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Cristo Rey Research Triangle Corporate Work Study Program INC FY2024 filing

Tax-deductible

Durham, NC501(c)(3)Employment EIN 83-2700481Revenue $930K in FY2024

On file with the IRScristoreyrt.org334 Blackwell Street, 27701-2394 · Durham, NCTax-exempt since Mar 2022Supporting org, Type II — 509(a)(3)

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Support the students of Cristo Rey Research Triangle high school by providing a Work Study Program through which they finance the majority of the cost of their education, gain real world job experience, grow in self confidence, and realize the relevance of their education.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
4 of 4
filings with a surplus
Average surplus $290K a year · 35% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $94K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$725K
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$930K
+87% vs prior year
Spent
$568K
To programs
100%
Net assets
$147K
By yearFY2021–FY2025
Revenue
$930K
FY2024▲ +87%
Tap a bar for its year
Revenue by fiscal year
FY2021$308K
FY2023$497K
FY2024$930K
FY2025$1.5M
Expenses
$568K
FY2024▲ +28%
Tap a bar for its year
Expenses by fiscal year
FY2021$308K
FY2023$443K
FY2024$568K
FY2025$798K
Net assets
$147K
FY2024▲ +169%
Tap a bar for its year
Net assets by fiscal year
FY2021$0
FY2023−$215K
FY2024$147K
FY2025$903K

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · 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. Exemption reinstated (2021-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Mar 2022.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $568K

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

19 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Neil Cronin
President
$0Pt VII · Sec A
Jeb Myers
President (t
$0Pt VII · Sec A
James McPherson
CFO (to 2/24
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Baric
Chariman
$0Pt VII · Sec A
Shelayne Sutton
Vice-Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Bob Murphy
Director
$0Pt VII · Sec A
See Cristo Rey Research Triangle Corporate Work Study Program 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

Connects students with jobs to fund their education and gain experience.

Questions for Cristo Rey Research Triangle Corporate Work Study Program INC

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Provided by the organization

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1 program · $568K · in their own filed words · FY2023
01

Operate the work study program for cristo rey research triangle high school.

$568Kprogram 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
Forest at Duke INCFY2024$48K
Fidelity Investments Charitable Gift FundFY2024$38K
Carolina Meadows INCFY2024$9K
Total grants receivedfrom 3 funders$94K
See all 3 funders →
Grants paid · 4 grants · $1.9M · 2021–2024
Cristo Rey Research Triangle High School INCNC · FY2024$798,319
Cristo Rey Research Triangle High School INCNC · FY2023$568,208
Cristo Rey Research Triangle High School INCNC · FY2022$443,211
Cristo Rey Research Triangle High School INCNC · FY2021$80,201

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$930K
Ln 12
Fees for servicesLn 2g$824K
Gifts and grantsLn 1h$106K
Money outPt IX
$568K
Ln 25
Programscol B$568K
Owns and owesPt X
$147K
net assets · Ln 32
Cash and savingsLn 1–2$46K
Total assetsLn 16$872K
LiabilitiesLn 26$725K
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$106K
Fees for servicesLn 2g$824K
Total revenueLn 12$930K
Assets in detailPt X, end of year
CashLn 1$46K
Cash and savings togetherLn 1–2$46K
Land, buildings, equipmentLn 10c$224K
Other assetsLn 15$474K
Total assetsLn 16$872K
LiabilitiesLn 26$725K
Net assetsLn 32$147K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
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$46K
Land, buildings, equipmentLn 10c$124K$224K
Total assetsLn 16$452K$872K
LiabilitiesLn 26$667K$725K
Net assetsLn 32−$215K$147K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$568K$568K
Total functional expensesLn 25$568K$568K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.5M$798K$744K$903K 990 PDF
FY2024 Viewing $930K$568K$362K$147K 990 PDF
FY2023 $497K$443K$54K−$215K 990 PDF
FY2022 Not on file
FY2021 $308K$308K$0$0 990 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 $930,395 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $109,776$106,350
I-9 Program service revenuePrior year $387,363$824,045
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $497,139$930,395
I-13 Grants and similar amounts paidPrior year $443,211$568,208
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$0
I-18 Total expensesPrior year $443,211$568,208
I-19 Revenue less expensesPrior year $53,928$362,187
Part VI · Governance 15 of 15 board members independent, 1 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-12a Written conflict of interest policyNo
VI-2 Family or business relationship among officers or directorsNo
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 $930,395 across 4 lines filed
VIII-1f All other contributions, gifts and grants$106,350
VIII-1h Total contributions, gifts and grants$106,350
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $824,045$824,045
VIII-12 Total revenueRelated to mission $824,045$930,395
Part IX · Statement of functional expenses $568,208 across 1 line filed
IX-1 Grants to domestic organizationsPrograms $568,208$568,208
IX-25 Total functional expensesPrograms $568,208 · Management $0 · Fundraising $0$568,208
Part X · Balance sheet $871,853 assets, 13 lines filed
X-1 Cash, non-interest-bearing$45,501
X-4 Accounts receivableStart of year $22,834$128,920
X-10c Land, buildings and equipment, netStart of year $123,698$223,603
X-15 Other assetsStart of year $305,874$473,829
X-16 Total assetsStart of year $452,406$871,853
X-19 Deferred revenueStart of year $41,420$70,041
X-24 Unsecured notes and loans payable$137,468
X-25 Other liabilitiesStart of year $625,904$517,075
X-26 Total liabilitiesStart of year $667,324$724,584
X-27 Net assets without donor restrictionsStart of year −$214,918$101,769
X-28 Net assets with donor restrictions$45,500
X-32 Total net assets or fund balancesStart of year −$214,918$147,269
X-33 Total liabilities and net assetsStart of year $452,406$871,853
Part XI · Reconciliation of net assets $147,269 net assets at year end
XI-1 Total revenue$930,395
XI-2 Total expenses$568,208
XI-3 Revenue less expenses$362,187
XI-4 Net assets at start of year−$214,918
XI-10 Net assets at end of year$147,269

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

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