North Carolina Outward Bound School FY2022 filing

Tax-deductible

Asheville, NC501(c)(3)Since 1966EnvironmentEIN 56-0857708Revenue $8.8M in FY2022

On file with the IRSncobs.org2582 Riceville Rd, 28805-9793 · Asheville, NCTax-exempt since Mar 1966School — 170(b)(1)(A)(ii)

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To change lives through challenge and discovery.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$387K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
4 of 5
filings with a surplus
Average surplus $497K a year · 6% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$387K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $6K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.8M
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
25
of 25 voting members
Looks good: 25 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.8M
+102% vs prior year
Spent
$6.2M
To programs
74%
Net assets
$28.1M
By yearFY2020–FY2024
Revenue
$8.8M
FY2022▲ +102%
Tap a bar for its year
Revenue by fiscal year
FY2020$11.1M
FY2021$4.4M
FY2022$8.8M
FY2023$5.8M
FY2024$8.4M
FY2024$7.5M
Expenses
$6.2M
FY2022▲ +46%
Tap a bar for its year
Expenses by fiscal year
FY2020$10.3M
FY2021$4.3M
FY2022$6.2M
FY2023$7.0M
FY2024$8.2M
FY2024$8.2M
Net assets
$28.1M
FY2022▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$20.1M
FY2021$25.3M
FY2022$28.1M
FY2023$24.6M
FY2024$26.7M
FY2024$26.3M

From the FY2022 Form 990 (year ending March 2022) · 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 Mar 1966.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $4.6M Management & general 21% · $1.3M Fundraising 4% · $277K

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

35 people listed on the 990; $387K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Interim Executive Director
$128,788Pt VII · Sec A
$103,070Pt VII · Sec A
$99,551Pt VII · Sec A
Current Executive Director
$55,548Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Laura Bea Armstrong’s $186K as Executive Di is at the 79th percentile of top reported officer pay among 1851 $1–10M environment 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 · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Laura Bea Armstrong$185,582$165,576$161,877$55,548——
Whitney Montgomery————$161,417$172,574
Ken Lawson———$128,788$23,040—
Karen Sare$108,787—————
Jan Letendre$104,865$108,767$106,542$99,551$94,078$52,469
William Murray———$103,070——
Bill Murray$102,222$101,853$97,096—$88,464—
Michael Smith—————$74,554

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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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

Empowers individuals to transform their lives through challenging experiences and new discoveries.

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Provided by the organization

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1 program · $4.6M · in their own filed words · FY2021
01

The school continued to build back program revenue amidst ongoing course cancellations related to the COVID-19 pandemic. Open enrollment courses served 393 students with 5,949 participation days. Group education programs served 901 students with 4,108 participation days. Veterans programs served 115 students with 682 participation days.

$4.6Mprogram 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 · FY2025
Total grants receivedfrom 2 funders$6K
Grants paid · 3 grants · $4.0M · 2022–2024
Unitemized GrantFY2024$1,494,201
Unitemized GrantFY2023$1,639,208
Unitemized GrantFY2022$823,689

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$8.8M
Ln 12
Gifts and grantsLn 1h$5.3M
Fees for servicesLn 2g$2.9M
Investment incomeLn 3$552K
Money outPt IX
$6.2M
Ln 25
Programscol B$4.6M
Managementcol C$1.3M
Fundraisingcol D$277K
Owns and owesPt X
$28.1M
net assets · Ln 32
Cash and savingsLn 1–2$721K
Total assetsLn 16$30.9M
LiabilitiesLn 26$2.8M
PeoplePt VI, VII
35
listed · VII A
PaidVII A4
Voting boardVI 1a25
IndependentVI 1b25
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.3M
Government grantsLn 1e$1.9M
Noncash giftsLn 1g$1.8M
Fees for servicesLn 2g$2.9M
Investment incomeLn 3$552K
Other incomeLn 4–11$7K
Gains on assetsLn 7$4K
Total revenueLn 12$8.8M
Assets in detailPt X, end of year
CashLn 1$721K
SavingsLn 2$55
Cash and savings togetherLn 1–2$721K
InvestmentsLn 11–13$25.9M
Land, buildings, equipmentLn 10c$3.1M
Other assetsLn 15$7K
Total assetsLn 16$30.9M
LiabilitiesLn 26$2.8M
Net assetsLn 32$28.1M
OperationsPt I, VI
EmployeesI 5162
VolunteersI 630
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$3.4M$721K
InvestmentsLn 11–13$22.1M$25.9M
Land, buildings, equipmentLn 10c$3.3M$3.1M
Total assetsLn 16$29.6M$30.9M
LiabilitiesLn 26$4.2M$2.8M
Net assetsLn 32$25.3M$28.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$719K$719K
Pay of current officers, directors and key staffLn 5$361K$161K$180K$20K
Other salaries and wagesLn 7$2.5M$2.0M$361K$174K
Pension plan contributionsLn 8$20K$14K$4K$2K
Other employee benefitsLn 9$168K$118K$36K$14K
Payroll taxesLn 10$210K$155K$41K$14K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$48K$48K
Investment management feesLn 11f$46K$46K
Other fees for servicesLn 11g$175K$172K$2K
Advertising and promotionLn 12$38K$1K$9K$28K
Information technologyLn 14$108K$52K$52K$4K
OccupancyLn 16$182K$134K$45K$3K
TravelLn 17$134K$114K$19K$1K
Conferences, conventions and meetingsLn 19$17K$13K$3K$919
InterestLn 20$78K$58K$19K
Depreciation, depletion and amortizationLn 22$295K$221K$74K
InsuranceLn 23$301K$241K$60K
Other expenses (24a–d)Ln 24$689K$438K$251K$56
All other expensesLn 24e$151K$64K$73K$14K
Total functional expensesLn 25$6.2M$4.6M$1.3M$277K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $8.4M$8.2M$200K$26.7M 990 PDF
FY2023 $5.8M$7.0M−$1.2M$24.6M 990 PDF
FY2022 Viewing $8.8M$6.2M$2.6M$28.1M 990 PDF
FY2021 $4.4M$4.3M$104K$25.3M 990 PDF
FY2020 $11.1M$10.3M$816K$20.1M 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 FY2022 990 (6 parts)
Part I · Summary $8,824,225 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,678,163$5,318,158
I-9 Program service revenuePrior year $549,722$2,947,036
I-10 Investment incomePrior year $726,710$551,793
I-11 Other revenuePrior year $414,871$7,238
I-12 Total revenuePrior year $4,369,466$8,824,225
I-13 Grants and similar amounts paidPrior year $110,559$719,260
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,613,850$3,261,734
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,541,385$2,263,493
I-18 Total expensesPrior year $4,265,794$6,244,487
I-19 Revenue less expensesPrior year $103,672$2,579,738
Part VI · Governance 25 of 25 board members independent, 1 to look at
VI-1a Voting members of the governing body25
VI-1b Independent voting members25
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $8,824,225 across 9 lines filed
Lines not itemized here account for $82,250 of total revenue; see the IRS return.
VIII-1e Government grants$1,924,317
VIII-1f All other contributions, gifts and grants$3,393,841
VIII-1g Noncash contributions (included above)$1,785,625
VIII-1h Total contributions, gifts and grants$5,318,158
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,864,786$2,864,786
VIII-3 Investment incomeExcluded from tax $547,985$547,985
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,808$3,808
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $7,238$7,238
VIII-12 Total revenueRelated to mission $2,947,036 · Unrelated business $0 · Excluded from tax $559,031$8,824,225
Part IX · Statement of functional expenses $6,244,487 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $719,260$719,260
IX-5 Pay of current officers, directors and key staffPrograms $161,081 · Management $179,601 · Fundraising $20,292$360,974
IX-7 Other salaries and wagesPrograms $1,967,876 · Management $361,165 · Fundraising $173,994$2,503,035
IX-8 Pension plan contributionsPrograms $14,239 · Management $4,191 · Fundraising $1,570$20,000
IX-9 Other employee benefitsPrograms $118,302 · Management $35,518 · Fundraising $13,821$167,641
IX-10 Payroll taxesPrograms $154,942 · Management $40,697 · Fundraising $14,445$210,084
IX-11b Legal feesManagement $2,427$2,427
IX-11c Accounting feesManagement $47,641$47,641
IX-11f Investment management feesManagement $45,869$45,869
IX-11g Other fees for servicesPrograms $172,486 · Fundraising $2,243$174,729
IX-12 Advertising and promotionPrograms $1,074 · Management $8,978 · Fundraising $27,528$37,580
IX-14 Information technologyPrograms $52,082 · Management $51,649 · Fundraising $4,046$107,777
IX-16 OccupancyPrograms $134,489 · Management $44,987 · Fundraising $2,513$181,989
IX-17 TravelPrograms $113,844 · Management $19,174 · Fundraising $1,312$134,330
IX-19 Conferences, conventions and meetingsPrograms $13,166 · Management $2,944 · Fundraising $919$17,029
IX-20 InterestPrograms $58,269 · Management $19,423$77,692
IX-22 Depreciation, depletion and amortizationPrograms $221,342 · Management $73,781$295,123
IX-23 InsurancePrograms $240,620 · Management $60,155$300,775
IX-24 Other expenses (24a–d)Programs $438,467 · Management $250,553 · Fundraising $56$689,076
IX-24e All other expensesPrograms $63,975 · Management $73,259 · Fundraising $14,222$151,456
IX-25 Total functional expensesPrograms $4,645,514 · Management $1,322,012 · Fundraising $276,961$6,244,487
Part X · Balance sheet $30,850,226 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $1,684,111$720,865
X-2 Savings and temporary cash investmentsStart of year $1,685,301$55
X-3 Pledges and grants receivableStart of year $480,413$854,991
X-4 Accounts receivableStart of year $62,635$108,696
X-8 Inventories for sale or useStart of year $81,116$78,190
X-9 Prepaid expenses and deferred chargesStart of year $103,446$78,325
X-10c Land, buildings and equipment, netStart of year $3,298,623$3,105,384
X-11 Publicly traded securitiesStart of year $21,490,536$25,371,934
X-12 Other securitiesStart of year $590,291$414,064
X-13 Program-related investmentsStart of year $65,901$111,100
X-15 Other assetsStart of year $7,695$6,622
X-16 Total assetsStart of year $29,550,068$30,850,226
X-17 Accounts payable and accrued expensesStart of year $635,295$446,806
X-19 Deferred revenueStart of year $1,784,937$712,996
X-25 Other liabilitiesStart of year $170,711$90,126
X-26 Total liabilitiesStart of year $4,246,115$2,795,158
X-27 Net assets without donor restrictionsStart of year $1,347,562$2,470,427
X-28 Net assets with donor restrictionsStart of year $23,956,391$25,584,641
X-32 Total net assets or fund balancesStart of year $25,303,953$28,055,068
X-33 Total liabilities and net assetsStart of year $29,550,068$30,850,226
Part XI · Reconciliation of net assets $28,055,068 net assets at year end
XI-1 Total revenue$8,824,225
XI-2 Total expenses$6,244,487
XI-3 Revenue less expenses$2,579,738
XI-4 Net assets at start of year$25,303,953
XI-5 Net unrealized gains (losses) on investments$171,377
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$28,055,068

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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