To provide technology and online education services to university of north carolina institutions to meet the needs of adult learners and to expand accessibility to higher education for traditionally underserved populations.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
$898K 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

FY2023 · 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 $12.5M a year · 42% 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
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$898K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
17 mo
of spending, in cash
Looks good: 16.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.4M
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$41.2M
×10 vs prior year
Spent
$16.7M
To programs
77%
Net assets
$27.6M
By yearFY2022–FY2025
Revenue
$41.2M
FY2023▲ ×10
Tap a bar for its year
Revenue by fiscal year
FY2022$4.0M
FY2023$41.2M
FY2024$34.7M
FY2025$40.4M
Expenses
$16.7M
FY2023▲ ×18
Tap a bar for its year
Expenses by fiscal year
FY2022$947K
FY2023$16.7M
FY2024$22.8M
FY2025$29.9M
Net assets
$27.6M
FY2023▲ +890%
Tap a bar for its year
Net assets by fiscal year
FY2022$2.8M
FY2023$27.6M
FY2024$39.6M
FY2025$50.1M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Feb 2023.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $12.8M Management & general 22% · $3.7M Fundraising 1% · $144K

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

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Who runs it and what they're paid

16 people listed on the 990; $898K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President
$390,676Pt VII · Sec A
Chief of Staff
$134,126Pt VII · Sec A
Director of Strategy & Business Development
$124,278Pt VII · Sec A
Director of General Ops
$124,278Pt VII · Sec A
Director of Strategy & Business Development
$124,169Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

William Zemp’s $478K as Former CEO is at the 87th percentile of top reported officer pay among 3683 $10–100M 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

NameFY2025FY2024FY2023
William Zemp$478,078$635,000$390,676
David Eby$415,836$192,884—
Jerry Thompson$282,452——
Rae Williams$281,164$201,365—
Brian Fleming$261,923$267,500$124,169
Andrew Bagley$261,923$260,000$124,278
Christopher Boyd$255,923$260,000$124,278
Jack Lewandowski$226,923——

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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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

Offers technology and online education to help adult learners at UNC institutions.

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Provided by the organization

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1 program · $12.8M · in their own filed words · FY2022
01

The organization developed strategy to accelerate approval of program's educational institutions and to assist future enrollment of 422 students through the organization's enrollment program. The organization is on track to launch nine programs during 2024 at various educational institutions.

$12.8Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $1.7M · 2023–2024
North Carolina Central UniversityFY2024$400,000
East Carolina UniversityFY2024$366,667
East Carolina UniversityFY2023$366,667
North Carolina Central UniversityFY2023$300,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$41.2M
Ln 12
Gifts and grantsLn 1h$41.0M
Investment incomeLn 3$228K
Other incomeLn 4–11$4K
Money outPt IX
$16.7M
Ln 25
Programscol B$12.8M
Managementcol C$3.7M
Fundraisingcol D$144K
Owns and owesPt X
$27.6M
net assets · Ln 32
Cash and savingsLn 1–2$23.3M
Total assetsLn 16$30.1M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
16
listed · VII A
PaidVII A5
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$41.0M
Government grantsLn 1e$41.0M
Investment incomeLn 3$228K
Other incomeLn 4–11$4K
Gains on assetsLn 7$563
Total revenueLn 12$41.2M
Assets in detailPt X, end of year
CashLn 1$5.1M
SavingsLn 2$18.2M
Cash and savings togetherLn 1–2$23.3M
Land, buildings, equipmentLn 10c$22K
Other assetsLn 15$21K
Total assetsLn 16$30.1M
LiabilitiesLn 26$2.4M
Net assetsLn 32$27.6M
OperationsPt I, VI
EmployeesI 568
VolunteersI 60
Fiscal year endsHeaderJune
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 FY23End FY23
Cash and savingsLn 1–2$2.6M$23.3M
Land, buildings, equipmentLn 10c$35K$22K
Total assetsLn 16$3.2M$30.1M
LiabilitiesLn 26$392K$2.4M
Net assetsLn 32$2.8M$27.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$2.9M$1.5M$1.4M$71K
Pay of disqualified personsLn 6$1.6M$797K$727K$38K
Other salaries and wagesLn 7$670K$670K
Pension plan contributionsLn 8$116K$59K$54K$3K
Other employee benefitsLn 9$242K$124K$113K$6K
Payroll taxesLn 10$343K$175K$159K$8K
Legal feesLn 11b$66K$66K
Accounting feesLn 11c$330K$330K
Other fees for servicesLn 11g$5.7M$5.2M$462K
Advertising and promotionLn 12$3.6M$3.6M$25K
Office expensesLn 13$114K$23K$84K$7K
Information technologyLn 14$491K$425K$64K$2K
OccupancyLn 16$98K$98K
TravelLn 17$257K$131K$120K$6K
Depreciation, depletion and amortizationLn 22$12K$6K$6K$293
InsuranceLn 23$14K$2K$12K$109
Other expenses (24a–d)Ln 24$111K$55K$54K$2K
All other expensesLn 24e$3K$2K$1K
Total functional expensesLn 25$16.7M$12.8M$3.7M$144K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $40.4M$29.9M$10.5M$50.1M 990 PDF
FY2024 $34.7M$22.8M$11.9M$39.6M 990 PDF
FY2023 Viewing $41.2M$16.7M$24.6M$27.6M 990 PDF
FY2022 $4.0M$947K$3.1M$2.8M 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 J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $41,231,521 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,002,500$41,000,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$227,747
I-11 Other revenuePrior year $0$3,774
I-12 Total revenuePrior year $4,002,500$41,231,521
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $612,463$5,836,556
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $334,179$10,824,207
I-18 Total expensesPrior year $946,642$16,660,763
I-19 Revenue less expensesPrior year $3,055,858$24,570,758
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
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 $41,231,521 across 6 lines filed
VIII-1e Government grants$41,000,000
VIII-1h Total contributions, gifts and grants$41,000,000
VIII-3 Investment incomeExcluded from tax $227,184$227,184
VIII-7 Net gain or loss on sales of assetsRelated to mission $563$563
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,774$3,774
VIII-12 Total revenueRelated to mission $4,337 · Unrelated business $0 · Excluded from tax $227,184$41,231,521
Part IX · Statement of functional expenses $16,660,763 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $1,481,836 · Management $1,351,435 · Fundraising $71,129$2,904,400
IX-6 Pay of disqualified personsPrograms $796,928 · Management $726,799 · Fundraising $38,253$1,561,980
IX-7 Other salaries and wagesPrograms $669,545$669,545
IX-8 Pension plan contributionsPrograms $59,094 · Management $53,893 · Fundraising $2,837$115,824
IX-9 Other employee benefitsPrograms $123,539 · Management $112,668 · Fundraising $5,930$242,137
IX-10 Payroll taxesPrograms $174,832 · Management $159,446 · Fundraising $8,392$342,670
IX-11b Legal feesManagement $66,445$66,445
IX-11c Accounting feesManagement $329,548$329,548
IX-11g Other fees for servicesPrograms $5,229,908 · Management $461,601$5,691,509
IX-12 Advertising and promotionPrograms $3,610,848 · Management $25,463$3,636,311
IX-13 Office expensesPrograms $23,174 · Management $84,334 · Fundraising $6,593$114,101
IX-14 Information technologyPrograms $425,171 · Management $63,788 · Fundraising $2,074$491,033
IX-16 OccupancyManagement $97,614$97,614
IX-17 TravelPrograms $131,227 · Management $119,679 · Fundraising $6,299$257,205
IX-22 Depreciation, depletion and amortizationPrograms $6,095 · Management $5,558 · Fundraising $293$11,946
IX-23 InsurancePrograms $2,281 · Management $11,575 · Fundraising $109$13,965
IX-24 Other expenses (24a–d)Programs $55,474 · Management $53,666 · Fundraising $2,282$111,422
IX-24e All other expensesPrograms $1,660 · Management $1,448$3,108
IX-25 Total functional expensesPrograms $12,791,612 · Management $3,724,960 · Fundraising $144,191$16,660,763
Part X · Balance sheet $30,069,308 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $2,616,835$5,131,207
X-2 Savings and temporary cash investments$18,163,856
X-9 Prepaid expenses and deferred chargesStart of year $529,211$972,572
X-10c Land, buildings and equipment, netStart of year $34,918$21,844
X-14 Intangible assetsStart of year $0$5,758,836
X-15 Other assetsStart of year $0$20,993
X-16 Total assetsStart of year $3,180,964$30,069,308
X-17 Accounts payable and accrued expensesStart of year $391,496$2,442,694
X-25 Other liabilitiesStart of year $277$0
X-26 Total liabilitiesStart of year $391,773$2,442,694
X-32 Total net assets or fund balancesStart of year $2,789,191$27,626,614
X-33 Total liabilities and net assetsStart of year $3,180,964$30,069,308
Part XI · Reconciliation of net assets $27,626,614 net assets at year end
XI-1 Total revenue$41,231,521
XI-2 Total expenses$16,660,763
XI-3 Revenue less expenses$24,570,758
XI-4 Net assets at start of year$2,789,191
XI-8 Prior period adjustments$93,331
XI-9 Other changes in net assets$173,334
XI-10 Net assets at end of year$27,626,614

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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