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Exploris School Foundation FY2024 filing

Tax-deductible

Raleigh, NC501(c)(3)Since 2017Education EIN 81-4851793Revenue $62K in FY2024

On file with the IRSexploris.org401 Hillsborough Street, 27603-1792 · Raleigh, NCTax-exempt since Jul 2017Publicly supported — 509(a)(2)

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The purpose of the Exploris School Foundation is to accept and manage gifts and donations that support the programs, facilities, and operations of the Exploris School. The Foundation enables the School to grow and meet the needs of its students and teachers, goals that could not be achieved solely through state and local funding.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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
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
2 of 6
filings with a surplus
Average deficit $119K a year · 177% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1503 mo
of spending, in cash
Looks good: 1502.6 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
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 9 voting members
Worth a look: 4 of 9 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$62K
+183% vs prior year
Spent
$5K
To programs
0%
Net assets
$670K
By yearFY2020–FY2025
Revenue
$62K
FY2024▲ +183%
Tap a bar for its year
Revenue by fiscal year
FY2020$102K
FY2021$81K
FY2022$52K
FY2023$22K
FY2024$62K
FY2025$84K
Expenses
$5K
FY2024▼ -91%
Tap a bar for its year
Expenses by fiscal year
FY2020$567K
FY2021$20K
FY2022$59K
FY2023$57K
FY2024$5K
FY2025$412K
Net assets
$670K
FY2024▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$593K
FY2021$655K
FY2022$648K
FY2023$613K
FY2024$670K
FY2025$342K

From the FY2024 Form 990 (year ending June 2024) · see the original

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You’re viewing the FY2024 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 Jul 2017.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $5K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Josh Corbat
Board Member
$0Pt VII · Sec A
Michelle Duncan
Board Member
$0Pt VII · Sec A
Jessica Roberts
Board Member
$0Pt VII · Sec A
Margaret Barnett
Board Member
$0Pt VII · Sec A
Sarah Sigmon
Board Member
$0Pt VII · Sec A
Richard Averitte
Board Member
$0Pt VII · Sec A
Brian Roberts
Treasurer
$0Pt VII · Sec A
Jenn Schultz
Secretary
$0Pt VII · Sec A
See Exploris School Foundation 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides fundraising support for a school.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

The exploris foundation managed gifts and donations that support the programs, facilities, and operations of the exploris school.

Pt IX · col B

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 · FY2022
Donor Advised Charitable Giving INCFY2022$8K
Total grants receivedfrom 1 funder$8K
Grants paid · 4 grants · $436K · 2021–2024
The Exploris SchoolNC · FY2024$314,428
Exploris Middle School PTONC · FY2024$27,000
The Exploris SchoolNC · FY2022$47,279
The Exploris SchoolNC · FY2021$47,553

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$62K
Ln 12
Gifts and grantsLn 1h$62K
Money outPt IX
$5K
Ln 25
Managementcol C$5K
Owns and owesPt X
$670K
net assets · Ln 32
Cash and savingsLn 1–2$670K
Total assetsLn 16$670K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$62K
Total revenueLn 12$62K
Assets in detailPt X, end of year
CashLn 1$670K
Cash and savings togetherLn 1–2$670K
Total assetsLn 16$670K
LiabilitiesLn 26$0
Net assetsLn 32$670K
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$613K$670K
Total assetsLn 16$613K$670K
LiabilitiesLn 26$0$0
Net assetsLn 32$613K$670K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$3K$3K
Office expensesLn 13$621$621
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$5K$0$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $84K$412K−$328K$342K 990 PDF
FY2024 Viewing $62K$5K$57K$670K 990 PDF
FY2023 $22K$57K−$35K$613K 990 PDF
FY2022 $52K$59K−$6K$648K 990 PDF
FY2021 $81K$20K$62K$655K 990 PDF
FY2020 $102K$567K−$465K$593K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $62,444 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $22,055$62,444
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $22,055$62,444
I-13 Grants and similar amounts paidPrior year $47,279$0
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 $10,003$5,350
I-18 Total expensesPrior year $57,282$5,350
I-19 Revenue less expensesPrior year −$35,227$57,094
Part VI · Governance 4 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $62,444 across 3 lines filed
VIII-1f All other contributions, gifts and grants$62,444
VIII-1h Total contributions, gifts and grants$62,444
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$62,444
Part IX · Statement of functional expenses $5,350 across 3 lines filed
IX-11c Accounting feesManagement $3,445$3,445
IX-13 Office expensesManagement $621$621
IX-24 Other expenses (24a–d)Management $1,284$1,284
IX-25 Total functional expensesPrograms $0 · Management $5,350 · Fundraising $0$5,350
Part X · Balance sheet $669,920 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $612,826$669,920
X-16 Total assetsStart of year $612,826$669,920
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $612,826$669,920
X-32 Total net assets or fund balancesStart of year $612,826$669,920
X-33 Total liabilities and net assetsStart of year $612,826$669,920
Part XI · Reconciliation of net assets $669,920 net assets at year end
XI-1 Total revenue$62,444
XI-2 Total expenses$5,350
XI-3 Revenue less expenses$57,094
XI-4 Net assets at start of year$612,826
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$669,920

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

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