and X · each row is that year's own filing, linked

RevenueExpenses

Filing	Revenue	Expenses	Programs	Net assets	Top pay
FY2025 ⓘ	$20M	$17M	98.5%	$449M	$590,661
FY2024 ⓘ	$23M	$15M	101.1%	$423M	$685,351
FY2023 ⓘ	$25M	$14M	99.4%	$391M	$641,077
FY2022 ⓘ	$25M	$13M	98.2%	$400M	$554,389
FY2021 ⓘ	$25M	$12M	99.1%	$390M	$716,408
FY2020 ⓘ	$18M	$12M	99.9%	$284M	$468,730

Governance answers, as filed

FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means

Voting board members, and how many are independent Part VI, lines 1a–1b5 · 5 independent
Audited financial statements Part XII 2bYes
Conflict-of-interest policy Part VI 12aYes
Whistleblower policy Part VI 13Yes
Document retention policy Part VI 14Yes
Independent process for top executive pay Part VI 15aYes
Board given the 990 before filing Part VI 11aYes
Family or business ties among insiders Part VI 2No
Aware of a significant diversion of assets Part VI 5No
Excess benefit transaction with an insider Part IV 25aNo
Loans to or from insiders outstanding Part IV 26No
Lobbying, or a 501(h) election in effect Part IV 4No
Over $15,000 of professional fundraising services Part IV 18No
Over $10,000 of activity outside the U.S. Part IV 14bNo
Employees Part I, line 50
Volunteers Part I, line 6200

Correct a figure or respond

Every number above is copied from Educational Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Educational Foundation, you can publish a response that is linked from this page.

Report a correction Respond as Educational Foundation How this works

Similar-sized charities in this cause

Spero Academy
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Omaha, NE · revenue $20M · programs 85.7% · 2024
The Foote School Association
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Capital Prep Charter Schools NY
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Army and Navy Academy Carlsbad California
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All education charities · Largest charities in North Carolina

Questions people ask

How much of Educational Foundation's spending goes to programs?

In the fiscal year ending June 30, 2025, Educational Foundation reported that 98.5% of its $16.8 million in expenses went to program services, 1.5% to management and general and 0.0% to fundraising (Form 990, Part IX).

How much does Educational Foundation pay its top executive?

The largest total compensation Educational Foundation reported for one person in the fiscal year ending June 30, 2025 was $590,661, for the role of EXECUTIVE DIRECTOR (Form 990, Part VII, including compensation from related organizations and other compensation).

Where does Educational Foundation get its money?

Of $19.7 million in revenue in the fiscal year ending June 30, 2025, 11.0% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).

Is Educational Foundation a registered charity?

The IRS lists EIN 56-6094839 as a 501(c)(3) organization (supporting organization (509(a)(3))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.

Sources

FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202611329349305301 · read the filing · XML
FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202511329349301551 · read the filing
FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202431359349307488 · read the filing
FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202321289349304052 · read the filing
FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202221329349303897 · read the filing
FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202101279349303015 · read the filing

All filings for EIN 56-6094839: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.