Lee County Educational Foundation EIN 13-4264393 Form 990 (PDF) Claim this org

Lee County Educational Foundation FY2023 filing

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Enhances K-12 public school education in Lee County, NC. For fiscal year 2023 it reported $185K in revenue, $214K in expenses, and $1.5M in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Sanford, NC
Website
leecef.com
Filings
5 on file (2020–2023)
Revenue
$185KFY2023
Expenses
$214K
Net assets
$1.5M
People
17
Filings
5
Updates
0
More identity details & actions ⌄
EIN  13-4264393 Public charity (501(c)(3)) Sanford, NC
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Enhances K-12 public school education in Lee County, NC.
Leadership
Vicki O Haislip · Executive Director · $4K
Money in and out
$185K revenue, $214K expenses
Bottom line
91% program efficiency
Where the money goes · FY2023
Total revenue
$185K
Pt VIII · Ln 12
Total expenses
$214K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$29K
Where spending went · Part IX cols B–D
Program services $0.91 Management & general $0.09
Program efficiency
91%
of spending reaches programs
Operating runway
84.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
-16%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$185K
FY2023▲ +41%
Expenses
$214K
FY2023▲ +134%
Total assets
$1.5M
FY2023▲ +12%
Total liabilities
$0
FY2023
Total revenue
$185K
Pt VIII · Ln 12
Total expenses
$214K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$29K
Total assetsPt X · Ln 16$1.5M
Program-expense ratioPt IX · col B91%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 416

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLee County Educational Foundation
EINHdr · item D13-4264393
Principal addressHdr · item CSanford, NC
WebsiteHdr · item Jleecef.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B112)
Ruling yearIRS BMFDec 2003

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a16
Independent voting membersPt VI · Ln 1b16
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$4,500Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member/Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Vicki O Haislip’s $4K as Executive Director is at the 4th percentile of top reported officer pay among 1615 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021
Vicki O Haislip$4,500$4,500$6,000$6,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

2 program services account for $194K of program spending, described in the organization's own filed words · FY2023.
01

The durable skills project was provided to approximately 120 students at each of the three traditional middle schools in lee county. It was a combined project with boys and girls club of lee county, lee county schools, and the lee county education foundation.

$143Kprogram expense
02

Grant to lee county public schools for the mcswain team teaching awards. The top ten teaching teams in the district at each LEVEL/SUBJECT that a NC eog test is given receives the award. Over 40 teachers received monetary awards for their role on a winning team for the 2022-2023 school year.

$51Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$141K · 77%
Investment income$43K · 23%
Contributions & grants77%$141K
Investment income23%$43K
Total revenueLn 12$185K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.09
Program services91%$194K
Management & general9%$20K
Total functional expensesLn 25$214K

Balance Sheet

Part X · end of year
CashLn 1$139K
Total assetsLn 16$1.5M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.5M
Months of cash on handcomputed7.8

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.5M · Operating expenses/yr $214K
84.9 months
Where the money goes
Program services
Program services $194K · Total expenses $214K
91%
Management & General
Management & general $20K · Total expenses $214K
9%
Fundraising
Fundraising $0 · Total expenses $214K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $137K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $141K · Total revenue $185K
77%
Government reliance
Government grants — · Total revenue $185K
Earned-income share
Program service revenue $0 · Total revenue $185K
0%
Investment reliance
Investment income $43K · Total revenue $185K
+23%
Program self-sufficiency
Program service revenue $0 · Total expenses $214K
0%
Growth & trend
Revenue growth (YoY)
This year $185K · Prior year $130K
+41%
Net-asset trend (YoY)
End of year $1.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $185K · Expenses $214K
-16%
Liabilities-to-Assets
Total liabilities — · Total assets $1.5M
Net-asset ratio
Net assets $1.5M · Total assets $1.5M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $1.4M · Total assets (Pt X, ln 16) $1.5M
90%
People & payroll
Highest Reported Total Compensation
Individual Vicki O Haislip · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $4K · Total expenses $214K
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $214K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 91%
Overhead ratio 9%
Fundraising cost ratio 0%
Revenue growth 41%
Investment management fee ratio 0.5%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $553K · 2020–2024
Lee County Public SchoolsFY2024$125,000
Lee County Public SchoolsFY2023$50,000
Lee County Public SchoolsFY2022$69,000
Lee County Public SchoolsFY2021$150,000
Lee County Public SchoolsFY2020$150,000

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$384K revenue · ⤓ 990 PDF
FY2023$185K revenue · viewing · ⤓ 990 PDF
FY2022$130K revenue · ⤓ 990 PDF
FY2021$196K revenue · ⤓ 990 PDF
FY2020$104K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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