Myfuturenc INC FY2024 filing

Tax-deductible

Raleigh, NC501(c)(3)Since 2019EducationEIN 84-2326658

Myfuturenc, INC.'s mission is to close gaps in educational access and promote a shared vision for an education-through-workforce continuum to ensure north carolina's economic viability in the global market.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$781K 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

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
5 of 6
filings with a surplus
Average surplus $789K a year · 21% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$781K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
24 mo
of spending, in cash
Looks good: 23.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.1M
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.8M
-2% vs prior year
Spent
$3.7M
To programs
81%
Net assets
$6.5M
By yearFY2020–FY2025
Revenue
$3.8M
FY2024▼ -2%
Revenue by fiscal year
FY2020$4.2M
FY2021$3.5M
FY2022$3.4M
FY2023$3.9M
FY2024$3.8M
FY2025$3.9M
Expenses
$3.7M
FY2024-0.2%
Expenses by fiscal year
FY2020$1.0M
FY2021$2.2M
FY2022$3.2M
FY2023$3.7M
FY2024$3.7M
FY2025$4.1M
Net assets
$6.5M
FY2024▲ +1%
Net assets by fiscal year
FY2020$4.5M
FY2021$5.7M
FY2022$6.0M
FY2023$6.4M
FY2024$6.5M
FY2025$6.2M

From the FY2024 Form 990 · 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. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2019.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $3.0M Management & general 13% · $500K Fundraising 6% · $219K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

26 people listed on the 990; $781K paid to officers and key staff.

Part VII, Section A · reportable compensation
$250,000Pt VII · Sec A
$163,500Pt VII · Sec A
$129,820Pt VII · Sec A
$121,875Pt VII · Sec A
Director of
$116,000Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Financ
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Cecilia Holden Knight’s $220K as President & is at the 87th 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 · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Cecilia Holden Knight$220,000$250,000$197,747———
Cecilia Knight Holden———$213,782——
Cecilia Holden—————$200,900
Cecilia Knight Holden————$180,464—
Jessica Bullard Swencki$157,750$163,500$149,093———
Deanne Rocco Meadows$155,500—————
Jessica Swencki———$150,635——
Melany Reeves Clark$130,500$129,820————

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 Myfuturenc 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

Advocates for educational attainment in North Carolina, aligning talent development with labor market needs through public engagement and policy.

Provided by the organization

This section is blank until Myfuturenc INC claims this page.

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3 program services account for $2.0M of program spending, described in the organization's own filed words · FY2024.
01

Local Initiatives

Programmatic efforts to convene REGIONAL/COUNTY leaders and raise awareness in support of new and ongoing local and regional eductional attainment focused initiative.

$950Kprogram expense
02

Data

Programmatic efforts to measure progress toward north carolina educational attainment goals including the development, publication, and update of a data dashboard.

$517Kprogram expense
03

Educational Advocacy & Labor Market Alignment

Programmatic efforts to (1) convene, engage and drive awareness with the public and key partners to inspire a deep commitment to improving educational attainment in north carolina, (2) align and coordinate state-level attainment and talent devlopment efforts with labor market need and (3) advance the development, implementation and…

$483Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$15K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3.8M
Ln 12
Gifts and grantsLn 1h$3.7M
Investment incomeLn 3$78K
Other incomeLn 4–11$9K
Money outPt IX
$3.7M
Ln 25
Programscol B$3.0M
Managementcol C$500K
Fundraisingcol D$219K
Owns and owesPt X
$6.5M
net assets · Ln 32
Cash and savingsLn 1–2$7.3M
Total assetsLn 16$8.5M
LiabilitiesLn 26$2.1M
PeoplePt VI, VII
26
listed · VII A
PaidVII A5
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.7M
Government grantsLn 1e$75K
Investment incomeLn 3$78K
Other incomeLn 4–11$9K
Total revenueLn 12$3.8M
Assets in detailPt X, end of year
CashLn 1$370K
SavingsLn 2$7.0M
Cash and savings togetherLn 1–2$7.3M
Total assetsLn 16$8.5M
LiabilitiesLn 26$2.1M
Net assetsLn 32$6.5M
OperationsPt I, VI
EmployeesI 518
VolunteersI 621
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$6.1M$7.3M
Total assetsLn 16$6.5M$8.5M
LiabilitiesLn 26$60K$2.1M
Net assetsLn 32$6.4M$6.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$535K$229K$256K$50K
Other salaries and wagesLn 7$1.3M$1.1M$46K$122K
Pension plan contributionsLn 8$87K$63K$15K$9K
Other employee benefitsLn 9$149K$108K$27K$15K
Payroll taxesLn 10$142K$105K$25K$13K
Accounting feesLn 11c$22K$22K
Other fees for servicesLn 11g$968K$948K$18K$3K
Advertising and promotionLn 12$54K$51K$3K$274
Office expensesLn 13$14K$6K$8K
Information technologyLn 14$55K$40K$13K$2K
TravelLn 17$92K$75K$12K$5K
Conferences, conventions and meetingsLn 19$309K$275K$34K$129
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$18K$4K$13K$150
Total functional expensesLn 25$3.7M$3.0M$500K$219K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $3.9M$4.1M−$226K$6.2M 990 PDF
FY2024 Viewing $3.8M$3.7M$69K$6.5M 990 PDF
FY2023 $3.9M$3.7M$150K$6.4M 990 PDF
FY2022 $3.4M$3.2M$219K$6.0M 990 PDF
FY2021 $3.5M$2.2M$1.3M$5.7M 990 PDF
FY2020 $4.2M$1.0M$3.2M$4.5M 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 (4 parts)
Part VIII · Statement of revenue $3,782,304 across 6 lines filed
VIII-1e Government grants$75,000
VIII-1f All other contributions, gifts and grants$3,620,385
VIII-1h Total contributions, gifts and grants$3,695,385
VIII-3 Investment incomeExcluded from tax $77,775$77,775
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $9,144$9,144
VIII-12 Total revenueExcluded from tax $86,919$3,782,304
Part IX · Statement of functional expenses $3,713,615 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $229,311 · Management $255,950 · Fundraising $50,114$535,375
IX-7 Other salaries and wagesPrograms $1,090,608 · Management $46,450 · Fundraising $122,387$1,259,445
IX-8 Pension plan contributionsPrograms $62,583 · Management $15,456 · Fundraising $8,944$86,983
IX-9 Other employee benefitsPrograms $107,776 · Management $26,590 · Fundraising $14,989$149,355
IX-10 Payroll taxesPrograms $104,558 · Management $25,281 · Fundraising $12,554$142,393
IX-11c Accounting feesManagement $21,880$21,880
IX-11g Other fees for servicesPrograms $947,906 · Management $17,959 · Fundraising $2,576$968,441
IX-12 Advertising and promotionPrograms $50,713 · Management $2,747 · Fundraising $274$53,734
IX-13 Office expensesPrograms $6,479 · Management $7,782$14,261
IX-14 Information technologyPrograms $39,773 · Management $13,167 · Fundraising $2,238$55,178
IX-17 TravelPrograms $75,483 · Management $11,603 · Fundraising $4,794$91,880
IX-19 Conferences, conventions and meetingsPrograms $274,577 · Management $33,938 · Fundraising $129$308,644
IX-23 InsuranceManagement $7,965$7,965
IX-24 Other expenses (24a–d)Programs $4,462 · Management $13,469 · Fundraising $150$18,081
IX-25 Total functional expensesPrograms $2,994,229 · Management $500,237 · Fundraising $219,149$3,713,615
Part X · Balance sheet $8,527,039 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $359,407$370,246
X-2 Savings and temporary cash investmentsStart of year $5,701,002$6,978,418
X-3 Pledges and grants receivableStart of year $323,911$1,004,909
X-4 Accounts receivableStart of year $54,171$42,307
X-9 Prepaid expenses and deferred chargesStart of year $15,676$131,159
X-16 Total assetsStart of year $6,454,167$8,527,039
X-17 Accounts payable and accrued expensesStart of year $59,844$240,316
X-19 Deferred revenue$1,823,711
X-26 Total liabilitiesStart of year $59,844$2,064,027
X-27 Net assets without donor restrictionsStart of year $4,894,673$4,948,097
X-28 Net assets with donor restrictionsStart of year $1,499,650$1,514,915
X-32 Total net assets or fund balancesStart of year $6,394,323$6,463,012
X-33 Total liabilities and net assetsStart of year $6,454,167$8,527,039
Part XI · Reconciliation of net assets $6,463,012 net assets at year end
XI-1 Total revenue$3,782,304
XI-2 Total expenses$3,713,615
XI-3 Revenue less expenses$68,689
XI-4 Net assets at start of year$6,394,323
XI-6 Donated services and use of facilities$279,689
XI-10 Net assets at end of year$6,463,012

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

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