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James Sprunt Foundation INC

Tax-deductible

Kenansville, NC501(c)(3)Colleges & UniversitiesEIN 23-7405675Revenue $636K in FY2025

On file with the IRSjamessprunt.edu/about/foundationPo Box 398, 28349-0398 · Kenansville, NCTax-exempt since Feb 1988Publicly supported charity — 170(b)(1)(A)(vi)

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To promote the development of James Sprunt community college and all its programs and activities, and through such action, expand the opportunity for accessible quality education to the people of duplin county and southeastern north carolina.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Run by 38 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $207K a year · 57% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
20 mo
of spending, in cash
Looks good: 20.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $8K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$10
<0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 16 voting members
Looks good: 15 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$636K
+51% vs prior year
Spent
$347K
To programs
77%
Net assets
$3.1M
By yearFY2021–FY2025
Revenue
$636K
FY2025▲ +51%
Tap a bar for its year
Revenue by fiscal year
FY2021$250K
FY2022$298K
FY2023$201K
FY2024$421K
FY2025$636K
Expenses
$347K
FY2025▲ +91%
Tap a bar for its year
Expenses by fiscal year
FY2021$70K
FY2022$77K
FY2023$94K
FY2024$181K
FY2025$347K
Net assets
$3.1M
FY2025▲ +15%
Tap a bar for its year
Net assets by fiscal year
FY2021$2.2M
FY2022$2.0M
FY2023$2.3M
FY2024$2.7M
FY2025$3.1M

From the FY2025 Form 990 (year ending June 2025) · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1988.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $268K Management & general 23% · $79K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Dean Butts
Chairperson
$0Pt VII · Sec A
Curt Simpson
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Ken Jones
Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See James Sprunt Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Supports college programs and accessible education for Duplin County and southeastern North Carolina.

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Provided by the organization

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1 program · $268K · in their own filed words · FY2024
01

The organization's purpose is to promote the development of james sprunt community college and all its programs and activities, and through such action, expand the opportunity for accessible quality education to the people of duplin county and southeastern north carolina.

$268Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
North Carolina Community Foundation INCFY2024$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 8 grants · $426K · 2020–2024
Unitemized GrantFY2024$244,388
Unitemized GrantFY2023$67,449
James Sprunt Community CollegeFY2022$25,133
Unitemized GrantFY2022$24,528
Unitemized GrantFY2021$16,363
James Sprunt Community CollegeFY2021$15,541
Unitemized GrantFY2020$26,855
James Sprunt Community CollegeFY2020$5,917

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$636K
Ln 12
Gifts and grantsLn 1h$453K
Investment incomeLn 3$130K
Other incomeLn 4–11$52K
Money outPt IX
$347K
Ln 25
Programscol B$268K
Managementcol C$79K
Owns and owesPt X
$3.1M
net assets · Ln 32
Cash and savingsLn 1–2$578K
Total assetsLn 16$3.1M
LiabilitiesLn 26$10
PeoplePt VI, VII
18
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$453K
Noncash giftsLn 1g$162K
Investment incomeLn 3$130K
Other incomeLn 4–11$52K
Gains on assetsLn 7$79K
Total revenueLn 12$636K
Assets in detailPt X, end of year
CashLn 1$578K
Cash and savings togetherLn 1–2$578K
InvestmentsLn 11–13$2.4M
Land, buildings, equipmentLn 10c$152K
Total assetsLn 16$3.1M
LiabilitiesLn 26$10
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 638
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$638K$578K
InvestmentsLn 11–13$2.1M$2.4M
Land, buildings, equipmentLn 10c$0$152K
Total assetsLn 16$2.7M$3.1M
LiabilitiesLn 26$9$10
Net assetsLn 32$2.7M$3.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$8K$8K
Grants to domestic individualsLn 2$244K$244K
Accounting feesLn 11c$20K$20K
Investment management feesLn 11f$13K$13K
Other fees for servicesLn 11g$38K$38K
Office expensesLn 13$8K$990$7K
TravelLn 17$163$163
Depreciation, depletion and amortizationLn 22$2K$2K
Other expenses (24a–d)Ln 24$13K$13K
Total functional expensesLn 25$347K$268K$79K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $636K$347K$290K$3.1M 990 PDF
FY2024 $421K$181K$240K$2.7M 990 PDF
FY2023 $201K$94K$108K$2.3M 990 PDF
FY2022 $298K$77K$220K$2.0M 990 PDF
FY2021 $250K$70K$180K$2.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $636,161 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $304,043$453,483
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $67,821$130,382
I-11 Other revenuePrior year $48,783$52,296
I-12 Total revenuePrior year $420,647$636,161
I-13 Grants and similar amounts paidPrior year $93,332$252,503
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $87,653$94,052
I-18 Total expensesPrior year $180,985$346,555
I-19 Revenue less expensesPrior year $239,662$289,606
Part VI · Governance 15 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members15
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $636,161 across 7 lines filed
Lines not itemized here account for $4,398 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$453,483
VIII-1g Noncash contributions (included above)$162,236
VIII-1h Total contributions, gifts and grants$453,483
VIII-3 Investment incomeExcluded from tax $50,905$50,905
VIII-7 Net gain or loss on sales of assetsExcluded from tax $79,477$79,477
VIII-8 Net income from fundraising eventsExcluded from tax $47,898$47,898
VIII-12 Total revenueRelated to mission $4,398 · Unrelated business $0 · Excluded from tax $178,280$636,161
Part IX · Statement of functional expenses $346,555 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $8,115$8,115
IX-2 Grants to domestic individualsPrograms $244,388$244,388
IX-11c Accounting feesManagement $20,500$20,500
IX-11f Investment management feesManagement $13,005$13,005
IX-11g Other fees for servicesManagement $37,928$37,928
IX-13 Office expensesPrograms $990 · Management $7,325$8,315
IX-17 TravelPrograms $163$163
IX-22 Depreciation, depletion and amortizationPrograms $1,599$1,599
IX-24 Other expenses (24a–d)Programs $12,542$12,542
IX-25 Total functional expensesPrograms $267,797 · Management $78,758 · Fundraising $0$346,555
Part X · Balance sheet $3,102,657 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $638,239$578,418
X-4 Accounts receivableStart of year $490$636
X-10c Land, buildings and equipment, netStart of year $0$151,905
X-11 Publicly traded securitiesStart of year $2,055,175$2,371,698
X-16 Total assetsStart of year $2,693,904$3,102,657
X-17 Accounts payable and accrued expensesStart of year $9$10
X-26 Total liabilitiesStart of year $9$10
X-27 Net assets without donor restrictionsStart of year $281,233$315,745
X-28 Net assets with donor restrictionsStart of year $2,412,662$2,786,902
X-32 Total net assets or fund balancesStart of year $2,693,895$3,102,647
X-33 Total liabilities and net assetsStart of year $2,693,904$3,102,657
Part XI · Reconciliation of net assets $3,102,647 net assets at year end
XI-1 Total revenue$636,161
XI-2 Total expenses$346,555
XI-3 Revenue less expenses$289,606
XI-4 Net assets at start of year$2,693,895
XI-5 Net unrealized gains (losses) on investments$119,146
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,102,647

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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