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James Sprunt Foundation INC FY2023 filing

Tax-deductible

Kenansville, NC501(c)(3)Colleges & Universities EIN 23-7405675Revenue $201K in FY2023Latest return filed Feb 10, 2026

On file with the IRSjamessprunt.edu/about/foundationKenansville, 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.
64¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
62 mo
of spending, in cash
Plus $1.8M in investments, Pt X · Ln 11–13
Looks good: 61.5 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
$4
<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
$201K
-32% vs prior year
Spent
$94K
To programs
64%
Net assets
$2.3M
By yearFY2021–FY2025
Revenue
$201K
FY2023▼ -32%
Tap a bar for its year
Revenue by fiscal year
FY2021$250K
FY2022$298K
FY2023$201K
FY2024$421K
FY2025$636K
Expenses
$94K
FY2023▲ +21%
Tap a bar for its year
Expenses by fiscal year
FY2021$70K
FY2022$77K
FY2023$94K
FY2024$181K
FY2025$347K
Net assets
$2.3M
FY2023▲ +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 FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

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

64 cents of each dollar spent went to programs.

Program services 64% · $60K Management & general 36% · $33K

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

Something off? Claim to add context

Who runs it and what they're paid

18 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 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 →

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.

Questions for James Sprunt Foundation INC

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1 program · $60K · in their own filed words · FY2022
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.

$60Kprogram 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 FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$201K
Ln 12
Gifts and grantsLn 1h$189K
Investment incomeLn 3$38K
Other incomeLn 4–11$12K
Money outPt IX
$94K
Ln 25
Programscol B$60K
Managementcol C$33K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$480K
Total assetsLn 16$2.3M
LiabilitiesLn 26$4
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$189K
Noncash giftsLn 1g$30K
Investment incomeLn 3$38K
Other incomeLn 4–11$12K
Gains on assetsLn 7−$74K
Total revenueLn 12$201K
Assets in detailPt X, end of year
CashLn 1$480K
Cash and savings togetherLn 1–2$480K
Accounts receivableLn 4$490
InvestmentsLn 11–13$1.8M
Total assetsLn 16$2.3M
LiabilitiesLn 26$4
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 638
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$30K
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$10K
Share of the $1.8M endowmentSch D 1g0.56%
Typical, median of 1,806 orgs0.44%
EndowmentSch D · Pt V
LineFY23FY22FY21FY20FY19
End of yearLn 1g$1.8M$1.7M$1.8M$1.5M$1.5M
Given inLn 1b$34K$44K$15K$9K$31K
SpentLn 1d–1f$16K$19K$48K$48K$42K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$379K$480K
InvestmentsLn 11–13$1.6M$1.8M
Total assetsLn 16$2.0M$2.3M
LiabilitiesLn 26$20$4
Net assetsLn 32$2.0M$2.3M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$25K$25K
Grants to domestic individualsLn 2$25K$25K
Accounting feesLn 11c$18K$18K
Investment management feesLn 11f$10K$10K
Office expensesLn 13$6K$1K$5K
Other expenses (24a–d)Ln 24$9K$9K
Total functional expensesLn 25$94K$60K$33K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Feb 10, 2026 $636K$347K$290K$3.1M 990 PDF
FY2024Filed with the IRS May 8, 2025 $421K$181K$240K$2.7M 990 PDF
FY2023 ViewingFiled with the IRS Mar 26, 2024 $201K$94K$108K$2.3M 990 PDF
FY2022Filed with the IRS Apr 15, 2023 $298K$77K$220K$2.0M 990 PDF
FY2021Filed with the IRS Feb 28, 2022 $250K$70K$180K$2.2M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $201,356 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $90,488$189,349
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $153,233−$35,779
I-11 Other revenuePrior year $53,896$47,786
I-12 Total revenuePrior year $297,617$201,356
I-13 Grants and similar amounts paidPrior year $31,904$49,661
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 $45,525$43,954
I-18 Total expensesPrior year $77,429$93,615
I-19 Revenue less expensesPrior year $220,188$107,741
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 $201,356 across 7 lines filed
Lines not itemized here account for −$84 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$189,349
VIII-1g Noncash contributions (included above)$30,167
VIII-1h Total contributions, gifts and grants$189,349
VIII-3 Investment incomeExcluded from tax $38,274$38,274
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$74,053−$74,053
VIII-8 Net income from fundraising eventsExcluded from tax $47,870$47,870
VIII-12 Total revenueRelated to mission −$84 · Unrelated business $0 · Excluded from tax $12,091$201,356
Part IX · Statement of functional expenses $93,615 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $25,133$25,133
IX-2 Grants to domestic individualsPrograms $24,528$24,528
IX-11c Accounting feesManagement $18,000$18,000
IX-11f Investment management feesManagement $10,321$10,321
IX-13 Office expensesPrograms $1,080 · Management $5,073$6,153
IX-24 Other expenses (24a–d)Programs $9,480$9,480
IX-25 Total functional expensesPrograms $60,221 · Management $33,394 · Fundraising $0$93,615
Part X · Balance sheet $2,294,267 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $378,795$479,870
X-4 Accounts receivableStart of year $1,740$490
X-11 Publicly traded securitiesStart of year $1,607,693$1,813,907
X-16 Total assetsStart of year $1,988,228$2,294,267
X-17 Accounts payable and accrued expensesStart of year $20$4
X-26 Total liabilitiesStart of year $20$4
X-27 Net assets without donor restrictionsStart of year $177,549$308,110
X-28 Net assets with donor restrictionsStart of year $1,810,659$1,986,153
X-32 Total net assets or fund balancesStart of year $1,988,208$2,294,263
X-33 Total liabilities and net assetsStart of year $1,988,228$2,294,267
Part XI · Reconciliation of net assets $2,294,263 net assets at year end
XI-1 Total revenue$201,356
XI-2 Total expenses$93,615
XI-3 Revenue less expenses$107,741
XI-4 Net assets at start of year$1,988,208
XI-5 Net unrealized gains (losses) on investments$198,314
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,294,263

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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