Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2025.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
67 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
7 people listed on the 990; $56K paid to officers and key staff (Part VII, Section A).
Meaghan Dennison’s $56K as Chief Executive Officer is at the 9th 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.
See Pay IT Forward Fund LLC executive salaries →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
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Pay IT Forward Fund LLC is an education nonprofit based in Wilmington, NC, formed in 2023.
Questions for Pay IT Forward Fund LLC
Your first name shows with your question. Pay IT Forward Fund LLC answers here, for everyone.
The Forward Fund is north carolina's first Pay-IT-Forward funding model. IT invests in students to enroll, graduate, and attain high-wage employment through tailored financial support while ensuring local employers find the skilled talent they need.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 93-3423161) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $364K | $1.7M |
| InvestmentsLn 11–13 | $3.1M | |
| Total assetsLn 16 | $2.3M | $5.2M |
| LiabilitiesLn 26 | $10K | $2.4M |
| Net assetsLn 32 | $2.3M | $2.8M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $132K | $72K | $41K | $18K |
| Other salaries and wagesLn 7 | $147K | $83K | $44K | $20K |
| Other employee benefitsLn 9 | $17K | $8K | $7K | $2K |
| Payroll taxesLn 10 | $19K | $11K | $6K | $3K |
| Legal feesLn 11b | $9K | $2K | $7K | |
| Accounting feesLn 11c | $18K | $18K | ||
| Other fees for servicesLn 11g | $31K | $30K | $2K | |
| Advertising and promotionLn 12 | $15K | $12K | $1K | $1K |
| Office expensesLn 13 | $5K | $5K | ||
| Information technologyLn 14 | $2K | $2K | ||
| OccupancyLn 16 | $22K | $22K | ||
| TravelLn 17 | $5K | $5K | ||
| Conferences, conventions and meetingsLn 19 | $711 | $711 | ||
| InsuranceLn 23 | $9K | $9K | ||
| Other expenses (24a–d)Ln 24 | $219K | $214K | $5K | |
| All other expensesLn 24e | $3K | $2K | $720 | |
| Total functional expensesLn 25 | $654K | $438K | $170K | $46K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS May 15, 2026 | $1.2M | $654K | $564K | $2.8M | 990 PDF |
| FY2024Filed with the IRS Jul 1, 2026 | $2.4M | $149K | $2.3M | $2.3M | 990 PDF |
Schedules filed Part IV
See the full FY2025 990
Part I · Summary $1,217,630 revenue, 12 lines filed
Part VI · Governance 5 of 6 board members independent, 2 to look at
Part VIII · Statement of revenue $1,217,630 across 6 lines filed
Part IX · Statement of functional expenses $653,756 across 16 lines filed
Part X · Balance sheet $5,184,731 assets, 17 lines filed
Part XI · Reconciliation of net assets $2,780,014 net assets at year end
Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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