Nc Techpaths INC FY2023 filing

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EIN 87-2625452 Unknown exempt organization Wilkesboro, NC
Form 990 (PDF)

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Revenue & expenses by yearFY2022–FY2025
Revenue
$1.5M
FY2023▲ +86%
Expenses
$1.3M
FY2023▲ +331%

Form 990 for the fiscal year ending June 2023 (IRS tax year 2022).


Connects rural residents with technology jobs to keep them in their home regions. For fiscal year 2023 it reported $1.5M in revenue, $1.3M in expenses, and $652K in net assets.Pt I

Type
Unknown exempt organization · Nonprofit
Location
Wilkesboro, NC
Website
nctechpaths.org
Filings
4 on file (2022–2023)
Revenue
$1.5MFY2023
Expenses
$1.3M
Net assets
$652K
People
8
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Provided by the organization

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Size
$100K–1M
What they do
Connects rural residents with technology jobs to keep them in their home regions.
Leadership
Karen Barnes · Interim Executive Director Effective Dec 2022 · $24K
Money in and out
$1.5M revenue, $1.3M expenses
Bottom line
+11% surplus margin
Reported financial activity · FY2023
Total revenue
$1.5M
Pt VIII · Ln 12
Total expenses
$1.3M
Pt IX · Ln 25
Net assets
$652K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $158K
Where spending went · Part IX cols B–D
Program services $0.84 Management & general $0.14 Fundraising $0.02
Surplus margin
+11%
revenue over expenses, this year
Program spending
84%
of expenses reach programs

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Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$2.5M
FY2023▲ +68%
Total liabilities
$1.9M
FY2023▲ +86%
Revenue less expensesPt I · Ln 19$158K
Total assetsPt X · Ln 16$2.5M
Program-expense ratioPt IX · col B84%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CNc Techpaths INC
EINHdr · item D87-2625452
Principal addressHdr · item CWilkesboro, NC
WebsiteHdr · item Jnctechpaths.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFpending

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Interim Executive Director Effective Dec 2022
$23,510Pt VII · Sec A
Executive Director Through Dec 2022
$21,000Pt VII · Sec A
President Through Mar 2023
$19,000Pt VII · Sec A
Secretary Through Mar 2023
$0Pt VII · Sec A
Secretary/Treasurer Effective Mar 2023
$0Pt VII · Sec A
$0Pt VII · Sec A
Director Through May 2023
$0Pt VII · Sec A
Director Effective Jun 2023
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2023FY2022
Karen Barnes$23,510—
Zachary J Barricklow$21,000$8,000
Craig Delucia$19,000—
Craig Delucia—$6,000

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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Mission & Programs · Part III

Where the work happens

2 program services account for $1.1M of program spending, described in the organization's own filed words · FY2022.
01

TALENT NC Tech Paths works at the intersection of students, education, and industry for rural communities. Our program model is to recruit high-potential talent interested in careers in software development, network management, cyber security and IT support, coach and assist the learners on pathways to a degree and/or industry…

$877Kprogram expense
02

MASTHEAD NC Tech Paths purchased a building in downtown North Wilkesboro to serve as the organizations first Rural Tech Outpost. In addition to serving as a magnetic workspace, The Masthead will provide a downtown convening spot for individuals interested in technology and entrepreneurship, hosting hands-on training, summer camps…

$253Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$1.0M · 68%
Program service revenue$436K · 29%
Other revenue$46K · 3%
Contributions & grants68%$1.0M
Program service revenue29%$436K
Other revenue3%$46K
Total revenueLn 12$1.5M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.14 Fundraising $0.02
Program services84%$1.1M
Management & general14%$183K
Fundraising2%$30K
Total functional expensesLn 25$1.3M

Balance Sheet

Part X · end of year
CashLn 1$218K
Total assetsLn 16$2.5M
Total liabilitiesLn 26$1.9M
Total net assetsLn 32$652K
Months of cash on handcomputed2.0

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $218K · Operating expenses/yr $1.3M
2.0 months
Where the money goes
Program services
Program services $1.1M · Total expenses $1.3M
84%
Management & General
Management & general $183K · Total expenses $1.3M
14%
Fundraising
Fundraising $30K · Total expenses $1.3M
2%
Cost to raise $1
Fundraising expense (2-yr avg) $22K · Solicited contributions (2-yr avg) $910K
$0.02 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.0M · Total revenue $1.5M
68%
Government reliance
Government grants — · Total revenue $1.5M
—
Earned-income share
Program service revenue $436K · Total revenue $1.5M
29%
Investment reliance
Investment income $0 · Total revenue $1.5M
0%
Program self-sufficiency
Program service revenue $436K · Total expenses $1.3M
32%
Growth & trend
Revenue growth (YoY)
This year $1.5M · Prior year $805K
+86%
Net-asset trend (YoY)
End of year $652K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.5M · Expenses $1.3M
+11%
Liabilities-to-Assets
Total liabilities — · Total assets $2.5M
—
Net-asset ratio
Net assets $652K · Total assets $2.5M
26%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.5M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Karen Barnes · Reported title Interim Executive Director Effective Dec 2022 · Highest reported compensation $24K · Total expenses $1.3M
2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $655K · Total expenses $1.3M
49%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 84%——
Overhead ratio 14%——
Fundraising cost ratio 3%——
Revenue growth 86%——
Investment management fee ratio 0%——
Legal fee ratio 2%——
Accounting fee ratio 6%——

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 · FY2022
Total grants receivedfrom 2 funders$1.1M
Grants paid · 5 grants · $176K · 2021–2023
Unitemized GrantFY2023$22,260
Unitemized GrantFY2022$138,744
Unitemized GrantFY2022$3,125
Unitemized GrantFY2021$8,750
Unitemized GrantFY2021$2,850

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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)$174K revenue · ⤓ 990 PDF
FY2024$421K revenue · ⤓ 990 PDF
FY2023$1.5M revenue · viewing · ⤓ 990 PDF
FY2022$805K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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