Ncinnovation
Ncinnovation reported $272.1 million in revenue and $19.1 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $76.77 went to program services, $23.23 to management and general costs and $0.00 to fundraising. Its largest source of revenue was contributions and grants: 91.9% of the total. Government grants made up 91.9%. The highest compensation it reported for one person was $684,580 (PRESIDENT & CEO). 12 people received more than $100,000 in reportable compensation. Revenue rose 7459% between 2021 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 $19MFor 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 $272MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 76.8% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 23.2% | 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 | 91.9% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 91.9% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $684,580 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.58% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 12 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 328.4 | 13.3 |
| Independent voting board members Part VI 1a–1b | 13 of 13 | 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 expenseAs authorized under n.c. General statute sec. 143-728, ncinnovation advanced statewide program development in fy2025 by awarding research commercialization support grants through a spring cycle in may 2025 and a fall cycle in december 2025. The organization also continued supporting all unc system universities by supporting and building the research capacity of each institution through nci's statewide regional hub networks program
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 |
|---|---|---|---|---|
| PRESIDENT & CEO Officer, 40.0 hrs/week | $610,683 | $0 | $73,897 | $684,580 |
| EVP & CIO Officer, 40.0 hrs/week | $406,100 | $0 | $59,764 | $465,864 |
| SVP & CHIEF RISK OFFICER Officer, 40.0 hrs/week | $277,083 | $0 | $52,589 | $329,672 |
| EVP & CFO Officer, 40.0 hrs/week | $234,659 | $0 | $31,471 | $266,130 |
| Senior Regional Innovation Director Highest compensated employee, 40.0 hrs/week | $140,708 | $0 | $62,937 | $203,645 |
| Vice President, Grants & Research Highest compensated employee, 40.0 hrs/week | $182,417 | $0 | $18,354 | $200,771 |
| Vice President, Corporate Affairs Highest compensated employee, 40.0 hrs/week | $174,167 | $0 | $21,606 | $195,773 |
| Senior Regional Innovation Director Highest compensated employee, 40.0 hrs/week | $139,458 | $0 | $33,997 | $173,455 |
12 people received more than $100,000 in reportable compensation from Ncinnovation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.4M (Part IX, line 5).
5 filings since 2021
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance 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–1b13 · 13 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 4Yes
- 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 516
- Volunteers Part I, line 614
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| RTI INTERNATIONAL Contract research services | $430,597 |
| SMITH ANDERSON BLOUNT DORSETT MITCHELL & JERNIGAN LLP Legal services | $287,808 |
| ADFERO Marketing & communications | $185,860 |
| MCGUIRE WOODS LLP Lobbying expenses | $121,006 |
Individuals listed as contractors are left out. 6 contractors were paid more than $100,000 in all.
Private foundation grants it received
3 private foundations reported grants to Ncinnovation totaling $700K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Ncinnovation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Ncinnovation, you can publish a response that is linked from this page.
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Of every $100 Ncinnovation spent in FY2025, $76.77 went to programs. The full breakdown, from its IRS Form 990:
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- Lipscomb UniversityNashville, TN · revenue $272M · programs 83.8% · FY2025
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- Alliance College-Ready Public SchoolsLos Angeles, CA · revenue $271M · programs 91.3% · FY2025
- OclcDublin, OH · revenue $273M · programs 89.9% · FY2025
- International Baccalaureate OrganizationWashington, DC · revenue $271M · programs 62.4% · FY2025
All education charities · Largest charities in North Carolina
Questions people ask
How much of Ncinnovation's spending goes to programs?
In the fiscal year ending June 30, 2025, Ncinnovation reported that 76.8% of its $19.1 million in expenses went to program services, 23.2% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Ncinnovation pay its top executive?
The largest total compensation Ncinnovation reported for one person in the fiscal year ending June 30, 2025 was $684,580, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Ncinnovation get its money?
Of $272.1 million in revenue in the fiscal year ending June 30, 2025, 91.9% came from contributions and grants (including 91.9% from government grants) and 0.0% from program service revenue (Form 990, Part VIII).
Is Ncinnovation a registered charity?
The IRS lists EIN 84-4902334 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 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 202631339349304418 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202522529349300917 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023 (amended), object 202512529349301656 · read the filing
- FY2022 (6 mo.): Form 990 for the 6-month short period ending June 30, 2022, object 202233079349300833 · read the filing
- 2021: Form 990 for calendar year 2021, object 202201329349303045 · read the filing
All filings for EIN 84-4902334: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.