Beacon Education INC

Tax-deductible

Wilmington, NC501(c)(3)Since 2015EducationEIN 47-3629354Revenue $2.3M in FY2024

On file with the IRSbeaconeducation.org4100 Sunglow Dr, 28405-1376 · Wilmington, NCTax-exempt since Sep 2016Publicly supported charity — 170(b)(1)(A)(vi)

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Raising funds and developing programs in support of transportation, facilities, food services, enrichment, and college preparedness for schools within north carolina that are affiliated with the organization's mission.

501(c)(3) charity; gifts are tax-deductible.
76¢ of each $1 spent went to programs.
Run by 75 volunteers and 1 employee.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $3.4M a year · 67% 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
76%
of spending
Looks good: 76% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$157K
to officers and key staff · 7% of spending
Top officer’s pay higher than 68% of similar orgs
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
28 mo
of spending, in cash
Looks good: 28.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $153K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$28K
0.09% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.3M
-64% vs prior year
Spent
$2.2M
To programs
76%
Net assets
$31.1M
By yearFY2020–FY2024
Revenue
$2.3M
FY2024▼ -64%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.2M
FY2021$3.1M
FY2022$6.7M
FY2023$7.1M
FY2024$6.3M
FY2024$2.3M
Expenses
$2.2M
FY2024▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.0M
FY2022$3.0M
FY2023$1.1M
FY2024$1.9M
FY2024$2.2M
Net assets
$31.1M
FY2024▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$13.8M
FY2021$15.8M
FY2022$19.3M
FY2023$25.4M
FY2024$30.4M
FY2024$31.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2016.

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

Where the money goes

76 cents of each dollar spent went to programs.

Program services 76% · $1.7M Management & general 23% · $498K Fundraising 1% · $16K

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

15 people listed on the 990; $157K paid to officers and key staff.

Part VII, Section A · reportable compensation
$157,000Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A

Todd Godbey’s $157K as CEO is at the 68th percentile of top reported officer pay among 3395 $1–10M 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

NameFY2024FY2024FY2020
Todd Godbey$157,000$274,564$78,594

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.

See Beacon Education 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 North Carolina public charter schools with funds and programs for transportation, food, and college readiness.

Provided by the organization

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1 program · $1.7M · in their own filed words · FY2024
01

Development and fundraising for school support and enrichment programs that are essential to student and school success. These programs include college counseling, professional development for faculty, mentoring, athletics, the arts, transportation, food services, and facilities management.

$1.7Mprogram 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
See all 6 funders →
Grants paid · 5 grants · $1.6M · 2019–2022

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.3M
Ln 12
Gifts and grantsLn 1h$1.9M
Investment incomeLn 3$440K
Fees for servicesLn 2g$77K
Money outPt IX
$2.2M
Ln 25
Programscol B$1.7M
Managementcol C$498K
Fundraisingcol D$16K
Owns and owesPt X
$31.1M
net assets · Ln 32
Cash and savingsLn 1–2$5.1M
Total assetsLn 16$31.1M
LiabilitiesLn 26$28K
PeoplePt VI, VII
15
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.9M
Fundraising eventsLn 1c$373K
Fees for servicesLn 2g$77K
Investment incomeLn 3$440K
Total revenueLn 12$2.3M
Assets in detailPt X, end of year
CashLn 1$378K
SavingsLn 2$4.7M
Cash and savings togetherLn 1–2$5.1M
InvestmentsLn 11–13$11.2M
Land, buildings, equipmentLn 10c$6.4M
Total assetsLn 16$31.1M
LiabilitiesLn 26$28K
Net assetsLn 32$31.1M
OperationsPt I, VI
EmployeesI 51
VolunteersI 675
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$5.9M$5.1M
InvestmentsLn 11–13$9.1M$11.2M
Land, buildings, equipmentLn 10c$6.5M$6.4M
Total assetsLn 16$30.5M$31.1M
LiabilitiesLn 26$82K$28K
Net assetsLn 32$30.4M$31.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$157K$75K$82K
Other salaries and wagesLn 7$38K$18K$20K
Pension plan contributionsLn 8$3K$2K$2K
Payroll taxesLn 10$6K$3K$3K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$14K$14K
Other fees for servicesLn 11g$86$86
Advertising and promotionLn 12$23K$23K
Office expensesLn 13$30K$7K$23K
Information technologyLn 14$8K$3K$5K
OccupancyLn 16$30K$30K
TravelLn 17$24K$24K
Conferences, conventions and meetingsLn 19$7K$7K
Payments to affiliatesLn 21$547K$547K
Depreciation, depletion and amortizationLn 22$148K$148K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$1.1M$785K$304K$16K
All other expensesLn 24e$9K$9K$8
Total functional expensesLn 25$2.2M$1.7M$498K$16K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $6.3M$1.9M$4.5M$30.4M 990 PDF
FY2023 $7.1M$1.1M$6.0M$25.4M 990 PDF
FY2022 $6.7M$3.0M$3.6M$19.3M 990 PDF
FY2021 $3.1M$1.0M$2.1M$15.8M 990 PDF
FY2020 $2.2M$1.4M$779K$13.8M 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 FY2024 990 (6 parts)
Part I · Summary $2,298,589 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,140,869$1,881,311
I-9 Program service revenuePrior year $55,760$77,000
I-10 Investment incomePrior year $220,029$440,411
I-11 Other revenuePrior year −$69,381−$100,133
I-12 Total revenuePrior year $6,347,277$2,298,589
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $367,092$204,374
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,485,995$1,961,088
I-18 Total expensesPrior year $1,853,087$2,165,462
I-19 Revenue less expensesPrior year $4,494,190$133,127
Part VI · Governance 14 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,298,589 across 8 lines filed
VIII-1c Fundraising events$373,447
VIII-1f All other contributions, gifts and grants$1,507,864
VIII-1h Total contributions, gifts and grants$1,881,311
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $77,000$77,000
VIII-3 Investment incomeExcluded from tax $440,411$440,411
VIII-8 Net income from fundraising eventsExcluded from tax −$141,004−$141,004
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $40,871$40,871
VIII-12 Total revenueRelated to mission $117,871 · Unrelated business $0 · Excluded from tax $299,407$2,298,589
Part IX · Statement of functional expenses $2,165,462 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $75,301 · Management $81,699$157,000
IX-7 Other salaries and wagesPrograms $18,276 · Management $19,828$38,104
IX-8 Pension plan contributionsPrograms $1,561 · Management $1,694$3,255
IX-10 Payroll taxesPrograms $2,885 · Management $3,130$6,015
IX-11b Legal feesManagement $2,433$2,433
IX-11c Accounting feesManagement $14,490$14,490
IX-11g Other fees for servicesManagement $86$86
IX-12 Advertising and promotionPrograms $22,522$22,522
IX-13 Office expensesPrograms $6,640 · Management $22,951$29,591
IX-14 Information technologyPrograms $3,128 · Management $4,994$8,122
IX-16 OccupancyManagement $29,852$29,852
IX-17 TravelPrograms $24,487$24,487
IX-19 Conferences, conventions and meetingsPrograms $7,236$7,236
IX-21 Payments to affiliatesPrograms $546,858$546,858
IX-22 Depreciation, depletion and amortizationPrograms $148,200$148,200
IX-23 InsuranceManagement $11,914$11,914
IX-24 Other expenses (24a–d)Programs $785,041 · Management $304,496 · Fundraising $16,463$1,106,000
IX-24e All other expensesPrograms $9,289 · Management $8$9,297
IX-25 Total functional expensesPrograms $1,651,424 · Management $497,575 · Fundraising $16,463$2,165,462
Part X · Balance sheet $31,112,521 assets, 13 lines filed
Asset lines not itemized here account for $7,622,200; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $288,092$377,663
X-2 Savings and temporary cash investmentsStart of year $5,609,940$4,746,852
X-3 Pledges and grants receivableStart of year $1,396,516$742,704
X-4 Accounts receivableStart of year $27,633$32,264
X-10c Land, buildings and equipment, netStart of year $6,507,334$6,359,134
X-11 Publicly traded securitiesStart of year $9,076,668$11,231,704
X-16 Total assetsStart of year $30,528,383$31,112,521
X-17 Accounts payable and accrued expensesStart of year $82,326$27,564
X-26 Total liabilitiesStart of year $82,326$27,564
X-27 Net assets without donor restrictionsStart of year $30,161,619$30,943,957
X-28 Net assets with donor restrictionsStart of year $284,438$141,000
X-32 Total net assets or fund balancesStart of year $30,446,057$31,084,957
X-33 Total liabilities and net assetsStart of year $30,528,383$31,112,521
Part XI · Reconciliation of net assets $31,084,957 net assets at year end
XI-1 Total revenue$2,298,589
XI-2 Total expenses$2,165,462
XI-3 Revenue less expenses$133,127
XI-4 Net assets at start of year$30,446,057
XI-5 Net unrealized gains (losses) on investments$505,773
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$31,084,957

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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