Tarheel Minuteman Foundation EIN 82-1019607 Form 990 (PDF) Claim this org

Tarheel Minuteman Foundation

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Provides educational aid and preserves the history of the NC National Guard. For fiscal year 2025 it reported $128K in revenue, $141K in expenses, and $914K in net assets.Pt I

Type
Public charity (501(c)(3)) · Public & Societal Benefit
Location
Raleigh, NC
Filings
4 on file (2022–2025)
Revenue
$128KFY2025
Expenses
$141K
Net assets
$914K
People
8
Filings
4
Updates
0
More identity details & actions ⌄
EIN  82-1019607 Public charity (501(c)(3)) Raleigh, NC
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides educational aid and preserves the history of the NC National Guard.
Leadership
Allan Cecil · Chair
Money in and out
$128K revenue, $141K expenses
Bottom line
85% program efficiency
Where the money goes · FY2025
Total revenue
$128K
Pt VIII · Ln 12
Total expenses
$141K
Pt IX · Ln 25
Net assets
$914K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$13K
Where spending went · Part IX cols B–D
Program services $0.85 Management & general $0.15
Program efficiency
85%
of spending reaches programs▼ -15% vs prior filing year
Operating runway
77.9mo
months of highly liquid reserves at operating expense rate▼ -34% vs prior filing year
Surplus margin
-10%
revenue over expenses, this year▼ -155% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$128K
FY2025▲ +11%
Expenses
$141K
FY2025▲ +50%
Total assets
$914K
FY2025▼ -1%
Total liabilities
$0
FY2025
Total revenue
$128K
Pt VIII · Ln 12
Total expenses
$141K
Pt IX · Ln 25
Net assets
$914K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$13K
Total assetsPt X · Ln 16$914K
Program-expense ratioPt IX · col B85%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CTarheel Minuteman Foundation
EINHdr · item D82-1019607
Principal addressHdr · item CRaleigh, NC
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFPublic & Societal Benefit (W30)
Ruling yearIRS BMFMay 2017

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Exec Dir/Secretary
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

3 program services account for $110K of program spending, described in the organization's own filed words · FY2024.
01

Scholarship program which raises funds and awards college scholarships to members of the NC National Guard and their families; during the fiscal year a total of 46 scholarships were awarded totaling $57,500. Certain donations to the foundation are directed specifically to scholarship support.

$58Kprogram expense
02

Hurricane Helene support to National Guard families impacted by the disaster

$45Kprogram expense
03

Support of various programs for NC National Guard families artifacts via a NC National Guard museum; funding provided by general donation support

$6Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$79K · 61%
Investment income$42K · 32%
Other revenue$8K · 6%
Contributions & grants61%$79K
Investment income32%$42K
Other revenue6%$8K
Total revenueLn 12$128K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.85 Management & general $0.15
Program services85%$119K
Management & general15%$22K
Total functional expensesLn 25$141K

Balance Sheet

Part X · end of year
CashLn 1$914K
Total assetsLn 16$914K
Total liabilitiesLn 26$0
Total net assetsLn 32$914K
Months of cash on handcomputed77.9

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $914K · Operating expenses/yr $141K
77.9 months
Where the money goes
Program services
Program services $119K · Total expenses $141K
85%
Management & General
Management & general $22K · Total expenses $141K
15%
Fundraising
Fundraising $0 · Total expenses $141K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $335K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $79K · Total revenue $128K
61%
Government reliance
Government grants — · Total revenue $128K
Earned-income share
Program service revenue $0 · Total revenue $128K
0%
Investment reliance
Investment income $42K · Total revenue $128K
+32%
Program self-sufficiency
Program service revenue $0 · Total expenses $141K
0%
Growth & trend
Revenue growth (YoY)
This year $128K · Prior year $115K
+11%
Net-asset trend (YoY)
End of year $914K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $128K · Expenses $141K
-10%
Liabilities-to-Assets
Total liabilities — · Total assets $914K
Net-asset ratio
Net assets $914K · Total assets $914K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $914K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Allan Cecil · Reported title Chair · Highest reported compensation $0 · Total expenses $141K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $141K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 85%
Overhead ratio 15%
Fundraising cost ratio 0%
Revenue growth 11%
Accounting fee ratio 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$15K
Grants paid · 3 grants · $187K · 2022–2024
Unitemized GrantFY2024$57,500
Unitemized GrantFY2023$72,250
Unitemized GrantFY2022$57,100

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$128K revenue · viewing · ⤓ 990 PDF
FY2024$115K revenue · ⤓ 990 PDF
FY2023$833K revenue · ⤓ 990 PDF
FY2022$90K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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